FOREIGN BUSINESS LICENSE
A Foreign Business License (FBL) allows foreigners to have the majority of share ownership in a company. Please note that there are several restrictions however, specified by the Foreign Business Act, if you choose this kind of option.
Foreign Business Act:
The Foreign Business Act came into force in 1999 and prohibits or restricts foreign businesses from certain economic areas.
Examples of restricted business activities:
List 1: Businesses entirely
prohibited to foreigners
Newspaper, radio, television business
Farming, cultivation or horticulture
Forestry and timber processing from a natural forest
Fisheries, especially fishing in Thai territorial waters and in specific economic zones
Extracting Thai herbs
Trade and auction sale of Thai antiques or objects of historical value.
Making of casting Buddha images and monk alms-bowls
List 2: Businesses prohibited to foreigners, unless approved by
Manufacturing, selling, repairing and maintenance of firearms and ammunition
Domestic land, water or air transportation
Trading Thai arts
Carving of wood
Silkworm rearing, production of Thai silk, Thai silk weaving or Thai silk printing
Manufacturing sugar from sugar cane
Salt farming and mining
List 3: Business that are not yet permitted to foreigners. Prohibited to foreigners unless approved by the director- general of the Commercial Registration Department
Rice milling and flour production from rice and plants
Fisheries, in particular breeding of aquatic creatures
Forestry from replanting
Production of plywood, veneer, chip or hard board
Production of lime
Food and beverages
Other service businesses, with the exception of service businesses as prescribed in the Ministerial Regulation
Please note that the application process for a foreign business license is very complex. For further information you can contact our lawyers anytime.
SCHEDULE A FREE 30 MINUTES CONSULTATION WITH OUR TEAM
Nattaphong, Senior Legal Consultant
"Excellent Service every time. Can only recommend Vbiz"
Mr. Pisit Kailassuwan, CEO of Ev9 (Thailand) Co., Ltd.
Speak to our Team