Doing Business in Thailand? Know the Rules!
Under the Foreign Business Act B.E. 2542 (1999), certain industries are restricted for foreign investors — known as List Three businesses.
These are sectors where Thai nationals are not yet ready to compete, and foreign participation requires a Foreign Business License (FBL) — granted case-by-case based on:
Job creation for Thai citizens
Transfer of knowledge or technology
Economic benefit to Thailand
Licenses are rarely approved if the business offers no added value or is already dominated by Thai operators.
Examples of List Three Restricted Businesses:
- Legal, accounting, architectural, and engineering services
- Agriculture and aquaculture
- Retail and wholesale (with capital limits)
- Tourism, food & beverage, hotel operations
- Advertising and construction
Full list available upon request.
Thinking of entering the Thai market? Let Harwell Legal International guide you through FBL eligibility and compliance.
