Business laws in Thailand
Business laws in Thailand reserve certain rights only for Thai nationals. Therefore, foreign investors face certain restrictions when doing business in Thailand.
A Thai company is regarded as one if majority of the shares of a limited company are held by Thais. Foreigners in Thailand however are generally allowed to participate up to 49% in a company engaged in restricted businesses. Beyond that, the approval requirement must be complied with.
Foreign Business License (FBL)
Strictly speaking, any company with majority of foreign shareholders is required to apply for the FBL Foreign Business License if it engages in a restricted business. There are some exemptions which allow the foreigner to set up business in Thailand where majority of the owners are foreigners. The Thailand-United States Treaty of Amity is one of such exemptions.
The application process can be at times very time consuming with unpredictable outcomes. The Foreign Business License application is a complicated long process; in general, but with our step-by-step process and legal guidance, you can get through the process particularly faster, without the pitfalls you may encounter. Allow us to help you towards a successful Thai business license.