Corporate & Commercial
FOREIGN BUSINESS LICENSE
Practice Area > Corporate & Commercial > Fully Foreign Owned Companies > Foreign Business License
FOREIGN BUSINESS LICENSE
Foreign Business License is an authorization that allows a foreign entity to legally operate in Thailand certain activities prohibited to foreigners by the Foreign Business Act (FBA).
Under this Act, a foreign company is a company that is not registered in Thailand or a company registered in Thailand but half or more than half of its shares are held by non-Thai natural or juristic persons.
In Thailand, there are 43 categories of business activities, divided into three lists, which are subject to different levels of restrictions for foreigners, as following:
- List 1: business completely restricted to foreigners
List 2: business permitted to foreigners under certain conditions
List 3: business not yet permitted to foreigners
Foreigners wishing to engage in businesses indicated under List 2 and List 3 must file a foreign business license application and submit it together with all required documents and information to the Ministry of Commerce for consideration, prior to commencing operations.
The Foreign Business Committee will review if:
The proposed business could not affect other Thai companies competing in the same field of operation
It is not contrary to Thailand’s safety, security, good morals or public order
It represents an advantage for Thailand economy and environment
It is beneficial in terms of technology transfer, research and development
The minimum capital requirement has been satisfied
The 4 Thai employees to 1 foreign employee ratio has been satisfied
In general, the foreign business license application is a long and complex process, and sometimes, due to unforeseen consequences, the application might be rejected.
To fully comply with the requirements set by the government, the knowledge, expertise, and experience of a Thailand lawyer is required.
Antares’ team of lawyers has a vast experience in this area and we would be delighted to provide direction, legal advice, and assistance to reduce your concerns about the legal procedures. Contact us today for additional information or assistance you may require.
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