Foreign companies wishing to operate in business activities controlled by the Foreign Business Act are required to apply for a Foreign Business License prior to commencing their business operation in Thailand.
|List 1||List 2||List 3|
|Open to foreigners|
|Authority issuing the Foreign Business License||N/A||The Cabinet||Thai Ministry of Commerce|
|Capital requirements||N/A||3 million THB or more||3 million THB or more|
When the application is accepted by the MoC, the registrar at the Foreign Business Committee will review it within a sixty-day consideration period for which they will consider the advantages and disadvantages of the business to the nation’s safety and security; economic and social development; public order, good morals, art, culture and traditions of the country; natural resources, conservation, energy and environment, consumer protection, size of the enterprises, environment; and technology transfer and research & development.
Foreign companies operating in business activities under List 2 and List 3 of the Foreign Business Act in and holding a license must have a registered capital of no less than 3 million THB and comply with other requirements such as those concerning the schedule for the minimum capital to be brought or remitted into Thailand, the ratio of the capital and loans to be used in the permitted business, the number of foreign directors or representatives who may have domicile in the Kingdom as prescribed by the Ministerial Regulations.