The Thai Foreign Business Act
Updated on Monday 05th December 2016
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A foreign investor who wishes to establish his presence in Thailand can open a business considering the rules and the regulations of the Thai Foreign Business Act (FBA). This important law stipulates different conditions for overseas businessmen who wish to set up a company in Thailand. Our experts in company formation in Thailand can offer assistance and guidance for persons interested in this matter and can speed up the company registration procedure in Thailand.
Business categories mentioned in the Thai Foreign Business Act
The Thai Foreign Business Act stipulates three types of business activities, such as:
• the first category, which implies certain types of businesses that are not accessible to overseas investors, except if they are stipulated under a specific agreement;
• the second category, which involves activities which can be performed under certain conditions;
• in the third category enter businesses banned to foreigners (aliens), without the approval of the Commercial Registration Department in Thailand.
The law was planned to protect the business activities of Thai citizens and to add specific rules and regulations for companies established by foreign entrepreneurs.
The Alien Business License in Thailand
An Alien Business License is granted according to the Foreign Business Act in Thailand by the authorities in charge and it is necessary for foreigners who want to open a company which enters in the second and the third category of business. Our company formation agents can provide you with important information in order for you to open a company in Thailand.
If the company you wish to establish will offer substantial and significant benefits for Thailand, then the Cabinet of Foreign Business Committee will grant you the license, in order to start doing business in the country. Before that, the foreigner will need to prepare all the documents related to the company and its activities and to fill the application form with the Commercial Registration Department in Thailand.
Additional information and assistance in this matter and about the company registration procedure in Thailand can be found if you contact our law firm in Thailand.