If so, then you should know that business laws reserve few rights for Thai nationals. Thus, foreign investors face restrictions to do business in Thailand. According to the Foreign Business Act, there are three types of business activities;
List 1:
Includes businesses that are not permitted to foreigners:
- Newspaper publication, TV Station and Radio Broadcasting;
- Trading and Auctioning of the Thai Antiques and Land;
List 2:
Consists of businesses permitted to foreigners only under certain conditions:
- Production, repairing and selling of firearms and explosives;
- Domestic land and waterway or air transportation;
- Production, selling, aircrafts and military vehicles;
- Production of musical instruments of Thailand;
- Production of nielloware, lacquerware and silverware;
- Manufacturing sugar from sugarcane;
- Wood fabrication and utensil production;
List 3:
Consists of businesses that are not yet permitted to the foreigners as the Thai nationals are not equipped:
- Production of Lime;
- Tour Agency;
- Architecture Service Business;
- Production of Plywood;
- Selling Food or Beverages;
- Engineering Service Business;
Willing to engage in businesses in the List 2 and 3 of FBA in Thailand needs to obtain a license first from relevant authorities before beginning their business operations. You should file with the Commercial Registration Department that will be reviewed by a Foreign Business Committee or the Cabinet. However, to be able to make application an applicant must;
- Must have attained the age of 20;
- Must not be a bankrupt;
- Must not be an incompetent;
- Have a residency or should be permitted to enter Thailand temporarily;
- Never had a revoked license under Notification No. 281;
- Never found guilty by the court or fined for an offence;
- Never have been imprisoned for debtor cheating and fraudulent acts;
- Never being bankrupt;
The foreign applicant will have to pay 2,000 THB in order to obtain the license, whereas those who are under List 2 and 3 will have to pay 3,000 THB.
