Tuesday, September 9, 2014

Open for Business: Thailand Allows Foreigners to Operate More Businesses

An amendment to Thailand’s Foreign Business Act permits foreigners to operate certain types of “service businesses” that were previously prohibited to non-Thais without formal endorsements and foreign business licenses.
The Thai business attorneys at Chinant and Leeds have been helping international clients with setting up business in Thailand since 1997.

Thailand’s Foreign Business Law expressly bars non-Thai nationals and non-Thai majority-owned companies from operating a broad range of protected business activities that are reserved for Thai nationals only. The Foreign Business Law Amendment, issued in March 2013, removed protections from specific segments of service business activities, allowing foreigners to pursue those business activities specified in the amendment without first needing to obtain a foreign business license.

This year, Thailand’s Ministry of Commerce will propose further amendments to the FBA that would remove the protected status of even more business activities listed in the FBA, according The Nation.

Read the full Thai Foreign Business Laws Amendment overview.

Read the Thailand Foreign Business Act Amendment English translation.

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