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  • Establishing a Business in Thailand and the rules associated with doing so.

  • By: AHgl Added: 18-06-14
  • As it is very difficult and often impossible to obtain a foreign business license most foreigners initiate a business without a foreign business license or exemption even though these business categories are restricted or prohibited for foreigners. These foreigners have a work permit issued under a Thai company and operate their business through a Thai limited company. Thai company means under the current Foreign Business Act that half or more of the shareholders are held by Thais. Foreigners are under the current FBA allowed to have majority voting rights and control in a Thai limited company through preference shares and weighted voting rights. The most popular form of business entity among foreign investors is therefore the private limited company.

    A Thai company is not subject to the Alien Business Act and when a partly foreign owned Thai company is structured as majority Thai owned it is deemed that the business is operated by a Thai entity (not foreign/alien) and the company will in principle be regarded as a Thai owned and therefore, as a Thai juristic person, the company will not be restricted by the Foreign Business Act.

    Some foreigners invest in a Thai business or initiate a Thai company with a Thai or foreign partner in the company, in such structures it is recomeded to specify in the articles of assocation (the user's manual of the company) the procedures, duties and authority of directors, such as procedures for the making of decisions and (limited) individual authority to manage and sign on behalf of the company.

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