Legal service for foreign clients
Foreign Business Licence (FBL) under the Foreign Business Act in Thailand
We map the restricted lists and choose the best route: FBL, Treaty of Amity, or BOI promotion.
Quick answer
Foreigners — including Thai companies with 50%+ foreign shareholding — may not operate businesses listed under the Foreign Business Act B.E. 2542 without a Foreign Business Licence from the Department of Business Development. Minimum capital is generally 3 million baht or 25% of three-year estimated expenses. Exemption routes exist via the Treaty of Amity (US) or BOI promotion. Contact our team for a quotation.
Contact our team for a quotation — Contact our team for a quotation; government fees are billed separately. · Timeframe stated in the quotation, subject to the Department's review queue
Who this is for
- Foreigners wanting majority ownership in services or retail
- Foreign companies opening branches in restricted sectors
- US investors seeking Treaty of Amity protection
- BOI-promoted companies needing the foreign business certificate
What you receive
- Activity mapping against FBA lists 1–3 with a written opinion
- Comparison of FBL, Treaty, and BOI routes for your case
- FBL application set with business plan and three-year budget
- Filing and follow-up until the licence is issued
- Foreign business certificate for BOI-promoted companies
Documents to prepare
- Company certificate and shareholder list
- Business plan with activities, revenue forecast, and Thai employment
- Three-year expense budget for minimum capital calculation
- Evidence of capital remittance into Thailand
How it works
5-step process
- 1
Classify the activity
The same activity can fall under different lists depending on how it is actually performed — we analyse the real business plan, not the label.
- 2
Choose the route
We compare a direct FBL, Treaty of Amity rights for Americans, or BOI promotion — each differs in ownership allowance and conditions.
- 3
Prepare the application
Business plan, budget, and supporting documents prepared to the Department's review standard.
- 4
File and clarify
We file and respond to officer queries during review; the timeline depends on the authority and is estimated in our quotation.
- 5
Licence issuance and compliance
Licences often carry conditions such as minimum capital and hiring ratios — we set up the reporting to keep you compliant.
FAQ
Frequently asked questions
How do lists 1, 2 and 3 differ?
List 1 is absolutely prohibited (e.g. press, farming). List 2 concerns national security and culture, requiring Cabinet-level approval. List 3 covers businesses where Thais are not yet competitive, such as retail, wholesale, and general services — an FBL can be sought from the Department of Business Development.
What rights does the Treaty of Amity give Americans?
Majority American-owned companies may obtain a certificate allowing them to operate almost like Thai nationals, except in certain sectors such as land, banking, and communications. A certificate application to the Department of Business Development is still required.
Can Thai nominees hold shares instead?
No. Using nominees to circumvent the FBA is an offence for both the nominee and the foreigner, punishable by imprisonment and fines. The Department actively investigates this. The lawful structures are FBL, Treaty, or BOI routes.
Does the 3 million baht minimum apply to all cases?
That is the general FBL threshold — no less than 3 million baht or 25% of estimated three-year expenses, whichever is higher. BOI and Treaty cases have different criteria; check the latest announcements before filing.
Related services
Branch Office Registration for Foreign Companies in Thailand
A branch is the same legal person as the head office — simpler to set up, but the parent bears full liability.
Thai–Foreign Joint Venture Structuring
Balanced shareholding, joint venture agreements, and control rights — designed correctly from day one.
BOI Investment Promotion Application
Corporate tax holidays, 100% foreign ownership, and fast-track work permits — for qualifying activities.
Written by: Thai Law & Accounting Services — attorneys and licensed accountants
Reviewed by: Reviewed by a Notarial Services Attorney registered with the Lawyers Council of Thailand.
Last updated: 2026-08
Information as of August 2026. Government fees and processing times change — verify with the relevant agency before acting, or let our team verify for you.