Permits and Licenses for Your Business in Thailand
Updated on Thursday 20th April 2017
Rate this article 4 reviewsbased on
Depending on the industry in which the company activates, there are different types of permits and licenses required for your business in Thailand. Our lawyers in Thailand can offer comprehensive information in this matter for you to properly start your activities in the country.
Permits for your business in Thailand
In Thailand, certain types of businesses like pharmaceuticals, some agricultural products, and alcoholic beverages have to be issued permits in order to produce and import inside the country. The permits for your business in Thailand are to be granted by the relevant ministries. Our Thai lawyers can provide more details on this matter.
The foreign business license in Thailand
Certain categories of businesses in Thailand are not allowed to be owned in majority by foreign nationals or non-Thai persons if they are listed in the prohibited classes of the Foreign Business Act. If the foreign entity or firm wants to do business in one of the prohibited classes of business, it has to obtain a foreign business license in accordance with the regulations of the Foreign Business Act. A foreign business license in Thailand enables aliens (foreign entrepreneurs) to manage and lead foreign companies with activities which normally are restricted to aliens according to the Thai legislation.
If you want to know more details about the permits and licenses necessary for your company in Thailand, we invite you to watch the video below:
Acquiring the Foreign Business License in Thailand
Thai companies which are owned in majority by foreign citizens have to acquire a foreign business license from the Director-General of the Department of Commercial Registration with the approval of the Foreign Business Committee. The process can be simplified if you obtain the approval of the Thailand Board of Investment (BOI).
A foreign business license could grant foreign investors 100% ownership for the categories of businesses under certain classes of businesses which are normally prohibited to aliens. The approval and issuance of a Thai foreign business license may be influenced by various factors like the impact on employment in the country, transfer of technology, advantages to the public and the possibility that the activity might be undertaken by Thai citizens. Usually, the application process for a foreign business license can be quite complex. It could take at least four months to receive such a license for your business in Thailand. Our law firm in Thailand can provide guidance for this type of application process.
If you need to know more about the permits and licenses necessary for your business in Thailand, please contact us.