Service Businesses Which Foreigners May Operate Without A Foreign Business License
According the Foreign Business Act of 1999, foreigners are required to obtain a Foreign Business License before they may operate “other types of service businesses, except for those specified by Ministerial Regulations”. This provision in the law has generally restricted foreigners in Thailand from operating all types of service businesses except for those that are specifically listed, such as “hotel management services”; which for a while, was the only specific exception to the restriction over service business. However, recently on March 18, 2013, a Ministerial Regulation was published in the Royal Thai Gazette which specifically listed additional service businesses which foreigners could engage in without having to apply for a Foreign Business License.
According to the regulation, the following types of businesses are open to foreigners:
- Securities businesses, stock market businesses, and related businesses
- Stockbroking
- Investment consulting
- Underwriting
- Securities borrowing and lending
- Mutual fund management
- Personal fund management
- Private fund management
- Venture capital management
- Offering credit for securities businesses
- Financial consulting
- Registrar services
- Asset management for customers of securities firms and firms dealing in futures contracts
- Private fund custodian
- Mutual fund fiduciary services
- Debenture holder agent services
- Buying and selling in futures contracts
- Futures contracts brokerage
- Futures contracts consulting
- Futures contracts investment management
- Stock market trustee services according to the relevant law
If you have questions related to Foreign Business License that are not addressed in this article, please feel free to contact us.
Category: Business in Thailand, Company Law
About the Author (Author Profile)
Siam Legal is an international law firm with experienced lawyers, attorneys, and solicitors both in Thailand law and international law. This Thailand law firm offers comprehensive legal services in Thailand to both local and foreign clients for Litigation such as civil & criminal cases, labor disputes, commercial cases, divorce, adoption, extradition, fraud, and drug cases. Other legal expertise of the law firm varied in cases involving corporate law such as company registration & Thailand BOI, family law, property law, and private investigation.
