Foreigners Operating in Restricted Thai Businesses: Legal Implications and Regulatory Framework

Thailand’s Foreign Business Act B.E. 2542 (1999) (FBA) establishes strict limitations on foreign ownership in designated business sectors in that foreigners are required to have a license prior to the commencement of business in Thailand, in order to safeguard local enterprises. Under the FBA, the restricted businesses are categorized in three (3) Business Lists as attached to the FBA.