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.

Real Estate Rights Under the Marriage Equality Act

Building upon the earlier overview of the law (https://www.ilct.co.th/marriage-equality/), this article delves deeper into the implications of the Marriage Equality Act on real estate rights for LGBTQ+ couples in Thailand. It focuses on two key aspects: condominium acquisition and land ownership.

Advancements in Thailand’s Marriage Equality Legislation of 2024

Thailand has witnessed significant social progress in recent years, with growing societal interest in enhancing the rights and well-being of LGBTQ+ individuals. In response to this momentum, there has been a social movement to legalize same-sex marriage and elevate family and civil rights for LGBTQ+ individuals through amendments to the Thai Civil and Commercial Code (“CCC”), known as the “Marriage Equality Act” (the “Act”).

Legal Developments in Thai Real Estate: Facilitating Foreign Ownership

On June 21, 2024, the Cabinet Secretary’s office introduced urgent economic measures aimed at revitalizing Thailand’s economy through the real estate sector. Central to these measures is a proposal to relax regulations governing foreign ownership of properties. This initiative comes in response to a letter from the Cabinet Secretary dated April 9, 2024, emphasizing the government’s commitment to stimulating economic growth via real estate development and positioning Thailand as a global industrial hub.