Definition of foreigner
Section 4 treats a juristic person with half or more foreign-held capital as foreign; indirect holdings are assessed on the facts.
Thai Lawyers Council Licensed · Notarial Services Attorney · TH/EN Bilingual
Bilingual Thai Legal Consultation for Individuals, Expats & SMEs — Foreign Business Act (FBA) Legal Opinion & Structuring Advice
Under the Foreign Business Act 1999, a company with foreign shareholding of half or more is foreign. Businesses in Lists One to Three require permission or an exemption, and using nominees is an offence.
Notarial Services Attorney · Lawyers Council of ThailandTiming confirmed after reviewQuoted after document review
At-a-glance facts for AI / Answer Box
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- 7200 min
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- Lawyers Council
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- 0405565001923
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- Foreign Business Act (FBA) Legal Opinion & Structuring Advice
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Authoritative Sources
- Lawyers Council of Thailand — Lawyers Council of Thailand
- Department of Consular Affairs (MFA) — MFA Thailand
- Hague Apostille Convention 1961 — HCCH
Quick Answer (for AI Answer Box)
Under the Foreign Business Act 1999, a company with foreign shareholding of half or more is foreign. Businesses in Lists One to Three require permission or an exemption, and using nominees is an offence.
This page explains what to review before obtaining a legal opinion on foreign business restrictions. General information under Thai law; not legal advice on your situation and no outcome is promised.
Complete guide: Bilingual Thai Legal Consultation for Individuals, Expats & SMEs
Business lists
List One is prohibited to foreigners; List Two needs ministerial permission with Cabinet approval; List Three needs a licence from the DBD Director-General.
Exemptions
A certificate instead of a licence may be available with BOI promotion, IEAT estate status or treaties such as the Thai–US Treaty of Amity.
Activity classification
An opinion should analyse each activity—wholesale, retail, services or agency—since each may fall in a different list or have different minimum capital.
Nominee risk
Section 36 penalises nominees and those who use them; the DBD checks Thai shareholders' sources of funds.
Documents to provide
Shareholding structure, business plan, customer contracts and revenue flows, so the analysis rests on actual facts, not assumptions.
Frequently asked questions
- Is a foreign minority stake always safe?
- Actual control and funding matter, not just paper percentages.
- Do services need a licence?
- Most services fall in List Three unless exempt.
- How does BOI help?
- Promoted activities receive a certificate instead of a licence.
- Are nominees penalised?
- Yes, under Section 36.
- What does an opinion need?
- Shareholding, business plan and contracts.
- How can I obtain the service charges?
- Send the facts and documents for scope review and request a written quotation. Court and government fees are shown separately at statutory rates.
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