Foreign Business License (FBL)

In order to have 100% or Majority Foreign Business Ownership, the company must apply for a permission to operate a business under the Foreign Business Act BE.2542 (1999).

What is Foreign Business License?

Thailand restricts and prohibits economical areas and business categories for foreigners primarily in the Foreign Business Act (A.D.1999). Under the Foreign Business Act (FBA) foreigners are prohibited from engaging in most business categories in Thailand, unless an alien business operation permit has been obtained from the Director-General of the Department of Commercial Registration with the approval of the Foreign Business Committee. Separate laws control foreign ownership of land as well as such activities as banking, insurance, finance and shipping.

Foreign Business License Requirements

Minimum capital at the commencement of business cannot be less than that prescribed by ministerial regulations and can in any case not be less than 2M THB. But, in the case where these require the license under List Two or Three, the minimum capital to be prescribed in the ministerial regulations for each of the businesses shall in no case be less than 3M THB. Other conditions in ministerial regulations. Conditions related to the licensee.

Foreign Business Act Restrictions

Majority Foreign Business Ownership is not permitted under Business List 1. For List 2 and 3, foreigners can still set up a wholly foreign owned company by applying for the Foreign Business License (FBL)

Difference between
FBL and Thai LLC

  • FBL can have up to 100% Foreign Ownership depending on the type of business
  • FBL requires Minimum capital of 3 million Baht
  • Applying for FBL is not 100% guaranteed
  • The whole process needs at least 4 to 6 months​

Board of Investment Company in Thailand

With approval from the Thailand BOI, you can have a 100% foreign-owned company operating physically in Thailand.  There are many benefits to setting up in Thailand as a BOI company.

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