Foreign Investors
Foreign Business License (FBL)
The Foreign Business Act restricts or requires a license for certain activities when carried out by foreign entities. Misjudging this at the outset can leave a business operating unlawfully without realizing it. We analyze whether your business falls within licensed scope and find the right path forward — whether that's applying for a license, using treaty benefits, or restructuring.
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What we handle for you
- ✓Analyze your business scope against the schedules of the Foreign Business Act (Lists 1-3)
- ✓Assess eligibility for Thai-US Treaty of Amity benefits or other applicable international agreements
- ✓Prepare and file the Foreign Business License application with the Department of Business Development
- ✓Advise on structural alternatives, such as partnering with Thai shareholders or applying for BOI promotion instead of an FBL
- ✓Prepare supporting documents demonstrating the business's benefit to the Thai economy
- ✓Advise on the legal risks of nominee shareholding structures — an approach we do not recommend
- ✓Track application status and respond to officer queries throughout the review process
Who this is for
- Foreign investors seeking majority or full ownership in a restricted activity
- Foreign companies looking to open a branch or representative office in Thailand
- Joint ventures with foreign shareholding exceeding the statutory threshold
- US investors assessing Treaty of Amity eligibility
Frequently asked questions
Which businesses need an FBL?
Activities under Lists 2 and 3 of the Foreign Business Act — many service businesses, construction, and certain retail/wholesale activities — require a license before foreigners can hold a majority stake. We check whether your business falls within scope in the first consultation.
Can I use a Thai nominee shareholder instead?
Using a Thai nominee who hasn't genuinely invested is illegal and carries both civil and criminal penalties. We don't recommend this route, and instead help find a lawful alternative — an FBL application or BOI promotion.
How long does an FBL application take?
Typically around 60 business days from complete document submission, though this can vary with business complexity and the reviewing committee's discretion.
Not sure if your business needs an FBL?
Get a free initial consultation to assess your business scope.
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