When does foreign investment change a Thai company's status?

Under section 4 of the Foreign Business Act, a Thai company is treated as foreign when foreigners hold 50% or more of its shares or capital.

How fast must director or capital changes be registered?

Within 14 days: from the change for directors (section 1157), and from the special resolution for capital (section 1228).

Guide · Transactions

Raising Investment or Selling a Thai Technology Company: Legal Readiness

Published 6 Oct 2026

A Thai technology deal turns on records investors can rely on. A transfer of registered shares in a Thai private limited company is void unless made in writing, signed by both parties, witnessed by at least one person and stating the share numbers (section 1129 of the Civil and Commercial Code), and it binds the company and third parties only once recorded in the shareholders' register. Foreign investment can also change the company's status under the Foreign Business Act once foreigners hold 50% or more of the shares.

What investors and buyers usually check

Area	What they look for
Share records	Valid transfer instruments, an up-to-date shareholders' register, filed shareholder lists
Corporate filings	Director and capital changes registered on time (14 days under sections 1157 and 1228)
IP	Written agreements confirming the company owns its code
Foreign ownership	Whether the deal makes the company foreign under the Foreign Business Act, and what that requires
Contracts and data	Key customer contracts, change-of-control clauses, personal data compliance

Questions people ask

In writing, signed by transferor and transferee, with at least one witness and the share numbers; otherwise it is void (section 1129). It binds the company and third parties once recorded in the shareholders' register.