Can a Foreigner Own 100% of a Company in Thailand?

What 100% foreign ownership means

A Thai-registered company with at least half of its capital held by foreigners is treated as foreign under the foreign-business rules. A company owned entirely by foreign investors therefore needs its proposed activities checked before it begins operating.

The company may be capable of being registered while still needing a separate licence, certificate or investment-promotion route for a restricted activity.

Routes that may allow 100% foreign ownership

An activity that is not restricted

If the intended activity is open to the proposed foreign ownership and no sector-specific restriction applies, a wholly foreign-owned company may be able to operate through the standard company structure.

Foreign Business Licence

Certain restricted activities may be available through a Foreign Business Licence. Eligibility and conditions depend on the exact activity and proposed operation.

BOI promotion

A qualifying investment project may use BOI promotion and the related foreign-business certificate route. Promotion is activity-specific and subject to the conditions attached to the approved project.

Treaty or other specific permission

Some investors or activities may qualify under a treaty or another specific law. Investor nationality and the precise business scope matter when considering this route.

What 100% ownership does not automatically provide

• Permission to carry out every business activity
• Approval for a regulated or separately licensed business
• The right for the company to own land in Thailand
• Visa or work authorisation for foreign founders or directors

Land ownership needs a separate review. A BOI-promoted company may receive permission to own land for its promoted activity, but foreign ownership of the company does not create that right automatically.

What should be checked first?

• The exact goods or services the company will provide
• The nationality and profile of the investors
• Whether the activity appears in a restricted category
• Whether an FBL, BOI, treaty or sector-specific route may apply
• The intended capital, staffing, premises and land requirements

The practical conclusion

Do not begin with the percentage alone. Define the activity first, identify the available foreign-ownership route, and then register the structure that fits the intended operation.

This article provides general information. The available route depends on the proposed activities, investors and operating plan.