Foreign-owned business
Can a Foreigner Own 100% of a Company in Thailand?
Published 27 Oct 2026
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
Key rules at a glance
| Rule | Source |
|---|---|
| A Thai-registered company is a "foreigner" under the Foreign Business Act when foreigners hold 50% or more of its capital. | Foreign Business Act B.E. 2542, s.4 |
| List 1 businesses are closed to foreigners. A List 2 or List 3 business normally needs permission before it is carried on. | Foreign Business Act s.8 |
| A BOI-promoted foreign company in a List 2 or List 3 business receives a Foreign Business Certificate instead of a licence, valid while the promotion lasts. List 1 businesses stay prohibited. | Foreign Business Act ss.8, 12 |
| Operators covered by a treaty are exempt from listed sections on the treaty's terms. | Foreign Business Act s.10 |
| Minimum capital for a foreigner starting a business is at least THB 2 million, and at least THB 3 million for a business that needs a licence under the Act's lists. | Foreign Business Act s.14; Ministerial Regulation 2019 |
| Holding shares on behalf of a foreigner to avoid the Foreign Business Act is a criminal offence. | Foreign Business Act s.36 |
| For land ownership, a company is treated as foreign once foreigners hold more than 49% of its registered capital or are more than half its shareholders. | Land Code s.97 |
| A BOI-promoted company may be permitted to own land for the promoted business, as the Board approves. | Investment Promotion Act B.E. 2520, s.27 |
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.
Frequently asked questions
Questions about Foreign-owned business
Under the Foreign Business Act, when foreigners hold 50% or more of its capital (s.4). Its activities must then be checked against the Act's lists before it operates.
Confirm the 100% foreign-owned route before registering
Corporly reviews the proposed activities, investors and operating structure before identifying an appropriate route into company registration, a Foreign Business Licence or BOI promotion.