A foreign-owned company carrying on a business on List 2 or List 3 of the Foreign Business Act B.E. 2542 normally needs permission under the Act. If the business is promoted by the Board of Investment (BOI), the company instead notifies the Department of Business Development and receives a Foreign Business Certificate, and is exempt from most of the Act while the promotion lasts (section 12). List 1 businesses stay closed to foreigners even with promotion.
Who this is for
Foreign investors setting up or restructuring a Thai company whose activity may be restricted under the Foreign Business Act.
The two routes compared
| Point | Foreign Business Licence route | BOI promotion route |
|---|---|---|
| What the company receives | A licence under the Foreign Business Act | A Foreign Business Certificate (section 12) |
| How long it lasts | Until the licensed business stops (section 21) | While the business remains promoted (section 21) |
| Foreign shareholding | Treated as foreign at 50% or more (section 4) | Set by the conditions in the promotion certificate (Investment Promotion Act section 20) |
| Land | Subject to general land law | May be permitted to own land for the promoted business (Investment Promotion Act section 27) |
| List 1 businesses | Prohibited | Still prohibited |
Minimum capital
A foreigner starting a business in Thailand needs minimum capital of at least THB 2 million, or at least THB 3 million for a business that needs a licence under the Act's lists (section 14 and the 2019 Ministerial Regulation).
What Corporly does here
The foreign ownership route review compares the routes for your activity. Foreign Business Licence and BOI promotion applications are then quoted separately.
Frequently asked questions
Questions about Foreign investment
For a List 2 or List 3 business, it notifies the Department of Business Development and receives a Foreign Business Certificate instead (section 12).
Choose the route before you register
Share your activity and ownership plans. The first review conversation is free.