Back to Resources
Foreign investment
Foreign Business Act Lists: What They Mean for Digital Businesses
Published 6 Oct 2026
A Thai company is foreign under the Foreign Business Act B.E. 2542 once foreigners hold 50% or more of its shares. Its activities are then checked against the Act's lists. For digital businesses the most relevant entries are on List 3: other services (21), advertising (16), retail and wholesale below set capital levels (14, 15), hotels (17) and tour business (18).
| Activity | List 3 entry |
|---|---|
| Most service businesses not listed elsewhere | (21) other services |
| Advertising | (16) |
| Retail below THB 100m total or THB 20m per shop | (14) |
| Wholesale below THB 100m per shop | (15) |
| Hotel business, other than hotel management | (17) |
| Tour business | (18) |
BOI promotion changes the position for List 2 and List 3 businesses: see BOI or Foreign Business Licence.
Frequently asked questions
Questions about Foreign investment
It is not listed by name; service businesses not listed elsewhere fall under List 3 (21), unless a ministerial regulation exempts them.
Check the activity before you register
The first review conversation is free.