Foreign Business License
Foreign-owned businesses looking to operate in Thailand often face various legal restrictions to what business activities they can undertake per the Foreign Business Act. Obtaining a Foreign Business License is crucial to ensure compliance and unlock business opportunities.
The Foreign Business License is awarded to foreign companies and investors who wish to participate in sectors or industries typically restricted to Thai citizens under the Foreign Business Act. The need for an FBL arises from the desire of foreign companies to have majority ownership and avoid the requirement of having a Thai partner.
100% foriegn owned companies can obtain a Foreign Business Licence and engage in business activities typically restricted to Thai companies under the Foreign Business Act.
Foreign businesses operating in Thailand must obtain a Foreign Business License (FBL) if undertaking one of the 50 restricted business activities to comply with the Foreign Business Act (FBA).
Various factors are considered when applying, such as national security, economic impact, business size, and local employment opportunities. Approval is more likely if the business offers substantial benefits, aligns with Thai interests, and avoids direct competition with local businesses.
Why work with VB and Partners?
Embarking on a business venture, especially in a foreign land, can appear overwhelming. At VB & Partners, we understand this challenge and our experts are ready to assist with your needs. Our comprehensive range of services covers every step, from initial business feasibility assessments to complete incorporation and the start of your business operations.
Navigating local laws and regulations is a paramount concern for foreign enterprises. Our tailored solutions alleviate this complexity, ensuring unwavering adherence to legal mandates. Backed by a team well-versed in the intricacies of the Thai market and regulations, ensuring the smooth operation of your business.
VB & Partners takes pride in its assembly of seasoned experts. Ranging from Incorporation, Accounting & Secretary Services to Immigration and Real Estate, VB & Partners stands as your premier destination for all your legal and accounting needs.
What does this package include
- Initial Consultation: Our experts will asses your companies business activities and identify whether a Foreign Business Licence will be granted.
- Document Preperation: Our experts will work closely with you to obtain and collate all the required documents and complete the application forms ready for submission.
- Submitting the Application: Our experts will submit the application to the Foreign Licensing Department of the Ministry of Commerce. We will also liaise with the officers through the consideration and review process to ensure complete awareness of the status of the application.
- Collection of the Foreign Business Licence: Once the Foreign Business Licence has been approved and issued, our experts will collect the documents on your behalf.
- Post-approval procedure: Our experts will keep you up-to-date with any compliance requirements requested by the Ministry of Commerce to ensure a smooth working relationship.
- Answering questions concerning the Foreign Business Licence.
What you must know before applying
Book a Call with our expert
Up to an hour consultation on the process of setting up a company in Thailand.
We will provide you with information on key areas such as; company structure, taxes, accounting and other general aspects of opening a company in Thailand. We will also answer any other legal questions you may have to provide you with a clear overview.
If some extra research is necessary to answer your questions, our experts will check and revert to you with complementary elements by email.
This consultation is provided by legal experts in English or in French.