ฉบับภาษาไทย: อ่านหน้านี้เป็นภาษาไทย
When is a company treated as 'foreign' under Thai law?
Short answer
Under the Foreign Business Act B.E. 2542 (1999), a juristic person is foreign when it is not registered in Thailand, or when it is registered in Thailand but half or more of its shares are held by non-Thai persons or entities. Nationality follows the shareholding on the register, not where management sits.
The consequence is licensing, not prohibition. A foreign company may not carry on activities in Lists 1, 2 and 3 annexed to the Act without the relevant permission — most service businesses sit in List 3 and require a Foreign Business Licence or a Foreign Business Certificate. Promotion by the Board of Investment, or a treaty route such as the Treaty of Amity for US nationals, can change the analysis entirely, which is why the structure is decided before incorporation rather than after.
Do not solve the threshold with nominee Thai shareholders. Holding shares on behalf of a foreigner to evade the Act carries criminal liability for both sides and can unwind the structure, and authorities do ask Thai shareholders to evidence the source of their investment funds. If the economics require foreign control, use a lawful route — BOI promotion, an FBL, a treaty, or a preference-share and voting structure reviewed against the Act. Scope, turnaround and fees are confirmed by IVC staff by phone, LINE or email — this site does not publish prices.
Reviewed as of 2026-08-04. General guidance only, not case-specific advice and not a guarantee of outcome. Government fees, conditions and processing times are set by the responsible authority and can change. This site does not publish prices — please ask our staff.
ให้เจ้าหน้าที่ตรวจขอบเขตงานและเอกสารก่อนเริ่ม
สอบถามรายละเอียดและเงื่อนไขได้ทางโทรศัพท์ LINE หรืออีเมล