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SETTING
UP COMPANY IN THAILAND
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Can
foreigners operate 100 percent foreign owned company in Thailand? |
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The
foreign controlled businesses are currently governed by Foreign
Business Act (FBA). The law became into force on March 3, 2000
to replace Alien Business Law which had been effective since
November 26, 1972. FBA also specifies which business activities
are prohibited to foreign investors and restrict foreign participation
in certain business areas. If the activities that foreigners
intend to operate are not under restricted businesses, it is
possible to establish wholly foreign-owned company for such
activities. There
are other possibilities available for foreigners to operate
100 percent foreign owned company in Thailand:
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a
branch of foreign companies |
* |
a
promoted company in accordance with either the Investment Promotion
Act, the Industrial Estate Authority of Thailand Act, or other
laws |
* |
a
company owned by U.S. citizens by virtue of the Treaty of Amity
and Economic Relation |
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However, a company is required to meet requirements differently
on each choice mentioned above. |
