ANNOUNCEMENT 09 Jun 2017
On 9 June 2017, the Thai Ministry of Commerce issued a ministerial regulation removing various businesses from the restricted business activities list under the Foreign Business Act (FBA). The amendments are effective on 9 June 2017.
NUMBER OF INTERVENTIONS
Thai Department of Business Development, Ministry of Commerce, Ministerial Regulation, Prescribing Service Businesses Which Do Not Require a Foreign Business License (No. 3)B.E. 2560 (2017)*. Available at: www.dbd.go.th/dbdweb_en/ewt_dl_link.php?nid=4219 (PDF), http://webcache.googleusercontent.com/search?q=cache:UEHExBgrCE0J:www.dbd.go.th/dbdweb_en/ewt_dl_link.php%3Fnid%3D4219+&cd=1&hl=en&ct=clnk&gl=sg
Baker McKenzie, Restrictions Eased for Foreign Investors in Certain Businesses, 14 June 2017. Available at: https://www.bakermckenzie.com/en/insight/publications/2017/06/restrictions-eased-for-foreign-investors
Deloitte Legal, Business activities that will be exempt from the requirement to obtain a license under the Foreign Business Act B.E. 2542, 21 June 2017. Available at: https://www2.deloitte.com/content/dam/Deloitte/th/Documents/legal/th-legal-alert-en-210617.pdf
On 9 June 2017, the Thai Ministry of Commerce issued a ministerial regulation removing various activities from the restricted business activities list under the Foreign Business Act (FBA). Foreign businesses are no longer required to obtain a foreign business license to operate in Thailand.
The 19 exempted activities are those which are governed by regulations on financial institutions regulations and other industry-specific laws. Under the businesses governed by the laws in financial institutions, there are 14 exempted business activities ranging from operating financial institution businesses and other commercial activities.
Other businesses covered by the specific laws are those in the asset management industries as well as services businesses relating to international trade and those working with local agencies and enterprises.
The amendments are effective on 9 June 2017.