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published on October 1, 2019 / reading time approx. 1 minute
Business activities of foreigners in Thailand are subject to the Thai Foreign Business Act (FBA). Amongst others, foreigners have to obtain a Foreign Business License for business activities mentioned on list 3 of the FBA. List 3 includes businesses in which Thai businesses might not be competitive yet. Conducting the business without license is illegal and can be punished with fines and imprisonment.
Now, the Director-General of the Department of Business Development (the authority tasked with administering the FBA) proposed to delete the following business from list 3:
If the government approves the deletions, foreigners could engage in these businesses without obtaining a Foreign Business License from the Department of Business Development. Please note that other license requirements by other regulatory authorities still apply. At the moment, we deem it likely that the government will approve the suggestions. Overall, we consider the proposed liberalization the right step towards a further economic strengthening of Thailand as one of the best investment locations in Southeast Asia.
Martin Chrometzka
Associate Partner
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