Foreign Business Licence in Thailand: cost, requirements and timeline
A company in Thailand that is half or more foreign-owned needs permission before it carries on most service businesses. This guide sets out who needs a Foreign Business Licence, the two quicker routes to the same result, what the government charges, the minimum capital, and how long the process takes under the Foreign Business Act B.E. 2542 (1999).
Published 10 October 2026
Who needs a licence
Under section 4 of the Foreign Business Act, a "foreigner" includes a company registered in Thailand in which foreigners hold half or more of the shares, and also a Thai company owned in turn by such a company. A Thai subsidiary of a foreign group is therefore usually a foreigner for the purposes of the Act.
The Act sorts restricted businesses into three lists. List One businesses are closed to foreigners. List Two businesses need the Minister's permission with the approval of the Cabinet. List Three businesses need the permission of the Director-General of the Department of Business Development, given with the approval of the Foreign Business Committee (section 8). List Three is the one most foreign companies meet. Among other things, it covers accounting, legal, architectural and engineering services, construction, brokerage and agency, advertising, and hotels other than hotel management. Item (21) is a catch-all: "other service businesses", except those exempted by ministerial regulation.
Ministerial regulations have taken some services out of item (21) over the years, including certain services provided only within a corporate group. Whether a particular activity is caught is the first thing to establish. Manufacturing and selling your own goods is, as a rule, not in the lists at all.
Three routes to permission
A Foreign Business Licence under section 17 is the general route for a List Three business.
A certificate under section 12 replaces the licence where the business is promoted by the Board of Investment, or permitted to operate for export under the industrial estate law. The company notifies the Director-General, who must issue the certificate within 30 days. While the promotion lasts, the company is exempt from most of the Act. See BOI investment promotion.
A certificate under section 11 applies where a treaty to which Thailand is party allows the other country's nationals to do the business (section 10). The certificate is again due within 30 days of notification, on the conditions the treaty sets.
Where either certificate route is open, it is usually quicker and cheaper than a licence, so it is worth checking before a licence application is prepared.
What the government charges
The fees are set by the Ministerial Regulation on Fees for Foreign Business Operation B.E. 2544 (2001).
| Item | Fee |
|---|---|
| Application for a licence under section 17 | 2,000 baht |
| List Three licence, company | 5 baht per 1,000 baht of registered capital, at least 20,000 and at most 250,000 baht |
| List Two licence, company | 10 baht per 1,000 baht of registered capital, at least 40,000 and at most 500,000 baht |
| Application for a certificate under section 11 or 12 | 2,000 baht |
| Certificate | 20,000 baht |
A part of 1,000 baht counts as a full thousand. On a registered capital of 3 million baht, the List Three licence fee works out at 15,000 baht, so the minimum of 20,000 baht applies. On 10 million baht it is 50,000 baht.
These are the government's fees only. Professional fees are separate, and we quote them in advance once we have seen what the business does.
Minimum capital
Section 14 requires a foreigner starting a business in Thailand to have minimum capital of at least 2 million baht. Where the business needs permission under the lists, the minimum is at least 3 million baht for each business. A company that needs a licence for two separate List Three activities should plan its capital with both in mind.
Under section 18, the licence may also carry conditions on the capital-to-loan ratio, the number of foreign directors who must live in Thailand, and how long the minimum capital must be kept in the country.
How long it takes
For a List Three business, section 17 requires the Director-General to decide within 60 days of the application. Once permission is granted, the licence is issued within 15 days. A refusal must be given in writing within 15 days, with the reasons, and it can be appealed to the Minister.
The 60 days run from a complete filing. In practice, most of the work comes before that: describing the business, showing why it benefits Thailand, and assembling the company's documents.
What the Committee weighs
Section 5 lists what is considered when deciding whether to permit a foreigner to do business:
- national security
- economic and social development
- public order and morals
- culture and tradition
- natural resources, energy and the environment
- consumer protection
- the size of the business
- employment
- technology transfer
- research and development
An application that explains, in those terms, why the business is good for Thailand is the one that gets through.
Operating without permission
Running a listed business without a licence or certificate is an offence under section 37. The penalty is imprisonment of up to three years, a fine of 100,000 to 1,000,000 baht, or both. The court also orders the business to stop, and failure to comply adds a daily fine of 10,000 to 50,000 baht.
Holding shares through Thai nominees to avoid the Act is a separate offence under section 36. It carries the same range of penalties, and applies both to the nominee and to the foreigner who agrees to the arrangement.
If you are not sure which route fits your business, we can review the activity, the shareholding and the BOI or treaty position before anything is filed. See Foreign Business Licence services.
Questions this raises
How much does a Foreign Business Licence cost in Thailand?
In government fees, 2,000 baht to apply. The List Three licence itself costs 5 baht per 1,000 baht of registered capital, at least 20,000 and at most 250,000 baht. Professional fees are separate.
How long does it take to get a Foreign Business Licence?
The Act gives the Director-General 60 days from a complete application to decide on a List Three business. The licence follows within 15 days of approval. Preparing the application usually takes longer than the review itself.
Is there a faster route than a licence?
Yes, where the business is BOI-promoted or covered by a treaty. Either way the company receives a certificate within 30 days of notifying the Director-General (sections 11 and 12).
Can Thai shareholders hold shares for us instead?
Not to avoid the Act. Nominee shareholding is an offence under section 36, for the nominee and for the foreigner who agrees to it. The penalty is up to three years' imprisonment, a fine of 100,000 to 1,000,000 baht, or both.
The legislation
- Foreign Business Act B.E. 2542 (1999), sections 4, 5, 8, 10, 11, 12, 14, 17, 18, 36 and 37, and List Three
- Ministerial Regulation on Fees for Foreign Business Operation B.E. 2544 (2001)
- Ministerial regulations prescribing service businesses exempted from List Three, item (21)
