Types of Businesses Foreigners Can Own 100% in Thailand Without FBL
Foreigners are allowed to fully own (100% ownership) certain types of businesses in Thailand without the need to apply for a Foreign Business License (FBL) — if those businesses are not listed under the restricted lists (List 1, 2, or 3) of the Foreign Business Act B.E. 2542 (1999).
Here are the main types of businesses foreigners can own 100% legally in Thailand:
✅ 1. Export Business
- Exporting goods and products from Thailand to overseas markets.
- No local sales allowed.
- No need to apply for FBL.
✅ 2. Manufacturing and Factory Business
- Manufacturing products in Thailand for export or local sale (if not on restricted lists).
- Factories producing general products or export goods.
- No need to apply for FBL.
✅ 3. Software Development and IT Services (For Overseas Clients)
- Developing software, mobile apps, or IT services for international markets.
- No need for FBL if not servicing Thai market directly or related to restricted sectors.
✅ 4. Research and Development (R&D)
- R&D activities in areas not affecting national security or sensitive industries.
- Fully foreign-owned without FBL, if not on the restricted list.
✅ 5. BOI-Promoted Businesses
- If approved by the Board of Investment (BOI), foreigners can own up to 100% of businesses in targeted industries.
- BOI sectors include:
- Technology and software.
- Advanced manufacturing.
- Renewable energy.
- Healthcare and biotechnology.
- No FBL required under BOI promotion.
✅ 6. Wholesale and Retail (With Sufficient Capital)
- Wholesale business with minimum THB 100 million per store.
- Retail business with minimum THB 100 million total capital, or THB 20 million per branch.
- Exempt from FBL if capital requirements are met.
✅ 7. Treaty of Amity (U.S. Citizens and Companies)
- U.S. citizens and companies can own 100% of most businesses under the U.S.-Thailand Treaty of Amity.
- Some exceptions apply, such as land trading and certain restricted sectors.
✅ 8. Industrial Estate Authority of Thailand (IEAT) Businesses
- Companies operating in Industrial Estates under IEAT can be 100% foreign-owned.
🎯 Summary of 100% Foreign-Owned Business Types
| Business Type | FBL Required? | Notes |
|---|---|---|
| Export Business | ❌ No | Export only, no local sales |
| Manufacturing/Factory Business | ❌ No | If not in restricted lists |
| Software Development (for foreign clients) | ❌ No | Not involving restricted activities |
| Research & Development (R&D) | ❌ No | If not in sensitive sectors |
| BOI-Promoted Businesses | ❌ No | Must follow BOI promotion terms |
| Wholesale (≥ THB 100M per store) | ❌ No | Capital requirement must be met |
| Retail (≥ THB 100M total or ≥ THB 20M per branch) | ❌ No | Capital requirement must be met |
| Treaty of Amity (U.S. businesses) | ❌ No | For eligible U.S. investors |
| IEAT (Industrial Estate Authority) | ❌ No | Operate in Industrial Estates |
💡 Important Note:
If the business is listed under restricted Lists 1, 2, or 3 of the Foreign Business Act, or does not meet capital thresholds, an FBL will be required unless the company receives BOI promotion or qualifies under a treaty.
💼 Need Help to Set Up a 100% Foreign-Owned Company?
At BRW – Boonrawee Co., Ltd., we specialize in helping foreign investors legally own and operate businesses in Thailand, including:
- Company formation and registration.
- BOI promotion consulting and application.
- Legal compliance and structuring.
- Tax and accounting advisory.
📞 Contact us today for a free consultation and make your investment in Thailand simple and successful!
