May a foreigner owns 100% shares of a thai company?
In the following case it is possible for a foreigner to own 100% of the shares of a Thai Limited Company:
- Manufacturing: Nearly all manufacturing activities (but for a few exception like Buddha images, gun, munitions) can be done on a 100% foreign ownership
- BOI Promoted Activity: If an activity is BOI promoted it may be exercised under the form of a 100% foreign ownership company (it takes between 2 to 4 months to do a BOI)
- Foreign Business License: It is possible to apply for a Foreign Business License and to obtain the privilege of foreign ownership (it takes between 4 to 8 months to do a FBL. Activity needs to fulfill the Know How criteria. Pizza shop will not
- US Amity Treaty: It is possible for a US citizen to set a 100% US owned company but for 7 sectors of activities
How many local directors and how many % do they need to hold.
In Thailand you can be a director without being a shareholder of the Company. As to the number of local directors it depends again of the activity. For some activity we need a majority of Thai directors (for example company that owns and operate commercialy a boat need to have 75% of thai shareholders and a majority of thai directors) but otherwise it is not mandatory to have a Thai director. A company will need a Thai director to assist with formalities until such time when the foreign director has a work permit
Can a foreign own land in Thailand (Condo, Factory or land)
Foreigner can own condominium and building but not land but for two exceptions. A foreigner that invests 40,000,000 THB in Thailand (not included the price of the land and house) can own 1 Rai of land freehold. A foreign company that applies for the BOI can receives the privilege of land ownership for the fulfillment of its purpose (factory land, land to build dormitory for its employees etc…)
Do not hesitate to contact me at corporate@offshorepremium.com if you have more questions.
Originally posted 2012-08-08 07:20:55. Republished by Blog Post Promoter
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