Thailand Business and Company agreements: Online document Service & Legal

Most business activities in Thailand are restricted for foreigners and fall within the scope of one or more laws or regulations which require special regulation or license (e.g. Foreign Business Act). Businesses falling outside the FBA (unless subject to restrictions and requirements under other laws) may be operated freely by foreigners.

		It could be illegal for foreigners to form a Thai company with Thai 'nominee shareholders' (e.g. conflict with the FBA).
		Foreigners are allowed to control a majority Thai owned (Thai) company, and have majority voting rights through the Articles of Association of the company.

Limited companies in Thailand have basic characteristics similar to those of Western corporations. A private limited company is formed through a process which leads to the registration of a Memorandum of Association (Articles of Incorporation) and Articles of Association (By-laws), as its constitutive documents.

		Company formation document preparation (including company Thai name search and registration)
		Articles of Association drafting & preparation service
		Thai company document translation (Thai/ English)
		VAT and Tax ID registration
		Share transfer agreements
		Business sale agreements
		Confidentiality agreement
		Partnership agreeement
		Joint venture agreement
		Shareholders agreement

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Foreigners are generally restricted to do business in Thailand by the Foreign Business Act (FBA). The FBA divided various types of business into three categories and subjected each category to different limitations with respect to foreign ownership. The Foreign Business Act in Thailand divides businesses into three categories:
	Generally those businesses listed in Category 1 are absolutely prohibited to foreigners unless there is an exemption contained in a special law or treaty.
	Category 2 refers to businesses owned by aliens that were in existence and actually operating prior to the enactment of the Foreign Business law. These businesses were permitted to apply for a special Alien Business license and to continue operating. Foreigners, however, are not permitted to start new businesses listed in this category unless they obtain special permission from the Minister with the approval of the Cabinet.
	Category 3 businesses are treated in a manner similar to those in Category Two except that the power to grant an Alien Business License to foreigners who wish to start a new business is vested with the Director General and a committee.
		If a majority of the shares of a limited company are held by Thais, it is regarded as a Thai company and thus not subject to the FBA. This means that foreigners are generally allowed to participate up to 49% in a company engaged in restricted businesses. Beyond that, the approval requirement must be complied with.
		Separate laws control the foreign ownership of land as well as such activities as banking, insurance, finance and shipping.
		Exemptions are possible under the Treaty of Amity and Economic Relations between the Kingdom of Thailand and the United States of America. Also, the Board of Investment may grant exceptions for businesses covered by Lists Two and Three.

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