Foreign Business Law in Thailand 'Proposed Amendments'

Foreign Business
amendments to the thailand FBA

To deal with the use of nominee shareholders by foreigners the previous government proposed to include foreign voting rights and control in the foreigner definition of a Thai company under the FBA (Foreign Business Act). The amendments were approved and passed the parliament and National Legislative Assembly with an overwhelming majority of votes, but were again withdrawn by the previous government.

Foreign Business Nominee Company Shareholder

Limited Company
nominee shareholders in a Thai company

A limited company in Thailand must have a minimum of 3 shareholder at all times. Thai nationals operating a business under a company often use nominee shareholders to complete the number of 3 shareholders in the limited company. There is no general restriction for Thais that prohibited the use of nominee shareholders in a business. This is different for foreigners. Foreign investors are prohibited from using nominee shareholders in a Thai company under the foreign business act. Also bearer shares (shares owned by whoever holds the physical share certificate) are prohibited.

Nominee

in Thailand legal definitions meaning a Thai person or Thai company in whose name a property or company shares are registered but who acts on behalf of another, the actual or beneficial (foreign) owner (read more...).

Prohibited Occupations - Thailand Work Permit

Prohibited Occupations 
and Work‑Permits in Thailand (2025 Update)

A work permit is issued by the Department of Employment (DOE), Ministry of Labour. It is personal: one foreigner, one clearly described job, one employer, one location.