21 Dec 2016
THAILAND: Business License Requirement Waived for Financial Services and Telecoms Sectors
Overseas investors in the financial services and telecommunication industries will no longer require foreign business licences to operate in Thailand, once amendments to the country’s Foreign Business Act (FBA) come into effect.
This latest move follows an earlier announcement that four other sectors - commercial banking, representative offices of foreign banks, life insurance, and non-life insurance – would similarly be exempt from this requirement under the Foreign Business Act (FBA).
It is important to note that other licensing and shareholding limitations established by the regulators for foreign business owners, including Bank of Thailand as in the financial sector, may still apply. For further details, see Foreign Business Licences No Longer Required in Four Banking and Insurance Sectors.