business

Thailand: 5 business to liberalize ?

Thailand’s Department of Business Development (DBD) is currently reviewing the possibility of liberalizing five businesses under List 3 of the Foreign Business Act B.E. 2542 (1999) (FBA), which currently restricts foreigners from having ownership of more than 49%. The Media (Bangkok post) on 17th June annunced the business to liberalize: (1) accounting services; (2) legal services; (3) money lending services; (4) space leasing and facility services; and (5) consultancy services. According to government sources, it should be noted that the to-be-liberalized five businesses may only be provided by an entity to an affiliated company or within the entity’s group of companies. If the entity wishes to provide any of these services to a party that is not an affiliated company or outside the entity’s group of companies, the entity has to apply for a foreign business license from the DBD. Now we have just to wait. For further information write to us!