Doing Business in Thailand as a Foreigner: Options and Rules 2026

A business in Thailand for a foreigner can be set up in several ways: with real Thai partners, through BOI investment support, under the treaty with the United States, or by buying an existing business or franchise. Remote work and real estate investment are separate scenarios. The route is chosen based on the activity, the customer market, citizenship, the owner’s role, and the required ownership stake, and then compared against the budget.

A company, investment support, a visa, and the purchase of an asset each serve different purposes. Owning a share in a company does not automatically give you the right to work there personally, and visa status does not replace permits for local business activity. That is why it is better to start by describing the project, not by searching for a “turnkey company.”

Current as of October 2026. This material helps compare options and does not replace legal advice for a specific project; conditions may change. Check the applicable rules in official sources.

What business options are available to foreigners in Thailand

So where does the choice begin? With the field of activity and the required ownership share. Then determine who will do the work and where the customers will come from: these questions help distinguish an investment from an operating business.

If you have decided to open a business in Thailand through a new legal entity, the next guide to read is — company registration in Thailand. Buying an existing company changes what needs to be checked, but does not remove the need for checks.

Foreign Business Act (FBA): shares and new exemptions

The Foreign Business Act (FBA) cannot be reduced to a universal ban on foreigners owning a majority of shares. Assessing a project requires a sequence: ownership structure → specific activity → restrictions → exemptions and permits. Without a description of the business, a single share tells you little.

The official Investor Service Center (OSOS) describes Thai majority as Thai ownership of 51% or more of shares. When describing a foreign company, the explanation considers a foreign stake above 49%. These are wording from the center’s reference answer, not a verbatim legal definition applicable to every situation.

As of October 2026, the Public Relations Department of Thailand (PRD) reports the exemption of seven additional types of services from the requirement to obtain an FBL. Details are given in the government announcement on the exemption of services from FBL.

According to the department, the regulation was published in the Royal Gazette on August 28, 2026. This is the publication date: it cannot automatically be taken as the date the measure takes effect. The FBL exemption also does not mean exemption from other permits.

The practical conclusion is simple: check not only the shareholder makeup but also the content of the services. For a project with several lines of activity, ask a lawyer to assess each one separately, so that an exemption for one service does not turn into an assumption that the whole business is free to operate.

Company with Thai partners: ownership and personal work

A Thai Limited Company can suit a joint business. Here you need a partner who genuinely takes part in the business: invests funds, understands their role, and participates in agreed decisions. A formal name on the shareholder list is not enough.

Before registration, discuss the source of the partner’s contribution, the distribution of profits, the director’s powers, and the decision-making procedure. It is useful to work out in advance how a participant exits, how a stake is sold, and what happens in case of disagreements. These are management questions, not a promise of safe control for the foreigner.

Owning a stake and working personally are different questions. Separately assess how the company is managed, who carries out day-to-day tasks, visa status, and extension of stay. Even if the owner does not receive a salary, a description of their actual activities remains material for legal assessment.

As of October 2026, the professional reference PKF gives benchmarks for the scenario under consideration of obtaining work permits: registered capital of at least 2 million baht per foreign employee and at least four Thai employees per foreign employee. The reference allows exceptions, in particular for companies with BOI support. These benchmarks cannot be carried over to every registration, visa, or regime.

The general procedure is covered in the work visa and work permit. If your question is specifically about employment authorization, see the separate guide work permit for foreigners.

Investment support (BOI) and FBL license: conditions and stages

A foreign business license (FBL) concerns permission to engage in the relevant activity. The Board of Investment (BOI) considers support for a suitable investment project. These mechanisms serve different purposes and do not cover all grounds for foreign majority ownership.

The official BOI criteria for the project categories under consideration provide for no restrictions on foreign participation, except for restrictions under other laws. At the same time, BOI may set limits on participation for certain types of activity. The name of an industry alone does not yet confirm eligibility for support.

The BOI material lists full foreign ownership and exemption from corporate income tax for up to 13 years among the program’s opportunities. The maximum term does not become a standard term for all projects. Permission to own land for supported activities also depends on a separate basis and conditions.

As of October 2026, the stages look like this:

• The regional BOI office indicates that project review takes 40–90 working days.
• A government instruction separately provides for issuing the certificate within 10 working days after receiving the certificate application and a complete set of supporting documents.
• Consultation on filling out and submitting a BOI investment promotion application is free of charge.

These stages cannot be added up into a guaranteed timeline for opening a business. Free submission also does not mean free intermediary support: such services are discussed separately.

Before choosing a route, compare the support conditions with your project and your ability to meet them. Full ownership may be attractive, but the entire regime has to be assessed: permitted activities, restrictions, and project obligations.

Treaty with the United States (Treaty of Amity): a separate route

The Treaty of Amity and Economic Relations between Thailand and the United States is a separate option for American applicants. According to an explanation from the financial service Statrys, the treaty was signed in May 1966. The material describes companies with American participation of at least 51% and the possibility of up to 100% foreign ownership.

The service explains that such companies can operate on terms comparable to Thai companies. But this is not a promise that every activity is available: the route’s applicability must be assessed based on the shareholders and the project. Having an American passport does not replace registration.

The report of the Department of Business Development (DBD) confirms the issuance of foreign business certificates under this treaty. The certificate is part of the route, so buying shares and obtaining the required status should not be merged into a single step.

The treaty is not equivalent to a set of BOI benefits. According to a legal explanation from the specialized portal ThaiLawOnline, it also does not provide grounds for acquiring land the way a real estate ownership agreement would. Choose this route for the suitable regime of activity and ownership, not in expectation of automatic tax holidays or a quick launch.

Ready-made business, shelf company, and franchise: what you are buying

Behind an offer of a “ready-made business” there can be different deals. An operating business, a registered company without confirmed activity, and a franchise agreement are different objects of purchase. First find out exactly what is included in the price.

A shelf company provides an existing legal entity, but the registration itself does not confirm the absence of debts or the right to conduct the required activity. A going business may include assets, contracts, and staff. A franchise provides a contractual model for using a brand and support on agreed terms.

A cool head is more useful here than haste. Before the deal, arrange for the following to be checked:

• whether you are buying company shares or individual assets;
• who the real owners are and which obligations remain in place;
• licenses and the conditions for their use after the deal;
• the lease agreement and relations with the landlord;
• debts and obligations to employees;
• brand rights, payments, royalties, and franchise restrictions.

Due diligence before the deal is part of preparing the purchase. Do not count on automatic transfer of permits, an immediate lawful launch, or the franchise meeting BOI requirements.

Separately, compare the contract with the seller’s promises. If the offer rests on the phrase “everything is already arranged,” ask a lawyer to link each such claim to a specific asset, document, or deal term. This helps you understand not only the price but also the buyer’s future burden.

Online business and the DTV visa: financial conditions and limits

Remote work for overseas clients is conveniently considered separately from a local business. The Destination Thailand Visa (DTV), a long-stay visa, does not register a company and does not serve as a universal permit to serve the Thai market. What matters is the nature of the work, the clients, and the applicable legal regime.

As of October 2026, the general memo of the Ministry of Foreign Affairs of Thailand lists for the DTV:

• validity — five years;
• multiple entries;
• length of stay — up to 180 days per entry;
• financial proof — at least 500,000 baht;
• visa fee under the general memo — 10,000 baht.

The financial threshold should not be replaced with a requirement for a certain annual income. Nor should funds for financial proof be mixed up with the visa fee: these are different conditions.

The Thai Embassy in Washington has its own fee: 400 US dollars for submitting a DTV application. The embassy also requires bank statements for the last three months. These conditions apply to this place of submission; we recommend checking the current cost with the consulate you choose.

The difference between the general memo and the consular page clearly shows why a single price cannot be applied to every application. At the same time, neither the fee amount nor getting the visa itself answers the question about local clients. Detailed DTV visa requirements will help you work through the visa part, and assess the activity separately.

Real estate: investment and ownership restrictions

Buying a condominium unit and a long-term lease are alternatives to an operating business, but with their own conditions. Here you acquire or lease an asset rather than automatically gaining business status. The possibility of renting out the property and the related obligations require separate assessment.

Do not choose an option based only on a promise of returns. Compare the rights to the property, contractual restrictions, maintenance costs, and the planned management. Rental income is not guaranteed by the fact of purchase, and a lease extension cannot be treated as automatic.

Foreign ownership of land is restricted, but the absolute wording “a foreigner cannot own land” hides certain exceptions. The BOI guide explains: investors with investment promotion may be allowed to own the land needed for the supported activity. This is an option under a specific regime, not a general right of any foreign buyer.

For comparing purchase and lease, the guide to buying property in Thailand. When discussing the deal, separate citizenship, the buyer’s status, and the property’s legal regime from the question of tax residence: the latter alone does not determine the right to acquire property.

Budget and taxes: capital, costs, and company profit

Doing business in Thailand as a foreigner requires a budget for launch and ongoing operations. A company’s capital is not the same as the registration price. In your financial plan, separate government fees, support services, industry-specific permits, rent, salaries, bookkeeping, and audit.

Ask for proposals with a clear breakdown of services. A one-time registration price says little about costs after launch if staff, premises, or accounting are excluded from it. To compare routes, it is more useful to see the individual cost items than a single all-inclusive “turnkey” sum.

As of October 2026, the professional tax guide (PwC) gives the standard corporate income tax rate 20%. The reduced tax scale applies when the following conditions are met at the same time: paid-up capital on the last day of the accounting period does not exceed 5 million baht, and revenue from sales of goods and services for the period does not exceed 30 million baht.

For eligible companies, the scale applies to portions of net profit:

The conditions and scale are set out on the official page of the Revenue Department. Calling yourself a small business is not enough to automatically qualify for the relief: the appropriate capital and revenue are needed.

A separate question is the owner’s taxes. The company tax does not describe the full burden on the person receiving income; understanding the distinction will be helped by Thailand tax system for expats.

Nominee shareholders and checks before investing money

Thai participation only on paper in order to get around restrictions is a serious risk. The law firm Juslaws warns of possible liability for Thai individuals who help foreigners run restricted businesses, including through holding shares in their name. What needs to be checked is the partner’s real participation, not just the record of a stake.

As of October 2026, the professional explanation from BDO lists possible sanctions: fines 100,000–1,000,000 baht, additional daily fines 10,000–50,000 baht until the violation is remedied, imprisonment of up to three years, a combination of penalties, and forced closure of the business. These are possible consequences of violations, not an automatic outcome of any dispute over shares.

The phrase “everybody does it” does not replace checking. Before transferring money, examine the origin of the partner’s contribution, their participation in decisions, and whether the documents match the real relationship. A promise to keep control must not hide a nominee arrangement.

To choose a route, go through this checklist:

• Activity: what will the company sell and to whom?
• Stake: what level of participation do you need and on what basis?
• Budget: are launch and ongoing costs included?
• Citizenship: does a separate treaty route apply?
• Timing: what steps come before work can begin?
• Goal: an operating business or the acquisition of an asset?
• Partner: are the contribution and real participation confirmed?
• Management: are the director’s powers clear?
• Permits and deal: what is required for the activity and what exactly is being acquired?

The result of such a check is a concrete project structure with clear terms. It is worth discussing before leasing premises and taking on obligations to the seller.