Thailand BOI guide
BOI foreign ownership
Promotion is one lawful route to foreign majority ownership; the Foreign Business Act still frames the rules.
The starting point: the Foreign Business Act
Thailand restricts foreign participation in listed business activities. A company is treated as foreign based on shareholding, and restricted activities require a licence or an exemption.
Routes to foreign majority
In practice, foreign investors reach majority or full ownership through BOI promotion, a Foreign Business Licence or Certificate, treaty arrangements where applicable, or by operating in activities that are not restricted.
- BOI promotion for a promoted activity
- Foreign Business Licence or Certificate
- Treaty-based structures where the investor's nationality qualifies
- Unrestricted activities such as most manufacturing
Nominee shareholders are not an option
Using Thai nominees to disguise foreign control is unlawful. It exposes the investor to criminal liability and makes the asset unsellable. Any adviser suggesting it should be replaced.
BOI eligibility depends on the specific activity, project and current regulations. This page provides general information and is not official BOI advice.