Personal qualifications necessary for foreigners wanting to operate a business in Thailand, according to the Foreign Business Act

       Thailand is one of an assortment of countries giving foreigners an opportunity to operate a business. However, the Foreign Business Act B.E. 2542 (1999) prescribes that foreigners applying for a business license must have the following personal qualifications:

1. Being not younger than 20 years old;
2. Having residency in the Kingdom or being permitted to temporarily enter into Thailand under the immigration law; 
3. Being neither incompetent nor quasi-incompetent;
4. Not being a bankrupt; 
5. Never having been punished by a court judgment or fined for an offense under this Act, unless they have been released at least 5 years prior to the date of the license application; 
6. Never having been imprisoned for fraudulent acts, creditor cheating, embezzlement, an offense connected to trade under the Criminal Code, unless they have been released at least 5 years prior to the date of the license application; 
7. Never having their license revoked under this law.

       In case of a juristic person being the license applicant, the foreign directors, managers or persons responsible for its operation must also have the qualifications and may not have the prohibited characteristics mentioned in this Act.

Source : Office of the Council of State
Tel : +66 2221 5306