Although foreigners are allowed to invest in Thailand, there are laws and regulations about businesses reserved for Thai nationals only, so foreigners may not hold more than 49% of the registered capital in those businesses specified in the lists annexed to the Foreign Business Act B.E. 2542 (1999). 

List 1 contains businesses not permitted for foreigners to operate, owing to special reasons: 

1. Newspaper, radio, and television broadcasting business;
2. Rice farming, field crops farming, or orchard farming; 
3. Animal farming; 
4. Forestry and timber from natural forests;
5. Fishery, exclusively aquatic animals in Thai territorial water and Thai specific economic zones;
6. Thai herbal extraction; 
7. Trade and auction in Thai antiques or objects of historical value to Thailand; 
8. Manufacturing or casting of Buddha images and alms bowls;
9. Trade in land. 

        The law prohibits foreigners to operate such businesses, unless there is an exemption contained in a special law or treaty.

Source : Wonderfulpackage
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