Foreigners operating businesses in Thailand must follow the Foreign Business Act B.E. 2542 (1999). Foreigners are not allowed to operate the types of business or activities stated in List 1 because of special reasons; there are also prohibited activities stated in List 2 that are designated as businesses related to national safety or security, as well as some activities stated in List 3 designated as businesses in which Thai nationals are not ready to compete with foreigners. 

       In practical terms, however, it has been found that Thai people are able to compete with foreigners in some businesses, so the entrance of foreigners contributes to more income generated from more investments, helping the Thai economy expand. The Ministry of Commerce issued the ministerial regulation prescribing service businesses not subject to application for foreign business permission B.E. 2556 (2013). The following service businesses are excluded from businesses specified in the List 3 annexed to the Foreign Business Act B.E. 2542 (1999): 

1. Securities businesses and other businesses under the law on securities and securities exchange: 

• Securities trading;
• Serving as investment consultant;
• Securities underwriting;
• Borrowing and lending securities;
• Mutual fund management;
• Private fund management;
• Venture capital management;
• Granting loans for securities business;
• Serving as financial consultant;
• Serving as a securities registrar;
• Trusteeship of assets of securities companies’ or derivatives traders’ customers;
• Serving as a private fund custodian;
• Serving as a mutual fund supervisor;
• Serving as a debenture holders’ representative. 

2. Derivatives businesses under the law on derivatives: 

• Serving as a derivatives dealer;
• Serving as a derivatives advisor;
• Serving as a derivatives fund manager.

3. Serving as a trustee under the law on trust for transactions in a capital market. 

Source : Wonderfulpackage
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