Date: August 12, 2026

Can a foreigner own 100% of a company in Thailand?

Yes, but not for every type of business activity. Foreigners may own 100% of a Thai company if the business qualifies for BOI promotion, the US-Thailand Treaty of Amity, a Foreign Business Licence, or where the company carries on only unrestricted business activities. Otherwise, foreign ownership is generally limited to 49% for restricted activities.

What We See In Practice

I have a great business idea, but can I own my company or do I need a Thai partner?

WHAT CLIENTS ASK US

Many foreign entrepreneurs assume they can simply open any type of business in Thailand, only to find that some activities are subject to foreign ownership restrictions. That does not mean foreigners cannot own a company. Many businesses, including manufacturing and export, can be 100% foreign owned. Even where restrictions apply, full ownership may still be possible through BOI promotion, the US-Thailand Treaty of Amity, or a Foreign Business Licence.

Because the Foreign Business Act restricts many business activities, many people assume they need a Thai majority shareholder. If your business is eligible, applying for a Board of Investment (BOI) promotion is often the best option. It allows 100% foreign ownership, removes the usual four-Thai-employees-per-work-permit requirement, and may also provide valuable tax incentives. Although the application process may take a long time to complete, the benefits make it worthwhile.

If the company is not eligible for a BOI promotion, a Foreign Business Licence can also be considered. A Foreign Business Licence allows a foreign-owned company to perform restricted business activities under the Foreign Business Act. However, the application process can be time-consuming, and approval is difficult and never guaranteed. Eligible US citizens and businesses may also benefit from the US-Thailand Treaty of Amity, which allows majority or full US ownership in many sectors, provided the treaty requirements are met. Where none of these options are available, a properly structured joint venture with a trusted Thai partner may be the most practical solution.

Author: Vincent Birot

Vincent Birot is a French-trained international business lawyer based in Bangkok. He holds a Master’s degree in International Business Law from La Sorbonne and an LL.M in International Commercial Law from the University of Exeter (UK), and has passed the Paris Bar examination. He is the Founder of Belaws, a one-stop platform for legal and corporate matters, facilitating access to trusted legal and business professionals who deliver compliant, practical solutions aligned with local laws and on-the-ground realities. He has advised foreign investors for over 10 years on corporate structuring, BOI promotion, cross-border tax, and regulatory compliance in Thailand. He previously served as Vice President of the Franco-Thai Chamber of Commerce and is a founding member of French Tech Bangkok.