Some people that do a company registration in Thailand also need to perform a foreign business license application. The foreigners that want to engage in businesses included in the lists 2 or 3 of the FBA in Thailand will require a foreign business license. This needs to be shared from the relevant authorities.
With it, you will be able to do company registration in Thailand. Without this license, you will be restricted from that. So yes, you have to take that into consideration and you have to avoid any rush the best way you can.
You can file the application with the Commercial Registration Department. This will be reviewed by the Foreign Business Committee or the Cabinet, depending on the situation. As you can imagine, not all applications will be approved.
They will take into account a variety of criteria in order to apply or ignore your application. This means they will want to focus on the pros and cons for the safety and security of the country, social development, local employment, how large the business will be and so on.
The authorities are bound to approve the business license for a foreigner if there are a lot of benefits coming from that particular person. If the foreigner is creating a business that promotes Thai interests, his business license will most likely be approved. If that’s not the case, then you may have to deal with quite the hassle as you pursue the license.
Is it easy to get such a license? Not that easy unfortunately. In fact, the application process tends to take quite a while and you never know the outcome. In fact, the foreign investors know this and not a lot of them go through this process to begin with. They will however try to submit a BOI application even if there are smaller chances than they would expect. That’s what the company registration in Thailand is all about in the end.
Another thing to note about the foreign business license is that you do need a professional to help you with it. Aside from taking a long time to get a resolution, applying for this isn’t a simple process either. It does take a while and it’s quite time-consuming to write the application and doing that the right way. It’s definitely not a simple process to pursue, but it’s bound to be more than worth it for you in the end. That’s up to you and how you handle this situation.
So, should you opt for the foreign business license application? If you want to start a company registration in Thailand, then yes, that will be a good idea. But even so, the results are hard to pinpoint and that can be quite the issue. In the end though, applying this way is well worth it and it’s bound to bring you a lot of great value. You should totally keep this in mind and apply to the foreign business license, as it does offer lots of great opportunities for you in Thailand!
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