How to Get a Foreign Business License (FBL) in Thailand – 2025 Step-by-Step Guide

How to Get a Foreign Business License (FBL) in Thailand – 2025 Step-by-Step Guide

Thailand’s Foreign Business Act B.E. 2542 (1999) restricts foreign majority ownership in many sectors. To legally operate with 50%+ foreign ownership in List 2 or List 3 activities, you must secure an FBL from the Ministry of Commerce. This 2025 guide covers eligibility, requirements, procedures, and legal tips—ensuring full compliance and maximizing your approval chances.

🧾 What Is an FBL?

An FBL is a licence that allows foreign nationals or foreign-majority companies to engage in business activities listed under List 2 (restricted with Cabinet approval) or List 3 (limited-competition services) of the Foreign Business Act.

✅ Who Needs an FBL?

You require an FBL if:

• You hold 50% or more foreign ownership

• Your business operates under List 2 or 3 of the FBA

• No other exemption applies (e.g., BOI, Amity Treaty)

🧭 FBL Application Process (2025)

Step 1: Confirm Eligibility

• Verify business activity falls within List 2 or 3 of the FBA 

• Ensure leadership qualifies per Section 16 (age 20+, non-bankrupt, no disqualifying criminal record, etc.)

Step 2: Register Your Company

• Create a Thai limited company with your intended foreign shareholding

• Minimum capital requirement: Typically ≥ 2M THB, possibly higher depending on sector

Step 3: Assemble FBL Dossier

Submit to the Foreign Business Administration Division, DBD, Ministry of Commerce, including:

• Company affidavit, objectives, shareholder/documents

• Full business plan, feasibility study, org chart

• Staffing plan (Thai employment/training)

• Directors’ resumes and passports

• Office lease & location map

• 3–5 year financial forecasts

• Evidence of benefits to Thailand (jobs, tech transfer, investment)

All documents must be in Thai or officially translated.

Step 4: Application & Interview

• Submit full package to Ministry of Commerce

• Undergo document screening, possible interview or clarification meeting

Step 5: Committee Review

• List 2 applications require Cabinet-level approval, typically 25–50% Thai ownership and Thai board directors

• List 3 is decided by the DBD Director-General with Foreign Business Committee review

• Timeline: 90–180 days (4–6 months). 

Step 6: Approval & Operations

• If approved, you’ll receive your FBL certificate

• You may proceed to apply for visas, work permits, and begin operations as licensed

• If rejected, you have the right to appeal or restructure

📌 Common Pitfalls to Avoid

Mistake	Risk
Generic business plan	High rejection risk
Weak Thai benefit claims	Reduced approval chances
Insufficient Thai staff	Non-compliant
Under-capitalization	Viewed as low commitment
Nominee shareholding	Illegal—fines, imprisonment, dissolution

💡 Pro Tips for Approval

• Emphasize Thai staffing and training efforts

• Demonstrate tech transfer or export potential

• Include support or endorsement letters from Thai partners or clients

• Use a local legal advisor to smooth Ministry interactions

🛡️ How GENTLE LAW IBL Supports You

We provide full-service FBL support:

• Eligibility check and strategy

• Full document preparation (Thai & English)

• Business structuring and forecasts

• Application submission and representation

• Interview prep, handling rejections and appeals

• Post-approval visa, work permits, and compliance support

🔚 Final Takeaway

An FBL allows foreign majority ownership in sectors usually restricted, but the process is lengthy (~4–6 months) and stringent. Thorough preparation, strong business rationale, and legal support are essential. With the right guidance from GENTLE LAW IBL, your Thailand business can proceed with full legal compliance—and confidence.

📞 Book your free FBL strategy session today.