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Shareholding is a Starting Point, not a Conclusion In disputes concerning the governance of a Thai company, the parties typically commence by examining the share register. This approach is understandable because the register indicates legal ownership, demonstrates the formal allocation
A nominee shareholder arrangement occurs when a Thai national holds shares in a company on behalf of a foreigner in order to circumvent foreign ownership restrictions under the Foreign Business Act. Such arrangements are illegal under Sections 36 and 37 of the Act and can result in criminal penalties for both the Thai nominee and the foreign beneficiary. … Read More
Thailand is considering significant reforms to the Foreign Business Act that could remove licensing requirements for several service industries. The proposed changes may make it easier for foreign investors to operate software development, treasury centre and intra-group management businesses in Thailand without obtaining a Foreign Business License. … Read More
For many years, the incorporation of Thai companies was regarded primarily as a routine compliance exercise. While Thai law has long prohibited nominee arrangements under the Foreign Business Act (FBA) and related legislation, substantive scrutiny of ownership structures often occurred
1. Overview On 22 January 2026, the Ministry of Interior published a new Ministerial Regulation replacing the 1960 rules governing Public Wills and related inheritance declarations. The regulation took effect on 24 March 2026 (60 days after publication). This modernisation
Sequencing State Policy and Telecom Licensing in a Layered Regulatory Framework Foreign satellite operators evaluating Thailand are not facing two separate regulatory regimes. They are navigating a layered framework in which telecommunications licensing and state-level policy considerations operate within the
Thailand’s strategic location and economic incentives make it an attractive destination for foreign investment. However, navigating its regulatory landscape requires careful planning, particularly when establishing a joint venture (JV), commonly referred to as a “Thai Majority Company”. This guide synthesises
Formichella & Sritawat is pleased to announce its contribution to the Technology M&A 2026 edition of the Chambers and Partners Global Practice Guide. … Read More
Thailand’s move toward implementing the 15% Global Minimum Tax (GMT) under the OECD/G20 Pillar Two framework, which Thailand is in the process of implementing through legislative and administrative measures, has implications that extend well beyond tax compliance. For Thailand’s retail
Thailand is an economic powerhouse in Southeast Asia, a vital hub for trade, investment, and regional connectivity. However, Transparency International’s 2024 Corruption Perceptions Index ranks Thailand 108th out of 180 countries, underscoring that bribery remains a significant challenge for enterprises