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Thai Corporate Services for Foreign Cannabis Businesses

Transcript of the above video:

We have been talking a lot on this channel about the changes in the Laws pertaining to Cannabis in Thailand and these changes are very substantial. It is definitely a sea change with respect to policy in Thailand and we have definitely seen a lot of economic impact that's been had since the legalization of Cannabis back in I believe it was June of 2022. It's been really quite a bewildering pace to kind of keep track of where all this is going which has kind of caused me to sort of forget the fundamental reason for the channel which is to remind people that on a certain level this is informational, on a certain level is promotional but it's also just kind of there to remind people that we are here to provide legal services and corporate services and yeah in the Cannabis space as well. 

Now foreign nationals are not going to be able to enjoy the same benefits as Thai nationals with respect to the Cannabis business and the Cannabis space. You have got to remember you are dealing with agriculture here. On top of that, the rules that have come down already, specifically preclude foreign nationals from ownership in Cannabis businesses over a certain amount most notably one third. We have discussed that in other videos and cited that and that's sort of what you looking at as far as ownership structure. It's not the standard 49/51. When this was brought in some years ago and they were just talking about it sort of on a conceptual level they talked about that, and that has come down with us until now.

That being said, there are multiple ways in which foreign businesses or foreign nationals wishing to get into the Cannabis space can do so. That said, there are legal requirements to meet not least of which being things like Work Permits, Work Authorization, Business Visas, those are obvious. Then you have got things like the actual corporate setup itself as well as certain types of documentation pertaining to the corporate entity again, not least of which being the Controlled Herb License for example if you are dealing with sort of a retail operation. Again, there are other operations that may be again circumstantially dependent, may be set up here in Thailand and again those who are looking into that, it is probably not a bad idea to contact a legal professional, gain some insight and guidance into how best to proceed.