Transcript of the above video: 

As the title of this video suggests, we are discussing Foreign Business Licenses versus Foreign Business Certificates. In light of recent crackdowns regarding nominees here in Thailand, which are illegal under Thai Law specifically the Foreign Business Act, we are seeing a lot of folks posing questions to us. I'm seeing stuff in the comment sections of various videos that we have done where they are sort of asking, "well what are the legal avenues for foreigners to own businesses in Thailand?" Oftentimes the implied notion being full ownership; so no need to have a 49/51 set up. 

Well the Foreign Business Act does allow for Foreign Business Licenses to be issued to certain types of businesses that are fully foreign-owned. It is discretionary and it depends on the underlying facts in the case. It also will depend heavily on the business activity and whether or not it is something that is considered restricted to Thai Nationals only, but it is possible to get a Foreign Business License. 

Now what is a Foreign Business Certificate? Well for those who are unaware, the Board of Investment here in Thailand can issue certain concessions to foreigners looking to do business in Thailand, or foreign business concerns. One of the concessions they can issue is what is called a Foreign Business Certificate. That allows for a foreign national or a foreign outfit to own the majority of shares on that type of company. Again it is discretionary; it is based on the Board of Investment. Also, Board of Investment routinely reviews the companies that have been granted concessions by the BOI in order to ascertain whether or not they remain in compliance and therefore can maintain their benefits. So the thing to understand about the Foreign Business Certificate is it is a little bit different insofar as it is issued by the Board of Investment as opposed to the Ministry of Commerce, specifically the Department of Business Development, that deals with matters pertaining to foreign business licensure.

That said, both of these should not be confused with benefits that can be derived under the US-Thai Treaty of Amity which I get into in other videos. It pertains to specifically Americans and provides national treatment to Americans looking to do business in Thailand, and a company can be certified under the Treaty in order to operate in Thailand notwithstanding the provisions of the Foreign Business Act. 

So there are multiple ways here in Thailand for foreigners to do business legally and maintain compliance with Thai Law.