Applying For a Foreign Business License in Thailand

When it comes time to establish an enterprise in Thailand, the first step is to apply for a foreign business license. Before you can apply for a foreign business license, you need to be familiar with the requirements and penalties for operating your business without one. Also, you must be aware of the exemptions to the requirement. This article provides information about the requirements for foreign business licenses and the exemptions.

Application for a foreign business license to Thailand

If you are planning to start a foreign-owned business in Thailand there are some prerequisites you must meet in order to get an authorization. These include proof of competency and the age requirement. Foreign managers and investors must also have permanent residency in Thailand or a temporary permit. Additionally, they should not have been convicted of any crime under the FBA within five years prior to applying for a license.

Completely submitting a form is the first step towards obtaining an international business license in Thailand. The department of business development will look over the application and recommend it to the Minister of Commerce. After approvingbusiness license Thailandto Cabinet, the license will be issued. The whole process should take about 15 days.

Operating a Thai business without a foreign permit could result in severe penalties

Penalties for running a business in the Kingdom of Thailand without a foreign business license could result in penalties and jail sentences. The primary person accountable for the operation of a business could be jailed for three years. Directors and partners of a company can also be imprisoned.

A Thai company operating in a foreign nation without an international business license might find itself in trouble, and could be even liable in their home country. Foreigners should speak with a certified legal professional prior to establishing their business.

Requirements to obtain an international business license

If you'd like to do business in another state, you'll need apply for a foreign business license. The procedure is similar to filing articles of incorporation or articles of association. You'll need to submit your documents online or via mail. Depending on the state the turnaround time could differ significantly. In order to shorten the time, it's wise to submit your documents as soon as you can.

The Foreign Business License application process can be time-consuming and complicated. A majority of foreign investors don't take the time to complete the procedure. However, if you're looking to run a business in a different state it is important to understand the requirements.