Plans to Amend the 1999 Foreign Business Act

by Admin on March 23, 2018

On Tuesday, the Business Development Department had announced plans to progress the law in terms of re-defining the foreigner aspect of the FBA. The aim of the amendment is to keep up with changing economic times whilst still looking after Thai investors and encouraging foreign investment says the department’s director-general.

A Thailand divorce agreement is a contract entered into by divorcing couples who can agree on important issues such as assets, child support and alimony.   

Amendments were supposed to happen around three years ago but foreign companies boycotted the “improvements” as it was meant to keep foreigners from controlling Thai companies.

The new Act will reconsider foreign management control, revisions for penalties and removing certain businesses from the list which foreigners may not operate. The Chairman of the Thai Chamber of Commerce disagrees with the amendments saying that the top priority should be “ease of doing business” that would attract foreign investment.

Read the full story here

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Feature FAQ: Proposed Amendments to the Foreign Business Act

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