Thailand

Thailand

Thailand exempts foreign business from license requirement in certain banking and insurance industries

19 Feb 2016

Thailand's Ministry of Commerce has issued a ministerial regulation exempting certain banking and insurance industries from the restricted business activities under Schedule 3 of the Foreign Business Act. Foreign companies in (1) commercial banking, (2) representative office of foreign bank, (3) life insurance, (4) non-life insurance will no longer require a foreign business license to operate, though they will still be subject to licensing and foreign shareholding limit requirements under specific regulations. The new regulation is effective from 19 February 2016.

Nature of measure:
  • Facilitation
Type:
  • Entry and establishment (Approval and admission - other)
Industry:
  • Services (Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources: