The Foreign Business Act Issue
Trading is on List 3 of the Foreign Business Act – meaning foreign-majority companies need a license to do it. The license requires 3 million baht minimum capital, a detailed business plan, and DBD committee approval. It takes 2-4 months and isn’t guaranteed.
Alternatives: BOI promotion (if you qualify), Thai-majority company structure (51% Thai ownership), or US-Thai Treaty of Amity (for American companies).
Customs Compliance
All importers and exporters must register with Thai Customs and use the electronic declaration system. Keep records for 5 years – the Customs Department can audit you anytime. Mis-classifying products or undervaluing imports leads to fines and potential criminal charges.
We assist with customs registration and connect you with licensed customs brokers for the logistics side.