We had a foreigner’s inquiry about setting up business of trading agricultural products in Thailand. Our experienced Thai lawyers provide initial consultation for free and here is our answer to his question regarding the steps.
If the foreigners just intend to set up a business of importing agricultural products to sell in Thailand, he will need to apply for a Foreign Business License with the Department of Business Development before he can operate the business. Most likely, he will need an import license for each types of products.
If he wants to export agricultural products from Thailand, then an FBL is not required. Foreigners who want to export products from Thailand can do the business without having to seek permission as prescribed by the Foreign Business Act. Note that he may have to get export licenses for different products he wants to trade.
Now the best form of doing business is to register a limited liability company and if the majority of the shares are owned by foreigners, then the registered capital must be at least THB 2 M. Contact us today for your business needs in Thailand.