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Four more businesses to be removed from Foreign Business Act annex

Dec 05. 2019
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By THE NATION

The Department of Business Development has discussed its plan to remove four more restricted businesses from the list annexed to the Foreign Business Act of 2542, with the Board of Investment (BoI), the department's deputy director-general Poonpong Naiyanapakorn has said.

These are the type 1 licence of the telecom business and the treasury centre; the aviation maintenance business in relation to certificates for Type 2 and Type 3 of the maintenance unit; and high-value-added software development service. 

The Type 1 telecom licence is for telecommunications business operators without a dedicated network.

The department has already removed 45 restricted business types from the list to make things easier for foreigners, who want to work in these fields in Thailand.

The Act bans foreigners from conducting businesses on the list unless they obtain permission from relevant authorities.

He added that the department would also review the restricted businesses on the list more often instead of once a year.

The department will also connect its database with BOI with the aim of awarding business certificates to foreign investors within one day. Under current rules, it is required to do so within 30 days.

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