New Ministerial Regulation for Service Businesses

The Ministry of Commerce has defined the non-restricted service businesses that a foreigner can operate without obtaining a foreign business license.

Keywords: Mazars, Thailand, Legal, Service Business, Restricted, Ministry of Commerce, Government Gazette, Foreign Business Act B.E. 2542

12 April 2013

This Ministerial Regulation was published in the government gazette on 18 March 2013 and was effective from this date onwards.

The list of service businesses which are not restricted under the Foreign Business Act B.E. 2542, List 3 (21) are as follows:

1)  The securities business and other businesses under the securities and stock exchange law:

    a)  Trading securities

    b)  Being an investment advisor

    c)  Underwriting

    d)  Business of borrowing and lending securities

    e)  Mutual fund management

    f)  Private fund management

    g)  Venture capital management

    h)  Providing credit for securities business

    i)  Being a financial advisor

    j)  Providing service as the securities registrar

    k)  Providing fiduciary functions for the securities company’s customers or the derivatives business operator’s customers

    l)  Being a custody of private fund

    m)  Being a trustee of futual fund's benefit

    n)  Being a representative of debenture stock holder

2)  The derivatives contract businesses under the derivatives contract law:

    a)  Being a derivatives broker

    b)  Being a derivatives advisor

    c)  Being a manager of derivatives fund

3)  Trustee business under the trust for transactions in capital market law.

Read the government gazette for more information.