No requirement for foreign licence in 3 businesses
The decision of the Ministry of Commerce (“MoC”) to propose removing the following three businesses from the list was made to facilitate foreign investment in Thailand.
Keywords: Mazars, Thailand, Ministry of Commerce, Foreign investment, Licence, Telecommunications, software, IT security, Treasury centre
21 December 2020
A draft Ministerial Regulation was submitted to the Cabinet for consideration and approval.
Details of the three businesses are as follows:
- Telecommunications licensed under category 1 of the telecommunication laws – Telecommunications where the business operator does not have its own telecommunications network and the services can be freely provided.
- Treasury centre under the exchange control laws for subsidiaries and affiliated companies – It is not clear if the MoC will adopt criteria for defining a related-party transaction as applying to the provision of a domestic loan, the lease of office space, the provision of advice and support for administration, marketing, human resources, and information technology to subsidiaries and affiliated companies.
- Software development by legal entities registered in Thailand – Software development covers only the following four areas:
- the development and provision of services related to analysis and linkage software for data management.
- the development of information technology security and cybersecurity software.
- the development of software for controlling or connecting high-tech equipment and managing business processes; and
- the development of software for supporting manufacturing processes.
Reference: Department of Business Development
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