Foreign ownership and the 49% rule

Under the Foreign Business Act, many service businesses must be majority Thai-owned, so foreigners usually hold up to 49% of a บริษัทจำกัด. Thai นอมินี who hold shares on paper only are illegal and a classic source of disputes. Legal routes to majority control include บีโอไอ promotion, a Foreign Business Licence, and the Treaty of Amity for US companies. For each foreigner's work permit, offices commonly expect 2 million baht of registered capital and four Thai employees (less if you're married to a Thai). Since 2023 a company needs only two shareholders. Rules change, so use a reputable accountant or lawyer, and always read a partner's หนังสือรับรองบริษัท.