Invite ambassadors from 19 countries to explain Thai alien laws.

Nonthaburi, The Director-General of the Department of Business Development invited representatives of embassies and international agencies from 19 countries to explain laws and guidelines for facilitating foreign investors to invest in Thailand, alon…


Nonthaburi, The Director-General of the Department of Business Development invited representatives of embassies and international agencies from 19 countries to explain laws and guidelines for facilitating foreign investors to invest in Thailand, along with introducing e-Foreign Business services. New online for foreign investors

Mrs. Oramon Sapthaweetham Director General of the Department of Business Development The Ministry of Commerce revealed that ‘On May 20, 2024, the Department of Business Development Held a meeting on ‘Thailand’s Foreign Business Act, Update on Revision and Introduction of e-Foreign Business Service’ by inviting representatives from various embassies. international agency and government agencies, totaling 19 agencies, 36 people, such as the Australian Embassy British Embassy EU Chinese Embassy Japanese Embassy Joint Foreign Chambers of Commerce in Thailand (JFCCT),Japan External Trade Organization (JETRO Bangkok),Korea Trade-Investment Promotion Agency (KORTA Bangkok), European Associ
ation for Business and Commerce (EABC) Office of the Board of Investment and the Department of International Trade Negotiations, etc., to hear information about the essentials of the Foreign Business Act B.E. 2542, the process for applying for a license/certificate for foreign business operations. as well as supervision of business operations of foreign investors. To create awareness of the importance of the law and create understanding of the law Including providing information on facilitating foreign investors. in order to conduct business in Thailand under the supervision of this law

This is an overview of the mission of the Department, which is divided into 3 important parts: business establishment registration; Promoting and supporting entrepreneurs, including SMEs, and supervising entrepreneurs to conduct business with good governance. By conducting yourself correctly according to relevant regulations or laws. As for the Foreign Business Act of 1999, which is an important law that regulates the busines
s operations of foreign investors. Since the company establishment process Specify the types of businesses that are regulated by law. Process for requesting a business license/certificate As well as supervising foreign investors to comply with the conditions or criteria according to the law.

The Department places importance on facilitating foreign investors. It is preparing to open a new online system ‘e-Foreign Business’, which is a system for applying for permission to operate a business by foreign investors under Foreign Business Operations Act which will be ready for full service in July 2024. It will provide a complete electronic service, including filing applications for licenses/certificates of business operations of foreigners through online channels. Electronic payment (e-Payment), electronic receipt (e-Receipt), electronic signature (Digital Signature), issuance of electronic license/certificate (e-Foreign Business License/e-Foreign Certificate). The service can download licenses/certificates via o
nline channels immediately. The e-Foreign Business system will reduce the amount of documents, shorten the time, and provide great convenience to entrepreneurs/service recipients. It is another way to create a good atmosphere for investment.

In addition to opening the new online service system, the Department is also reviewing/improving business types according to the list attached to the Act. annually When any business is removed from the list attached to the Act, foreign investors do not have to apply for permission to do that business. This is considered to be a convenience for foreign investors. Information has been given on the progress of the review of 10 businesses listed in the Act, which are currently in the process of finalizing the draft ministerial regulations specifying businesses that do not require permission. and draft Royal Decree amending the wording of businesses which has already been listened to and presented to the Minister of Commerce and the Cabinet for further consideration.

This is
due to the current news that there are foreign investors coming to do business. They may act incorrectly or may not understand the conditions or criteria according to Thai law, that is, foreign investors conduct business by avoiding the law. Use Thai people to hold shares instead (nominates). Therefore, when inviting agencies Attend this meeting I have tried to create understanding. Awareness and disseminate correct information to foreign investors in order to conduct business correctly. It is to build confidence for foreign investors to have a comprehensive understanding of investing in Thailand legally and comprehensively. more spacious and hope that representatives of various agencies This will be disseminated and understood to investors in their own countries so that they can continue to do business in Thailand with good governance.

Source: Thai News Agency