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Thailand eases foreign business red tape in eight sectors to cut regulatory overlap

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Deputy Government Spokesperson for the Prime Minister’s Office, Patdarasm Thongsaluaykorn | Photo via Thairath

Thailand’s Cabinet has approved in principle two pieces of draft subordinate legislation under the Foreign Business Act 1999, exempting eight service business categories from the requirement to obtain a foreign business licence, the government announced on May 12.

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Summary

Deputy Government Spokesperson for the Prime Minister’s Office, Patdarasm Thongsaluaykorn, announced the Cabinet meeting. The two instruments, a draft royal decree and a draft ministerial regulation, are designed to reduce duplication in regulatory procedures and bring oversight in line with the current economic environment.

The draft royal decree amends Schedule Three of the Foreign Business Act 1999 to carve out one specific activity: agricultural futures trading conducted through designated futures trading centres where physical delivery of goods takes place. That activity will no longer require a foreign business licence in Thailand.

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