Foreign Business Act
B.E. 2542 (1999)
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Bhumibol Adulyadej, Rex.
Given on this 24th day of November B.E. 2542 (1999)
Being the 54th year if the present reign.
B.E. 2542 (1999)
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Bhumibol Adulyadej, Rex.
Given on this 24th day of November B.E. 2542 (1999)
Being the 54th year if the present reign.
His
Majesty King Bhumibol Adulyadej has been pleasantly pleased to proclaim that it
was expedient to improve the law governing the business operation of
foreigners.
This Act has some provisions relating to the restriction of the rights and liberty of individuals but by implication of Section 29 in conjunction with Section 35 and Section 50 of the Constitution of the Kingdom of Thailand, the restriction can be implemented by virtue of the law.
By and with the advice and concurrence of the Parliament, His Majesty the King graciously ordered the enactment of this Act as follows:
This Act has some provisions relating to the restriction of the rights and liberty of individuals but by implication of Section 29 in conjunction with Section 35 and Section 50 of the Constitution of the Kingdom of Thailand, the restriction can be implemented by virtue of the law.
By and with the advice and concurrence of the Parliament, His Majesty the King graciously ordered the enactment of this Act as follows:
Section
1. This Act shall be called the "Foreign Business Act
1999".
Section
2. This Act shall come into force immediately after the lapse of the
90 day period that commences on the date of its publication in the Government
Gazette.
Section
3. The following shall be repealed:
(1) Announcement No. 281 of the National Executive Council dated November 24, 1972.
(2) The Act of 1978 amending Announcement No. 281 of the National Executive Council dated November 24, 1972.
(3) Act No. 2 of 1992 amending Announcement No. 281 of the National Executive Council dated November 24, 1972.
(1) Announcement No. 281 of the National Executive Council dated November 24, 1972.
(2) The Act of 1978 amending Announcement No. 281 of the National Executive Council dated November 24, 1972.
(3) Act No. 2 of 1992 amending Announcement No. 281 of the National Executive Council dated November 24, 1972.
Section
4. In this Act:
"Foreigner" means
(1) Natural person not of Thai nationality.
(2) Juristic person not registered in Thailand.
(3) Juristic person registered in Thailand having the follow-ing characteristics:
(a) Having half or more of the juristic person's capital shares held by persons under (1) or (2) or a juristic person having the persons under (1) or (2) investing with a value of half or more of the total capital of the juristic person.
(b) Limited partnership or registered ordinary partner-ship having the person under (1) as the managing partner or manager.
(4) Juristic person registered in Thailand having half or more of its capital shares held by the person under (1), (2) or (3) or a juristic person having the persons under (1), (2) or (3) investing with the value of half or more of its total capital.
For the purpose of the definitions, the shares of a limited company represented by share certificates that are issued to bearers shall be deemed as the shares of aliens unless otherwise provided by ministerial regulations.
"Capital" means the registered capital of a limited company or paid-up capital of a public limited company or the money invested in a partnership or juristic person by its partners or its members.
"Minimum Capital" means the capital of the foreigners in the case where the foreigners are juristic persons registered in Thailand and, in the case where the foreigners are juristic persons not registered in Thailand or natural persons, it shall mean the foreign currencies that the foreigners bring in and use at the commencement of the business operation in Thailand.
"Business" means the business operation in agriculture, industry, handicraft, commerce, service or other dealings for business purpose.
"License" means a business operation license.
"Licensee" means a foreigner who has obtained the License.
"Certificate" means a business operation certificate.
"Certificate Grantee" means a foreigner who has obtained the Certificate.
"Committee" means the Foreign Business Committee.
"Competent Official" means a person appointed by the Minister to undertake actions in compliance with this Act.
"Registrar" means a person appointed by the Minister as a foreign business registrar.
"Director-General" means the Director-General of Commercial Registration Department.
"Minister" me ans the Minister in charge of this Act.
................................"Foreigner" means
(1) Natural person not of Thai nationality.
(2) Juristic person not registered in Thailand.
(3) Juristic person registered in Thailand having the follow-ing characteristics:
(a) Having half or more of the juristic person's capital shares held by persons under (1) or (2) or a juristic person having the persons under (1) or (2) investing with a value of half or more of the total capital of the juristic person.
(b) Limited partnership or registered ordinary partner-ship having the person under (1) as the managing partner or manager.
(4) Juristic person registered in Thailand having half or more of its capital shares held by the person under (1), (2) or (3) or a juristic person having the persons under (1), (2) or (3) investing with the value of half or more of its total capital.
For the purpose of the definitions, the shares of a limited company represented by share certificates that are issued to bearers shall be deemed as the shares of aliens unless otherwise provided by ministerial regulations.
"Capital" means the registered capital of a limited company or paid-up capital of a public limited company or the money invested in a partnership or juristic person by its partners or its members.
"Minimum Capital" means the capital of the foreigners in the case where the foreigners are juristic persons registered in Thailand and, in the case where the foreigners are juristic persons not registered in Thailand or natural persons, it shall mean the foreign currencies that the foreigners bring in and use at the commencement of the business operation in Thailand.
"Business" means the business operation in agriculture, industry, handicraft, commerce, service or other dealings for business purpose.
"License" means a business operation license.
"Licensee" means a foreigner who has obtained the License.
"Certificate" means a business operation certificate.
"Certificate Grantee" means a foreigner who has obtained the Certificate.
"Committee" means the Foreign Business Committee.
"Competent Official" means a person appointed by the Minister to undertake actions in compliance with this Act.
"Registrar" means a person appointed by the Minister as a foreign business registrar.
"Director-General" means the Director-General of Commercial Registration Department.
"Minister" me ans the Minister in charge of this Act.
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