50 Restricted Business Categories Explained

Thailand's Foreign Business Act lists approximately 50 restricted categories. Here's what you need to know about the ones that most commonly affect foreign entrepreneurs.

The Three Lists

List 1: Absolutely Prohibited

No foreign participation allowed:

• Newspaper/media ownership
• Rice farming
• Land trading (with exceptions)
• Thai handicrafts

List 2: National Security

Restricted for security reasons:

• Weapons manufacturing
• Domestic air/water transport
• Antique trading
• Mining

List 3: Thai Competitiveness

Most commonly encountered by foreigners:

Highly Restricted:

• Real estate business
• Hotel/accommodation (49% max)
• Restaurant/café (49% max)
• Travel agency (49% max)
• Retail (varies by type)

Moderately Restricted:

• Education/training services
• Advertising/marketing
• HR consulting

What's NOT Restricted?

Good news for tech founders:

• Software development ✅
• Digital content creation ✅
• Export trading (80%+) ✅
• IT consulting ✅
• Manufacturing (with export) ✅

How to Check Your Business

Before committing to any structure:

1. Identify your exact business activities
2. Map them to FBA categories
3. Consult with a local lawyer (10-25,000 THB)
4. Choose appropriate structure

The Cost of Getting It Wrong

Operating in a restricted category without proper authorization:

• Fines: 100,000-1,000,000 THB
• Imprisonment: Up to 3 years
• Business closure
• Asset seizure

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Not sure where your business falls? We can help you classify it correctly.