Foreign Business Act Amendments

Ministerial Regulations

Specified Service Businesses Not Requiring Foreign Business License

B.E. 2556 (A.D. 2013)

Pursuant to the intent of section 46 paragraph 1 of the Foreign Business Act B.E. 2542 (A.D. 1999) and List Three (21) of the Foreign Business Act B.E. 2542 (A.D. 1999), which is the law restricting rights and freedoms of persons, and pursuant to section 29 together with section 33 and section 43 of Thailand Constitution which specific the authority according to law granted to the Minister of Commerce to announce the Ministerial Regulations as follows.

The following service businesses shall be exempt from (21) of List Three in the end of Foreign Business Act B.E. 2542 (A.D. 1999).

(1)   Security business and other businesses according to the Securities and Stock Exchange law

(A)      Security dealing

(B)      Investment advisors

(C)      Securities distributes

(D)      Borrowing and lending securities

(E)       Mutual fund management

(F)       Personal fund management

(G)      Venture capital management

(H)      Financing for security businesses

(I)         Financial advisor

(J)         Service as the securities registrar

(K)      Preservation of customer’s properties of Security Company or customer of entrepreneur futures trading

(L)       A depositary of Personal fund

(M)Trustee of Mutual Fund

(N)   Representative of Loan Shareholder

(2)   Future Trading Business according to Future Trading Law

(A)      Warrantor Future Trading Contract

(B)      Advisor for Future Trading Contract

(C)      Administrator of Future Trading Fund

(3)   Trustee Business according to Trust Law for Capital Market Interactive

Given on 11 March 2013

Boonsong Teriyapirom

Minister of Commerce

Note: The reason to declare this Ministerial Regulations is because of (21) of List Three in the end of Foreign Business Act B.E. 2542 (A.D. 1999) prescribed to exempt service businesses which Thai people are ready to compete operating business to foreigner not businesses in List Three. Therefore, it has to prescribe in Ministerial Regulations and regulate this Ministerial Regulations.