After fulfilling the mentioned criteria, the branch office must then apply for a Foreign Business License in Thailand under the category that best fits the company’s business activity. Obtaining an FBL usually takes 60 days from the date the application is submitted. Once approved, the branch office will be considered legally registered.
Each application submitted to the Ministry of Commerce is reviewed on its own merits, and as mentioned, the parent company will need to showcase how the branch office will benefit Thailand.
When the application is accepted by the Ministry of Commerce, it will be reviewed by the Foreign Business Committee within 60 days after acceptance.
In the case of an application being rejected, the Ministry of Commerce will inform the applicant within 15 days in writing, stating the explicit reason why the application was denied. Companies can appeal this decision, but it must be done within 30 days from the date on which the applicant received the rejection notice.
The minimum capital requirement is 3 million baht (US$84,295). No less than 25 percent of this amount must be brought into Thailand within three months of approval. During the same year of operations, 50 percent must be remitted and the remaining 25 percent to be remitted the year after.
A representative office is the ideal business entity for foreign investors who are exploring the Thai market. The RO can be 100 percent foreign-owned and can provide up to two work permits for foreign employees.
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