Despite ‘one person, one company’ law draft, foreigners still can’t own businesses

A new draft law has been under review by the country’s Business Development Department that would allow a single person to own a company. However, as of now, that person can’t be a foreigner.

The draft has been called “one person, one company” and, if passed, it would mean that a single person can register a business in Thailand, something that has previously not been legal without Thai partners. Upon recent review of the draft, the department added to the proposed law that a sole foreigner can’t register, own or run a business on their own in the country.

This addition to the draft is designed to keep foreign businesses from competing against Thai companies in the long list of industries that the government has deemed reserved for Thai nationals only.