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December 15, 2023

Lex Mundi Guide to Doing Business in Thailand 2023

As part of its membership in Lex Mundi, Tilleke & Gibbins has published an updated edition of its Guide to Doing Business in Thailand for 2023. This guide outlines the key factors for starting and operating a business in the Thai market. Issues covered include:

  • Investment incentives
  • Financial facilities
  • Exchange controls
  • Import and export regulations
  • Structures for doing business
  • Requirements for the Establishment of a Business
  • Operation of the Business
  • Cessation or Termination of the Business
  • Labor legislation, relations, and supply
  • Tax
  • Immigration requirements

This publication is part of Lex Mundi’s Country Guides series prepared by member firms in more than 100 jurisdictions worldwide. The guides serve as a useful resource for planning international business strategy and researching new markets. The full Guide to Doing Business in Thailand is available through the button below.

RELATED INSIGHTS​ 

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For businesses in Thailand’s regulated industries, the problem of “too many licenses” is one of the most familiar hurdles to getting a product to market. Take a simple example: importing the materials necessary to sell teriyaki chicken skewers. To legally do this, a business may need approvals from several different agencies—separate permits for the chicken (Department of Livestock Development), the dipping sauce (Thai FDA), the wooden skewers (Department of Forestry), and other ingredients, each under a different authority. This kind of overlap is often cited to argue for a “regulatory guillotine”—a systematic review to cut outdated or duplicative rules that slow investment and business activity. The Facilitation of Licensing and Public Service Consideration Act B.E. 2569 (2026) (Licensing Facilitation Act 2026) is Thailand’s most significant response yet to that concern. This article looks at the Facilitation Act 2026 through a life sciences and regulatory affairs lens—what it may mean for the manufacturers, importers, and distributors of food, drugs, medical devices, cosmetics, and similar products who routinely deal with several regulators to bring a single product to market. The Super License: One Approval Standing in for Many The reform with the clearest potential for regulated-product businesses is the law’s “super license” mechanism, referred to as a “main license” in the statute. Once a business obtains the main license for a regulated activity, it is automatically deemed to hold all related sublicenses issued by other agencies for that same activity, provided the activity has been designated as eligible in the Government Gazette. The Licensing Facilitation Act 2026 also creates a central application center, allowing applicants to submit a single application and pay all relevant fees at one point of contact, with the center routing the application to each agency through a shared information system. The potential benefits of this for businesses
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Tilleke & Gibbins’ Bangkok-based aviation specialists have authored the Thailand chapter of Aviation Finance & Leasing 2026 from Chambers and Partners. This annual guide examines the key legal issues impacting aircraft lessors, lessees, and financiers in nearly 40 jurisdictions worldwide. In addition to the Thailand chapter, Tilleke & Gibbins also contributed the Vietnam chapter to this year’s edition. The Thailand chapter offers a comprehensive overview of the country’s legal framework governing all aspects of aircraft sale and purchase, aircraft and engine leasing, and aircraft debt finance. Some topics covered include: sale and lease agreement terms taxation lease registration and enforcement lease assignment/novation insurance and reinsurance debt structuring securities liens The guide also examines other matters with practical implications for the aviation industry’s day-to-day operations. Chambers and Partners’ Global Practice Guides provide in-house counsel with authoritative commentary on practical legal issues affecting business, enabling readers to compare legislation and procedures across multiple jurisdictions. The Thailand chapter of Aviation Finance & Leasing 2026 is available as a PDF through the button below. The full guide can be accessed for free on the Chambers and Partners website.
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