THAILANDSICThailand Standard Industrial Classification

TSIC Activity

20221

Manufacture of paints, varnishes and similar coatings and mastics

ประกอบกิจการโรงงานผลิตสี ทินเนอร์ แลคเกอร์ น้ำยาลอกสี น้ำยาฟอกสี น้ำยาขัดเงาสี น้ำมันวานิช น้ำเคลือบผิววัสดุ และเคมีภัณฑ์ทุกชนิดทุกประเภท

Definition

Manufacture of paints, building paints such as oil paints, plastic paints, water-based paints and varnishes, coatings or lacquers, manufacture of powder paints and ready-made dyes and paints, manufacture of varnishes and engobes or similar substances, manufacture of wood oils, manufacture of compounds used for grouting or similar materials used for filling grooves or preparing surfaces, manufacture of inorganic solvent mixtures and thinners, manufacture of ready-made paints or varnish removers.

Excluded from this code

  • Production of dyes and pigments. See activity 20112.

Foreign ownership

Not on the Foreign Business Act restricted lists.

The Foreign Business Act B.E. 2542 (1999) restricts majority foreign ownership only for the activities named in its three annexed Lists. This activity is not among the mappings we hold, so a foreign investor can generally hold up to 100% of the equity, subject to any sector-specific licence and to minimum-capital rules (typically THB 2 million per restricted business, or THB 3 million where a Foreign Business Licence applies).

If an activity is restricted, the routes to foreign majority

  • BOI promotion — the Board of Investment can grant up to 100% foreign ownership for promoted activities, with tax and non-tax incentives.
  • Foreign Business Licence — permission from the Ministry of Commerce to operate a List 2 or List 3 activity as a foreign-majority company.
  • US Treaty of Amity — US nationals may hold majority ownership in most activities, treated as Thai nationals for FBA purposes.

This is general guidance, not legal advice, and mappings are auto-derived. The schedules of the Foreign Business Act B.E. 2542 are the authority; verify against the Act, or ask us to check your specific activity. See the full foreign ownership reference.

See the full foreign ownership reference for all three FBA lists.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

52
Registered
since 2022
50
Still active
2
Dissolved
฿2.0M
Median capital
of active

New registrations per year

2022peak 13 in 20222026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

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