THAILANDSICThailand Standard Industrial Classification

TSIC Activity

94999

Activities of other membership organizations, not elsewhere classified

Definition

Activities of organizations or associations established for the purpose of carrying out social affairs together, not classified elsewhere, such as consumer associations, automobile associations; associations whose purpose is to socialize, such as rotary clubs, guest houses, etc.; activities of organizations which contribute to public issues or problems of political influence, fund raising, etc.; patriotic associations, veterans' associations; activities of organizations which support community, social and educational work and facilities.

Excluded from this code

  • Activities of professional associations, see subgroup 94120

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.

Emerhub

Setting up in Thailand?

Emerhub incorporates companies in Thailand for foreign founders: entity setup, licensing, visas and work permits, accounting. Flat process, no surprises.

Talk to Emerhub Thailand