1. What are the typical ownership structures for project
companies in your jurisdiction? Does this vary based on the
industry sector?
Typically, a private limited company will be established for the
sole purpose of carrying out a specific project, and the ownership
structure (foreign shareholders to Thai shareholders) will vary
based on the business activities to be carried out by the project
company and the applicable legal and regulatory framework.
In this regard, a company registered in Thailand is considered
foreign under the Foreign Business Act B.E. 2542 (1999), as amended
("FBA"), if at least half of its shares
are held by non-Thai natural or juristic persons. Such a company is
restricted from operating certain businesses without a foreign
business license ("FBL") or a foreign
business certificate ("FBC").
