Our Practice
An Advisory Practice With a Single, Clear Focus
Bodhi Counsel was established to provide considered written advice on foreign business licensing in Thailand — one of the more procedurally weighted aspects of market entry for overseas investors.
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How the Practice Came to Be
Bodhi Counsel grew out of years of work on inbound investment matters in Bangkok — a period during which it became apparent that the foreign business licence process was consistently misunderstood by those approaching it for the first time. Founders arriving in Thailand with sound business propositions were often given conflicting assessments of their obligations. Some had been told their activity was freely permitted when the annexes to the Foreign Business Act suggested otherwise. Others had been advised to pursue licensing when an alternative BOI pathway was plainly available.
The practice was founded with the aim of addressing that gap directly. Our work is confined to the licensing sphere — the Foreign Business Act, its annexes, and the administrative processes through which licences and permissions are obtained. We do not offer a broad commercial law service. The focus allows us to maintain a depth of knowledge about Ministry of Commerce procedures, committee expectations, and the precedents that inform how applications are assessed.
Our office is on North Sathorn Road in Bangkok's Bang Rak district — a location chosen for its proximity to both the Ministry of Commerce and the Board of Investment offices where much of our work takes us. We work with overseas founders in the planning stage, with operating companies seeking to regularise existing operations, and with inbound investment projects of a scale that warrants combined FBL and BOI engagements.
Deliverables from every engagement are in writing. We regard the written advisory — precise, referenced to the relevant legislation, and usable by the client in dealings with their own directors and advisers — as the primary product of the practice.
Our Mission
To give overseas investors a clear, honest view of Thailand's foreign business licensing requirements — so they can make informed decisions before committing capital or structure.
Our Approach
Each engagement begins with a close reading of the proposed activity against the legislative text. We form our view independently, without adjusting it to match what the client hopes to hear.
Our Commitment
We describe the process as it is. Where timelines are uncertain or outcomes cannot be predicted, we say so. Clients receive an accurate picture, not a simplified one designed to accelerate an engagement.
The Team
The People Behind the Advice
Natthida Phiromkul
Principal Adviser
Over fifteen years advising on inbound investment and foreign business registration matters. Leads eligibility assessments and application drafting engagements.
Arthit Kanchanarat
BOI Engagement Adviser
Focuses on Board of Investment promotion applications and the coordination of dual-track FBL and BOI engagements for priority-sector investors.
Suphanat Charoenwong
Documentation Specialist
Coordinates the preparation of application documentation packages, including business plans, financial projections, and organisational materials required by the Ministry of Commerce.
Professional Standards
How We Conduct Each Engagement
Legislative Accuracy
All advice is grounded in the text of the Foreign Business Act B.E. 2542, its ministerial notifications, and available administrative guidance. We do not advise from memory or general impression.
Written Scope Agreement
Every engagement begins with a written scope that specifies the deliverable, the fee, and the matters included. Clients know what they are receiving before any work commences.
Confidentiality Protocol
Business plans, ownership structures, and financial information disclosed during an engagement are handled under a formal confidentiality framework, with access limited to staff directly involved in the matter.
Clear Communication
Progress updates are provided at each material stage of an application. If a committee requests additional information or raises a query, clients are informed promptly with a description of what is required.
Realistic Timeline Guidance
Licensing timelines are described in terms of committee schedules and processing periods as prescribed by the Act. We do not provide optimistic estimates that are inconsistent with the regulatory process.
Professional Membership
Bodhi Counsel maintains membership of professional bodies relevant to the Thai advisory sector, and our advisers engage in continuing professional development in licensing and investment law matters.
Advisory Depth in Foreign Business Licensing
Thailand's Foreign Business Act creates a layered system of restrictions and permissions that varies by business activity, ownership structure, and capitalisation. Annex 1 activities are closed to foreign participation without exception. Annex 2 activities require Cabinet approval, which in practice is rarely sought. Annex 3 activities — the most commonly encountered category for inbound investors — may be pursued under a licence issued by the Director-General of the Department of Business Development, or through Board of Investment promotion where the activity qualifies.
The mapping of a specific commercial activity against these categories is not always straightforward. Activities are described in general terms in the annexes, and administrative interpretation plays a significant role in determining how particular businesses are classified. Bodhi Counsel works at this interpretive level — reading activity descriptions against the annex language, considering relevant notifications, and forming a reasoned view of classification and pathway.
Where Board of Investment promotion is relevant, the analysis extends to the BOI's promoted activity lists and the conditions attached to each category. Priority sectors change over time, and the terms of promotion — including tax privileges, land ownership rights, and the scope of the foreign business operation permit — differ between categories. For investors in manufacturing, technology, healthcare, or infrastructure-adjacent sectors, understanding both the FBL and BOI dimensions of market entry is often essential to structuring the operation correctly.
Bodhi Counsel's practice is built around producing written work that captures this analysis accurately — in language that founders, company directors, and their investors can read and rely upon when planning the next stage of their Thailand entry.
Speak With the Practice
An Initial Conversation Costs Nothing
Tell us about your intended activity and the stage of your planning. We will give you an honest view of where you stand under the Act before any engagement begins.
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