Foreign ownership of a company in Thailand: is a Thai partner mandatory to start a business in Thailand?

The Thai Civil and Commercial Code does not make any distinction between Thai and foreign shareholders. As a result, foreigners can freely register a company in Thailand without any Thai partner. However, there are some restrictions on the business activities that can be carried out in Thailand by foreigners under the Foreign Business Act B.E. 2542 (1999) (FBA). This is notably the case for