Having half or more of its capital shares held by persons under (1) or (2) or a juristic person having the persons under (1) or (2) investing with a value of half or more of the total capital of the juristic person
Limited partnership or registered ordinary partnership having the person under (1) as the managing partner or manager;
Juristic person registered in Thailand having half or more of its capital shares held by the person under (1), (2) or (3) investing with the value of half or more of its total capital.
For the purpose of the definitions, the shares of a limited company represented by share certificates that are issued to bearers shall be deemed as the shares of foreigners unless otherwise provided by ministerial regulations.
The definition of "Foreigner", as specified in Section 4 of the Foreign Business Act, reveals that the law separates foreign juristic persons into 2 different kinds as follows:
Juristic person not registered in Thailand
Juristic person registered in Thailand having the characteristics as follows:
Limited company or public limited company given that over 50% of its capital shares are owned by foreigner(s),
Limited partnership or registered ordinary partnership given that over 50% of its capital is invested by foreigner(s), or
Limited partnership or registered ordinary partnership having a foreigner as the managing partner or manager.