In general, foreign investment is welcome in Thailand; though restrictions are placed on certain key businesses, exemptions are granted for businesses given investment incentives. The main legislation governing foreign investment is the Foreign Business Act which sets out the types of businesses open to foreigners as well as regulations and restrictions. For certain specific sectors such as financial institutions business, insurance business, and real estate; foreign participation is set out under specific laws.
Many incentives are granted through the Board of Investment (BOI), the Industrial Estate Authority of Thailand (IEAT), and the Petroleum Act which give special consideration and tax incentives to target and priority businesses and products. Further the BOI and IEAT may grant investment incentives and exemptions to legal restrictions concerning priority or target industries.