Agencies and associations in Thailand: no licence, real rules

In most countries of this course, this lesson is about getting a licence. In Thailand there is none. What you have instead is company law, foreign ownership limits, anti-money laundering duties and a set of voluntary associations. This lesson explains each one, so you can judge an agency before you join it, and know what it takes to open one.

No licence, and no draft law we could find

Thailand has no state-issued licence for real estate agents or brokers and no mandatory exam (Themis Partner; Thaiger). When we checked in October 2026, none of the 2025 and 2026 legal guides we read mentioned a draft broker licensing law. The draft legislation that does exist in 2026 is about nominee ownership of land, which we cover below.

That does not make the job a free-for-all. It means the rules sit elsewhere:

• Company law: the agency is a registered company.
• The Foreign Business Act: limits on foreign ownership of an agency.
• Labour law: the 2020 list that reserves agency work for Thais (lesson 2).
• Anti-money laundering duties (lesson 4).

The agency is a company

Themis Partner explains that a real estate agency is an ordinary Thai limited company, registered with the Department of Business Development (DBD). For a Thai-owned agency, that registration is in practice the only “licence” there is.

When you join an agency, ask for its company name exactly as registered, its directors and whether it is Thai-majority or foreign-majority. The answer tells you a lot about whether it can legally sponsor foreign staff and whether its structure is sound.

Foreign ownership: the 49% limit

The Foreign Business Act B.E. 2542 (1999) restricts certain businesses for companies that are majority foreign. List 3, item 11 covers brokerage or agency businesses. The exceptions in the text are narrow: securities, procurement inside a group, international trade distribution with at least 100 million baht of foreign capital, and other types set by Ministerial Regulation (Siam Legal, statute text). Real estate brokerage is not one of them.

So a foreign-majority agency needs a Foreign Business Licence (FBL). In practice:

• Leto, an agency, describes an FBL for a foreign-majority agency as almost impossible to get.
• Foreigners can hold up to 49%, with 51% held by genuine Thai shareholders (Leto).
• Themis Partner adds that BOI promotion or an FBL can allow up to 100% foreign ownership, and that BOI may require up to 50 million baht of capital.

To sponsor foreign staff, the company also needs 2 million baht of paid-up capital and 4 Thai employees per foreign work permit (Thaiger; lesson 2).

Why “genuine” matters: nominees in 2026

A nominee is a Thai shareholder who holds shares on paper for a foreigner. It is the oldest shortcut in the market, and in 2026 it is under direct attack.

• Land. Under Land Code section 97, a company with more than 49% foreign capital, or a majority of foreign shareholders, is treated as foreign and cannot own land (Leto).
• The October 2026 crackdown. On 19 October 2026, Prime Minister Anutin Charnvirakul, who is also Interior Minister, launched a nationwide crackdown on nominee land ownership. Thai Examiner reported 13,088 suspected parties, including 1,550 companies, 2,360 plots worth about 14.01 billion baht, and an order for governors to finish priority investigations by the end of December 2026.
• Other 2026 measures. Leto, a single industry source, reports that the Cabinet approved on 24 February 2026 a draft amendment to Land Code section 94 to forfeit nominee-held land to the state, that the Department of Business Development asks for source-of-capital declarations from 1 April 2026, and that eight provinces, including Phuket, Surat Thani (Koh Samui), Chiang Mai and Chonburi (Pattaya), are under special control. Check these points with a lawyer before you rely on them.

An agency whose Thai shareholders cannot explain where their money came from is a risk to your job, your work permit and your clients.

Voluntary associations and credentials

None of these is a licence. They are ways to learn, to network and to show employers and clients that you take the job seriously.

• TREBA, the Thai Real Estate Broker Association. Thaiger presents membership as a credibility signal to employers. Agencies announce when they join, as IRES Thailand did on its own site.
• REBA-ES, the Real Estate Broker Association of the Eastern Seaboard, which covers Pattaya and Chonburi.
• CIPS, the Certified International Property Specialist designation of the US National Association of Realtors. Thaiger cites it as useful for expats who serve foreign buyers.
• Portal certifications, such as the DDproperty Agent Certification.

A name to avoid confusing. AREA, the Agency for Real Estate Affairs, is a private research firm that publishes market data, for example on Pattaya inventory (Pattaya Mail, February 2026). It is not a broker association.

How to check an agency before you join

1. Registration. What is the registered company name, and who are the directors?
2. Ownership. Is it Thai-majority? If foreigners hold shares, are they within 49%, and are the Thai shareholders genuine?
3. Sponsorship, if you are foreign: does it have 2 million baht of paid-up capital and 4 Thai staff for each foreign permit?
4. Roles. Who takes listings, runs viewings and negotiates? If the answer for foreigners is “everyone does everything”, walk away.
5. Associations. Is it a member of TREBA or REBA-ES? Not compulsory, but a good sign.
6. Money. Does it take fees only into the company’s bank account, against an invoice?

Opening your own agency

If you are Thai, the path is short: register a limited company with the DBD, open a company bank account, write your commission agreement and your anti-money laundering procedure, and list on the portals.

If you are a foreigner, the honest summary is:

1. You may hold up to 49% of a Thai agency, with genuine Thai partners holding the rest.
2. A foreign-majority agency needs an FBL or BOI promotion, which Leto calls almost impossible for brokerage and which may need up to 50 million baht.
3. Even as a shareholder or director, you still cannot do agency field work yourself (lesson 2). Thai staff must handle listings, viewings and negotiation.
4. The company needs 2 million baht and 4 Thai employees for each foreign work permit, including yours.

Rules move fast in 2026, so check the official source before you act. Practise with sales training.

This lesson is general information, not legal advice. CloserPass is not affiliated with TREBA, REBA-ES, any portal or any government body in Thailand.