Clifford Chance
Thailand: Relaxation of Foreign Shareholding Limit for Non-life Insurance Companies
18 March 2016
The Ministry of Finance has issued a notification which relaxes the foreign shareholding limit for non-life insurance companies. Under the notification, which took effect on 10 March 2016, foreigners may be permitted to hold up to 75 percent of the voting shares and foreign directors may comprise up to three-fourths of the directors. In addition the Finance Minister has the power to fix different limits for the foreign shareholding and directors in cases where damage may be caused to the insured or the public. This briefing provides an outline of the conditions under the notification.
