Foreign investment
Selling a licensed cannabis company: what happens to the licence
Thailand Cannabis Report · Reefers Club Co., Ltd. · Last checked 31 October 2026
With 5 in 6 licences due in 2025 not renewed, a company that still holds a licence in good standing has become something people want to buy. Selling one, or buying one, means understanding what the licence is and what travels with it.
A licence is not a free-standing asset
A controlled-herb licence is granted to a licensee for premises, on conditions. It is not property that can simply be sold. The licensing rules include a procedure for transfers, but most deals are done as a sale of the company that holds the licence, so the licensee stays the same while the owners change. Estimated Take Thai legal advice on the route before you agree terms.
What travels with the company
- The expiry date. A licence issued in 2024 expires on 31 December 2026, whoever owns the company.
- The renewal test. The company must still meet the eligibility list of Ministerial Regulation No. 2 at renewal. See what the 30 April 2026 rules changed.
- The suspension record. After a suspension the authority shall consider not renewing. A buyer inherits that discretion. Verified
- The compliance history. Missing PT reports, uncertified stock and sales without prescriptions are all exposures.
Ownership rules
The Foreign Business Act restricts foreign ownership for some activities, and section 36 makes nominee holding an offence for both parties. Verified A deal that relies on a nominee is a liability, not a solution. See the nominee trap.
The buyer's checklist
- Licence, expiry date and renewal readiness.
- Suspension and inspection history.
- PT.27, PT.28 and PT.33 records.
- Sourcing certificates.
- Company records, accounts and ownership history.
See questions to ask before buying and what a compliance audit checks.
The seller's preparation
Clean records sell. Fix reporting gaps, file the renewal in time and assemble the documents a buyer will ask for. A deal on a licence about to expire is priced very differently from one just renewed.
Section 3 of the report, free to read, sets out the renewal test and the suspension rule.
Sources
- Section 3 of the 2026 report, The rules in force (free to read)
- Thairath, DTAM guideline on administrative orders for cannabis shops, 22 June 2026
- Nation Thailand, Thai cabinet endorses draft cannabis control bill for medical use, 22 September 2026
This article is market intelligence, not legal, tax or immigration advice. Rules change by notification; check the current text with the relevant authority or Thai counsel before you act.
In short
Can a cannabis licence be sold in Thailand?
A licence is not a free-standing asset. Businesses are usually sold as a company, so the licensee stays the same while ownership changes. Take legal advice on any change.
What happens to the licence in a share sale?
The licensee company keeps its licence, with its expiry date, conditions and suspension record.
Does a buyer inherit the suspension record?
A suspension on the licensee's record stays with it, and it can weigh against renewal.
Can a foreigner buy the company?
Foreign ownership is restricted for some activities under the Foreign Business Act, and nominee holding is an offence.
What does a buyer check first?
The licence expiry and renewal readiness, the suspension record, the PT reports, the sourcing records and the ownership history.
Want the numbers behind this?
This article gives you the argument. The figures, where they come from and how sure we are of each one are in the report.