The immigrants are coming here and they're opening businesses employing Thai workers and they're murderers--of the English language --for example saying "zebra crossing" instead of "crosswalk" and they're rapists--ever met a Farang real estate agent who only marks up Thai real estate --because Farangs can't own land.

Some of them, I presume are Good People. 😳

These blooming foreigners coming here and stealing the soil from poor Thais.

Send them back to where they came from (except me of course)

(S)

 😃

20 years ago I set up a cmpany using Thai nominees. I had no idea that what I was doing wasn't legal but I think every year since then there has been a crackdown on the practice.

I closed the company long ago. I doubt I was ever on the radar of those policing this but who knows. In the digital age it should be quite easy to track farangs who appear to own 49% of a business and the rest being split across various Thai persons but I'm not sure Thailand has an easily accessible database ot its companies.

 

Looking forward to next year's crackdown already.

10 hours ago, webfact said:

Image composite courtesy: MGR online

 

Thailand is taking decisive action against foreign businesses using Thai nominees to conduct operations within the country. The Commerce Ministry has unveiled a new plan spearheaded by Deputy Commerce Minister Napintorn Srisunpang.

 

This initiative aims to tackle illegal business practices that undermine local economic interests. The Ministry's subcommittee on nominee business prevention and suppression held significant discussions on Wednesday, bringing together several agencies to brainstorm strategies for identifying and prosecuting companies engaged in these unlawful practices.

 

Key representatives from several agencies attended, including the Department of Business Development (DBD), Department of Special Investigation, Central Investigation Bureau, Anti-Money Laundering Office (Amlo), Tourist Police Bureau, Immigration Office, Department of Employment, Department of Tourism, Department of Lands, and Revenue Department.

 

Together, they crafted a comprehensive strategy, proposing short-, medium-, and long-term measures for the cabinet's approval.

 

In the immediate term, existing laws will be utilised to scrutinise and take legal action against suspect businesses, explained Mr Napintorn.

 

Moving forward, the DBD plans to build an analytical system to detect nominee use by examining unusual business behaviour. This medium-term solution aims for completion in six months, adding an extra layer of vigilance by practising stricter law enforcement.

 

Looking to the future, the ministry is contemplating amendments to Amlo's laws, permitting the DBD to reject or cancel business registrations tied to money laundering risks. Proposed changes to the Foreign Business Act could increase penalties, hoping to deter nominee practices altogether.

 

Driven by numerous complaints against foreign businesses flouting Thai laws, the DBD is expanding its investigations. Particular attention is on online platforms, warehousing, and logistics sectors. The penalties for nominees could include imprisonment and hefty fines.

 

With this proactive stance, Mr Napintorn emphasised the government's determination to safeguard the Thai economy. He encouraged those involved in nominee practices to cease activities and cooperate with authorities, ensuring protection for compliant witnesses, reported Bangkok Post.

 

-- 2024-11-16

 

 

THis has been mooted several times before and enforcement has never worked in the long term - probably better to change the law to a more modern attitude.

5 hours ago, UWEB said:

You don't need a Thai nominee to own a Condo.

Very true - except if you want a condo that's already over 49% owned by foreigners. To dig into Thai quota, you do. Technically you also don't need it for a house - you can own a house. Just not land under it.

5 hours ago, BigStar said:

 

I do both. So, besides spending when I want something, I've enjoyed living in my condo at the beach in Pattaya for over 2 decades. Best investment I ever made. I think I've got another 10 years at least.

People are different.Thats life.

6 hours ago, kiwikeith said:

If you're driving from Cha Amm to Hua hin you will pass a massive development of condos now rotting away, someone put a tonne of money into them it looks like a write off of money or a wash house off a large amount, who knows??

 

Win a few, lose a few.

17 hours ago, Tropicalevo said:

Thou jests surely.

If he was untouchable, why was he kicked out of power, victimised by a political criminal charge and had to flee the country for 20 years?

The military will kick him out again when they are ready.

Just to be correct, He didn't flee the country, the military performed a coup while he was in the USA.

 

 

20 hours ago, ChaiyaTH said:

Oh it's the foreigners again who are the reason things are not working out as predicted with revenues and tourism.... Did they ever consider that if foreigners all stopped too, there would be even less viable business, mainly in like tourism.

We can all see the devastation  caused to the economy that no tourism caused....but they never learn. 

9 hours ago, tomazbodner said:

Very true - except if you want a condo that's already over 49% owned by foreigners. To dig into Thai quota, you do. Technically you also don't need it for a house - you can own a house. Just not land under it.

 

Stupidest thing is buy a condo in a company name, that's reserved for suckers. 

9 hours ago, tomazbodner said:

Very true - except if you want a condo that's already over 49% owned by foreigners. To dig into Thai quota, you do. Technically you also don't need it for a house - you can own a house. Just not land under it.

And how much is the house worth without the land...zero, nada, absolutely nothing 

13 hours ago, LennyW said:

Meanwhile, another new topic...... Thailand Considers Law Revisions to Attract Foreign Real Estate Investment

So true

16 hours ago, DaRoadrunner said:

If they let us own land they would not have this problem of nominees. Seems like the racist Thais want our money but they don't want us.

That's always been the case.. and always will be

Simple,if you have bought your house through your Thai business,put it in your Thai wifes name.Hahahaha,good luck with that lads.

17 hours ago, BigStar said:

 

True, but foreigners sometimes resort to a company to buy a condo in the Thai quota when the foreign quota is already sold out. I guess they really, really want to be in that building for some reason.

Yes, and for the exact reason you state--they really, really want to be in that  building.  Northshore comes to mind, among others.

18 hours ago, kiwikeith said:

If you're driving from Cha Amm to Hua hin you will pass a massive development of condos now rotting away, someone put a tonne of money into them it looks like a write off of money or a wash house off a large amount, who knows??

If you mean the white apartments, I believe that is a Thaksin abandoned project

3 hours ago, baansgr said:

We can all see the devastation  caused to the economy that no tourism caused....but they never learn. 

What hs torusim got to do with house/condo ownership?  Never been anywhere on holiday and bought somewhere to stay while there!!

 

PH

19 hours ago, DaRoadrunner said:

If they let us own land they would not have this problem of nominees. Seems like the racist Thais want our money but they don't want us.

So go somewhere you (think you) are appreciated then.  The Thais are not stopping you leaving.

 

PH

On 11/16/2024 at 8:50 AM, Tropicalevo said:

victimised

 

Thaksin, really?! 

anything russian or chinese should get an automatic review....lol

50 minutes ago, Phulublub said:

What hs torusim got to do with house/condo ownership?  Never been anywhere on holiday and bought somewhere to stay while there!!

 

PH

Who do you think stays in all these condos..a large percentage of the 35 million tourists that's who

1 hour ago, Phulublub said:

What hs torusim got to do with house/condo ownership?  Never been anywhere on holiday and bought somewhere to stay while there!!

It seems you lack the necessary funds to own properties in multiple countries.

3 hours ago, newnative said:

Yes, and for the exact reason you state--they really, really want to be in that  building.  Northshore comes to mind, among others.

Interesting, I had no idea that Northshore is indeed that desirable.  Seems rather blasé but I have not spent much time there to be fair.

18 minutes ago, TimBKK said:

Interesting, I had no idea that Northshore is indeed that desirable.  Seems rather blasé but I have not spent much time there to be fair.

      It's an older project, but well-maintained.  It's desirable for location, location, location and for not having much in the way of competition in that very wanted, for some, area of Pattaya.   Other factors are not a huge number of units, less than 200, with the smallest unit 64 sqm.  In many new projects the largest units would run around that size.  The second building in the project offers very large units, 1 per floor, of around 270 sqm.  

2 hours ago, StraightTalk said:

It seems you lack the necessary funds to own properties in multiple countries.

Indeed I do not, in common with 99% of others.  Those who do own properties in multiple countries are unlikely to be worried about whether they can own something here in any capacity. 

 

PH

3 hours ago, baansgr said:

Who do you think stays in all these condos..a large percentage of the 35 million tourists that's who

Maybe ask those who try to buy homes in whcih to live in places like Cornwall, the Lake District (and I am sure England is not unique in this) whether others buying as holiday lets is good for them.  The UK is trying to discourage such activity; maybe they should take a leaf out of Thailand's book?

 

PH

19 minutes ago, Phulublub said:

Maybe ask those who try to buy homes in whcih to live in places like Cornwall, the Lake District (and I am sure England is not unique in this) whether others buying as holiday lets is good for them.  The UK is trying to discourage such activity; maybe they should take a leaf out of Thailand's book?

 

PH

Well this thread is nothing to do with UK, most Chinese, Russian and Koreans buy in Thailand...In fact it's not really to do with property ownership, it's about nominee companies..as for UK, they should enact legislation for 1 property per UK national and raise interest rates

whole Eastern Europe block own helluva properties in TH. Bulgarians even own whole condominiums at Sathorn and Wittayu (yes, near US embassy). The way they "funneled" EU funds is amazing! 

Sad to see Thai xenophobia as prevalent as ever.

Will this clampdown include Chinese/Indian and Soviet funded businesses under Thai nominees?

Perhaps other countries should impose strict controls on Thais owning any sort of business interest and property overseas in other countries. (Leicester City would be well screwed).

 

 

On 11/17/2024 at 5:58 AM, baansgr said:

And how much is the house worth without the land...zero, nada, absolutely nothing 

True. So you wonder why so many foreigners do just that. And I also wondered about buying a leasehold condo. Plenty in Pathumwan and Samyan... How much are they worth when land lease expires...