Asean 70% Cross Country Ownership

[jayjayjayjay]

Following is a newspaper cutting in reference to an agreement to allow cross country ownership of up to 70% for various businesses. What is the status as it is a pan-Asean initative. What I suspect is Laos already have it in place, but would like to know for Indonesia and possibly Thailand. If you are able to give a brief reply, please focus on Thai business taking 70% shareholding in Indonesian business or Singapore business taking 70% in Indonesian.

Will this apply to nationals only, an what about companies with national plus foreigner shareholding?

Sun, Feb 14, 2010

The Nation/Asia News Network

"In addition, Asean members will remove non-tariff barriers and allow Asean nationals to have ownership equity of up to 70 per cent in the service sector.

Initially, the sectors would be information, communications and technology (ICT), healthcare, tourism and aviation for which the 70-per-cent equity ownership rule will apply from this year onwards."

But when will it be usable in company registration etc. Any help very much appreciated. JJJJ

[SunbeltAsiaAdvisor]

We have checked with the FTA Committee.

There is no answer on this as they only have this in theory,discussion and plans. The applicable of this issue would require all members to execute this agreement.

To them it (the government sectors), enabling foreigners from ASEAN nationalities to own 70% of the equity in Thailand is a big issue. They will not only advertise in the newspaper. They would actually be making a huge publicity about this.

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