Thailand Among Most Restrictive For Foreign Ownership

[thaiozy]

Foreign investment in any country is only done for what the investors can get out of it not for some warm fuzzy feeling of helping out an other country. Profit is the only thing that matters and with foreign investment that profit leaves the country.

I lived in a rural part of NZ and watched overseas interests come in and buy up land in large chunks and as a consequence of this many locals lost jobs. If there had been rules in place like no overseas owenership of land then this could not have happened.

Also watched local companies be bought up (ie Watties) to have their operation shut down and move overseas. Other NZ companies have moved out also like Fisher and Paykel recently to Thailand, then there are all the NZ banks that were sold off and now all the profits go overseas (1 left TSB).

Nope the TL way is better.

What are they worried about they`ve been given a free ticket with no working visa to come & take the aussies high paid construction jobs

[garrfeild]

Soros is to blame!

What do you mean, "Soros is to blame" DON'T MAKE STATEMENTS YOU CAN'T QUALIFY

[garrfeild]

Thailand has enogh problems without having to worry about multi national companies coming in and taking everything. what happened in Bangkok (red shirts) is just the tip of the iceburg. compared to what might happen if Thailand doesn't sort out the in-equalities within the country.

But I doubt there is the political will to sort it out as most of those holding the power, and I don't mean polotical power, are only interested in raping their own country.

[Seanextra]

Thai ownership restrictions are in a lot of cases, a fallacy. If you want to own things here you can - you just need to talk with, engage the right people and get it right. I have land - yes the type with clods of dirt, businesses, buildings here and all totally legal. I pay taxes and I employ Thai's by the hundreds. SME's are well under the radar if you look closely and larger businesses DO become targets of acquisition, but make sure you have the back up of the right visa, the work permit and the proof of monthly taxes and annual audit and certificates to show when they come around - and they certainly do. There are zonings as well here such as purple and BOI that allows ownership. Most of the 'bleatings' here are from people who are not business owners in Thailand. Thailand offers some great options over the over-governed and over-taxed Western societies alternatives. I gave up my country at 34% company tax and 60% personal. It was not rocket science!

Hmmm, let's see: the right visa=150,000THB/year, work permit=5000THB/year, office=120,000THB/year

So to open shop legally in Thailand you need a minimum of 275,000THB($8500). Of course, your business will be half-owned by total strangers and they'll expect a cut for having their name on the business. If you get land you won't own it and if you try to sell it you have to go find the person whose name is on it to get them to sign. I'm sure he/she'll want a cut. You won't be allowed to compete with the Thais in certain sectors like: selling food on the street, tourism, banking, communications, etc.

After you spend all this money and put property in other people's names, you have to live here for 3 years before you can get residency and that'll cost you another 100,000THB. You can probably never get citizenship. Anything you try to import will be held at customs until you pay the extortionary taxes.

Not exactly entrepreneur-friendly if you ask me.

Preecisley !!!! I wanted to open a business for my to be Thai Family with view to them having a long term business they could pass thru the family but basically i needed to just sign over cash and stand back so i decided ill leave my money back in my country where it belongs ! Whoever makes the antquated decisions on policies in this 3rd world country needs to be grabbed by the throat and slammed against the wall of reality for they are keeping this place third world ! im sure you can find nicer places in rural Africa to open a business and half of them are probably more friendly SMILE more and dont drive new black 4WD drives they cant afford at 150klm in the wrong lane but who am i to Judge !

Anyhow Have a Leo!

[Oberkommando]

in thailand you have the right to bring in a big fortune and leave with a small one, or empty pockets

I brought in a few hundred GBP and now I am worth several million, despite my best efforts to squander everything on drink and women.

Maybe you are doing something wrong?

[Foggy Bottom]

in thailand you have the right to bring in a big fortune and leave with a small one, or empty pockets

I brought in a few hundred GBP and now I am worth several million, despite my best efforts to squander everything on drink and women.

Maybe you are doing something wrong?

Several million huh? You must have done something seriously bad to have that big a price on your head - have you got a permanent crick in your neck from looking over your shoulder?

[TPI]

After seeing what has happened in New Zealand with "Foreign investment" looks to me like the Thai way is better.

Please explain, because the reality is that foreign investment has allowed the residents to maintain a comfortable lifestyle and modernize. It's a country with an insignificant population of 4 million or so, That is hardly the critical mass that can fund the hydroelectric development that in turn frees the population from an addiction to oil. New Zeland's life is sustained by its exports to Australia, the USA, China and Japan. Unless it had foreign investment it would not be able to keep up its highly profitable export sector. The New Zealand strategy is sound, and I suggest to you that it is Thailand that could learn from tiny New Zealand. New Zealand does not discriminate when it comes to foreign investment Thailand discriminates. Its not as if the NZ OIO does this willy nilly: Investments that would control 25% or more of businesses or property worth more than NZ $100 million have to be reviewed by the OIO and if it is not in national interest, the investment is not approved. That's a heck of a lot better than the Thai approach that favours MNEs that aren't subject to proving the benefit of the investment activity.

Agreed, Oz has much the same sort of system.

[TPI]

Soros is to blame!

What do you mean, "Soros is to blame" DON'T MAKE STATEMENTS YOU CAN'T QUALIFY

Now Garfield...upper case is yelling in this forum, it's very impolite to yell at someone with a thick neck so be nice! OK?

[andyww]

in thailand you have the right to bring in a big fortune and leave with a small one, or empty pockets

You have the right certainly. But if you actually do that its not the fault of Thailand, its your own fault.

[pacosvillage]

But, isn't there a treaty between US and Thailand called the The Amity Treaty that allows small business people from US that open their businesses in Thailand to have sole propritetorship in thailand so we don't have to chance partnering with the many, many thieves of business there?

[pacosvillage]

I am in the Cafe business ( a European Country Deli theme, sitdown and takeaway menu) and plan to open main one in Bangkok other three smaller takeway only on Phuket (Patong) , Koh Samui, and either Pattay or Krabi area. Does anyone know of friends or themsleves that have asnwered the question of "it being better to be foreign corporation in Thailand running these cafes or a Thailand corp? My intentions so far form research were to incoporate in Hong Kong and assign my folks to Thailand as employees.

I already have a copr in US that is used to run our cafe in LA. if that helps to give a clearer picture to my question.

[Rinrada]

And thanks to ex prime minister of Australia, John Howard, who's greatest skill as an accountant was balancing the books, he sold off most of it. Australians no longer own many of it's assets and infrastructure. Maybe Thailand is a bit tight, but I'm not keen on the senario Downunder.

My My how bad eh, you think you have it bad, have a look at what the UK sold off over the years, most of our national assets, jeez we even sold London Bridge to the yanks and it's now in Arizona..

True ...but they bought the wrong one.They thought that they were buying Tower Bridge.

Still made money as a great tourist attraction and believe that thet also sold off small pieces as souvenirs for summit like $5 a shot.

Right...taking offers for Buckingham House ...wot do I hear...

[pedro01]

I am in the Cafe business ( a European Country Deli theme, sitdown and takeaway menu) and plan to open main one in Bangkok other three smaller takeway only on Phuket (Patong) , Koh Samui, and either Pattay or Krabi area. Does anyone know of friends or themsleves that have asnwered the question of "it being better to be foreign corporation in Thailand running these cafes or a Thailand corp? My intentions so far form research were to incoporate in Hong Kong and assign my folks to Thailand as employees.

I already have a copr in US that is used to run our cafe in LA. if that helps to give a clearer picture to my question.

You will need to set up a Thai company here.

[thaihome]

I am in the Cafe business ( a European Country Deli theme, sitdown and takeaway menu) and plan to open main one in Bangkok other three smaller takeway only on Phuket (Patong) , Koh Samui, and either Pattay or Krabi area. Does anyone know of friends or themsleves that have asnwered the question of "it being better to be foreign corporation in Thailand running these cafes or a Thailand corp? My intentions so far form research were to incoporate in Hong Kong and assign my folks to Thailand as employees.

I already have a copr in US that is used to run our cafe in LA. if that helps to give a clearer picture to my question.

You will need to set up a Thai company here.

He should investigate if he can use his US Corporation to setup a wholly owned subsidiary that is certified under the Amity Treaty.

TH

[TAWP]

I lived in a rural part of NZ and watched overseas interests come in and buy up land in large chunks and as a consequence of this many locals lost jobs. If there had been rules in place like no overseas owenership of land then this could not have happened.

Their job was to sit and look at undeveloped land?

Sorry, I fail to see the corrolation between "investor buy land" and "people lose jobs". Last time I checked most new companies needed to hire people to work for them...

[ozzieovaseas]

If only Australia had done the same and kept all the DO-GOODERS in the cupboard where they belong..

No-one wanted to listen to Pauline, now everything is sold off to big business and hence they weild the big stick and have all the power..

Screw the people, as long as the in house pollie is on top of the opinion polls and is in the box seat for the next term..he will not care MOOT about the quality of life for the average Joe...

Hole in the budget??.. no problem, just up the tax on alcohol and ciggies and get the police to lower the speed limit and fine more people..that will surely make a quick term loot..

Look in Australia now, an unemployed Aussie could possibly be unemployed indefiantely, but try to go to a Thai restaurant with the ar$se out of your pants..you will quickly discover that you cannot afford to pay the Thai owner the $25 for that tiny bowl of mummassaman curry...

Said Thai owner will probably not be inhouse anyway....to busy off buying gold and holidaying on the Gold coast , while they have some poor thai university student working for them for $8 an hour...meanwhile average Joe cant get a job and heads down to the dole office for his $180 bucks a week..

Nevertheless, having said that, i am happy to be staying in Thailand short time, where i am NOT allowed to own anything, or NOT allowed to do any work...well except for teaching English of course (which i dont BTW)

It all just gives me a convenient excuse to sit around on my arse doing SFA...spend my money and go home, just like every good farang should do

:burp:

[Tanaka]

If only Australia had done the same and kept all the DO-GOODERS in the cupboard where they belong..

No-one wanted to listen to Pauline, now everything is sold off to big business and hence they weild the big stick and have all the power..

Screw the people, as long as the in house pollie is on top of the opinion polls and is in the box seat for the next term..he will not care MOOT about the quality of life for the average Joe...

Hole in the budget??.. no problem, just up the tax on alcohol and ciggies and get the police to lower the speed limit and fine more people..that will surely make a quick term loot..

Look in Australia now, an unemployed Aussie could possibly be unemployed indefiantely, but try to go to a Thai restaurant with the ar$se out of your pants..you will quickly discover that you cannot afford to pay the Thai owner the $25 for that tiny bowl of mummassaman curry...

Said Thai owner will probably not be inhouse anyway....to busy off buying gold and holidaying on the Gold coast , while they have some poor thai university student working for them for $8 an hour...meanwhile average Joe cant get a job and heads down to the dole office for his $180 bucks a week..

Nevertheless, having said that, i am happy to be staying in Thailand short time, where i am NOT allowed to own anything, or NOT allowed to do any work...well except for teaching English of course (which i dont BTW)

It all just gives me a convenient excuse to sit around on my arse doing SFA...spend my money and go home, just like every good farang should do

:burp:

Thais are grateful that you do not try to teach them your English. And as for wages, do you have any idea at all what the level of income is here? "A poor student making 8USD an hour"! More like 45 cents!