Foreign Shareholdings Raised To 70%

[JanKlaasen]

Just got a call from a friend who was reading Pattaya Daily News, and he said there was an article that said the government had just approved a law that from 1/1/2015 foreign shareholdings in companie would be allowed to 70%.

Went to the website of Pattaya Daily but couldn't find anything.

Anyone any info??

[Pib]

Possibly he read this: Link

[takatukaland]

Possibly he read this: Link

Sounds great,but im sure thailand will get exceptions,also I wonder what the people with tourist visa will do after 2015,visa run to phili or australia?i dont think that will ever happen,to much tea money to loose.A farang owns 70%?impossible

[JanKlaasen]

Possibly he read this: Link

Yes that was most probably what he was talking about.

So,which way do you read the article.In case Thailand will sign off all rules, which is highly doubtful of course, does this 70% foreign ownership applies to all foreigners or only citizens from the Asean countries.

[Pib]

My guess is the rules will just apply to the 8 member countries of ASEAN and there will be plenty of fine print/devil in the details.

[yourauntbob]

the new rule of 70% will probably only apply to other southeast asian citizens, i dont think they will change the rules for westerners.

[PattayaPhom]

School terms is an issue....Western term times will not work in Thailand with local holidays, climate and crops...One visa throughout would be good depending on length, although for many its easy enough to visit short term already with onine visas etc.

[jonclark]

My guess is the rules will just apply to the 8 member countries of ASEAN and there will be plenty of fine print/devil in the details.

What about a 15 year old Singaporean based registered company that is 100% foreign owned that wants to expand into Thailand

[Pib]

Here's a Link to the Aseansec.org ASEAN Roadmap for 2009-2015. Gives an overview of trade changes to occur mostly by 2015. From the document you will read the ASEAN member countries still need to develop the fine print/details/regulations/etc., in order to fully implement the agreed to changes. Basically, the fine print/details are under construction.

[kleenexboy]

My guess is the rules will just apply to the 8 member countries of ASEAN and there will be plenty of fine print/devil in the details.

What about a 15 year old Singaporean based registered company that is 100% foreign owned that wants to expand into Thailand

It "should" be treated like any other Asean member business.

Unless some Thai law should specifically state that only Natural persons are allowed.

I think restrictions will be further decreased come 2017 or 2020 for all member states.

It will be interesting to see Japan join the AEC and you can now open business in Japan too!

[CWMcMurray]

Given the ease of opening foreign owned company in SIN, wouldn't that make it easy to work around?

Open company in SIN and then open in Thailand with SIN company owning 70%

[spidermike007]

The issue here, is that Thailand signed the charter, calling for all of these changes to take place. But, my guess is that they will ignore most of them. Do not forget, Thailand also signed the 6th Asean charter, which called for free trade of ALL ALCOHOLIC beverages, to be traded, DUTY FREE, amongst all members of ASEAN, starting Jan 1st, 2011. How much Bintang beer have you seen in Thailand lately? How hard is it to ever find a Beer Lao? Thailand is scared to death of the alcoholic beverages produced by it's neighbors, as most of it is far, far, far superior to the swill they have available here. So, someone obviously got to the people in power, and dictated that the law will not be followed. My guess is it was someone in the Bhirom Bhakdi family, the owners of Singha, who bought off the PM, Parliament member, Customs Dept. head, or some other goombah, who allowed the Thai brewers to skirt the law. So, do not expect much, in the way of change, or progress. For all that I love about Thailand, this is simply NOT the land of progress. If things move in any direction here, it is usually backwards!