Commerce Probes 329 Chon Buri, Prachuap Firms For Breaching The Foreign Business Act

[marstons]

That's why most investment portfolio's rate investment in South East Asia as high risk, it is high risk to invest in anything here, hear so many times ah well there are ways around to own this and that but there really are not. If I cant own 51% of something then I certainly would not consider buying into it in anyway shape or form. Only a matter of time before they start looking at houses in a company name.

[jbrain]

For all the critics, when last have you tried as a foreigner (person from a developing country) to open a business in Europe, Russia or the US. Or as a non European or American to get visas for your countries. My last Schengen visa application ended up in a 50 page application and 3 trips to the embassy. Why should Thailand open their doors to everyone but these other countries keep their doors tightly shut for outsiders. Bloomberg rated Thailand 3rd in the world for business investment which included criteria such as ease of starting a business for foreigners. If you play by the rules (which is much less here than in Europe, US or Russia) there is no problem. If you find Thailand too difficult to business in return home or stop whinning and get on with life.

This is not about getting visas. It is about foreign ownership of businesses. As a foreigner you are free to own 100% of virtually all types of business in Europe, the US, Australia etc.

Thailand is worried about the AEC agreement which will force them to allow ASEAN companies, even foreign owned companies registered in ASEAN countries, to own 70% of companies operating in the Thai service sector. This is the swan song and the last chance for the Luddites in the Commerce Ministry to show off their power and do a spot of grandstanding. In future they will just be able to go after the 30% owned by Thais. Then they will reap the seeds they have sown since the early 70s when the first Foreign Business Act and Working of Aliens Act came into force and encouraged uncompetitive Chinese owned businesses to rip off Thai consumer and rent seeking activity by Thai jv partners.

I think they don't worry about that yet.

If I recall correctly there was a news thread a few months ago that Thailand was the only member who hadn't signed off yet on a few points of the Asean agreement, form which the point you mention above was one.

[Foggy Bottom]

22 non-Thai companies breach foreign business law

By English News

BANGKOK, Feb 4 – ....

Deputy Commerce Minister Nattawut Saikua said today that random checks by the Political Protest Department found the 22 companies – 20 in Chonburi and two in Prachuap Khiri Khan – had breached the law by having Thai citizens holding petrol bombs in proxy for them.

-- TNA 2013-02-04

I've corrected the quote

[Arkady]

If you don't obey the laws you will suffer the consequences. Even though laws are randomly enforced doesn't make your decision to break the law any less risky. I would love to own land here right now, but I will wait until I have been granted Thai citizenship to buy any.

How is your citizenship application going?

[Arkady]

For all the critics, when last have you tried as a foreigner (person from a developing country) to open a business in Europe, Russia or the US. Or as a non European or American to get visas for your countries. My last Schengen visa application ended up in a 50 page application and 3 trips to the embassy. Why should Thailand open their doors to everyone but these other countries keep their doors tightly shut for outsiders. Bloomberg rated Thailand 3rd in the world for business investment which included criteria such as ease of starting a business for foreigners. If you play by the rules (which is much less here than in Europe, US or Russia) there is no problem. If you find Thailand too difficult to business in return home or stop whinning and get on with life.

This is not about getting visas. It is about foreign ownership of businesses. As a foreigner you are free to own 100% of virtually all types of business in Europe, the US, Australia etc.

Thailand is worried about the AEC agreement which will force them to allow ASEAN companies, even foreign owned companies registered in ASEAN countries, to own 70% of companies operating in the Thai service sector. This is the swan song and the last chance for the Luddites in the Commerce Ministry to show off their power and do a spot of grandstanding. In future they will just be able to go after the 30% owned by Thais. Then they will reap the seeds they have sown since the early 70s when the first Foreign Business Act and Working of Aliens Act came into force and encouraged uncompetitive Chinese owned businesses to rip off Thai consumer and rent seeking activity by Thai jv partners.

I think they don't worry about that yet.

If I recall correctly there was a news thread a few months ago that Thailand was the only member who hadn't signed off yet on a few points of the Asean agreement, form which the point you mention above was one.

You are right about the heel dragging but they are worried about it. The Commerce Ministry keeps citing the need to clear things up ahead of the AEC agreement becoming effective as a justification for cracking down on foreign owned companies.