RIP Wayne Guest

[manarak]

I am referencing this post:

and this line in particular:

Mr Nattawut said the inspections were to ensure fairness for Thai business operators, adding that foreign ownership of more than 50 per cent in a company is allowed as long as the investors inform the Commerce Ministry. (MCOT online news)

I never heard about that.

Let's say I am not an American person and want to open a Thai company (whose activity is not in the restricted activities list), this means I can own 99% of the capital and voting rights and get a work permit issued for me?

[manarak]

110 views and not one comment?

I suppose everyone is as mystified as me by the statement of Mr Nattawut?

[MYKTHEMIN]

In my opinion dream on!

[davejones]

I would advise asking the Commerce Ministry. You're more likely to get the correct answer from them. I suspect it may be allowed in certain circumstances, and that something has been lost in translation. I very much doubt it applies to every situation and that you just turn up and tell them. Most likely it might be granted if you are investing a lot of money into your business and employing lots of Thais. Probably done on a case by case basis.

[asiamint]

From my understanding you can own 100% of a business so long as the business is approved via BOI (Board of investment) http://www.boi.go.th/index.php?page=index

It depends on what sector you want to start your business in, and how much cash your going to pump in, you can also sercure a 5 or 7 year tax holiday

The BOI like tech style, nanotech style busineses, there are more, have a dig around their website and you will get the lastest updates from there or best bet is to call them.

[manarak]

From my understanding you can own 100% of a business so long as the business is approved via BOI (Board of investment) http://www.boi.go.th....php?page=index

It depends on what sector you want to start your business in, and how much cash your going to pump in, you can also sercure a 5 or 7 year tax holiday

The BOI like tech style, nanotech style busineses, there are more, have a dig around their website and you will get the lastest updates from there or best bet is to call them.

With some few exceptions, BOI companies cannot do business on the Thai market.

The way Mr. Nattawut's statement is reported makes it seem as if any company can be foreign owned and just needs to report foreign ownership to the ministry of commerce.

It sounds like "those daft farangs are even too lazy to do it properly, it just needs reporting".

[scotto]

interesting but i think you would have to invest a truck load in a business

to get the ownership you would want?

maybe someone can prove this wrong?

[lemoncake]

Just as with most things in Thailand, they make a statement without knowing the actual law or rules.

I am dam_n certain you can not own 100% as he claimed(unless American as you mentioned)

If you report to Commerce Industry or just try to find out using your real name or business, i am sure the next few days you would be either extorted or relived from the business.

Little off topic, but funny. The other day one of the guests decided to be smart and lodged a charge back on the charge for staying in the hotel.

Cut the story long, TMB bank staff told me that Mastercard has a rule to refund if customer checked out early. Being in the business long enough and having 5 Master cards myself, i told them to email or fax me that rule.

The answer was its a secret rule.

Called the manager and told him his staff was wrong and was providing incorrect information, He the manager had no clue what so ever.

I had to refer them to the rules of Master Card and the section, though i am not the one working in the bank.

I think this case is no different

[asiamint]

interesting but i think you would have to invest a truck load in a business

to get the ownership you would want?

maybe someone can prove this wrong?

I think you hit the nail on the head with your first line

Thailand needs certain types of businesses, if you control a business they need you will get a lot of support to set up here. But a truck load of cash and skills are needed to get those permissions.

No rule is ever set in stone and if you bring enough to the table you can own the majority of the business. Im not talking about Hotels, Bars, those sorts of businesses.

for example if this business(website below) wanted to start out in thailand and they employed some Thai's and taught them skills then yes they could own 100% of that business

http://www.reactionengines.co.uk/

Run of the mill business would have no chance.

[manarak]

I think the guy was referring to a foreign business license:

http://www.doingbusinessthailand.com/thailand-business/doing-business-in-thailand/thailand-foreign-business-act/investing-in-thailand-obtain-a-foreign-business-license.html

[mccw]

I think the guy was referring to a foreign business license:

http://www.doingbusinessthailand.com/thailand-business/doing-business-in-thailand/thailand-foreign-business-act/investing-in-thailand-obtain-a-foreign-business-license.html

""The same problem arises even in sectors where Thailand encourages foreigners to invest, as it is the case with the purchase of condominiums. A foreign investor could, if all legal requirements are fulfilled, legally purchase ten condominiums in Thailand. However, could this foreign investor rent them out?

No, because the landlord business is a service business which exercise by a foreigner would requires a foreign business license which license cannot be obtained because this activity do not bring technology transfer, research, and development."""

Really?

I'm sure lots of people do this.

[innerspace]

But being a "manager" of a company and employing thai staff to do the restricted roles is fine. Foreigner just needs a work permit.

Back to op. Yes there are exceptions, but quite difficult to obtain and without them 100% ownership is not possible.

So you are not wrong but much further away from being right.

[manarak]

But being a "manager" of a company and employing thai staff to do the restricted roles is fine. Foreigner just needs a work permit.

Back to op. Yes there are exceptions, but quite difficult to obtain and without them 100% ownership is not possible.

So you are not wrong but much further away from being right.

the opening post is not my opinion, I quoted what Mr. Nattawut reportedly said.