Thai Nominee Shareholding Crackdown in Pattaya announced by DSI

[Rimmer]

Speculative post and replies removed

[tomtom345]

so how many guys are going to move to cambodia/philippines soon as a result of this crackdown?

does anyone here already thinks/plans to do it in the near future?

or are you going to wait to see what's the end result of this crackdown will be in say a month or two from now?

[Tony125]

My wife is a Thai national; I am a USA national. We live in each country roughly six months per year. But the difference in the way we are treated by each other's native country is night and day. My wife travels in and out of the USA on her Thai passport never needing a Visa. She can work, own property, own businesses, go to school, whatever. She is protected against overt discrimination and welcomed as a tax-paying, contributing part of society. But no matter how long we are married, nor how long we are in Thailand, I can never do any of those things. We are both college educated experienced professionals; but she is welcomed and wanted in my country, and I never will be in hers. Xenophobic or not, it's just plain dumb.

Well go somewhere else where you feel Americans are appreciated more.

BTW every guy's wife or GF on this forum is college educated with multiple doctorates.

Do I detect some anti USA sentiment ? And no one has said that "every" guy on this site is married to a college educated Thai girl but there are those that are. I have dated bar girls and issan girls when 1st coming here but my wife and some other Thai girls, some who I met in USA and were going to school there and had business there are college educated whats the problem with that?

Secondly Atsiii is correct that once your married and in USA the Thai wife is given Green Card as permanent resident alien wich alows her almost the same rights as citizen except voting. If she wishes she can aplly and will be granted US citizenship. No reporting her whereabouts every 90 days no renewing card every year nothing. Can buy land, personal home, houses for rental, run business anything. Farangs can't do that here. And she can travel back and forth between Thailand and USA without a visa as she doesn't need one to enter Thailand as a Thai national and can stay as long as she wants and as a US citizen or Green Card holder when returns to USA on Thai Passport only has to show she is a US citizen (US Passport/driving liscense) living in USA and she cannot be denied entry.

[tomacht8]

Thai Nominee Shareholding Crackdown in Pattaya announced by DSI

Such messages certainly do not promote the investment climate.

It's not like the DSI fights organized crime and money laundering here,

but going against the little ones, like family shops, restaurants, bars, travel agencies, diving schools, language schools, etc.

The advice can only be: Do not start any business with a LTD, if your have not 3 active Thai partners with equal captal.

To open a business with 100% Foreign capital is calculated then only for the investor 49% business share.

From a business perspective this is really moronic.

Sounds advise, but you are a few years too late

Unfortunately, yes.

I feel pity for the small business owners, who believed their lawyers years ago.

[petercool]

a troll post and reply to it removed

[bertty]

My wife is a Thai national; I am a USA national. We live in each country roughly six months per year. But the difference in the way we are treated by each other's native country is night and day. My wife travels in and out of the USA on her Thai passport never needing a Visa. She can work, own property, own businesses, go to school, whatever. She is protected against overt discrimination and welcomed as a tax-paying, contributing part of society. But no matter how long we are married, nor how long we are in Thailand, I can never do any of those things. We are both college educated experienced professionals; but she is welcomed and wanted in my country, and I never will be in hers. Xenophobic or not, it's just plain dumb.

Well go somewhere else where you feel Americans are appreciated more.

BTW every guy's wife or GF on this forum is college educated with multiple doctorates.

Do I detect some anti USA sentiment ? And no one has said that "every" guy on this site is married to a college educated Thai girl but there are those that are. I have dated bar girls and issan girls when 1st coming here but my wife and some other Thai girls, some who I met in USA and were going to school there and had business there are college educated whats the problem with that?

Secondly Atsiii is correct that once your married and in USA the Thai wife is given Green Card as permanent resident alien wich alows her almost the same rights as citizen except voting. If she wishes she can aplly and will be granted US citizenship. No reporting her whereabouts every 90 days no renewing card every year nothing. Can buy land, personal home, houses for rental, run business anything. Farangs can't do that here. And she can travel back and forth between Thailand and USA without a visa as she doesn't need one to enter Thailand as a Thai national and can stay as long as she wants and as a US citizen or Green Card holder when returns to USA on Thai Passport only has to show she is a US citizen (US Passport/driving liscense) living in USA and she cannot be denied entry.

Then work out how many millions of people have done that. Then work out how many of those marriages are scams. Then work out how many are not living with their partners.

Then you star to see why its not maybe the best/right way to do things.

[petercool]

Please stay on topic. This is about Thai nominees of companies here not about USA rights of residence or anything else.

[petercool]

Three latest off topic posts removed. You have all been asked to stay on topic. Thank you.

[Kudel]

so how many guys are going to move to cambodia/philippines soon as a result of this crackdown?

does anyone here already thinks/plans to do it in the near future?

or are you going to wait to see what's the end result of this crackdown will be in say a month or two from now?

To do what?Said country's are also cracking down on foreigners and becoming strickter on visa rule's i think they are also getting tired of all the rif raf setting up shop in said country's .

The age of homo sex touristicus is coming to an end end they want bonafide bussinesses to invest in their respective country's.

[tomtom345]

so how many guys are going to move to cambodia/philippines soon as a result of this crackdown?

does anyone here already thinks/plans to do it in the near future?

or are you going to wait to see what's the end result of this crackdown will be in say a month or two from now?

To do what?Said country's are also cracking down on foreigners and becoming strickter on visa rule's i think they are also getting tired of all the rif raf setting up shop in said country's .

The age of homo sex touristicus is coming to an end end they want bonafide bussinesses to invest in their respective country's.

foreigners can easily open up bussines in both cambodia and the philippines , and visa are much simpler and much cheaper than in thailand , that's a fact !!!!!!!

[belg]

let the farangs build the houses, pay for condo's, use the nominees ...

then one day, thailand comes up with a great new idea to take it all from them for a steal ...

[dwcrist]

By foreign business people, I'm sure they mean farangs since there are thousands of miserly foreign Indian and Chinese business "owners" that are always left alone to run businesses and illegally employ their cousins from abroad as they please. Many of these people can barely even speak Thai.

Most farang business people who did this got their investment capital from abroad, created jobs for Thais, and spent the money they made in the Thai economy. Its fine to get rid of some of the parasitic kee-nok white trash types, but don't forget the rude pushy Asian types who are really stealing business from the Thais.

[Bernard Flint]

By foreign business people, I'm sure they mean farangs since there are thousands of miserly foreign Indian and Chinese business "owners" that are always left alone to run businesses and illegally employ their cousins from abroad as they please. Many of these people can barely even speak Thai.

Most farang business people who did this got their investment capital from abroad, created jobs for Thais, and spent the money they made in the Thai economy. Its fine to get rid of some of the parasitic kee-nok white trash types, but don't forget the rude pushy Asian types who are really stealing business from the Thais.

Shall i call racism, xenophobic before someone else

[Kudel]

so how many guys are going to move to cambodia/philippines soon as a result of this crackdown?

does anyone here already thinks/plans to do it in the near future?

or are you going to wait to see what's the end result of this crackdown will be in say a month or two from now?

To do what?Said country's are also cracking down on foreigners and becoming strickter on visa rule's i think they are also getting tired of all the rif raf setting up shop in said country's .

The age of homo sex touristicus is coming to an end end they want bonafide bussinesses to invest in their respective country's.

foreigners can easily open up bussines in both cambodia and the philippines , and visa are much simpler and much cheaper than in thailand , that's a fact !!!!!!!

What kind? naughty bars catering to foreigners are being raided every other week in the phils by the authorities.Thailand welcomes foreign investment but more of the Multi national kind.

[Sakeopete]

I can't see it targeting home owners that would cause a storm in the real estate market which many influential people are involved in. I say bring it on maybe it could bring prices down

[Ling Kae]

I don't care, I do not invest in this country and I would certainly NEVER get into a company ownership business or real estate with only a 49% share. Who in their right mind would do this anyway? Until farangs are treated equally ie. The same as their partners in their home country, Thailand investment will remain a no go zone for me.

[Gonzo the Face]

You do know that Pizza Company is owned by the Minor Food Group which is owned by a Thai person don't you.

Bill Heinecke may have "Thailand" stamped on the front of his passport but he still doesnt look very Thai to me.

What are you saying ???? A new law coming out that says you must not only be Thai, but now you must LOOK Thai ????55555

[petercool]

post with just quotes removed. Please put quotes within a post in which you add something. Thanks

[Mudcrab]

This is just more example of shooting oneself in the foot theatrics. In addition in response to a post here, anyone who thinks its hard to start a business in the USA is simply ignorant. Thailand could learn a thing or two about supporting small business, ( the wealth creation, job creation engine of America) granted the Obama administration is NOT small business friendly, we will survive him, the USA is VERY friendly about business start-ups. You don't need licenses for most businesses, the paperwork can be done online in a day! . I have started several myself. C Corps, LLC's and sole proprietorship's. Thailand better get its act together, if they think forefingers have nothing to contribute and continue with these Xenophobic practices, they will loose big-time. I have heard the Philippines has recently removed many barriers to foreign investment? The USA has traditionally welcomed foreigners ...the USA IS foreigners! they are who made America what it is! I am deeply saddened by the ignorance I am seeing lately. I have been in Thailand since 1979, assists in AIDS crisis in the North creating jobs, helped create dozens of good paying jobs here in BKK more recently, I am looking for two more Java programmers as we speak...you want me to pack up and take my companies elsewhere..I wonder if my employees would agree with you. I really wonder how many Thai people really feel anti foreigner, or is it more form the elitist class who don't need to work, don't care about job creation or about middle class Thai opportunities? I am really starting to wonder.

I have it good authority from a few of my favourite bar girls that forefingers have a lot to contribute although the unanimous verdict was that they prefer the middle digit as a rule

[IAMHERE]

Let see western governments do the same to Thai nationals with investments abroad, make these rules reciprocal.

I agree, tit for tat.

Reverse logic at work here perhaps? If the USA needs a friend in Thaland, is it better that Thailand have billions invested in the USA or that lots of Americans own condos/houses in Thailand ? I think the USA has more sway with Thailand if Thai's have big money parked in America.

[dwcrist]

By foreign business people, I'm sure they mean farangs since there are thousands of miserly foreign Indian and Chinese business "owners" that are always left alone to run businesses and illegally employ their cousins from abroad as they please. Many of these people can barely even speak Thai.

Most farang business people who did this got their investment capital from abroad, created jobs for Thais, and spent the money they made in the Thai economy. Its fine to get rid of some of the parasitic kee-nok white trash types, but don't forget the rude pushy Asian types who are really stealing business from the Thais.

Shall i call racism, xenophobic before someone else

Racism by who towards who? I'm not sure what you meant. In case you are referring to farangs being the targets, rather than race, I tend to think the reason is because they are an easier target (they stand out more), they have fewer "connections", and it is easier to get money out of them.

As far as my comments, if Indians and Chinese, or anyone for that matter, don't want to be called rude and miserly, then they should stop being rude and miserly. Likewise if kee-nok white trash people don't like that title, they have the option to start being respectable and contribute to society.

In my experience, stereotypes exist for a reason, and truth is not racism. Also, culture does not = race. And if someone cannot see or accept the predominant flaws in their own culture, then they probably possess those same negative traits, helping to perpetuate their stereo type, and are very likely are a defensive racist.

Would you agree?

[Kudel]

Let see western governments do the same to Thai nationals with investments abroad, make these rules reciprocal.

I agree, tit for tat.

Reverse logic at work here perhaps? If the USA needs a friend in Thaland, is it better that Thailand have billions invested in the USA or that lots of Americans own condos/houses in Thailand ? I think the USA has more sway with Thailand if Thai's have big money parked in America.

Most rich Thais have their money stashed away in offshore tax havens like most rich people from all over the globe.Apparently they are smarter then the avarage farang living in Thailand specially after the 97 crash

Concerning doing bussines in Thailand look how the chang brewery screwed de Danisch brewer carlsberg up the arse back in the day.

[MediaWatcher]

JesseFrank, on 22 Aug 2014 - 14:42, said:

Rorri, on 22 Aug 2014 - 14:34, said:

chris2004, on 22 Aug 2014 - 14:22, said:chris2004, on 22 Aug 2014 - 14:22, said:

This was always illegal. If people took the risk and now get caught out it's their own fault. Their country, their rules and laws.

Not and never was "illegal", there is a legal loophole. Please read "LEGAL."

The Foreign Business Act was a law enacted by the Chuan Leekpai-controlled National Legislative Assembly of Thailand in 1999 that limited foreign ownership of certain Thai industries. Its predecessor was the Alien Business Act of 1972, enacted by a military junta. Industries which must be majority-owned by Thais included the newspaper business, radio stations, television stations, rice farming, animal husbandry, fishing, land trading, mining, wholesaling and retailing, restaurants, and all service businesses. The law criminalized nominees, any Thai who held shares on behalf of a foreigner. Nominees could be fined 100,000 to 1 million baht and face up to 3 years in prison. However, the law did not prohibit foreigners from being the majority in the board of directors and also did not prohibit having different classes of shares with differing voting rights. This loophole allowed thousands of foreign-controlled businesses to operate in Thailand.

The subject of this thread isn't that foreigners held control of a Thai company through legal ways like preference shares, but the fact that the shareholders are straw men who don't have any real interest in the company.

Also the problem is that a company that owns a property has to do REAL business, and not just add some fake business deals to the balance sheet at the end of the year, as is the reality with most companies that were set up with that purpose.

You need to apologise to Rorri...go and re-read the OP, your comprehension seems way off target.

[balo]

Thailand wants to take Pattaya back to their own people. No more nasty foreigners , lets clean up the city and bring in rich thais to invest in empty condos.

[veleron]

I thought the 49% foreign ownership in condo is not affected?

[BadBouy]

Very forward thinking. Good bye business, good bye money, good bye jobs!

Some of the best advise given on this forum. "own nothing here that you can not afford to loose".

[petercool]

a post being derogatory was removed

11) You will not post slurs, degrading or overly negative comments directed towards Thailand, specific locations, Thai institutions such as the judicial or law enforcement system, Thai culture, Thai people or any other group on the basis of race, nationality, religion, gender or sexual orientation.

[lucjoker]

Hopefully it is true this time!

yes, the people with money(not you) are fooled by lawyers and now maybe will loose

their investment,so you must be very happy but still you will have to line up to be kicked out

because thailand does not want poor tourists (nor rich ones).

get a life

[moto77]

They want foreign investment but don't want foreigners owning more than 49% after they contribute and invest 100%. Whilst they are going after foreigners in Thailand they are openly encouraging Thais to invest abroad where they can own 100% which includes the land their business will sit on.

Yes but the philosophy and law has always been that Thailand is for Thais. Only the monitoring of said rules has changed. France, Germany, Britain and the American Indians would not be in the situation they are now if they had adopted the same policy. The only major difference is France, Germany & Britain had the choice & the native Americans did not. Thailand is also one of the few countries outside of the "old world" that has never been completely colonised. I this a coincidence???????? So, who is the silly one?

Come back Enoch Powell, all is forgiven. see: http://en.wikipedia.org/wiki/Rivers_of_Blood_speech

HAHA.. You're the silly one. Though I don't disagree that Thailand needs to protect its land somehow, your example is wrong. Britian would have just brought in guns and warships and settled the matter militarily as they did everywhere else. (And as the US government eventually did when the Indians wised up...)

[JSixpack]

You understand now why I left Thailand in 2006 ?

No. But I haven't heard of anyone missing you either.