Despite ‘one person, one company’ law draft, foreigners still can’t own businesses

[Jonathan Fairfield]

Despite ‘one person, one company’ law draft, foreigners still can’t own businesses

By Coconuts Bangkok

Bangkok skyline. Photo: BuniD/Flickr

A new draft law has been under review by the country’s Business Development Department that would allow a single person to own a company. However, as of now, that person can’t be a foreigner.

The draft has been called "one person, one company" and, if passed, it would mean that a single person can register a business in Thailand, something that has previously not been legal without Thai partners.

Upon recent review of the draft, the department added to the proposed law that a sole foreigner can’t register, own or run a business on their own in the country.

Full story: http://bangkok.coconuts.co/2016/07/11/despite-one-person-one-company-law-draft-foreigners-still-cant-own-businesses

-- Coconuts Bangkok 2016-07-11

[DrTuner]

Must be because farangs aren't regarded as persons.

[clockman]

Xenophobia rules ok! They will never progress from third world status

Edited July 11, 2016 by clockman

[ukrules]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

[american12bthai]

easy, do what the chinese do. change your name. and pay someone to add you to their house registry. Thats how they do it.

I think thais should not be allowed to own their own business outside of thailand. thats fair.

[Winniedapu]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

I wish.

Winnie

[rkidlad]

I'm not one usually who goes tit for tat. I believe countries in the west are being the bigger people by not discriminating against those who have govenements who discriminate. But to fair, if your government won't allow foreigners to own business and houses, the diplomacy should be the same. It's called an agreement.

Don't like it? Then you vote for a modern government who doesn't live in the last century. Well, I'm not sure when you'll be allowed to vote again to be fair.

[impulse]

Given a choice between 100 foreigners griping about not being allowed to start their own business, and 99 foreigners griping about losing their retirement savings because they didn't quite get the intricacies of Thai business practices, I think they've made the humane choice. For everyone.

[JAFO]

Must be because farangs aren't regarded as persons.

Given the typical farang demographic in Thailand, do you actually blame them ?...

Would you let someone who wears dirty shorts, flip flops,Chang wife beater, drinks cheap beer, mumbles under his breath

and contentiously whines about Thailand ownership of a company ?

The BDP have most likely been reading all the Thai bashing comments on TV and thought "well F em then"

Coupled with the foreigners dress attire look at what businesses they try and open. Great majority are seedy lil dump breakfast houses that turn into brothels at night.

Personally the way it should work is you present a business plan to a committee. Let them review the business intent. But that will not happen and honestly I do not blame them. Look at the US, every area now is Little Saigon, Little Mexico, Little Pakistan, etc etc. They cater only to their countrymen and its always "cash only" and they pay little taxes but yet demand police, fire and emergency services.

Every beach area from Hua Hin to the Malaysian border would be gobbled up by foreigners. I say keep it up Thailand. Stand to your principles.

Edited July 11, 2016 by JAFO

[JayBird]

This won't stop large companies with large amounts of capital from investing in Thailand. Only will stop the little guy doing a 1-man-shop.

[dcnx]

It doesn't matter. Driven people will always find a way to succeed.

However, it is good to see xenophobia still runs the land. Small minded, terrified creatures they are.

[bubba1]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

The last thing the UK has to worry about is Thailand and a bunch of low class Brits that brought Thai hookers to the UK to marry them. Edited July 11, 2016 by bubba1

[Johnyo]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

[/quote

Yeah it's the EU fault that Thais can own property in the UK but you can't in Thailand. Is it also the EU fault the earth is round?

Sent from my iPhone using Tapatalk

Edited July 11, 2016 by Johnyo

[DrTuner]

This won't stop large companies with large amounts of capital from investing in Thailand. Only will stop the little guy doing a 1-man-shop.

Which are the lifeblood of IT, still one of the fastest growing industries. A nerd in a carage can grow to a billion dollar business and Thailand will get none of it, no incubators, no IT parks, nada. It's a missed opportunity.

[tifino]

it's not unique just to LOS.

I do recall it is no different in Malaysia, where no ferenghi cannot be in a business, unless it is owned by 51% or more by a Malay

In Fiji, the indigenous ran the (big-business-man) Indians out of town (many becoming refugees to Australia) , and gave it all to the locals

SudAfrika had countless property owners lose all their property, and often their lives, to the majority locals

Financial racism is a world-over problem

Edited July 11, 2016 by tifino

[impulse]

This won't stop large companies with large amounts of capital from investing in Thailand. Only will stop the little guy doing a 1-man-shop.

Which are the lifeblood of IT, still one of the fastest growing industries. A nerd in a carage can grow to a billion dollar business and Thailand will get none of it, no incubators, no IT parks, nada. It's a missed opportunity.

And for every nerd they miss out on, they'll also miss 1000 crappy bars that close down owing money to every supplier in town.

Besides, they know the nerds are already working under the radar in Starbucks, McDonalds and the local internet cafe. Crafty bastards, those nerds.

[gandalf12]

If a foreigner can not be a one person owner then it must be for Thai's only but surly they have always been able to be a one man company

[DrTuner]

Besides, they know the nerds are already working under the radar in Starbucks, McDonalds and the local internet cafe. Crafty bastards, those nerds.

Yes, they are. Try getting seed money to grow your idea and you'll hear the advise "incorporate in Singapore or Hong Kong and we might look into it". Take a looksee at AngelList and it's pretty apparent.

[gandalf12]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

The last thing the UK has to worry about is Thailand and a bunch of low class Brits that brought Thai hookers to the UK to marry them.

You are taking a very short sighted look at this. Thai's own football clubs, restaurants etc. If the same rules applied they could only own 49% of anything which would be appropriate. It must be a good idea or Thailand wouldnt adopt it so if it is good for Thailand it will also be good for other countries.

[gandalf12]

I think you cant as a foreigner own a company as that would mean competition for the Thai's and we all know that Thai's while thy know the word have no idea what it is and hence it scare the c*ap out of them.

Other ASEAN countries like Vietnam have better grasp on the concept but they also have fr better and harder workers as well

[Winniedapu]

Must be because farangs aren't regarded as persons.

Given the typical farang demographic in Thailand, do you actually blame them ?...

Would you let someone who wears dirty shorts, flip flops,Chang wife beater, drinks cheap beer, mumbles under his breath

and contentiously whines about Thailand ownership of a company ?

The BDP have most likely been reading all the Thai bashing comments on TV and thought "well F em then"

No, I wouldn't let someone like that own a business, but then again would someone like that probably wouldn't have enough capital,

I know several foreigners here who have never acted like that. Most of them are in business partnerships (with their wives) and have no complaints. Some ther friends are, however, single men who would never run around in dirty shorts, drink cheap beer and would love to start a business but cannot do so.

I think in almost any other country (forget N. Korea) foreigners can start their own businesses provide they meet the financial requirements.

As for banning Thais from starting businesses in other countries, that would never happen. The other countries welcome the rich Thais.

True. and they don't much care how they got rich, though I sense that is beginning to change in places. There is one serious caveat though, rich Thais expect deference.their egos depend on it. In many places overseas the culture will not provide them with deference (just ask Thaksin what happened when he wanted players and staff at Manchester City to wai him...) and because the business is no longer able to grow on the back of cheap labour as in Thailand, generally Thai companies trying to move outside of Thailand, do not do well.

Winnie

Edited July 11, 2016 by Winniedapu

[ChrisY1]

Never ever dreamt of having a business here........these guys just don't wan't us to be successful here......better just to stay in my village.....enjoy a few at the local mom and pop stores with the mates, and keep a low profile......

[falang07]

since Thailand is an offshore tax haven, I quite understand why they hesitate to allow this for foreigners

[gandalf12]

since Thailand is an offshore tax haven, I quite understand why they hesitate to allow this for foreigners

Since when has Thailand been considered an Offshore Tax Haven? I cant think of a single bank that recommends putting your money in Thailand. You need to cut back on whatever it is you are taking

[jamesbrock]

Besides, they know the nerds are already working under the radar in Starbucks, McDonalds and the local internet cafe. Crafty bastards, those nerds.

Yes, they are. Try getting seed money to grow your idea and you'll hear the advise "incorporate in Singapore or Hong Kong and we might look into it". Take a looksee at AngelList and it's pretty apparent.

If Thailand won't allow nerds to legitimately run their business here, I don't see nothing wrong at all with incorporating in Hong Kong - in fact I can only see benefits.

--

Meanwhile back in Oz we just formed a Pty Ltd company with my wife as the sole director no questions asked at all.

[Reigntax]

If a foreigner can not be a one person owner then it must be for Thai's only but surly they have always been able to be a one man company

I believe company law required more than a single director. While not necessarily an "owner", I think thats the intent. It was the same in the west for 100 years but gradually changing in some countries.

[bubba1]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

The last thing the UK has to worry about is Thailand and a bunch of low class Brits that brought Thai hookers to the UK to marry them.

You are taking a very short sighted look at this. Thai's own football clubs, restaurants etc. If the same rules applied they could only own 49% of anything which would be appropriate. It must be a good idea or Thailand wouldnt adopt it so if it is good for Thailand it will also be good for other countries.

So are you saying English people can't compete with thai folks in the UK? Are Thai people smarter or what is the reason?

[gdgbb]

Must be because farangs aren't regarded as persons.

Where did it mention farangs in particular?

[gdgbb]

I look forward to reciprocal / retaliatory arrangements by foreign countries, especially those who choose to leave the EU and can start afresh with their rules without centralised EU meddling.

That would be cutting off their noses to spite their faces, why would they do that?

[DrTuner]

Besides, they know the nerds are already working under the radar in Starbucks, McDonalds and the local internet cafe. Crafty bastards, those nerds.

Yes, they are. Try getting seed money to grow your idea and you'll hear the advise "incorporate in Singapore or Hong Kong and we might look into it". Take a looksee at AngelList and it's pretty apparent.

If Thailand won't allow nerds to legitimately run their business here, I don't see nothing wrong at all with incorporating in Hong Kong - in fact I can only see benefits.

No benefits for Thailand. But that's understandable, given their sakdina system. Grass roots entrepreneurship can't be let flourish as it would disrupt the status quo. They prefer to let their equals, large MNC's, pillage and rape the land.