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

[DrTuner]

Must be because farangs aren't regarded as persons.

Where did it mention farangs in particular?

You're right, add any non-Thais to my comment.

[OccamsRazor]

"that a sole foreigner can’t register, own or run a business on their own in the country."

Not entirely accurate. The US-Thailand Treaty of Amity specifically allows it.

[worgeordie]

Cannot own business,cannot own land, just leave your money and go.

regards worgeordie

[Strangebrew]

I can understand not being able to own property cause it would drive the price of land up. Might end up like London more Muslims there than in middle east. But opening a company that is creating jobs for locals say at fair wages and falang retaining controlling interest of business, makes no sense, that only put's companies off investing there capital here.

[innerspace]

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.

And Where's the problem? Doesn't stop you running a successful, profitable Thai BOI supported company that is wholly owned by a Hong Kong company that is supported by investors.

Tax and IP benefits in the structure, solves Thai legal issues though if the workforce is here Thailand still benefits through tax and wages.

Ignoring seed investors concerns is nothing to do with Thailand and a simple reflection of the business they refused. Many Thai based startups got millions of dollars in investment.

Number of shareholders been an odd Thai company rule but not an issue ever for foreigners. 7 was added paperwork but changed years ago, 3 for ages was easy. 51% thai is key factor that's not changed but impossible for a single foreign owner.

But BOI, foreign businesses license and preferred shares make the reality less complicated than the scare stories.

[ukrules]

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.

There's going to be a significant number of foreigners here who possess intelligence far beyond what would be considered normal.

These are the people who invent new things and push technology forward in ways which can hardly be imagined by the 'hoi polloi'.

What clothes they dress in is not really relevant...they're going to change the world wherever they are, work permit or not.

[tomacht8]

If in Thailand EU foreigners may no allowed to own land, it should be in the EU as well.

Edited July 11, 2016 by tomacht8

[Thechook]

According to Prayuth and the Junta foreigners are lining up to invest in Thailand and foreign owned businesses are booming.

[arithai12]

Cannot own business,cannot own land, just leave your money and go.

regards worgeordie

About "leave your money and go", who says you have to part with it? Unless you have made some

really bad decisions mixing marriage and property. You should know that also european and american

wives can skin you alive in a divorce.

[useronthenet]

I will be one campaigning to invoke reciprocal laws against any country which actively discriminates against foreigners due to race. No doubt the foreigners (including Thais) staying in their hosting country wouldn't find it amusing if their rights were relinquished in the same manner.

Thailand has yet again shown it's contempt to the outside world, that it firmly upholds racism, xenophobia, and direct discrimination towards non-thais. The country should hang it's head low in shame.

[thesetat2013]

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"

Wow! Your self description leaves little to be desired! I am wondering why you even bother putting clothes on at all or venturing out of you chang induced, wife beating habit. Or are you just getting bored with bashing foreigners now?

[shirtless]

Western Governments need to grow a set and reciprocate these rules to Thais .Then maybe things will change.

[Bunnychow]

I will be one campaigning to invoke reciprocal laws against any country which actively discriminates against foreigners due to race. No doubt the foreigners (including Thais) staying in their hosting country wouldn't find it amusing if their rights were relinquished in the same manner.

Thailand has yet again shown it's contempt to the outside world, that it firmly upholds racism, xenophobia, and direct discrimination towards non-thais. The country should hang it's head low in shame.

but yet you choose to live among and interact with these shameful racist,xenophobic people...so what does that say about you?...

make a stand and vote with your feet that will teach them..

Edited July 11, 2016 by Bunnychow

[free123]

well the message is clear we dont want u and ur money… and bye the way who want to invest a single cent in a place he is not welcome… wanna ope. shop business or hotel ? check out new zealand they are investor friendly and anything you own there is yours for all time to come… .i deeply and honestly never understood why people buy houses on land not owned by them or on a hookers name… mildly to say ding dong mak mak

[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.

And Where's the problem? Doesn't stop you running a successful, profitable Thai BOI supported company that is wholly owned by a Hong Kong company that is supported by investors.

BOI setup cost and bureaucracy for a single person pre-seed start-up don't make sense and likely won't even qualify as there will be no revenue for some time. The issue might be solved by demolishing the whole BOI filter and applying their rules to all companies in Thailand.

[HiSoLowSoNoSo]

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

In Malaysia, you can set up a 100% foreign owned Labuan registered company.

[stevenl]

Must be because farangs aren't regarded as persons.

More to do with Chinese than farang.

[dotpoom]

I must say...I was surprised to learn that a Thai person cannot start or own a company on their own in their own country?

[maoro2013]

A lot of people posting so far don't seem to know too many farangs outside their own circle.

Most that I know are pretty decent people, with a only a few exceptions

[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.

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

No on the contrary but if the Thai's consider it a good system they should welcome having the same argument used in regard to their business's in the UK. Two countries can only really trade when the same rules apply to each.

[catman20]

Must be because farangs aren't regarded as persons.

yes we are only silly monkeys

[yellowboat]

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.

There is little interest in innovation in Thailand. It is a moribund civilization and their neighbors rightfully benefit from hubris and xenophobia.

To avoid the disadvantages Thai laws bring, It is much better to service Thai clients and take advantages of Thai resources from a neighboring country. It is a country unfamiliar with its own geography, so they have no idea what goes on just across their own borders.

[marginline]

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

Hmmm... I got news for you; the Earth is not 'round' krub. Respectfully it's in fact an 'Oblate Spheroid'.

[romeijoe]

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"

So. they think F 'em then. That fits.

And when that annoys the foreigners, then they say F'em then - because they're annoyed.

Sounds like a good few Thai customer support teams... give bad service to foreigners until they get angry, then give them bad service because they're

angry.

That's why I try to get the wife to deal with Thais wherever possible. It makes much more sense.

Winnie

[monty1412]

Two sides to this me thinks.... yes on face of it not being able to own business or property ( with certain exceptions) is rough but then I look at Australia and the situation there ....... am I happy as an Australian to see vast tracks of land and property owned by foreign nationals ( read that as wealthy Chinese) , am I happy as an Australian to see high levels of foreign ownership of companies and business's with allot of the profit and value stripped off shore..... answer is NO to both and so in some ways I cant blame the forces that be here for what on face of it seems to be a protectionist stance but in reality does help preserve the way of life here... lets face it if you really want to start a company here you can get good quality professional help to do that, if you really want to buy property here the same applies...... as related sideline.. there is a high school in Melbourne called Balwyn High.. it is in a certain catchment zone and the school is much favoured by Asians wanting to educate their children there due to its academic record..... in the last 5 years property prices have tripled in the catchement area as everytime a house comes up for sale some wealthy Chinese who wants to get outstanding education for his children swamps the auction..... saw a video of an auction recently.. not one true bidder in attendance rather about 50 proxy bidders all Asians, with cellphone to their ear bidding $50-100,000 up from any other bid that had been placed....madness

Edited July 12, 2016 by monty1412

[dcnx]

I must say...I was surprised to learn that a Thai person cannot start or own a company on their own in their own country?

So they go it on their own, don't pay tax, and the cycle continues.

Edited July 12, 2016 by dcnx

[romeijoe]

best advise you could receive ! let the thai wife do all the talking, works just fine for me and all i have to do is sit in the back ground smiling! its the thai way so blend in if you wish to have a sweet time of your stay here.

[GAZZPA]

It is misleading for the Thai Government to compare their policy to other countries such as the UK, US or EVEN Malaysia when those countries allow for foreign investers to own the business.

Thailand is a developing country now and is nowhere near as poor as it used to be so this is a very outdated and silly policy that will bite them on their own backside in the very near future.

I do not see how they can possibly say they want foreign investment and yet they will not allow foreign investors to own the very company they are creating and investing in. It makes no sense whatsoever and is surely counter productive.

The place to be if you want to invest is Vietnam or even Malaysia. It is just not worth doing it here unless you are going to go down the nominee shareholder route which is in fact illegal. Ok, extremely difficult to catch you and the Government have hardly got the resources (or seemingly the desire) to investigate but all it would take is for the Government to request ALL foreign business to present details of their shareholders for a lot of people to get very nervous.

Thailand, like a few other Asean countries needs to wake up and do the right thing. If they want growth, if they want investment then they need foreign investment just like all countries do. They need to shake the xenophobia and stop thinking that foreigners will take over which is of course nonsense thinking. It may put pressure on local firms that are not up to scratch but that's no bad thing, complacency is not good for business and if it means Thai companies will need to pull their socks up then so be it.

After all, doesn't Thailand spout about the "World class" business it currently has?

[stgrhe]

The statement is not fully correct as a US citizen can own a company in Thailand through the U.S.-Thai Treaty of Amity and Economic Relations, albeit such company cannot own land.

[scuba2day]

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

Not true. A foreigner can own 100% of a company in Malaysia. There are restrictions on which industry.

There is also a business structure to partner with a Malaysian (50%). There is no requirement for them to be Malay.

Foreigners can own landed property and condos. There is no ridiculous 50% of condo units must be owned my Malaysian either.

There are minimum purchase prices however.