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

[stuck]

It's only a draft, not a law.

It's a treaty, not a beer.

[Jonmarleesco]

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"

'Would you let someone who wears dirty shorts, flip flops,Chang wife beater, drinks cheap beer, mumbles under his breath ...' Farang is the Thai word (or non-word) for westerners. You appear to be getting confused with a far-too-typical Thai. Or do you seriously think your description doesn't apply to Thais, at all?

[Jonmarleesco]

Thailand prides itself on never bring colonized. Why the hell would you think they would change? You will never own BUSINESS nor LAND! Remember that and stop pipe dreaming...

Somewhat misplaced pride. Do you really believe it would have remained uncolonised had the British or the French thought it worth having?

[Bunnychow]

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"

'Would you let someone who wears dirty shorts, flip flops,Chang wife beater, drinks cheap beer, mumbles under his breath ...' Farang is the Thai word (or non-word) for westerners. You appear to be getting confused with a far-too-typical Thai. Or do you seriously think your description doesn't apply to Thais, at all?

Not confused in the least, and I am sure there are some Thai's as well, but I am most certainly referring to farangs, and why would I be referring to Thai's anyway ?...they have no issues owning business in Thailand, so your off topic even bringing Thai's into this discussion

Lets face facts shall we, the vast majority of the whingers on this topic

1. wouldn't have the capital to start a business in Thailand in the first place

2. Have absolutely zero business acumen to even run a business in their own countries, never mind Thailand

3. large numbers have been out smarted by illiterate bar girls, who possess more business acumen

[gyrosman]

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

Your right and they sure like our money when we open, build and develop property only to owned by the wife or a Thai partner who thinks your their puppet. I hope all of those folks lied to buy Condo's and such are waking-up to fact your the Thai's system door mat. Having our tourist dollars aren't enough for the past 40 years and look how much they have developed their infrastructure only to line the pockets of officials who have 10-20 million baht homes on a government salary.

I hope all of the THAI banks which invested in foreign currencies are taking a bath.

[CanInBKK]

A lot of people criticizing the stance on "investment in Thailand" when the word "investment" really has a very broad spectrum of application from being an ordinary shareholder, to being chairman of the board.

I agree with the draft proposal in that it is still inline with the government's definition of "foreign investment" which is not to be confused with "foreign ownership".

For all of you supposed entrepreneurs on this board, how many of you have actually tried to raise capital? When you did so were you willing to give up more than 51% of your company or did you just want someone who would help you with a boost of cashflow in return for dividends?

Edited July 12, 2016 by CanInBKK

[sanukjim]

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

So now instead of making up a phony cmpany with wife's relitives listed as part of the staff,You can list the company in her name and save a lot of paperwork.

[jerojero]

Protectionism, pure and simple. Still stems from the Thai history of never being colonized, somehow now carried on by never letting foreigners get a foothold anywhere in the country. Thai pride and protectionism...Hand in hand.

[JAFO]

Thailand prides itself on never bring colonized. Why the hell would you think they would change? You will never own BUSINESS nor LAND! Remember that and stop pipe dreaming...

What I still will never understand is why foreigners whinge and whinge about not starting a business and not owning land. For Christs sake, enough already. This is not your country, these are their laws. their rules, don't like it...tough crappola. You are not in Kansas anymore. And that's not such a bad thing.

[teacherpaul]

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?

They've been doing that for years. Why change the habits of a lifetime?

[djlest]

you dont expect Thailand to change do you? to let foreigners run their own business would mean - LOSE FACE!

[MorristheRunt]

Look after No1, i.e your own people first!

This is where the Western Word has/is going wrong.

[DrTuner]

For all of you supposed entrepreneurs on this board, how many of you have actually tried to raise capital? When you did so were you willing to give up more than 51% of your company or did you just want someone who would help you with a boost of cashflow in return for dividends?

If you're paying dividends a funding round might not be the best of ideas anyway. Usual seed share is upwards from 10%, only a fool would give majority. Founders shares will diminish with series A/B investments and typically fall below majority at that time, VC's taking control. Payday is exit, which these days more often than not is a merger or acquisition by another company. It's best to design and incorporate bearing the exit strategy in mind.

[lavezzi]

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

Are you unhappy with that? I'm not.

[SoilSpoil]

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

So now instead of making up a phony cmpany with wife's relitives listed as part of the staff,You can list the company in her name and save a lot of paperwork.

Yes I also see this as a big advantage. Can we interpret this new rule as a simplification of starting a family business in Thailand? If so, thumbs up and a step in the right direction.

[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

You really think these business laws are there to guard the Thai?

Or are they meant to guard the ruling class?

If you have to ask that question then you must have got off the last banana boat. We all know who it is to protect

[gandalf12]

Look after No1, i.e your own people first!

This is where the Western Word has/is going wrong.

Since when has Thailand looked after the Thai people? Never is the answer. I dont know where you got that idea from but I suggest you put it back

[gandalf12]

Thailand prides itself on never bring colonized. Why the hell would you think they would change? You will never own BUSINESS nor LAND! Remember that and stop pipe dreaming...

What I still will never understand is why foreigners whinge and whinge about not starting a business and not owning land. For Christs sake, enough already. This is not your country, these are their laws. their rules, don't like it...tough crappola. You are not in Kansas anymore. And that's not such a bad thing.

Very true we are not in Kansas but would be very nice if you went back there. Click your heels three times

[brling]

Thailand prides itself on never bring colonized. Why the hell would you think they would change? You will never own BUSINESS nor LAND! Remember that and stop pipe dreaming...

What I still will never understand is why foreigners whinge and whinge about not starting a business and not owning land. For Christs sake, enough already. This is not your country, these are their laws. their rules, don't like it...tough crappola. You are not in Kansas anymore. And that's not such a bad thing.

Stop whinging and get a life. Why are you Thai apologists never happy on this forum ?

[edko]

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.

Hmmm. I wonder how many of the thousands of Thai restaurants in the USA have an American partner? I know a Thai guy in Bangkok who ran a successful restaurant in Florida (sold it) but still commutes back and forth because he owns several rental properties (houses) in Florida. Seems to me that every country should have reciprocal agreements, i.e., if a foreigner in Thailand must have a Thai partner, then a Thai must have a national partner in the country he wants to set up shop in. If a foreigner can't own land in Thailand, then why in the hell should a Thai be allowed to purchase a home in a foreign country sans a mickey mouse recurring long term lease agreement as it is here? I can understand that the Thais don't want vast tracts of agricultural land transferred over to foreign agribusinesses and that they don't want vast swaths of beachfront property owned by international hotels and property developers, but 1 rai or less for a homestead?

[Dumbastheycome]

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.

And if you add to that that sole proprieters will possibly be deemed legal albeit denying non Thai is a semi radical move for Thailand. Even so it invites the western situation where an individual registers a company, then pay themselves an exorbitant salary until such time as the company is declared bankrupt and then fades away to languish on the losses of others. Eliminating the complication of non Thai individuals who can run for home seems rational.

Citing foreign ownership in other countries ignores the fact that such ownership is regulated by stringent conditions.

[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.

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..

Another assumption, actually i'm in the EU, but thanks for the misguided comment !

Edited July 12, 2016 by useronthenet

[xtrnuno41]

Well its Thailand and weird, or not?

I came regulary on a site of a Danish guy, dealing in real estate.

Maybe you know FBI , udon real estate

He did this already for 16 years, all the time all ok

However now they wouldnt allow a liscense for him and he HAD to shut down his business.

His site is (was ) still up, but will be gone in a while i guess

Imagine 16 years all ok and then ...over.

Guess many will be shut down then ,doing business in Thailand, from realesate to restaurants to what ever.

As now also condo and house owners cant rent out for holiday rentals, also prohibited.

When you get new visa to fill in forms of your personal nature, where you are on internet.

They also look at houses, buildings built on wrong places, you can break it down if not ok

and otherwise they will do it for you.

Thailand is taking revanche with the interfering of the EU and USA.??

There is a lot going on inThailand. Probably more to come then.

[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.

That would mean they lost "face" that would be the same day pigs grow wings and red Bull guy goes to court

They seem to lose face every day, it doesn't mean anything to the outside world. If your in the wrong, you earn greater respect if you admit your faults, which subsequently leads the way to improving the system, something which is evidently lacking in Thailand.

Edited July 12, 2016 by useronthenet

[NCC1701A]

Thailand 2046. You want massage? Where you go?

[JAFO]

Thailand prides itself on never bring colonized. Why the hell would you think they would change? You will never own BUSINESS nor LAND! Remember that and stop pipe dreaming...

What I still will never understand is why foreigners whinge and whinge about not starting a business and not owning land. For Christs sake, enough already. This is not your country, these are their laws. their rules, don't like it...tough crappola. You are not in Kansas anymore. And that's not such a bad thing.

Stop whinging and get a life. Why are you Thai apologists never happy on this forum ?

Don't make me laugh. I am not a Thai apologist, that is such an ignorant response. I am just sick of reading over and over about foreigners who feel slighted, cheated, soured that they cannot open a business or they can't own land and that because of that Thailand is a stupid, 3rd world country so on and so on. Cognizant people get this. I usually do not get into pissing wars on TV but come on. Maybe they learned something from the mistakes the US made by opening up the borders to every one. I like that those things remain a deterrent here in Thailand to keep a s s hats from coming here and exploiting it. Next up you would demand rights to vote and be a policy maker because some how foreigners think they are just that good.

As I have always said, Take Thailand for what it is, and isn't.

[ozyjon]

I think the falangs who contribute to this forum are generally

from English speaking countries or educated in the English

language, i think the Thai government look at us as a speck

of dust, i think their main law making machines are mostly

concerned with the red falangs to their north. I read an

article where China has purchased a huge part of Africa to

cultivate food to feed it's people and looking to buy land in

other countries (maybe Australia) so let's see, to get the real

picture of the Chinese infiltration power just take a drive around

Laos to see how the Chinese are changing the landscape.

Soon coming to a town near you.

[DrTuner]

Thailand 2046. You want massage? Where you go?

Ayutthaya?

[GAZZPA]

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.

I heard that, it is only America that has this special agreement. But I had a friend from the US who enquired about this and he said it is an absolute minefield and very difficult to get it done.

[GAZZPA]

I think the falangs who contribute to this forum are generally

from English speaking countries or educated in the English

language, i think the Thai government look at us as a speck

of dust, i think their main law making machines are mostly

concerned with the red falangs to their north. I read an

article where China has purchased a huge part of Africa to

cultivate food to feed it's people and looking to buy land in

other countries (maybe Australia) so let's see, to get the real

picture of the Chinese infiltration power just take a drive around

Laos to see how the Chinese are changing the landscape.

Soon coming to a town near you.

You might be right with that observation, although not sure I have ever heard the term red fallangs, anyway.

Whatever the Thais think they can do to stop the Chinese they can't. One way or another Chinese money, Chinese ownership and Chinese dominance will happen in this region. It is happening all over the World and it won't stop.

China is getting wealthier every year and with such an enormous population there is no stopping the spread of Chinese wealth, and why should there be. Don't we all want to investment? What difference does it make if the money comes from China, or the Middle East or Europe or the USA, money and investment is still money and investment.

If there are a lot of Chinese rich people let them invest, they can always put restrictions on the labour force so Chinese companies will end up employing Thai people, what's wrong with that?

Anyway you look at it if Thailand wants to develop, if it wants to be the global player it currently pretends it is then it has to adapt and become interesting to investors, simple as that.