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

[thaibeachlovers]

On 11 กรกฎาคม 2559 at 7:52 PM, gandalf12 said:

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.

I have to agree, but it should be the same for ALL foreigners in the west. No way can discriminate against a single country.

 

However, I support the Thais in their anti foreign ownership policy. My home country allows foreigners to buy property etc, and it has been an absolute disaster for the poorer people as they have been completely priced out of the property market in their own country as rich foreigners pay far too much to get a foothold in case it all turns to poo in their country.

[dageurreotype]

13 minutes ago, thaibeachlovers said:

I have to agree, but it should be the same for ALL foreigners in the west. No way can discriminate against a single country.

 

However, I support the Thais in their anti foreign ownership policy. My home country allows foreigners to buy property etc, and it has been an absolute disaster for the poorer people as they have been completely priced out of the property market in their own country as rich foreigners pay far too much to get a foothold in case it all turns to poo in their country.

 

Not really apples for apples izzit? 'Foreigners' able to buy property in Western countries are predominantly wealthy. How many wealthy Westerners would choose to buy property in a third world country, given many other options open to the truly 'cashed up'? Secondly, although potentially large swathes of land being bought up by 'foreigners' would introduce the 'cultural diversity' from which many of us are free, no Thai can be trusted to as a 'director' of a  'Thai Company', given their innate greed and facilitated by rampant corruption at land offices/company registration offices/ 'lawyers', and yes, even your Thai 'wife' and or family. 

 

There are many safeguards in civilised Western countries regarding your not being robbed blind/divested of all you own. Not so here in Lilliput. 

[Winniedapu]

Usual xenophobia.

 

I can tell you that having owned one company in Thailand, I will be in no hurry to do it again. To say that many Thais spend an inordinate amount of time looking for new and creative ways to be a pain in the ass of foreigner-created business, and that this appears to be an encouraged national policy, would be a gross understatement.

 

Winnie

Edited August 14, 2016 by Winniedapu

[Winniedapu]

On 7/12/2016 at 4:56 PM, lavezzi said:

Are you unhappy with that? I'm not.

 

Fair comment. On balance, me neither, though I think the tossers ought to lose some of the 3rd-world attitudes. Mind you, that might lift them out of the 3rd-world I suppose.

 

Winnie

[Winniedapu]

lol. Lilliput. Love it.

 

W

[soisiphok]

What's drinking cheap beer got to do with anything? ?I get the poor dress choice. If you have the dough you can buy your way into business & most anything here anyway. Of course you will NOT be protected by law.

.

Edited August 14, 2016 by soisiphok
Added last sentence.

[WhizBang]

So nothing has changed from the previous rules then, at least for foreigners.

 

But does this mean that previously, a single Thai could not own a company either?  So not only do they discriminate against foreigners, but also against Thais.    I suppose this was an attempt by the elite of this country to hold back the lower classes.
 

[JImH2O]

It's because we westerners will outperform, outcompete, out-the-shit-everything of Thai businesses.
In general we are better educated and more competent on all fields, the Thai lawmakers know that.

[LannaGuy]

so let's change ownership of Leicester City 

[dcnx]

It's not like people follow the rules anyway.

 

Instead of allowing us to own a company as one person and earn tax revenue from us, it pushes many to work illegally, causing unknown tax losses to the government.

 

Doesn't matter to me, there is always a way in Thailand. The gov can make money from me or not, their choice.

[digibum]

On July 11, 2016 at 4:53 AM, JAFO said:

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.

 

What?!?!? 

 

First off, every area does not have such an ethnically diverse group of areas.  

 

Second, you do realize that every immigrant group has done the same thing, don't you?   Little Italy ring a bell?  Chinatown?  

 

Part of the reasons immigrants clump together is an issue of practicality.  They loan each other money outside of the banking system because they can't get bank loans.  A Vietnamese guy who owns a strip mall leases only to Vietnamese because they would never be able to get a lease with no credit from anyone else.  Many do business in cash because they can't get merchant accounts.  

 

By the way, you realize that Bank of America, one of the largest banks in the US, was formerly called, Bank of Italy and was started by an Italian who originally provided banking to other Italian immigrants and working class families in San Francisco (which at the time was heavily Italian immigrant) who could not get banking services from big banks, don't you?

 

And why would you want Thais to review your business plan?  Do you think Mark Zuckerberg would have gotten a license to start Facebook in Thailand?   Thai bureaucrats would see the brilliance of his idea give him a business license?  Mai kao jai.  Denied.  

 

While the Thai government could put in safeguards to keep things from getting out of hand, your solutions make no sense.  

 

 

[digibum]

Sorry, double post.  

Edited August 14, 2016 by digibum

[digibum]

8 hours ago, JImH2O said:

It's because we westerners will outperform, outcompete, out-the-shit-everything of Thai businesses.
In general we are better educated and more competent on all fields, the Thai lawmakers know that.

 

It all depends on what kind of business you are talking about.  

 

I don't think lawmakers are concerned that you'll outcompete them on bars or restaurants.  They're concerned that a big multi-national company comes in and ends up owning a big piece of the Thai economy.  They don't want AirAsia coming to Thailand without a Thai getting a piece.  They don't want Toyota coming to Thailand without Thais getting a piece.  

 

So, yes, on that scale of business you are correct.  I highly doubt that they care much about the competition in many of the areas of business that most people are upset about not being able to be a sole owner.  

[digibum]

On July 16, 2016 at 1:24 AM, brianinbangkok said:

For tax reasons it would be good if Thailand allowed 1 man foreign companies for digital nomads.

 

Not even for that but it's a good example.  

 

How many digital nomads would come to Thailand, set up a business, hire locals for many jobs, and transfer knowledge and expertise that now end up basing themselves out of Makati or elsewhere in Asia?  

 

It's always funny to me when I see things like that big entrepreneur thing they had last month in Bangkok.  Well over half the people attending where not Thai.  Who is going to try and launch the next Facebook and give up 51% of the company on day one just so they can form the business?  From what I could tell in the press mentions, most of the VC and angel money crowd who attended were not Thai either so good luck funding your company when you've got some leech who owns 51% and has no cash invested.  

 

The only reason they have these meetups and conferences in Thailand is because it's a blast.  Then they all go home.  

 

I remember one quote from one of the organizers who said that one particular VC had invested hundreds of thousands of dollars in Thailand.  Wow!  That's nothing.  The guy isn't serious about investing in Thailand. 

 

[digibum]

On July 15, 2016 at 5:19 PM, thaibeachlovers said:

Quite right too. They are actually saving stupid farangs from losing all their money by buying businesses. For stupid farangs that insist on losing money, there are plenty of Thai women willing to assist them with that.

 

Fair point but most start up businesses regardless of where they are in the world, fail.  You're eliminating the chance for those who might become wildly successful.  

 

On July 15, 2016 at 5:19 PM, thaibeachlovers said:

As for the farangs that constantly bleat on that it's "so unfair that Thais can own businesses in my country, but I can't in Thailand" boo hoo. Who ever said life was fair? Get over yourselves.

 

True too.  

 

However, in all of the places I've ever lived, I've never seen a bigger group of whiners and complainers who do absolutely nothing to improve their situation.  

 

Come to think of it, I can't remember a coordinated effort on the part of business owners and would-be business owners hammering their embassies to intervene with the Thai government.  

 

Way too many people shrug their shoulders and say, "Well, that's the way it is in Thailand" and then go on a message board and rant about how unfair it is and if the Thai government just does one more thing they dislike they're going to leave (and of course, they never do).  

 

No group has ever gotten what they wanted by sitting on the sidelines and accepting what is happening to them.  Change requires action and unfortunately most expats are too apathetic or scared of being deported to do anything.  

 

The funny part is that if the US passed a law saying that Mexicans couldn't own land, there would be thousands of people in the streets protesting.  But farangs are told they can't own land and they piss and moan about it online and do nothing and can't figure out why the unfairness isn't obvious.  

 

[autanic]

Enjoy sun on your back. Drink way too ,uch alcohol than is good for you, spend your money wisely and locally, Supoort small businesses where possible, Make love to your Thai Partner at least twice a day and eat food cautiously and often.

 

Let some other fool worry about setting up a business, setup a UK company if you must that trades out of Thalamd to enjoy tax free benefits. 

 

Forget al, notions of owning land, there is no way the Thais will ever allow foreigners to own land  whether though a corporate structure or via an agency.

Edited August 14, 2016 by autanic

[GAZZPA]

On July 12, 2016 at 8:16 AM, Nearlynam said:

On July 11, 2016 at 6:26 PM, american12bthai said:

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.

When Thais go to other countries they get citizenship. This is something very few foreigners here do for some bizarre reason as they think they are superior.

I think it is the Thais who think they are superior my friend. One of the most Nationalistic countries I have ever been to or even heard of. In my country millions of foreigner own businesses and nobody pays attention. If they working, contributing, paying tax then whats the problem?  

[CKingtheTruth]

Fortunately law enforcement and financial supervision in Thailand is so lax that if one keeps one's head down, it is quite possible to make a living here as long as you don't upset your neighbours or become seriously wealthy. I know of expats who farm, fish, run garages for cars and motorbikes, sell seond hand junk or books, even sell food off carts at the market. There are all the tuition businesses, people who will help you manage paperwork for a fee, makers of bread or sausages, and so on. There are people who will 'unofficially" manage your condo or house while you are out of the country. There must be thousands of foreigners in the "grey economy". Businesses are not registered, they deal in cash and give receipts where necessary on receipt books you can buy at any stationary store without keeping the copies. None of them have work permits or pay taxes, practically all of them are or have been married to a Thai, usually a woman. One or two of them would have a hard time fining their way to their local immigration office or even locating a valid passport! So far the chances of getting found out by anyone who is not open to an under the table payment is minimal.