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Foreign Business Ownership Laws Changing in Thailand

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  • Foreign Business Ownership Laws Changing in Thailand

    Hi,

    I am involved in a business that has a company registered in Thailand. Up to now, we have been able to have 100% foreign ownership, as long as we had the right number of Thai shareholders etc.

    I understand this week, that the Thai Government is thinking of changing the law, so that all companies must be at least 51% Thai owned. Seems to stem from the games that the former Prime Minister was doing with Shin Corp.

    This will have a huge impact on major foreign companies operating in Thailand. We may have to pull out of the market if these laws come into effect.

    Anyone else facing similar issues?

  • Heatman
    replied
    When the law on ground doesn't suit your company's business profit motives well, then the obvious decision which should be left for the company's board of directors would be to pull the plug on the business operation in Thailand. In as much as the company's business would be affected in a very bad manner, Thailand citizens suffers a good lash-back because lots of people would have to lose their jobs. Governments should be very careful with how they set up new business polices and enforce them.

    Leave a comment:


  • noah015
    replied
    If you need a good income, I recommend that you think about cryptocurrency. I trade a couple of months with cryptocurrency from https://www.crypto-rating.com/how-to-spend-bitcoin/ and I feel that there are no limits for earnings. It all depends on your desire and investment. I am pleased to find guys who are safe and secure.

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  • AngelaPatel
    replied
    Great insight. I hope everything works out for the good.

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  • Corzhens
    replied
    The proposal here is the opposite of the business ownership in Thailand. We are presently at 51% ownership by Filipinos. But the president has sounded to the legislature to allow 100% foreign ownership maybe to perk up the industry in helping the economy recover from the inflation. I don't think congress will be able to come up with a law like that because it runs counter to our protective culture.

    Leave a comment:


  • s.smith
    replied
    Re: Foreign Business Ownership Laws Changing in Thailand

    Thanks for sharing it !

    Leave a comment:


  • Corzhens
    replied
    Re: Foreign Business Ownership Laws Changing in Thailand

    Pardon me if there are Thais here. The state of Thailand's government is still under Martial Law hence the economy is shaky. Worse the economic policy is ever changing so foreign business have that apprehension. I'm sorry to say that Thailand is not a good business venue for now maybe until the government is back to normalcy.

    Leave a comment:


  • Rob O'Byrne
    replied
    Re: Foreign Business Ownership Laws Changing in Thailand

    Originally posted by Tom Case View Post
    Hi,

    I am involved in a business that has a company registered in Thailand. Up to now, we have been able to have 100% foreign ownership, as long as we had the right number of Thai shareholders etc.

    I understand this week, that the Thai Government is thinking of changing the law, so that all companies must be at least 51% Thai owned. Seems to stem from the games that the former Prime Minister was doing with Shin Corp.

    This will have a huge impact on major foreign companies operating in Thailand. We may have to pull out of the market if these laws come into effect.

    Anyone else facing similar issues?
    Tom,

    Yes we are facing problems due to these changes in regulation. Also the changes in the labour laws are quite significant. I think it now stands at having to have 8 Thai employees for every Westerner. We have basically had to stop hiring Westerners in our Bangkok office. That is fine, but it just narrows the field in terms of our recruiting ability. I can understand why these changes are occurring, but it must be damaging for business in the short/medium term.

    Leave a comment:

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