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    Purachai Ruins Poors Thais

    By Anonymous, Created on: 01/02/2005, Last updated on: 04/01/2006

    » Thaksin's deputy PM Mr. Purachai is thinking about moving to New Zealand, according to Bangkok Post, 27th January. Purachai already has children there - studying / buying big-time real-estate. This despite his government continuing Thailand's ban on foreigner's...

    • Anonymous commented : Rooster - I agree with everything you've written here. I would only add Thaksin's political problems seem much larger than small-fry Sondhi. Thaksin does seem to have got badly off-side with the Prem faction. Many senior Thai military seem very unhappy about the way Thaksin family and associates have over-ridden them for top military positions. It is this - much more than Sondhi - which has spooked foreign investors, somewhat.

    • 8 replies, 5,107 views

    Forum

    thai divorce and property law

    By Anonymous, Created on: 21/02/2005, Last updated on: 16/01/2006

    » I'm a U.S. citizen and married to a thai guy in U.S., he has nothing in U.S. but business ownership, land and bank accounts in thailand. our baby is going to be U.S. citizen, i want to know, is it true by law that he told me that i cannot co-own any business, land or bank account of his? what can...

    • Anonymous commented : There are exemptions and a US citizen is THE BEST type of investor to apply to the (foreign) Board of Investment - see Thai-American Chamber of Commerce web site.

    • 44 replies, 19,067 views

    Forum

    Buying property in Thailand

    By Anonymous, Created on: 17/02/2006, Last updated on: 11/11/2011

    » Nothing much to say here is there, i think that IAN has told us all there is to know and believe me.......... .he's right.

    • Anonymous commented : BANGKOKPOST, 15 July 2006 ENCROACHMENT / SAMUI DEVELOPMENT Land scandal officials face probes SUPAPHONG CHAOLAEN Surat Thani _ Officials thought to have been involved in The Peak land scandal on Koh Samui have been recommended for disciplinary punishment. Caretaker Natural Resources and Environment Minister Yongyuth Tiyapairat said yesterday that he has asked the Land Department to transfer Suwat Vichaidit, a former Surat Thani land official, and investigate him for any wrongdoing. Mr Suwat faced a lightning transfer to an inactive post at the department yesterday. The minister also sought the Interior Ministry's cooperation to order a disciplinary inquiry against former Samui district chief Theerayuth Iemtrakul. Mr Suwat, a land official in Samut Sakhon's Ban Phaeo district before the transfer, formerly worked in the Samui land office. He was accused of issuing land documents on Koh Samui resulting in the encroachment onto land by developers. Mr Theerayuth was Samui district chief before being promoted to assistant provincial chief of Surat Thani. The environment ministry felt he neglected his duty, making encroachment possible. Mr Yongyuth said his ministry will press charges today against Suthep Wangdan, The Peak project operator, over false claims about the ownership status of the resort's land. The transfer came after Mr Yongyuth inspected Koh Samui and found massive encroachment of forest land on the island. A survey found that over 1,700 rai out of 6,900 rai of forest area on the island had been cleared, and some of the encroached areas had been turned into a land development project. The inspection followed an uproar over an advertisement by The Peak property project, on a website and in a property trading guide, placed by foreign firm Samui Property Solutions. The project, which spans 514 rai on Koh Samui's Kao Dang mountain, sells land for eight million baht a rai, amounting to more than 4.1 billion baht. The project developer had named two Thai companies, Great Hills International and Ratchathani, which are subsidiaries of Bangkok-based Piyavate Hospital Group, as owners of the land. An inquiry was being conducted to see if the two firms were owned by Thais. A group of local residents yesterday submitted a complaint to the minister opposing the distribution of ownership documents on mountainous areas of the island. They claimed investors had brought several fully-grown coconut trees onto the land to show it was being utilised and to claim ownership over the encroached plots on Kao Dang mountain.

    • 119 replies, 367,763 views

    Forum

    getting Thai nationality to work as a lawyer without getting married

    By Anonymous, Created on: 22/08/2006, Last updated on: 06/08/2007

    » Could anyone please advise me if my boyfriend, who is an Australian paralegal, is able to work and live in Thailand without getting married straightaway. He wants to move here and try to find a job in the law firms first, then we would get married when he settled down. I have heard that getting...

    • Anonymous commented : e shooting for foreigners and foreign investors/companies.

    • 11 replies, 6,207 views

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    Changes and Effects of Foreign Business Act

    By Anonymous, Created on: 10/02/2007, Last updated on: 27/01/2015

    » The purpose of this act since 1970s, is though no one clarify openly, to protect local industry against the foreign market invasion. Therefore FBA is in fact Domestic Industry Protection Act. Since 1990s of open door policy, Thailand had promoted vigorously FDI - foreign direct investment of almost...

    • Luvtat commented : Changing Thailands foreign business act could invite more compaines settingup shop here if allowed greater control over there assets. One by getting rid of that 51% thai investment rule, and adjusting the rule on thai's veruses farang working in company. I know I want the best people to handle my investment. Thai's would be hired if they can do the job required not because of a quota. You still need workers to make product so that usually is the most hired in the company you need managers that can talk with the workers and local suppliers.Also maybe ease up on ownership of land company is built on too not like there going to dig it up and take if they leave. Think about it. Would you lease the land that you might invest millions in on building your factory only after certain owner of lands says I don't wish to renew your lease. And they take factory buildings and sell for huge profit. Just think of the business tax and income tax Thailand could pull in from this. Might even learn how to run a business in the global world.Yes have safe guards to protect Thailand but also protect the major investor too. By doing that you would have investors begging to open compaines here . This a great hub area can reach all over by land even to europe.If you don't see that other countries will then you will be left out.

    • BrookeMan commented : fair competition for Thai and foreign investors, facilitate more business growth, and prevent nominee problems," she said. Friendlier for foreign investors She added that the amended law should make the environment friendlier for foreign investors and streamline business regulations. Moreover, Thailand should be able to compete under the coming regional integration, which will allow other Asean countries to hold up to 70 per cent of some service businesses. One proposal is to remove some industries from the FBA's Annex III, which lists industries that are off-limits to non-Thais. Annex III businesses that might be opened up include those involved in banking and insurance, as they have already have their own specific laws. In addition, the department has found that seven firms involved in tourism and hospitality businesses controlled by the FBA have likely breached the law by having a nominee, through which foreign owners employ a Thai to hold a majority share in the firm. The department is preparing to file the case with the Department of Special Investigation. The seven firms suspected of breaching the FBA are in tourism, restaurants, tour agencies, and property management. Most are in tourist-destination provinces, including Chon Buri, Chiang Mai, Trat and Phuket. Meanwhile, the number of newly registered companies in Thailand dropped by 18 per cent in the first eight months year on year, partly because of controls on the retail prices for the government lottery. In August alone, number of new firms dropped by 18 per cent to 5,204. Last month, 11 new lottery firms registered, compared with 317 in August last year. However, the department foresees stronger business expansion in the remaining months, averaging about 5,000 new companies per month. As a result, Thailand should end the year with about 60,000 to 65,000 new company registrations. In the first eight months, the number of business shutdowns rose 7 per cent year on year to 8,563. Last month, 1,236 firms closed down.

    • 18 replies, 93,164 views

    Forum

    Trend of economy in Thailand

    By Anonymous, Created on: 29/08/2007, Last updated on: 19/05/2012

    » Economy is to exchange currency or things depend on the agreement of conditions. Economy growth will depend on its factor. In my opinion, trend of economy in Thailand in the last half year may to expand. I have three reasons for supporting my idea. First, businessmen have more trust for investing...

    • Rooster2012 commented : y persons like Thai-expat and foreign investors who knew about these monopolitic and corruptive systems in Thailand, they will hesistate to invest in Thailand with the current political situations. The political crimate now is not suitable to real business and long term investments. The good-old-boys and families who are controlling the shares with big multinational companies will still have their meals, but any real new SME will get ahead without having the "mahanachan" and connections with these good-old-boy networks. How can Thailand gain confidence of Thai-expat and foreign investors back? Simple, Thailand will have to show the world that the real democratic processes exist and that the rules and regulations are modern and fair including open and transparent. What have been parading around since the 2006 coup de'tat until now...are simply mirage of lies and deceits under the cover of democracy and etc.. The grassroot people are the most to experience the suffering and hardship while the hi-so urbanites and their allies continue to ride the economic waves like their like-minders in Burma, Iran, PRC, and elsewheres.

    • 4 replies, 17,624 views

    Forum

    Property and busniess

    By Anonymous, Created on: 03/12/2007, Last updated on: 11/12/2015

    » am a frequent travel to Thailand. I love the culture and the country. Having traveled there often - I would like to have a second home there and have a business. I am interested in the hotel business and would like to own a 40-room hotel. I have done some research and found out the following 1. Foreigner...

    • banmebkk commented : 1. Foreigner can not have 100% Possession of business or land in Thailand, one has to start up with a local Thai partner - Does this mean all foreigners owned resorts in Thailand, are partnership projects? [b:39eu1lrn]Yes, you will need Thai partner.[/b:39eu1lrn] 2. If I do start a partnership with a local Thai partner, would I require his formal consent? to buy/sell, grow the business. [b:39eu1lrn]Yes, you will need his consent as his name will have to be on the business documents. If you find someone trustworthy, they will let you use their name for free. If you cannot find someone you can trust, I suggest avoid taking the risk. But you do not need his consent to grow the business, but you will need his consent to sell as his name will be one of the owners of the business and you will need his signature. Its up to you how you talk to your thai partner.[/b:39eu1lrn] 3. What happens when our “Foreign –Thai” partnership does not work out? Is there an exit route for me as an investor? Can I have complete control of the Project even as a partner? [b:39eu1lrn]You can have complete control, most foreigners who own business here only borrow thai peoples names to be on the document. But they run the business any way they like. Again this will be how your agreement with your investor is, sometimes they may be part share holder and put up some money, the rest is your control. Sometimes they want to manage it with you.[/b:39eu1lrn] 4. What are the "Return on investment" I should be looking at in this business? [b:39eu1lrn]Are you building your own hotel or buying one? How much are you renting rooms for? Staff salaries? You will need to figure that out, once you do you can calculate your ROI. If do not know how to calculate your own ROI, don't even try running a hotel. ROI on a simple 70 room apartment (not hotel) for rent with yearly contract is around 8-10 years, ROI around 8-10%, this is very basic 1 bedroom 25-30 sqm apartment. Rent at around 8000 baht per month. Costs around 70,000,000 million to build (land+building) fully furnish with low grade furniture. This is a location not in the middle of city. Typically ROI for hotels is around 5% or less, but for small boutique hotels it can be around 10%. If you are running a 40 room hotel, it should be around 10% given its just basic lodging. There are many factors involved, but this is just an estimate. [/b:39eu1lrn] 5. For A project like this what is a typical break-even period? [b:39eu1lrn]See answer for question 4 first.[/b:39eu1lrn]

    • 4 replies, 12,545 views

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