travelerjim
April 10th, 2007, 19:30
Restrictions on foreigners' voting rights relaxed
as reported on thaivisa.com - and The Nation...
http://www.thaivisa.com/forum/index.php ... pic=115616 (http://www.thaivisa.com/forum/index.php?showtopic=115616) .
BANGKOK: -- The Cabinet has relaxed the restrictions on foreigners' voting rights as well as extended the grace period in voting right adjustment.
At the meeting Tuesday, the Cabinet approved the proposed amendments to the Foreign Business Act: foreign voting rights in companies in Annex 3 can exceed 50 per cent while the grace period for voting rights in companies in Annexes 1 and 2 is extended from 2 years to 3 years.
Under the previous draft, any firm in which foreigners held 50 per cent or more of the shares, or 50 per cent or more of shareholders' voting rights, would be considered a foreign company, excluded from business activities reserved for Thais.
-- The Nation 2007-04-10 .
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I wonder how long it will be before the rules governing real property purchased by "companies" as set up as before...will be changed ???
Looks like the new government is "looking over its shoulder" at the loss of business investment dollars....
and the gains being made by other SE Asian countries in business...with their more favorable rules about company ownership, investment and
property ownership rights to attract both the investment capital and foreign purchaser of real estate....
and the effects of a Thailand economic slowdown - as predicted by the economists - plays out in the coming months.
Time will tell...and the clock is ticking.
TJ
as reported on thaivisa.com - and The Nation...
http://www.thaivisa.com/forum/index.php ... pic=115616 (http://www.thaivisa.com/forum/index.php?showtopic=115616) .
BANGKOK: -- The Cabinet has relaxed the restrictions on foreigners' voting rights as well as extended the grace period in voting right adjustment.
At the meeting Tuesday, the Cabinet approved the proposed amendments to the Foreign Business Act: foreign voting rights in companies in Annex 3 can exceed 50 per cent while the grace period for voting rights in companies in Annexes 1 and 2 is extended from 2 years to 3 years.
Under the previous draft, any firm in which foreigners held 50 per cent or more of the shares, or 50 per cent or more of shareholders' voting rights, would be considered a foreign company, excluded from business activities reserved for Thais.
-- The Nation 2007-04-10 .
----------------------------------------------------
I wonder how long it will be before the rules governing real property purchased by "companies" as set up as before...will be changed ???
Looks like the new government is "looking over its shoulder" at the loss of business investment dollars....
and the gains being made by other SE Asian countries in business...with their more favorable rules about company ownership, investment and
property ownership rights to attract both the investment capital and foreign purchaser of real estate....
and the effects of a Thailand economic slowdown - as predicted by the economists - plays out in the coming months.
Time will tell...and the clock is ticking.
TJ