foreign ownership

  • Thailand NewsCommerce Ministry cracks down on hidden foreign ownership

    Commerce Ministry cracks down on hidden foreign ownership

    The Commerce Ministry intensifies its scrutiny of businesses allegedly using Thai nominees to hide foreign ownership, focusing on sectors like tourism, real estate, and logistics. Auramon Supthaweethum, director-general of the Department of Business Development, stated that under the Foreign Business Act of 1999, foreign firms must secure permission as outlined in specific lists before starting operations. A Thai limited company…

  • Business NewsThailand proposes 75% foreign ownership in condos, extending leases to 99 years

    Thailand proposes 75% foreign ownership in condos, extending leases to 99 years

    The government’s proposal to increase foreign ownership quotas for condominiums to 75% and extend land leasehold terms to 99 years has raised concerns, though officials are downplaying potential negative impacts. Government spokesman Chai Wacharonke addressed these concerns in a Facebook post, asserting that regulations could be introduced to mitigate any adverse effects on Thai citizens. The proposal aims to raise…

  • Thailand NewsPM dismisses concerns over foreign condo ownership plan

    PM dismisses concerns over foreign condo ownership plan

    Prime Minister Srettha Thavisin dismissed allegations that a government proposal to increase the foreign ownership quota in condominiums and extend land leases is akin to “selling off the nation.” “It is about long-term leases, not selling land. It has nothing to do with selling the nation.” Last week, the Cabinet ordered a study into raising the proportion of foreign ownership…

  • Thailand NewsGovernment may raise foreign condo ownership limit to 75%

    Government may raise foreign condo ownership limit to 75%

    The government considers increasing the foreign ownership limit in condominiums from 49% to 75% of a building’s usable space, as disclosed by Deputy Prime Minister Phumtham Wechayachai. The Interior Ministry is evaluating the feasibility of extending the maximum leasehold period for foreigners from 50 years to 99 years. Phumtham stated that this proposal was first discussed at a Cabinet meeting…