I posted this in another thread but feel the info probably deserves a thread of its own. I'm not sure how much the law is enforced but there are many business's a foreigner by law is not supposed to be able to do.
The Foreign Business Act contains three lists of restricted businesses that cannot be conducted.
Activities in List One cannot be carried out by foreigners. These activities include: media operations, agriculture and farming, trade in “ancient Thai objects.â€
The government class Thai Limited companies as 'foreign' when foreigners hold 50% of the shares + 1 share.
Hence the reason why we have to set up 49%/51% company structures so that the company is classed as 'Thai', when involved in any business listed on the FBA.
Cheers Burger - but the reason of the post was not related to setting up a company for the reason to buy land / house etc. I posted this because some people are confused what type of business is allowed to be owned by a foreigner in Thailand.
For us Yanks, I know there is the Amity treaty, and I believe, from talking with a few people I have trust in, that there are exceptions if the company is formed through the treaty.
I'm looking into it more in depth, but it is going to be a while until I need it.
