" Existing companies have 3 years to turn at least 51% of the company's voting rights over to Thai shareholders..." This was increased from 2 years that was in the previous bill presented for passage.
The law now goes the the legislature for a final vote which is expected to be positive.
I guess this clearly means no more 'ghost' Thai shareholders and what impact this will have on existing companies set up only to buy property is unknown. Maybe no impact for those who can trust their Thai friends and in-laws as majority shareholders and who will have majority voting rights. More research needed. Pete
