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Originally Posted by Robert Gavin
Hi
You cna own land if you set up a Thai company first
veyr easy and cheap to do.
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Under the new regulations approved by the Thailand's cabinet and accepted for final action by the national legislative assembly, it appears the use of nominees to open a "Thai" business as you suggest will only get you a 5 million baht fine and a 5 year prison term. Your property investment will likely be swallowed up. Those who have already invested here are worried. The new rules haven't received final approval but they are expected to be in place by the end of summer. They will be retroactive and those here now will be the losers.
From the April 11th edition of The Nation, one of Thailand's English language newspapers.
"Third, the new draft will remove the amnesty for those violating the nominee law.
Fourth, the draft will increase the penalty for those violating the Foreign Business Law - from three to five years in jail, and from Bt100,000 to Bt1 million in fines to Bt500,000 to Bt5 million."