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AmericanInvestorThailand
New Member
Despite what has been written in some of the treads here, investing in real estate or businesses in Thailand is now very risky and in some instances dangerous. Thailand is in the process of amending the Foreign Business Act. Previously allowed investment structures will now be illegal. The amended act will be retroactive and as of the most recent draft there will be no amnesty. Many foreign nationals who have invested here will be facing loss of their investment and a potential prison term of 5 years under the new provisions despite the fact they used the services of Thai attorneys who advised them to structure their holdings in this manner. In Thailand, legal malpractice is no defense. It is not even a mitigating factor. Thousands of foreign investors and retirees will be affected by the new law.
Thailand has recently turned xenophobic and it appears unlikely this path will change in the near future. Behind the famous Thai smile is a tiger waiting to devour its victim. The National Legislative Assembly recently agreed to move forward with this Draconian act. Before investing do your own research. Thailand has English language newspapers. One such paper, The Nation, has free archive access. Search the archives using the term "Foreign Business Act". By doing your own research and not relying on so called experts you will save yourself a lot of grief.
Thailand has recently turned xenophobic and it appears unlikely this path will change in the near future. Behind the famous Thai smile is a tiger waiting to devour its victim. The National Legislative Assembly recently agreed to move forward with this Draconian act. Before investing do your own research. Thailand has English language newspapers. One such paper, The Nation, has free archive access. Search the archives using the term "Foreign Business Act". By doing your own research and not relying on so called experts you will save yourself a lot of grief.