Investment in Thailand now a Dangerous Proposition

Discussion in 'Thailand property' started by AmericanInvestorThailand, Apr 26, 2007.

  1. 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.
     
  2. GringoBob

    GringoBob New Member

    thank you for that extremely valuable update - we have an investor coming here tomorrow who is not sure about whether to invest in Costa Rica or Thailand and I will most assuredly give him the information you have posted
     
  3. Robert Gavin

    Robert Gavin New Member

    I agree with AmericanInvestorThailand

    If you are an expat there and want to buy so you can sue you housing allowance to pay the mortage on your condo, then that's ok.

    But "Behind the famous Thai smile is a tiger waiting to devour its victim" is very true.

    IMHO, the main reaosn for the incresae in "xenophobia" is the fact that there are 1000s of old, rich and sexually predatory men coming over and taking the young women.

    Walk down Sukhumvit/ Siam Square of even chiang mai and you will see this.

    Adn don't even get me started on Pattaya! :)
     
  4. egeefay

    egeefay Senior Member

    Property in Thailand

    Since the recent coup, Thailand seems to be ruled by a bunch of people who are flying by the seat of their pants.
    They are making up the rules as they go along. And, frankly, a lot of their rules have backfired in their faces.
    Wait for the new elections in a few months (If they do happen)
    You should see a more stable government based on the rule of law
    Then look at the property market again.
    Thailand has a lot better infrastructure than Vietnam or Cambodia. It's luster as a hot property destination will be there for a long time to come.
     
  5. Sincere

    Sincere New Member

    Time to Invest in Thailand

    Thai properties are picking up as of now. A large number of Foreign buyers are Investing in Condos and apartments in and around Pattaya and Bangkok. Foreigners can legally purchase Apartments and condos in their own names, however for Villas they still have to go on a long 30 year Lease. Their are ways to get Villas as freehold too.
     
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