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Greater Non Thai Ownership In Property Companies

May 15, 2008 – Since the fall of the Junta in 2007, pressure from the business community regarding FDI seems to be having an impact on the new Thai government.

On May 15th, it was announced by the Thai Finance Minister that they are going to allow greater non Thai ownership in property companies.

This, according to Mr.Surapong Suebwonglee, "is going to stimulate the market."

Although we think this is a small step in the right direction, the recession in the West looks as though the new measures will have little affect on the "mid range" properties, where developers, who have made a serious investment in Phuket, are finding things extremely sluggish.

On a brighter note, we are happy to report that the "high end" of the market is going from strength to strength, and it can now only be a matter of time before the mid range picks up again, either because of price reductions, and/or through the stimulus package the Thai government appears to be implementing.

Phuket Property News - Annex 111 Relaxed for Foreign Businesses

April 6, 2008 – The director general of the Business Development Department (BDD), Kanissorn Navanugraha, stated last week, that for foreign investors in the financial / operations leasing, factoring and rental sector it will be made easier for a foreign company to have more than a 50% stake in their Thai company.

It is expected that the Deputy Commerce Minister, Banyin Tangpakorn will come up with a way of changing the Annex 111 foreign business act that will allow other sectors such as, government relates service companies, foreign subsidiary companies, agency companies and logistics management companies, to also have their percentage share of a company increased, as the new government believes the old laws were too restrictive and stifled foreign investment.

From what we can gather the Annex 111 law was meant to relate to businesses where Thais were, as yet, unable to compete with foreigners.

It looks as if some national pride had been swallowed in this small bid to gain further foreign investment.

Further easing of restrictions will undoubtedly involve "face" but when it comes to money, who knows, as Phuket's major business problem continues to be finding quality staff.

Phuket Property News – Natai and Sava Developments Released

April 2, 2008 – April the 1st was the day The Natai and Sava developments at Natai Beach, Phang Nga invited everyone for a "spectacular sunset BBQ" to launch their opening.

Although not "strictly" Phuket, who could turn up an offer like that, free grub and drinks at one of the most prestigious projects in Thailand?

Natai Beach, nicknamed "Greater Phuket" is one of a few new developments that are springing up around Phuket island and being only 20 minutes from the airport all the facilities of the island are readily available although as yet there are no local services to speak of but this is only a matter of time.

The whole area is "up market" and is probably one of the best investment opportunities around, for when all the usual amenities are in place, property values are sure to increase and are already approaching Phuket prices. As beach front land is virtually impossible to buy in Phuket it is no surprise that all the beach front properties at Natai have already been sold "off plan" with only a few left on Sava.

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