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for newspaper articles (including
analysis of the Krabi property market compared to the rest of
Thailand).
Impact on those who wish to come to Krabi
and buy a property of the last 6 months of government rulings.
The past 6 months have been an interesting period
for investors considering coming to Krabi to buy a property. First
came the ruling 6 months ago that, if a company had any foreign
shareholders at the time of its formation, it would forever be
ineligible to buy land in plots of more than 1 rai. This caused
considerable upheaval for Krabi businesses having property for
sale and for investors coming to Krabi to buy a property, as foreigners
wishing to buy a Krabi property could previously buy the land
through a Thai company which they controlled. In Krabi, to buy
a house through a Thai company may be still feasible, but will
be more complex. Most foreigners will continue to lease the land
and to buy the Krabi house. More rulings are expected in this
area. Then came new visa rules, which at first seemed to mean
that certain foreigners would be forced to stay away from the
country for months at a time - thankfully this has proved not
to be the case and it is clear that the new rules are there to
keep track of undesirable foreigners and not to deter investors
in Krabi who wish to buy a property. Next the Thai government
imposed investment restrictions on incoming capital flows, whereby
investors must deposit 30% of their money, for a year, in a Thai
bank account. The next day the government responded to the resulting
collapse in the baht by watering down the restrictions. Thankfully
these new rules have no affect on those people wishing to come
to Krabi and buy a property. Then the government ruled that preferential
shares with extra voting rights could not be used to control a
company, where the foreign ordinary share ownership is capped
at 49%. This caused widespread panic among the many large companies
which have been using such share structures to control their Thai
operations. Thankfully the goverment later decided to only apply
this ruling to new companies. Again, zero imact for people wishing
to come to Krabi and buy a property.
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