Thailand Has Seen This Movie Before

Living in Thailand for almost 30 years teaches you something.

Don’t panic too quickly when a dramatic new announcement hits the headlines.
Thailand has seen this movie before.

Back in April 2017, just before Songkran, it was suddenly announced that people could no longer travel in the back of pickup trucks. Now, anyone who knows Thailand knows what that means.
Millions of people use pickup trucks. Families use them. Workers use them. During Songkran, half the country seems to be sitting in one.
The strict enforcement started on 5 April.
Reality arrived shortly afterwards.
By the following day, the government was already relaxing the implementation.

Then we had Bangkok street food supposedly disappearing from the streets.
The ฿300 tourist arrival fee that was announced, postponed, announced again, postponed again and eventually abandoned.
There was even the idea of special SIM cards for foreigners so their movements could be tracked.

Thailand sometimes has an interesting way of making policy.

First comes the announcement.
Then comes the headline.
Then comes the reaction.

And somewhere afterwards comes the practical question:
How exactly are we going to do this?

Which brings me to the latest anxiety among many foreign residents and property owners: Thai companies and nominee shareholders.

Let me be very clear.

Illegal nominee structures are illegal. They have been illegal for years. If people are deliberately using fake shareholders purely to circumvent Thai law, nobody should be surprised if the authorities investigate them.
And the government is currently taking the issue seriously.
But there is an enormous difference between organised nominee abuse and an ordinary foreign resident who has lived in Thailand for many years, runs legitimate businesses, pays taxes, employs people, has a family, owns a home and generally gets on with life.

That distinction matters.

So perhaps, just perhaps, the dust is starting to settle.
My slightly wishful prediction?
The scary headlines will eventually become quieter.
The genuine crooks will hopefully continue receiving attention.
The lawyers and accountants will become more careful.
Documentation will improve.

And thousands of perfectly normal people who have built their lives in Thailand will discover that the sky did not fall down after all.

Thailand still needs foreign investment.

Thailand still needs international business.

Thailand still wants people to invest, work, retire, buy condominiums, rent homes, build businesses and spend money here.
That hasn’t suddenly changed.

I’ve lived here long enough not to underestimate a Thai government announcement.

But I’ve also lived here long enough not to overestimate one.
Sometimes you simply need to let the dust settle.

Preferably with a cold beer while you’re waiting.

KC Cuijpers
CEO, Town & Country Property Co., Ltd.