The number of foreign visitors in Thailand has increased remarkably over the recent past. Interest in retaining business and property has likewise escalated. Despite this, the Thai government has not relaxed rules on foreign ownership of land in the country.

™

While foreign land ownership is generally not available in Thailand, corporations are allowed to buy and own land in the State. Even corporations owned partly by foreigners are allowed to buy land. Foreigners have seen this as an opportunity to own property in the country. They have since availed of this option as a solution to the restriction.

Incorporation: The most common corporate form exploited by foreigners is the Thai Limited Company. The Thai Limited Company is easy to set up and requires few principals.

Here are a few guidelines on company registration in Thailand:

The company must first register with the Thai authorities. To register as a Thai Letselschade Advocaat Amsterdam company, the majority of the shares must be held by Thai citizens. The company requires at least three shareholders. Once the corporation has filed with the Thai authorities, they are already allowed to purchase land. Note that this option is different from the allowances for U.S. corporations under the Amity Treaty. Corporations registered under the Amity Treaty may not purchase land.

The Thai Limited Company offers investment options while protecting the principal investors. First, shareholders are only liable for any unpaid shares. Additionally, the registration process is relatively straightforward. So long as the majority of the shareholders are Thai citizens, the corporation merely has to file the paperwork with the proper government office.

Thai law requires that Thai citizens hold the majority of shares in a Thai corporation. However, Thai law allows for different kinds of shares. Ordinary shares grant the shareholder one vote per share. Preferred shares allow the shareholder multiple votes per share. In the case at hand, the corporation may choose to grant multiple Thai shareholders ordinary shares while issuing preferred shares to fewer foreign shareholders. Therefore, the company will qualify under Thai law. However, the foreign party may still retain control over the operations because they can assign more votes.

Land Acquisition: Once the foreign party has properly incorporated, they may purchase property like any other juristic person in Thailand. The favorable voting distribution allows the foreigner to retain total control over the assets held by the corporation. Therefore, the foreigner can decide when and where to buy and sell land. They may also determine how the land is used. All of the facets make this an attractive option for foreigners. Effectively, they may own land.

Despite these advantages, foreign investors must always consider certain issues. First, the foreigner must find a Thai citizen that they feel comfortable going into business with. This will involve networking which may be difficult with the language barrier. Thai and foreign parties may also have a hard time agreeing on the terms of the business arrangement. In any culture, it is difficult to find someone willing to offer his or her "services" free of charge. Finally, there are several minimum investment requirements. The foreign investor will likely have to deposit 10 million baht into a Thai bank account. This minimum often puts this option out of reach for the average investor. However, foreigners who can afford this minimum and meet the other requirements can effectively enter into business and own land.

Industrial transformation...

Before the industrial revolution, families sustained themselves through farming and other trades and crafts including carpentry, cloth production, and metalwork based upon proximity to sources of materials and supplies. In this context, the term "trade" refers to an occupation. Because such activities could be performed at home, and often augmented farmwork, families flourished in cottage industries. In this system, the family was the enterprise - manufacturing products in a workshop at home. Merchants brought raw materials to homes and would take finished products to markets. Entrepreneurs and agents would "put out" work to these workshops, which were in effect their subcontractors.

Journeymen were craftsmen who had completed apprenticeships, such as in carpentry or metalwork. Journeymen traveled between local communities with the right to charge a fee for a day's work accordingly. Apprentices were new practitioners who entered programs to receive training for their careers while working.

As the industrial revolution progressed, work was transferred from homes to factories when the required machinery became too large or expensive. Production moved from a decentralized to a centralized system, creating employment opportunities for laborers in factories.

Initially the "put in" system was used, where workers were treated as subcontractors within a factory and eventually became employees. Factory working conditions were often harsh. Labor movements were founded to fight for workers' rights, from which today's employment and labor laws have evolved.

As the economy shifted from family to commercial and industrial enterprises, employment opportunities grew. Entrepreneurs provided the innovation to start new enterprises in new or existing markets, with new products and/or services, from which new industries evolved.

Enterprises were established that had an identity in their own right separate from their individual founders and owners. An enterprise is an undertaking for prize or cause. Business entities such as partnerships and joint stock companies emerged over time, and eventually the concept of a corporation was developed - a legal entity that exists separately from its shareholder owners.

Trading took place in marketplaces. In this context, the term "trade" refers to buying and selling. A market is a set of potential buyers (prospects) and/or actual buyers (customers) and potential and/or actual sellers (suppliers) who are motivated to execute transactions. Motivated buyers have the desire, want or need, authority, and resources to demand and purchase a product and/or service. Motivated sellers have the desire, want or need, authority, and inventory to supply and sell a product and/or service. A marketplace is where buyers and sellers can meet to execute transactions. Street marketplaces were common in towns along sidewalks or as squares and covered buildings, and still are popular in many places around the world. Financial transactions were conducted in bourses or exchanges where contracts representing financial instruments were traded by dealers and brokers.

Through improvements in manufacturing techniques, such as production lines and automation, the scale of units produced increased dramatically. Through improvements in energy, transportation, and telecommunications technologies, reach extended into new geographic markets for acquisition of materials and supplies, and delivery of end-products.

Chains of suppliers of raw materials, manufacturers and distributors, merchandisers (wholesalers and retailers), and end-consumer customers emerged over time. Some enterprises decided whether to make or buy materials and supplies on a case by case basis. Others became "vertically integrated" by owning and controlling most or all aspects of their supply and demand chains to make hand-offs between processes more efficient and effective. Tremendous wealth could be generated for entrepreneurs participating in chains that created value through both sales and production activities.

Governance, administrative, and operational disciplines emerged as enterprises became larger, creating the need for managers, supervisors, and staff. As a consequence, executive, administrative, professional, technical, vocational, and clerical jobs were created. As such enterprises became stable sources of employment. The word "firm" was used to describe them - suggesting the notion of steadfastness. This term is still common today, especially for professional services partnerships such as accounting, architectural, consulting, engineering, and law firms, where trust and integrity are important factors.

Through acquisition or merger, enterprises can become "horizontally integrated" - offering the same products and/or services in different markets. Through horizontal integration, enterprises can gain economy of scale and become corporate "giants." The world's largest enterprises have gained scale by doing the same thing in multiple geographic markets around the world, although offerings may differ slightly through varying customer demographics and local practices.

In many industries, such as construction, energy, financial services, and manufacturing, there are a few very large global players that have grown mainly through acquisitions and mergers, and a large number of very small players that serve local markets almost exclusively. Joint ventures are also common that share risk, resources, and expertise.

Not only did the construction industry contribute to the growth of economies by building infrastructure, but it participated in globalization trends through the development of large enterprises, such as Bechtel, Halliburton, Black & Veatch, and CH2M Hill, that have worldwide reach.

Construction activity flourished with the development of residential, commercial, industrial, and corporate real estate. Through the use of prefabricated and modular buildings, the construction and manufacturing industries became interrelated.

Energy production and manufacturing activities globalized, driven by the aerospace and automotive industries, with such enterprises as Royal Dutch