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Bangkok Post causes property panic E-mail

Panic swept through sections of the foreign investment community in Thailand on Tuesday night following publication online of a story in the Bangkok Post entitled ‘New property law stuns foreigners’. The piece, which appeared in print yesterday, drew attention to a directive from the land office in Chonburi which said that one of the traditional routes to property ownership for foreigners in Thailand – 49% ownership of a Thai company – would be put under increased scrutiny, and that the Thai shareholders involved would have to disclose their assets. Quickly picked up by popular forum site, ThaiVisa.com, the story had generated over 200 posts by 6pm yesterday. These ranged from anti-Thai rants, to questions about the future validity of condominium ownership and debates over when it is appropriate to put property in a Thai spouse’s name.

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