On January 9, 2007, the incumbent Cabinet appointed by the Council for National Security approved a bill to amend the Foreign Business Act 1999. The most significant issue was an amendment of the definition of “alien” to also include companies in which foreigners have the majority vote regardless of their ownership in the companies. This article discusses the details of the pending bill.
Piyanuj (Lui) Ratprasatporn
Partner and Director, Corporate & Commercial