The way described in the article is indeed the way it has been until a few years back, but recent governments have made some attempts to become more open for fo

The way described in the article is indeed the way it has been until a few years back, but recent governments have made some attempts to become more open for foreign entrepreneurs; granted, it's still hard sometimes but I do have the feeling it's getting better. As far as our own company goes: we registered our first company a few years (2?) back and when we went into the process, we were also still under the impression that the foreign shareholders can only hold up to 49% of the shares. However, we quickly found out it was indeed possible for foreigners to fully own the company (according to the government official the regulations changed about a year before that). But we also quickly learned that this route would mean tons more paperwork and it would become more costly. We also needed to present our paperwork to the BOI, pay extra fees and hope they would accept the paperwork. And according to the government official, we would expose our company to tighter control from the government (which would probably mean more "tea money" as well). So, in the end we decided against full foreign ownership, although it was an option we considered. I realize many people are negative against owning a business here Thailand, perhaps due to bad experiences. I can only speak for myself (and a few relations who enjoy doing business here as well). Maybe I should mention I don't actually do business here, we pretty much only work with customers abroad. I love living and working here and wouldn't want it any other way for the time being!