eljeque

Go to Friendship and Carefour bulletin boards.

And, go to Mityon, which has many shops for new and used bikes here.

One of the may Mityon shops is opposite Friendship Market on South Pattaya Road.

Your accountant who built th company to own your house will best be able to advise you as to who is on the company paperwork. If she is not there, then no problem

next. if she is suing for divorce, then she may try to get the value of 1/2 of your shares of the company. You own "34%" of the company .. more than likely, so even if she could pull this off, she would try to get 17% of the company. She cannot sue for your directorship.

Did you tell the police that she burned your passport and the chinote. Burning the chinote, a government document should get her in a lot of trouble.

Back to your shares. If you have a friend here, sell some of your shares to him, and then you still remain the sole director. This way, her "1/2" of your shares will be worth even less. Or, completely sell all of your shares to two friends and transfer directorships to them, so that you have nothing. They can sign resale papers of the shares to you for future use.

I wish you the best of luck

Sell it to someone whom you know and trust.... for pennies.

Then, take a power of attorney from him.

Now, it is not in your or your wife's name.

It is not longer yours as an asset and cannot be taken away from you.

Then, the lenders will need to find other assets of yours.

I have taken my gf to Singapore a couple of times, and never had any problems. She went herself once to work in a restaurant. 15 day visa granted.

I think after one or two trips, she will have had enough.

It will generally take the gov. about 5 years to close the company for non-payment of taxes.

Then, the gov. may or may not look at company assets, and find the properties.

Or, the company may exist for 10 years without being closed for non-payment of taxes, and not get closed.

PM me, and I will send you my email address and get you in touch with someone who can take care of it, if your property is in Pattaya.

I know someone who had 4 properties, 4 companies. Never paid taxes on anything. Knew nothing.

One company closed by the commercial office, and three still open.

OUTCOME:

The closed one will have to have an attorney file papers to go to court to have it reopened, pay back taxes and penalties.

The open companies will have to pay back taxes and penalties for many years. No attorney required, only your accountant to prepare the balance sheet and tax papers.

It is a lot of work so it is not cheap cheap like the normal yearly filing.

1. I do not remember the law exactly, but it does indicate that a builder must guarantee the house for a period of time after it is completed, especially when it is a development, not simply one house.

........... A lot of buyers at a large expensive development in Bangkok are suing the builder for shoddy workmanship. It is FAR from being unprecedented.

2. I am suing the builder of a small house which I contracted to have built because he did not finish the work he was paid for. Not the same case as yours.

It is highly unlikely that you would be able to get a loan here to buy a condo. HIGHLY!!

So, you will not need to worry about the interest on the loan.

Few people report their income from rental property, so it is unlikely that you would need to worry about taxes either.

Being a overseas landlord is not a lot of fun. It is really worth your while to consider buying the property at the time that you plan to relocate here and investing otherwise to get a return. it the property market is your bag, and you are big on Thailand, then consider a property fund, as it requires no maintenance, and you can sell at an instant.

Good luck

It varies from agent to agent.

Some want their entire 3% or 5% from the 10% deposit..... Although it is not due to them, and make sure the contract does not mention that they have the right to it at that point in time.

If the agent is going to hold the deposit until the closing date, which is common but not 100%, then make cure in no uncertain terms that the agent will turn that money over to you (the seller) on the closing date whether or no the buyer has all of his money together.

You do not have to cancel the contract if the buyer is late, which is common when buyers are moving money from overseas, but demand that the funds are forwarded to you on the closing date, and give the agent maybe 1/3 of his commission.

I have a complete 3% commission to an agent who got a 10% and then an additional 5% late additional deposit for me...... then the buyer disappeared. I got 12% and the agent got 3%.

Try to get a minimum of 10% as a deposit. It does not mater if the agent tells you that 10% s standard. There is no standard. There is only what you want to do, and what you allow to be done with the sale of your property.... and you do not want to put off a buyer by asking too much.

Also, unless you get a large deposit, do not allow a lot of time for the buyer to arrange for funds. It is quite common for buyers to default.

Of the last 4 houses I have sold, there have been 8 buyers making deposits.

1/2 of the buyers have defaulted. It is really rather common.

Good luck

I used Seamico for a few lucky years.

I was very happy with their website, trading platform and service.

As MattSF218 said, but NVDR (Non Voting Depository Receipts).

These are dividend-yielding shares which do not provide voting rights.

As Crushdepth said, hire some college students.

My gf and I were in Royal Garden - Pattaya and two attractive college women were standing around with forms in their hands.

My gf, being the inquisitive type, jumped at them to see what they were up to, and to offer me as their first--or near first guinea pig.

She convinced them to be more aggressive about talking to the tourists who were there, and it did motivate them to get more people to start filling out the surveys.

Find an a/c location, make sure you have plenty of pens available, something firm to write on, a little snack for then, or their kids, etc.

Good Luck

Vientiane is lovely, but nothing like Pattaya.

If you in need of a visa run, and you are considering looking elsewhere, make the trip to Vientiane and spend several days there.

You will find many descriptions in the Visa-Vientiane section.

It is a wonderful little town.

Thank you so much for explanation, I didn't know about the 1 company 1 property rule.

It is not a rule, you can put 10 properties into one company, but when you sell the properties, you would then have to pay company taxes for each sale.

If you have one property in one company, then you simply transfer the shares of the company to the new owner and it costs about 7,000 baht.

So you mean that there is no risk to buy condos in my name and rent them without making any company and declaring anything ?

After living here for 1/2 of the last 20 years, I know a lot of people who simply own a lot of units int heir own names, and put the rent in their pockets. I do not know anyone who declares it as income. I am sure that there are some people out there who do declare it, but only a very small percentage. There is no system in place in this country to see which units create revenue and the like.

But if I want to set up a company, can I do it myself for cheap or do I have to pay a lawyer for every company to setup and every condo to buy ?

An accountant does all of the work, so there is no need for a lawyer. Companies cost about 30,000 baht. You will need an accountant to do the work and go to the land office with you when your company takes hold of the property. This will be another 7,000 or so.

Yes, I will live near the condos I will buy (pattaya . bkk) and will do it as a full time job after I will have enough properties, and I can repair / improve everything by myself, no problem.

Great. Do not count on friends to take care of your headaches here, as over time, they will resent it, and you will not realize the ordeals that they may have to go through. And most of all, do not give the responsibility to a local agent!!!

Good luck.

Do you know the place where you are interested in buying?

Remember, there will also be approximately 10,900 baht / year in taxes and balance sheets each year for the accountant. Deduct this from your income. If you have low cost units at 8,000 / month, and they are rented 9 months / year the 10,9000 / 72,000 becomes a large portion of your income, so remember to take this into account.

You are far better off to be able to get a condo in your own name. I am not a condo-type person, but it is really in your best interests to buy in your name--one of the advantages of a condo.

Take care.

Consider the money invested otherwise, and the return then spent on a hotel room, in a location which you enjoy.

Lower-priced real estate appreciates more slowly than do better properties, so you will not get a lot of gain out of the property.

Resale may not be too easy either.

As you plan to use the unit only for a very limited period of time each year, do you really need to own it, and not receive and gain/benefit from it for the remainder of the year.

It may really be a bit easier for you to simply grab a hotel when you are in town, and have one less thing to worry about.

Best of Luck

Plenty of people buy a condo in their name and then rent it out and have nothing to do with the tax man. They never mention it.

If you have to buy the condo in a company name, because the 49% limit has already been reached, then your accountant would show the income from rent ( a lower amount than actual) as income and pay the taxes on it each year.

Generally, when buying property in the company route, you would only put one property in each company, that way when you want to "sell" one of he properties, you would only have to transfer the shares of that company. If you had three properties in the company, you would have to actually sell the property out of the company and pay taxes on the sale.

You would find it difficult to sell (transfer shares) one company with three or four condos in it.

If you are able, it may be a lot easier to make sure to buy only properties which can be in your name.

At reasonable prices, you will be able to find tenants in most locations, but if something breaks.

Do you have repairmen available to make the necessary repairs?

Are you going to live in Pattaya so that you can fix anything that goes wrong?

Were you going to enlist a RELIABLE AND HONEST agent to take care of things if and or when you are not in Pattaya?

Renting property can become a lot of work, so try and prepare for what could become, on occasion, a bit of work.

Good luck.

Fong Tong Enterprise

The owner/manager speaks English fluently

I have had 24 books printed with them.

Fong Tong Enterprise

33/1450 Chokechai 4 Soi 54, Lardprao Soi 53, Bangkok 10230 Tel: (66-2) 932 9208Fax: 02 539 4987

Email: [email protected] (or) [email protected]

Good English Speaking Lawyer

name : TDoy

038 300 588

089 779 9009

Opposite the Land Office

Top Properties and Law Office

These shots are of a bus which came sailing down Thapraya and was not able to make the turn towards Jomtien Beach. Instead, it went into-through the parking lot and struck this large cement cube, knocking it back quite a distance, and finally lading upon it.

The close up shot is from the south.

The distant shot is from Thapraya Road on the way to Theprasert Road.

If you can rent, then do it.

It is very difficult to resell a property in this city.

There are so many available.

It has been like that since I sold my first house here 16 years ago.

Every property for sale is too expensive and that is why it has not sold.

20% , as stated above, is a fair amount to deduct from anyone's asking price.

Many sellers will not take it, and will instead sit on their property another couple of years.

Selling a house here is not any fun at all.

There are so many reasonably prices rentals, there is no reason to buy.

Worldwide, property is not the place to have money right now.

Look at a house with an asking price of 4,000,000 and a sign "For sale or rent"

The rent will be about 25,000 asking.

You could get it for about 20,000 for a one-year period.... and if one owner will not take your rental money, keep looking, there are many others who will.

Rents give a lot better valuation on property than anything else.

There are always so many places for sale here that rice increases on used property are very minimal.

OK, my 3 cents worth.

You can take a bus to NongKhai (double entry) or to Mukdahan (single entry) from Pattaya

NongKhai bus (for Vientianne)

Sukhumvit Road at the gas station bus station just north of Central Road

Cab to the border

Group cab to the embassy

Fill out forms and stand in line

Grab a hotel

Come back the next afternoon

Return to the border

Go to the same bus station (about 4:30) get the bus home to Pattaya

Mukdahan Bus (for Savanakhet)

North Road Bus Station, 200 meters from Sukhumvit

Bus at the bus station will take you to Savanakhet,

Stopping at border, get your visa (1200, or 1400 baht)

Taxi from Savanakhet bus station to the Thai embassy

Opens at 10:00

Fill out forms and deliver them

Get a hotel

Nothing to do in this city

Come back to the Embassy the next afternoon

Get your visa and go to the bus station

Take the bus across the border to the Mukdahan bus station

Grab a cab to Lotus

This is a small Lotus

Not a shoppign Center Lotus

Burn time here until your bus leaves (about 6:30 or 7:30PM)

California WOW is in The Avenue Mall. On 2nd Road nearly opposite Mike's Shooping Center, just south of Soi Diana

The monthly price whch was quoted to my mother was 5,000 baht

The lifetime price was 11,999 for three years, and then 3,000 / year after that.

The equipment is very good, the hours are 7:00PM to 10:00PM (or later)

The music is bothersome.

Go to a dealer.

Make sure they do not give you a skinny little front tire.

Get a front disk brake.

BUY A GOOD LOCK

I travel a lot within thailand and have come to take this as an occupational hazard, im not condoning it but i just pay up and sod of,. its nothing personal and if if they were paid decent wages they wouldnt have to do it,.the government seems to turn a blind eye to it so i do too,.

The ministers make more than decent wages and are corrupt. The police wages could be doubled over night, tripled, and nothing would change. Those who runt the police stations make millions and they have not stopped being corrupt, so there is not reason to believe that an increase in wages would lead to a reduction in corruption.

It is not an enjoyable position to be in, an overseas owner.

You will always be able to find your lovely property here in the future when you are ready to stay here full time.

Selling in Thailand is rarely an easy task.

Take paperplates advice, the rent to value ratio here is very low, and so it is really beneficial to rent.

Good luck

For all practical purposes, foreigners pay cash for property here. Only the rare case does a "foreigner" arrange for a loan in any manner.

One friend arranged a loan through his maid and her son, and another friend got a loan through a friend's wife.

It is not impossible for a foreigner to get a loan, if he has a work permit, great credit here, etc.

I wish you luck, and please report back with your findings.

Use about 10 agents, and post your information on the carefour and Freundship bord with a note that agents are welcome to call in. This will bring in many local Tai agents, employed by a agency or not, who will, through contacts peddle your property and bring around lookers. One of many ways is to offer financing for a few years at 9%. 20% down.

Selling a house is Pattaya now is not a lot of fun.