ThailandInvestmentGuide

And I was subsequently advised:

"Thank you very much to you for your kind interest and patronage in our program. Unfortunately, our sales activities including new member recruitment are put on hold ... please kindly allow us to give you more clarification about your questions as below;

• Thailand Elite member can stay in Thailand for 5 years without leaving country. However, they have to extend their visa in every 90 days and pay 1,900 baht for visa extension fee at the Immigration Bureau.
  
• You don’t have to obtain re-entry permit. Therefore. If you have Thailand Elite Visa, you can stay in Thailand as long as you need and the re-entry permit is not necessary.
  
• There is no prohibition for Thailand Elite member. So, if you are Thailand Elite member, you can make a business and investment in Thailand.
  
• Thailand Elite member can apply for a work permit.
  

For our company’s situation, we are waiting for the final decision by Cabinet. Under the circumstance, we for the time being keep you on file. As soon as sale activities including member acquisition resume, we’ll be in touch with you subsequently. "

Ok, since my last post I have made contact with Thailand Elite. I asked them:

"On this page http://www.thailandelite.com/support.php you provide some information about the five year visa that is provided to cardholders. It also later mentions members receiving help to "enhancebusiness opportunity and investment privileges". I would like to get further more detailed information about both of these two matters if possible.

1. You mention the payment of 1,900 baht for the visa - I assume this is just once every five years (?)

2. Is it necessary to still obtain re-entry permits? what other rights or obligations to members with this visa have?

3. What activities are allowed or disallowed for people holder this visa? for example does it permit business or investment activities?

4. Can members apply for a work permit if they hold this visa?

Finally, there has been much in the newspapers about the possible termination of the card program OR or the future form it might take. Can you please advise me ofthe current most likely scenario - and in particular how this might affect the two issues I mentioned above (i.e. 5 year visa and help with investment/business)"

This might be of interest: http://www.samuiforsale.com/real-estate/land-upgrade-sor-kor.html

This company has done a number of moving and well-produced ads. One of the them featured the Doris Day song "when I was just a little girl ....." and features kids from a well-known Thai school for the disabled. Great ad and I wrote to them to congratulate them on it. They surprised me by writing back to me, thanking me and enclosing a VCD with the ad on it. Nice

_{This is according to the SCB web site - https://www.scbeasy....srv/srv_ftf.asp}

_{You can register and make international fund transfers via EASY NET for the following purposes;}

_{- Education (for Thai only)}

_{- Family Support (for Thai only)}

_{- Remittance of Savings (for foreigner only)}

_{- Remittance of fund belonging to Thai who is permanent resident aboard (for Thai only)}

_{Fund transfers will be allowed less than 20,000 US dollars / day only}

5,000 to change the name IS a rip-off, more so considering you got done for 10k the first time around. Send him a letter declining his offer and advising him that you have changed your copy to reflect your wife's new name, and providing him with a revised copy for his records. Also advise anyone else who has a copy of the original Will.

You can either insert the new name using black pen (and crossing out the old name) and have all parties initial and date the change OR simply re-type the entire document using the correct name and then sign and have witnessed. Make sure this revised version has a clause saying it supercedes any earlier version (a standard clause that may well already be in the document you have).

I think that anything you can do which reduces the scope for misunderstanding, conflict, and possible challenges to the Will by anyone anytime ... is a step worth taking. I think it's sensible to use a lawyer to do it first time around ... but in this case it's probably fairly safe to do it yourself.

Another point worth making is that the correct wording and format for Wills changes over time ... it is not a static set-and-forget document .. every Will needs to be reviewed every few years ... not just in terms of who gets what, but also to take account of changes in law and legal precedent.

Is it essential to do so? Maybe yes, maybe no. Can you see into the future? If not, my advice would be to play it safe and reduce the likelihood of messy problems for those left behind.

(PS: I am not a lawyer - this is a personal opinion only)

Quite some time ago I contacted the Elite card office and asked exactly what type of visa they offered, and whether it permitted business/investment activities, or simply tourist activities. The advice I received then was as follows:

With the special visa, the member has the right to stay in Thailand without the usual need to leave the country. The visa is multiple entries and valid for 5 years. After 5 years, the visa can be renewed upon request. But every 90 days, the member needs to extend the stay at immigration office (THB 1,900 charged by immigration). This type of visa does not support any type of business or investment activities. But it does not prohibit such activities.

Have any actual members been given a statement as to what their rights/obligations currently are under the special visa, and would they mind posting it online (or sending it to me via PM if they are shy). Thanks

The OP sounds like he's well on the way to choosing an e-reader.

For others who are reading this thread though ... who may not want to buy an e-reader just yet, or who are slowly deciding, but want to download and read a Kindle e-book sooner rather than later ... well, you can download a free Kindle e-book reader that will let you read kindle books on your desktop or laptop. You can probably find a download link just by googling "Kindle for PC", or I have a link near the bottom of this page: www.burning-bison.com/ebook.htm

Mike, do you mean valuers or more like engineers/architects/builders (ie. structural integrity)?

Are they listed on the Stock exchange of Thailand (SET)? you really should provide more info about the actual company you are looking for...

Good point. In that case you might try this web site: http://www.thailistedcompany.com/

Each time a poster receives a warning point he/she should be forced to procure the services of his/her choice of TV's reputable sponsors... if the mod who gave the warning point is found to have acted unfairly, he/she should be forced to procure the services of a TV sponsor (to be chosen by the victimised member)

Great concept Brit. I trust you'll remember me when the time comes

You have to give the original FETF to the Land Office as proof that the money came in from overseas in foreign currency. Make a copy of it to give to your bank when you want to transfer out again.

Correct but just to make it a bit clearer for the OP ... this has to be done at the time the condo title is tranferred to you. This is assuming that you are a foreigner and you want the title in your own name. Refer Section 19.3.5 of the Thailand Condominium Act

Thanks Bruce - I'll have a check in Central in the next day or two. I have never really got the hang of ebooks so will give the hard copy - if it is as useful as it sounds I can always get a new one when you update it!.

Cheers. Yes I think many of us, of a certain age at least, still prefer reading from dead tree rather than screen.

E-book format suits my book well though as it contains bucket-loads of hyperlinks to additional sources of info on specific topics ... reading it on a computer means you can jump backwards and forwards to tap into all that info. Reading hardcopy would mean you have to type each address into your computer, which would get tedious fast.

The other great thing about e-books from a writers perspective is that I can update a page tonight and then upload it to Amazon immediately ... it's then live online within a day. To produce a new hard-copy edition, however, you are talking many months.

Do you know if your book is available in Pattaya anywhere Bruce???

Hi Orac. Asia Books at Central Pattaya Festival. If they don't have a copy in stock then ask them to order one. Insist on the 2011 edition with "revised and updated" on the cover. If you have a problem then send me a pm.

You will find the hard-copy version helpful but, just to let you know, the e-edition is more up-to-date. You don't need a dedicated e-reader as you can download a free e-book reader to use on any computer here: www.burning-bison.com/ebook.htm

Unless the term debt is defined, this report means nothing.

A mortgage is debt.

A credit card purchase is a debt.

A vehicle lease is a debt.

However, if one is current on the mortgage and lease payments, and pays off the credit cad bill every month, is this person to be scolded for carrying debt?

In today's world, most people cannot afford a home unless they take on debt, i.e. a mortgage.

Correct. Read this article (and an earlier one in the same blog) for a different take on this issue:

http://asiancorrespondent.com/81931/household-debt-in-thailand-is-it-unsustainable-part-2/

The book "How to Establish a Succesful Business in Thailand" provide you all the information you need.

The author of that book is Philip Wylie by the way. I think he has written an update called something like "How to make money in Paradise". Just google on his name and you'll probably find it.

In relation to your two suggestions:

"1) Change the 51% Thai ownership from my property company to a lawyer of my choosing. I've heard this is the most common option, and if you find a lawyer you trust then they will take this on. So if anyone can suggest a lawyer that does this for a large number of falangs, then that may be the safest option."

An anonymous person in an online forum suggests "Khun Joe is great, totally honest" - are you going to try to get the current lawyer (who may be straight for all we know) to sign over to Joe, who could be as bent as a dogs hind leg? Do you know any Thais personally who could be trusted for this role?

"2) Registering an Usufruct or or Right of Superficies at the Land Department. But as I understand this would give the Thai majority shareholder ownership, and only myself that right to use for life."

I can imagine the conversation between you and the company's lawyer, "please khun somchai, would you mind signing this application for a usufruct?". "But Khun Bodhibum this is quite unnecessary, why do you need it?". "Well Khun Somchai, it's to stop you ripping me off". <buzzer sounds>

The granting of the usufruct would not affect ownership but yes it would give you the right to use the property for the term specified in the usufruct

Before you take even one more step you need to bring your general knowledge of property matters up to speed a bit ... otherwise you may find yourself jumping from the frying pan into the fire. There are plenty of relevant threads here, there is good information available in some of the better lawyers' web sites, there are books. Then you need to sit down with a lawyer who is well-recommended by someone you know and trust .. just to discuss your situation and your options. The suggestion to the speak to the condos Juristic Officer might also be sound ... not to complain about the situation but just to discuss possible options.

Foggy, hi, I have quite a good chapter on real estate in my book "Your Investment Guide to Thailand" (details at www.burning-bison.com/sales.htm)

Were there particular topics (within the broad area of Thai real estate) that you were interested in?

1. Some Thais throw/roll some Napthalene balls (moth balls) into the ceiling on the basis that the rats are meant to be repelled by the smell - not sure about the effectiveness of that approach though ... nor how long it lasts

2. Would caution on the idea of using more than one approach at the same time. I had some of those sticky traps hidden in corners. Later decided to bring our cat back to live with us to help with the rats (was at yai's house) and forgot about one of the sticky traps. The cat got caught in it and was very upset.

Hint: Peanut oil rubbed into the affected fur and then washed out with soapy water did the trick, but puss was ticked off for a day or two

Howdy

I thought I was mighty lucky when (last week) I booked the last slot for an appointment on Monday 7th, ten appointments having already been made for that day.

This morning we realised that Monday was a public holiday so we rang Immigration to check, and yes they will be closed. They claimed that a sign should have flashed on the screen - or similar device - to say that the office would be closed that day. There wasn't anything like that, so presumably there are ten foreigners out there who are due to get a surprise when they front up to Immigration on Monday.

PS: When I created this thread's title I inserted a second line mentioning the date. Don't the second line in thread titles work anymore? I seem to reacll this happening to me with another thread I created a few days ago.

For a sponsor? I guess a signature might be too much. But avatar would be ok. It wouldn't be a direct link, but could clearly display some sort of logo.

Or ask people to google "thailand investment guide" or whatever phrase that your site ranks #1 or #2 in. Obviously your url should reflect your main product or branding

Thanks for the suggestion Maat

I think we just about have it nailed. There's a link to my web site at post #5, a link in my member profile, the banner ad is linked ... or as you suggest, people can google on the book title or key words like Thailand+investment+book, etc. The URL is a bit of a red herring, oh well.

Yes, I believe so, but you need to organise a lawyer quickly.

See http://www.thaivisa....13#entry5229413 and send a pm to member 'surin' who had some positive experience in this regard

_{I see that the REBA web site has a "real estate training course" advertised on the home page. I suspect though that the lectures/course material will only be available in Thai. Send them an email to check this and also call in and see some foreigner agents and have a chat re: both courses and traineeships or similar.}

_{Meanwhile you always could do some self-study on related legal issues, etc ... I came across a good book about that stuff ... now what was it called?}

Hi Red

Yes according to the law you can put it into your son's name. There are a number of issues associated with this approach and it might be worth doing a thaivisa forum search to find some of the many earlier threads on this topic and then do some background reading.

As someone has already noted you (your child) can't readily sell the property or lease it or mortgage it or enter into a usufruct, etc.

Some Land Dept staff also apply their own rules about minimum age to hold land.

Yet another issue is what happens to the property if your child dies before he/she is old enough to make a valid Will?

What happens if you subsequently have more children and then potentially your family's major asset is in the hands of one sibling?

One related but alternative approach that I have heard some people use is to put it in their wife's name but with a formal signed agreement between them that, in the event of divorce, then the property is to be immediately transferred into the child's name.