Noreya

Sounds like you don't actually plan on working. If not, then why get a work visa?? Why not a retirement visa?

I agree if you did not plan to work. -retirement visa- is good for you.

If you apply to get a WP you have to pay tax return base on your annual income and you have to pay Lawyer to do your Annual Report to Labor Ministry to renew your WP every year. But for retirement visa it more easy to get one year extension if you are qualify.

I agree with Langsuan Man. The system currently in place will continue, IMHO since it benefits the elite, who own everything in this country.

We try to make more source of INCOME for our country regarding property tax and peace of land plot that did not develop. But nothing pass from the lawmaker yet. Since they are the elite.

Just transfer the shares to the new owner. Most of Thai when they buy property they put under individual asset - mean you can only sell a company to farang only.

as one said

just transfer the shares to the new owner

i personally think that Thailand under ASEAN will open up a bit more and allow foreigners to own land and properties - after all let the foreigners build it as they cant take it with them when they go.

It happened on the Gold Coast in Australia - the Japanese poured into golf courses, hotels, condo's and everything - then the northern parts opened up with better tourist sites and the Gold Coast died. But the golf courses et al are still all there.

Sorry I can't agree with you. I think that absolutely nothing will change when ASEAN is fully implemented here in regards to property ownership. Property taxes here in Thailand are ridiculously low, so low that in most places they don't even bother to send out tax bills, so there is no reason for those in charge to change the law. In fact one of the reasons property is so expensive here in Thailand is because there is no pressure to sell, since it cost's you nothing to keep it, might as well let it accrue in value over time

The current system's "loophole" via the company route raises millions of Baht to the lawyers, accountants, and tax authorities, the people that really run this country. They are not about to change the system that guarantees them at a minimum of 15 to 20 K Baht each and every year for each piece of property that is owned by a company

NAFTA did absolutely nothing to change the property ownership laws for foreigners in Mexico, which also relies on "company structure" to own property there

So unless the Thais are serious about changing their own property tax structure (and they are not). The system currently in place will continue, IMHO since it benefits the elite, who own everything in this country

If you are a ferang and you buy the condo what is the capital gains and other cost when you sell ? i believe you must hold it for ???? Years so you capital gain is not as much ! SO if i dont have a business , i think from my info so far is that its likely more profitable to buy it in personal name ..... Is this correct and accounting less too ! ?? So what are the costs to purchase and to sell if you buy in legal personal way please?

Yes, its likely more profitable to buy it in personal name.

the capital gains - The capital gains is after for 7 years you may can sell it at break even point as same price that you paid. Its likely do not make muck profit. The profit is you did not have to pay your rents for 7 years if you keep it for 7 years at lease.

and other cost when you sell ?

- A house - ownership pay for common area service very cheap but - A condo common area is expensive 60% more. When sell it pay same transfer fee at Land office as same as Thai sell a house. And do not have to pay tax to IRS only Transfer fee at Land office (must have a farang name state as ownership in Tabeanbaan. (same as a House Registered Blue Book )

Also save money from pay to accounting company to prepare Company Balance Sheet to keep a company in active at Ministry of Commerce.

I think that the problems may come later, if they do come.

I agree with him.

Now I am trying to sell a Townhouse in Soi Ladprao 80 for 5 million - A townhouse ownership is under Thai company name (a purpose of buying property only). Buying price in 2004 was 4 million. Company must file "Annual Company Balance Sheet" and A townhouse is specific as an asset own by a company. Asset Depreciation is 10% per year. My accounting company told me one factor that I did not know it before. After 10 years this company asset will be 0 value in Company Balance Sheet. When we sell it at price 5 million. This is mean company make income from this asset. Company must pay cooperate income tax to IRS and also must be Tax at Land office in full rate at 7%. (if under Thai people - we do not have to pay tax at Land office when we sell a house that we live in for 3 years we pay only transfer fee for 2%) In my case problems come after 9 years. Due to company asset value reduce in company balance sheet and make big profit from a sell price.

I bought my Condo about 3 years ago, with a ''Thai Company Ownership'' had no problems, nothing whatsoever.

I think that the problems may come later, if they do come.

The whole point about the farang quota/company name question is that buying in farang name is totally and completely legal; the structure was created in law with the specific intention of allowing farangs to buy condos. Buying in company name is semi-legal trickery at best or outright illegality at worst and at some point it may come back to bite you on the backside, perhaps in the form of extra taxes or even in the form of confiscation and criminal proceedings. Stranger things have happened.

Given the huge (over-)availability of condos of all types everywhere in Thailand (or at least everywhere I've ever looked), I really don't see the point of bothering with company name purchases.

I agree with Cheapcharly -But now fuel is expensive.... USA really suck.!

The amount of debt is quickly approaching the federal debt ceiling, a legal limit to borrowing that currently stands at $16.4 trillion. About 45 percent is held by public entities, including parts of the government (e.g. Social Security Fund). Foreign countries listed include both private and public investors, according to monthly U.S. Treasury data.

I think the OP better live in Thailand. If you are in Thailand now.

Try to set a tent In one of the tent cities across America.

Where all these huge rv went?

Best way is to buy a small rv and live inside.

But now fuel is expensive.... USA really suck.!

Pros and Cons: Farang and buy a house and Thai company

About a house" I post it on this topic for a purpose to tell a farang do not buy a house buy a condo under farang own name is my advice. (I have my own story to share about buy a house in Thailand)

Chinese wife she is 63 now. And in 2003 his son was in university in US. They did not want to be a caretaker for him in Thailand then. So this family get solution by asking me to be his Thai wife by accidental and still keep marry paper for his Chinese wife for legal matter. Due to she was in US. since she was 27 and never work in US at all. She will not entitle to any US SS benefit, this is only one reason a deal is not divorce Chinese wife for her benefit in US when an old husband pass on. And for myself and my path is help him develop agent business in Thailand with American buyers to come to Thai manufactures. All income for almost 10 years that support his Chinese wife in US and paid for his son a good living and got a car to ride to UCSD. All source of income both Thai and US family come from a company that I run a business.

After he went under 5 of L-spine surgery he completely cannot walk but pain get very good result of healing.

After surgery he lives his life on a wheelchair and have to wear adult diaper. I feed him and wash him caring him and in the mean time - do business correspondents by email to customers in US and he called by phone only. In 2004 customers did not know me but from a year customers visit manufactures in Thailand and get to know me was doing business in a company for him. Also-in a company (not homeowner) only me to run a business because we do not need staff for Agent business is on sell and bring buyer to factory and they do trading between buyer and manufacturer we got 4% from FOB price. He gave her 10,000 USD per month plus his SS check start when he was 65. He used to travel to Taiwan from time to time. He came to Thailand in 1996 because Taiwan stops to be industry/low labor cost country.

In 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for purpose of buying a house for 100,000USD. or 4 million THB then. My status had transferred form Thai wife to be a business partner. Because of my experience job from trading company, I run a business for almost 10 years and I send money to US from 2004 to Chinese wife and son until he graduate in 2008. Unfortunately it was not good time to get job it was sub-prime and CDO crisis then. In 2009 after Lehman Brother collapsed 90% of our customers filed Chapter 11. Thai manufactures that sent shipments to various US customers lost millions of dollars. We got hit too. We lost all our money we and must be part of our buyer to pay debts to factories because most of factories run business by bank loan when business good they honestly pay us our commission. So we cannot just turn our back on them. Factories close down and have to provide some money to workers. In Jan 2010 we have nothing left. Only a house to live in but big issue is his hospital and med bills that about 1,000 dollars per month at Bangkok hospital. A sickly old man is the one who suffer from his son order do not let me come to visit him at nursing home in Bangkok. I do not care to sell a house and give money to his son. But in return I need LEGAL paper between me and the old man. I am working now I make my own income as a working in import company.

It seem yours and my situation are not balance world.

Hope this is useful data for any expat in Thailand

ISSUE; BUY HOUSE IN THAILAND

Posted 2013-10-04 11:24:37

I have my own story to share about buy a house in Thailand. Now I am Thai 47 years. In 2003 when I was unemployed from Trading company because of the company need to get out from Thailand and do relocate in China after China in WTO in 2000. My friend who is a nurse in Bangkok hospital ask me to work as a Caretaker for 71 years American (he went under L-spine surgery for 5 of them need one year continue rehab and caring) he did trading business in Thailand and living apart from his Chinese American wife in Cal. But a year later in 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for suppose of buying a house for 100,000USD. or 4 million THB then. We were together until April 2013. He got very sick and his Chinese/American son came to Thailand and put him in Nursing Care in Bangkok locate nearby our house and his son cut me out from him also his son apply to be SS Rep Payee to get his benefit from US SS office and transfer payment to Nursing Care direct from Cal. His son wants to get 50% of shareholder for house ownership. Under Thai law to set up a company you must have at least 3 shareholders and 51% must be Thai so I am that 51% and he is 49% lawyer 1%. I am entailed to a company asset and a son entailed to nothing as long as his father life. When father pass away 48% shareholder must be transfer to his son but practical is not an issue because everything must have my signature since I am only authorizes Managing Director in a company. I am a Managing Director of a company.

Posted 2013-10-04 11:37:48

His son cannot do anything without my signature. I offer to his son I want to sell a house and 50% to him and to me. But I need to get a legal paper between his father and me in Thailand. I want to come to visit his father as long as he is living in nursing care in Bangkok (he cannot walk and lost memory from Alzheimer disease he is 81) his son instructed a nursing home do not let me come to see him. So I want his son to let me replace him and be a SS Rep Payee for him. Because I am not married him and he did not divorce. But his son gets me out from his father and I get his asset in Thailand. His son is very angry to me but he cannot do anything unless he let me see his farther as a Rep Payee. Then I will sign a paper for selling a house for him. Hope this is useful data for any expat here in Thailand.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

Wow. Thats quite a story.

So, were you lovers? In a committed relationship? or was it a business arrangement, pure and simple. You weren't married to him. The son has a mother who was married to him.

If you were cheating with him while he was married, which it sounds like, maybe you should understand the son's point of view and sell the assets and give him the majority, since it was his fathers money, not yours.

I agree with Mighty Mouse. As I am a Thai woman at 47 "That 's life". It is kinds of trade off get something and have to give something.

Mighty Mouse,

<deleted>?? A female who has a Thai b/f BEFORE, or AFTER setting up house with you is NOT a scam.

A female with a Thai husband at the TIME of "shacking up with you" is a scam.

Where did you read this rule book?? Again, I say, <deleted>???

Yep, I stick with my opinion regarding Pattaya's working girls.

They arrive in Pattaya by the bus load, not to look for long lasting romance, but to look for money, easy money.

They only have to be on the job for a couple of months and they have more male admirers than they could ever imagine having back in the village.

Paying customers should know that they are not her first and that they will not be her last. ....at least until she reaches her use-by-date....then she might look for a permanent partner, preferably one who has enough money to keep her happy or who will take good care of her.

You come along during her working life, fall for her good looks and charm, invite her to shack up with you and tell her that you will take care of all her expenses. She agrees and moves in with you.

Why wouldn't she???

In her real world, men do want men do. That is, they butterfly. Too much temptation in Pattaya for 99% of men to resist.

What's good for the goose, is good for the gander. She sees nothing wrong with getting a bit on the side either. Farang men or Thai men.

Whether or not she accepts money for these services is up to her.

There is no scam in this scenario. Cheating...yes, but no scam towards her live-in lover.

(You could argue whether in her Thai mind she is actually cheating. For her, giving her body to others on a temporary bases, is like kissing somebody on the cheek for us.)

Where it becomes a scam is where she sets out to entice her live-in lover to buy a house and put it all in her name, with the intention of dumping him and keeping the house for herself.

If she had, or now has a Thai boyfriend, and they both connive to cheat her farang live-in lover out of all his money, that is a scam.

If she was already married at the time of the farnang inviting her into his house, and she and her Thai husband benefit financially from the live-in arrangement, that is a scam.

I don't wish to break forum rules by turning this thread into a discussion about working girls, but it was necessary to write what I have in order to make my point.

bendovid

Thai Social Security - Old Age Pension Benefit: (60 years)

Anyone work in Thailand - Having made contributions for not less than 180 months and is entitled to old age pension benefit on monthly basis at the rate of 20 percent of last 60 months of average wage which is used as a basis for calculation of the contribution before the status of being the insured terminates.

20 percent of last 60 months of average wage (used as basis for calculation of contribution)

Example 50,000 x 60 months Result is 50,000 used as basis for calculation

60 months

Remark: Most of Thai their 60 months of average wage not more than 30,000 B.

Chinese wife she is 63 now. And in 2003 his son was in university in US. They did not want to be a caretaker for him in Thailand then. So this family get solution by asking me to be his Thai wife by accidental and still keep marry paper for his Chinese wife for legal matter. Due to she was in US. since she was 27 and never work in US at all. She will not entitle to any US SS benefit, this is only one reason a deal is not divorce Chinese wife for her benefit in US when an old husband pass on. And for myself and my path is help him develop agent business in Thailand with American buyers to come to Thai manufactures. All income for almost 10 years that support his Chinese wife in US and paid for his son a good living and got a car to ride to UCSD. All source of income both Thai and US family come from a company that I run a business.

After he went under 5 of L-spine surgery he completely cannot walk but pain get very good result of healing.

After surgery he lives his life on a wheelchair and have to wear adult diaper. I feed him and wash him caring him and do business correspondents by email to customers in US and he called by phone only. In 2004 customers did not know me but from a years customers visit manufactures in Thailand and get to know me was doing business in a company for him In a company (not homeowner) only me to run a business because we do not need staff for Agent business is on sell and bring buyer to factory and they do trading between buyer and manufacturer we got 4% from FOB price. He gave her 10,000 USD per month plus his SS check start when he was 65. He used to travel to Taiwan from time to time. He came to Thailand in 1996 because Taiwan stops to be industry/low labor cost country.

In 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for purpose of buying a house for 100,000USD. or 4 million THB then. My status transfer form Thai wife to be a business partner. Because of my experience job from trading company, I run a business for almost 10 years and I send money to US from 2004 to Chinese wife and son until he graduate in 2008. Unfortunately it was not good time to get job it was sub-prime and CDO crisis then. In 2009 after Lehman Brother collapsed 90% of our customers filed Chapter 11. Thai manufactures that sent shipments to various US customers lost millions of dollars. We got hit too. We lost all our money we and must be part of our buyer to pay debts to factories because most of factories run business by bank loan when business good they honestly pay us our commission. So we cannot just turn our back on them. Factories close down and have to provide some money to workers. In Jan 2010 we have nothing left. Only a house to live in but big issue is his hospital and med bills that about 1,000 dollars per month at Bangkok hospital.

Because his Chinese wife she is 63 now. His son was in university in US. They did not want to be a caretaker for him in Thailand. So this family get solution by asking me to be his Thai wife and still keep marry paper for his Chinese wife for legal matter. Due to she was in US. since she was 27 and never work in US at all. She will not entitled to any US SS benefit, this is only one reason a deal is not divorce Chinese wife for her benefit in US when an old husband pass on. And for myself and my path is help him develop agent business in Thailand with American buyers to come to Thai manufactures. All income for 10 years that support his Chinese wife in US and paid for his son a good living and got a car to ride to UCSD. All source of income both Thai and US family come from a company that I run a business. After he went under 5 of L-spine surgery he completely cannot walk and live his life on a wheelchair an have to ware adult diaper. In a company only me to run a business because we do not need staff-agent business is on sell and bring buyer to factory and they do trading between buyer and manufacturer we go 4% from FOB price. He gave her 10,000 USD per month plus his SS check start when he was 65. And travel to Taiwan from time to time. He came to Thailand because Taiwan stop to be industry country. After one year I transfer form Thai wife to be a business partner. Because of me run a business for 10 years and I send money to US from 2004 to Chinese wife and son until he graduate in 2008. Unfortunately it was not good time to get job it was sub-prime and CDO crisis then. In 2009 when Lheyman Brother collapsed 90% of our customers filed Chapter 11. Thai manufactures that sent shipments to various US to our customers lost million of dollars. We got hit too. We lost all our money we must be part of our buyer to pay debts to factories because most of factories run business by bank loan. In Jan 2010 we have nothing left. Only a house to live in but big issue is his hospital and med bills that about 1,000 dollars per month to Bangkok hospital.

More information when it was a few months while I was his caretaker I was looking for job to go back to work in trading companies in Thailand. And I got it a few months later. I was prepared to leave them I even discuss with his wife and his son. An old man said he is better live in Thailand because it will be too expensive to live in U.S. and he need me not his wife to live with him in Thailand. Wife accepted as long as he make commission from his Agent to Thai manufactures and earn enough income to give his wife 10,000USD per month. Anyways, his Chinese/American son even said to me his father needs me not his Mom to be in Thailand. The bottom line is " see a son email. About a house" I post it on this topic for a purpose to tell a farang do not buy a house buy a condo under farang own name is my advice.

Date: Fri, 9 Nov 2012 12:39:49 -0800

Subject: Re: California is a no fault divorce state - default judgment
Ya,

If my mom divorces my dad, then she loses all social security benefits that she is entitled to. We already had this discussion that after my father passes on, you will get the house and we will not interfere.

For you to ask my mom to divorce my dad is selfish and unfair. Both you and my father made the choice together to live the life that you guys are living. Don't bring my mom into this. I hope you understand this.

Shane

Noreya,

I think you need a new page to post this and let people talk to you! I see what you say about not trust thai lady to buy house there..I thought you were a nice lady before but this is just horrible. Why are you major shareholder of his house? You be with him for 10 years and take care him also but that does not make you right to take from his son, he is his blood and if you be good woman you give everything back to him. Very worrying...

Here I put all post in one topic.

ISSUE; BUY HOUSE IN THAILAND - Posted 2013-10-04 11:24:37

I have my own story to share about buy a house in Thailand. Now I am 47 years Thai. In 2003 when I was unemployed from Trading company because of the company need to get out from Thailand and do relocate in China after China in WTO in 2000. My friend who is a nurse in Bangkok hospital ask me to work as a Caretaker for 71 years American (he went under L-spine surgery for 5 of them need one year continue rehab and caring) he did trading business in Thailand and living apart from his Chinese American wife in Cal. Because his Chinese wife she is 63 now. And his son was in university in US. They did not want to be a caretaker for him in Thailand then. So this family get solution by asking me to be his Thai wife by accidental and still keep marry paper for his Chinese wife for legal matter. Due to she was in US. since she was 27 and never work in US at all. She will not entitle to any US SS benefit, this is only one reason a deal is not divorce Chinese wife for her benefit in US when an old husband pass on. And for myself and my path is help him develop agent business in Thailand with American buyers to come to Thai manufactures. All income for almost 10 years that support his Chinese wife in US and paid for his son a good living and got a car to ride to UCSD. All source of income both Thai and US family come from a company that I run a business.

After he went under 5 of L-spine surgery he completely cannot walk but no pain after surgery and live his life on a wheelchair and have to wear adult diaper. In a company (not homeowner) only me to run a business because we do not need staff for Agent business is on sell and bring buyer to factory and they do trading between buyer and manufacturer we go 4% from FOB price. He gave her 10,000 USD per month plus his SS check start when he was 65. He used to travel to Taiwan from time to time. He came to Thailand in 1996 because Taiwan stops to be industry/low labor cost country.

Because his Chinese wife she is 63 now. His son was in university in US. They did not want to be a caretaker for him in Thailand. So this family get solution by asking me to be his Thai wife and still keep marry paper for his Chinese wife for legal matter. Due to she was in US. since she was 27 and never work in US at all. She will not entitled to any US SS benefit, this is only one reason a deal is not divorce Chinese wife for her benefit in US when an old husband pass on. And for myself and my path is help him develop agent business in Thailand with American buyers to come to Thai manufactures. All income for 10 years that support his Chinese wife in US and paid for his son a good living and got a car to ride to UCSD. All source of income both Thai and US family come from a company that I run a business. After he went under 5 of L-spine surgery he completely cannot walk and live his life on a wheelchair an have to ware adult diaper. In a company only me to run a business because we do not need staff-agent business is on sell and bring buyer to factory and they do trading between buyer and manufacturer we go 4% from FOB price. He gave her 10,000 USD per month plus his SS check start when he was 65. And travel to Taiwan from time to time. He came to Thailand because Taiwan stop to be industry country. After one year I transfer form Thai wife to be a business partner. Because of me run a business for 10 years and I send money to US from 2004 to Chinese wife and son until he graduate in 2008. Unfortunately it was not good time to get job it was sub-prime and CDO crisis then. In 2009 when Lheyman Brother collapsed 90% of our customers filed Chapter 11. Thai manufactures that sent shipments to various US to our customers lost million of dollars. We got hit too. We lost all our money we must be part of our buyer to pay debts to factories because most of factories run business by bank loan. In Jan 2010 we have nothing left. Only a house to live in but big issue is his hospital and med bills that about 1,000 dollars per month to Bangkok hospital.

More information when it was a few months while I was his caretaker I was looking for job to go back to work in trading companies in Thailand. And I got it a few months later. I was prepared to leave them I even discuss with his wife and his son. An old man said he is better live in Thailand because it will be too expensive to live in U.S. and he need me not his wife to live with him in Thailand. Wife accepted as long as he make commission from his Agent to Thai manufactures and earn enough income to give his wife 10,000USD per month. Anyways, his Chinese/American son even said to me his father needs me not his Mom to be in Thailand. The bottom line is " see a son email. About a house" I post it on this topic for a purpose to tell a farang do not buy a house buy a condo under farang own name is my advice.

Date: Fri, 9 Nov 2012 12:39:49 -0800

Subject: Re: California is a no fault divorce state - default judgment
Ya,

If my mom divorces my dad, then she loses all social security benefits that she is entitled to. We already had this discussion that after my father passes on, you will get the house and we will not interfere.

For you to ask my mom to divorce my dad is selfish and unfair. Both you and my father made the choice together to live the life that you guys are living. Don't bring my mom into this. I hope you understand this.

Shane

Noreya,

I think you need a new page to post this and let people talk to you! I see what you say about not trust thai lady to buy house there..I thought you were a nice lady before but this is just horrible. Why are you major shareholder of his house? You be with him for 10 years and take care him also but that does not make you right to take from his son, he is his blood and if you be good woman you give everything back to him. Very worrying...

More information when it was a few months while I was his caretaker I was looking for job to go back to work in trading companies in Thailand. And I got it a few months later. I was prepared to leave them I even discuss with his wife and his son. An old man said he is better live in Thailand because it will be too expensive to live in U.S. and he need me not his wife to live with him in Thailand. Wife accepted as long as he make commission from his Agent to Thai manufactures and earn enough income to give his wife 10,000USD per month. Anyways, his Chinese/American son even said to me his father needs me not his Mom to be in Thailand. The bottom line is " see a son email. About a house" I post it on this topic for a purpose to tell a farang do not buy a house buy a condo under farang own name is my advice.

Date: Fri, 9 Nov 2012 12:39:49 -0800

Subject: Re: California is a no fault divorce state - default judgment
Ya,

If my mom divorces my dad, then she loses all social security benefits that she is entitled to. We already had this discussion that after my father passes on, you will get the house and we will not interfere.

For you to ask my mom to divorce my dad is selfish and unfair. Both you and my father made the choice together to live the life that you guys are living. Don't bring my mom into this. I hope you understand this.

Shane

More info. When it was a few months while I was his caretaker I was looking for job to go back to work in trading companies in Thailand. And I got it a few months later. I was prepare to leave them I even discuss with his wife and his son. An old man said he is better live in Thailand because it will be too expensive to live in U.S. and he need me not his wife to live with him in Thailand. Wife accepted as long as he make commission from his Agent to Thai manufactures and earn enough income to give his wife 10,000USD per month. Anyways, his Chinese/American son even said to me his father need me not his Mom to be in Thailand. The bottom line is " see a son email. about a house" I post it on this topic for a purpose to tell a farang do not buy a house buy a condo under farang own name is my advise.

Date: Fri, 9 Nov 2012 12:39:49 -0800

Subject: Re: California is a no fault divorce state - default judgment

Ya,

If my mom divorces my dad, then she loses all social security benefits that she is entitled to. We already had this discussion that after my father passes on, you will get the house and we will not interfere.

For you to ask my mom to divorce my dad is selfish and unfair. Both you and my father made the choice together to live the life that you guys are living. Don't bring my mom into this. I hope you understand this.

Shane

It seem yours and my situation are not balance world.

Hope this is useful data for any expat in Thailand

ISSUE; BUY HOUSE IN THAILAND

Posted 2013-10-04 11:24:37

I have my own story to share about buy a house in Thailand. Now I am Thai 47 years. In 2003 when I was unemployed from Trading company because of the company need to get out from Thailand and do relocate in China after China in WTO in 2000. My friend who is a nurse in Bangkok hospital ask me to work as a Caretaker for 71 years American (he went under L-spine surgery for 5 of them need one year continue rehab and caring) he did trading business in Thailand and living apart from his Chinese American wife in Cal. But a year later in 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for suppose of buying a house for 100,000USD. or 4 million THB then. We were together until April 2013. He got very sick and his Chinese/American son came to Thailand and put him in Nursing Care in Bangkok locate nearby our house and his son cut me out from him also his son apply to be SS Rep Payee to get his benefit from US SS office and transfer payment to Nursing Care direct from Cal. His son wants to get 50% of shareholder for house ownership. Under Thai law to set up a company you must have at least 3 shareholders and 51% must be Thai so I am that 51% and he is 49% lawyer 1%. I am entailed to a company asset and a son entailed to nothing as long as his father life. When father pass away 48% shareholder must be transfer to his son but practical is not an issue because everything must have my signature since I am only authorizes Managing Director in a company. I am a Managing Director of a company.

Posted 2013-10-04 11:37:48

His son cannot do anything without my signature. I offer to his son I want to sell a house and 50% to him and to me. But I need to get a legal paper between his father and me in Thailand. I want to come to visit his father as long as he is living in nursing care in Bangkok (he cannot walk and lost memory from Alzheimer disease he is 81) his son instructed a nursing home do not let me come to see him. So I want his son to let me replace him and be a SS Rep Payee for him. Because I am not married him and he did not divorce. But his son gets me out from his father and I get his asset in Thailand. His son is very angry to me but he cannot do anything unless he let me see his farther as a Rep Payee. Then I will sign a paper for selling a house for him. Hope this is useful data for any expat here in Thailand.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

Wow. Thats quite a story.

So, were you lovers? In a committed relationship? or was it a business arrangement, pure and simple. You weren't married to him. The son has a mother who was married to him.

If you were cheating with him while he was married, which it sounds like, maybe you should understand the son's point of view and sell the assets and give him the majority, since it was his fathers money, not yours.

Is that some sort of a wind up Noreya, or are you actually posting here to tell us that you ripped of a sickly old man and his family?

What do you mean "wind up" I do not understand this expression ?

Noreya Eska-CV- Objective: Secretary or Personal Assistance Position

E-mail: [email protected]

Experience: Secretary to Design Director

Feb 1991 – Nov 1997 Design Phase Company Ltd., Bangkok, Thailand

(Interior design and consultant company)

Maintain Admin and Projects Filing System.

Handle admin and customers correspondence.

To act as an interpreter for American boss and Thai local staff.

Assistance to Merchandiser

Dec 1997 – Mar 2003. Akko Group International Company Bangkok, Thailand

To help a merchandiser on sending Sale Samples or Shipment Samples to over sea buyer by couriers or freight forwarders.

To help a merchandiser on chasing of New Products Development from Factory and work co-operate with Products Development / Sample Dept.

To help a merchandiser.

Chasing Shipments Status from Factory by keeping an update weekly Priority Shipments List.

To work co-operate with couriers and freight forwarders for customs/duty documents requires.

International Hotel and Tourism Industry Management School. Ramkhamhaeng road, Bangkok, Thailand.

1988 - 1990

Diploma in Hotel and Tourism Management.

Chaopraya Witthaya Khom School. Rama 3 road, Bangkok, Thailand

High School Certificate, Major English.

Personal Data: Date of birth : 12 Feb 1967

Hope this is useful data for any expat in Thailand

ISSUE; BUY HOUSE IN THAILAND - Posted 2013-10-04 11:24:37

I have my own story to share about buy a house in Thailand. Now I am 47 years Thai. In 2003 when I was unemployed from Trading company because of the company need to get out from Thailand and do relocate in China after China in WTO in 2000. My friend who is a nurse in Bangkok hospital ask me to work as a Caretaker for 71 years American (he went under L-spine surgery for 5 of them need one year continue rehab and caring) he did trading business in Thailand and living apart from his Chinese American wife in Cal.

But a year later in 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for purpose of buying a house for 100,000USD. or 4 million THB then to April 2013.

We were together until April 2013. He got very sick and his Chinese-Amrerican son came to Thailand and put him in Nursing Care in Bangkok locate nearby our house and his son cut me out from him also his son apply to be SS Rep Payee to get his benefit from US SS office and transfer payment to Nursing Care direct from Cal. His son wants to get 50% of shareholder for house ownership. Under Thai law to set up a company you must have at least 3 shareholders and 51% must be Thai so I am that 51% and he is 49% lawyer 1%. I am entitled to a company asset and a son entitled to nothing as long as his father life. When father pass away 48% shareholder must be transfer to his son but practical is not an issue because everything must have my signature since I am only authorizes Managing Director in a company.

Posted 2013-10-04 11:37:48

His son cannot do anything without my signature. I offer to his son I want to sell a house and 50% to him and to me. But I need to get a legal paper between his father and me in Thailand. I want to come to visit his father as long as he is living in nursing care in Bangkok (he cannot walk and lost memory from Alzheimer disease he is 81) his son instructed a nursing home do not let me come to see him. So I want his son to let me replace him and be a SS Rep Payee for him. We are not married. And he did not divorce. But his son gets me out from his father and I get his asset in Thailand. His son is very angry to me but he cannot do anything unless he let me see his farther as a Rep Payee. Then I will sign a paper for selling a house for him. Hope this is useful data for any expat here in Thailand.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

It seem yours and my situation are not balance world.

Hope this is useful data for any expat in Thailand

ISSUE; BUY HOUSE IN THAILAND

Posted 2013-10-04 11:24:37

I have my own story to share about buy a house in Thailand. Now I am Thai 47 years. In 2003 when I was unemployed from Trading company because of the company need to get out from Thailand and do relocate in China after China in WTO in 2000. My friend who is a nurse in Bangkok hospital ask me to work as a Caretaker for 71 years American (he went under L-spine surgery for 5 of them need one year continue rehab and caring) he did trading business in Thailand and living apart from his Chinese American wife in Cal. But a year later in 2004 we became a couple and his Chinese wife in Cal know it but she is ok because she said he need a caretaker. In 2004 he set up a company just for suppose of buying a house for 100,000USD. or 4 million THB then. We were together until April 2013. He got very sick and his Chinese/American son came to Thailand and put him in Nursing Care in Bangkok locate nearby our house and his son cut me out from him also his son apply to be SS Rep Payee to get his benefit from US SS office and transfer payment to Nursing Care direct from Cal. His son wants to get 50% of shareholder for house ownership. Under Thai law to set up a company you must have at least 3 shareholders and 51% must be Thai so I am that 51% and he is 49% lawyer 1%. I am entailed to a company asset and a son entailed to nothing as long as his father life. When father pass away 48% shareholder must be transfer to his son but practical is not an issue because everything must have my signature since I am only authorizes Managing Director in a company. I am a Managing Director of a company.

Posted 2013-10-04 11:37:48

His son cannot do anything without my signature. I offer to his son I want to sell a house and 50% to him and to me. But I need to get a legal paper between his father and me in Thailand. I want to come to visit his father as long as he is living in nursing care in Bangkok (he cannot walk and lost memory from Alzheimer disease he is 81) his son instructed a nursing home do not let me come to see him. So I want his son to let me replace him and be a SS Rep Payee for him. Because I am not married him and he did not divorce. But his son gets me out from his father and I get his asset in Thailand. His son is very angry to me but he cannot do anything unless he let me see his farther as a Rep Payee. Then I will sign a paper for selling a house for him. Hope this is useful data for any expat here in Thailand.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

why do back breaking long hours for 2-300 baht a day?

Is that mean you send money to her in Thailand for "wife support" at the moment.

You are 40 something and I am 47 I say to you as my younger bother 100,000 B. is enough if you live like Thai middle class.

The ISSUE is _ Is this job in long term contract or just shot term. You are lucky that you got that much.

If it is not long term you may see both of your future in deep shit in Thailand.

Average cost of living as a good middle class in Bangkok is 100,000 B per month. But they got their asset by home mortgage we normally mortgage 25-30 years - interest is MLR (mortgage loan rate 7%) at this moment.

After 25 years. Thai family have no saving at all. They only have asset for family to live together. Then kids grow up to work and make income for caring their parent but do not have to pay for home mortgage. This is how Thai senior survive with out SS or pension. When we sick we just go for government run hospital that 70% cheaper than Bangkok hospital.

If you are only source of family income when you have kids. Good school in Thailand very expensive.

How old is your wife ? I support you to try to bring her to UK for a few months.

Love and financing plan must go together because you spend all your saving. So you and your wife must plan on saving plan for your kids. And your income in Thailand will not enough for saving. It is also expensive here in Thailand.

Let your wife try first to be in UK for a few months.

A lot is being asked of you and nothing of her. She;

1. Won't find a reliable income source other than you.

2. Is dependent on others for sense of self worth. (Thus the loneliness)

3. Won't relocate to at least mitigate #2.

4. Doesn't understand basic microeconomics (hence telling you to quit your 208,000 Baht a month job)

If she could fix any of those four things this problem would disappear. If she doesn't value your relationship enough to make one concession or learn anything, even to fix her own suffering is that someone you want to give up a promising career for and move across the world to a place you don't want to live?

By the way, I was in the same situation two years ago (except that mine has a good job, so no #1). Since then I've only been back to Thailand to visit.

Hi, thanks for your comments. In answer

1. Won't find a reliable income source other than you-she wants to work but every avenue we have explored is hardly worth it financially so I have told her it is better to not bother-

2. Is dependent on others for sense of self worth. (Thus the loneliness)-Not true..I don't know where you get this from..she is lonely because her husband is on the other side of the world and she has to wait weeks on end to see/be with me for short periods of time

3. why do back breaking long hours for 2-300 baht a day?

4. Doesn't understand basic microeconomics (hence telling you to quit your 208,000 Baht a month job)-she does understand the economics but in her eyes 100,000 baht per mth is enough to have a good life in Thailand-what perhaps she does not understand(because she saw me get that previous job without too much difficulty) is that it is not easy if that job ends to find another as well paid as that-i was pretty lucky to find it..she also thinks I am putting my career in front of her.which I am not..I am thinking of what is best for our future that will probably involve children who will need money spent on them to have a good education.

Out of interest, when you say mine, are you still together? If so, does she live with you and where?

A lot is being asked of you and nothing of her. She;

1. Won't find a reliable income source other than you.

2. Is dependent on others for sense of self worth. (Thus the loneliness)

3. Won't relocate to at least mitigate #2.

4. Doesn't understand basic microeconomics (hence telling you to quit your 208,000 Baht a month job)

If she could fix any of those four things this problem would disappear. If she doesn't value your relationship enough to make one concession or learn anything, even to fix her own suffering is that someone you want to give up a promising career for and move across the world to a place you don't want to live?

By the way, I was in the same situation two years ago (except that mine has a good job, so no #1). Since then I've only been back to Thailand to visit.

Hi, thanks for your comments. In answer

1. Won't find a reliable income source other than you-she wants to work but every avenue we have explored is hardly worth it financially so I have told her it is better to not bother-why do back breaking long hours for 2-300 baht a day?

2. Is dependent on others for sense of self worth. (Thus the loneliness)-Not true..I don't know where you get this from..she is lonely because her husband is on the other side of the world and she has to wait weeks on end to see/be with me for short periods of time

3. Won't relocate to at least mitigate #2-she will relocate but would prefer I come back there

4. Doesn't understand basic microeconomics (hence telling you to quit your 208,000 Baht a month job)-she does understand the economics but in her eyes 100,000 baht per mth is enough to have a good life in Thailand-what perhaps she does not understand(because she saw me get that previous job without too much difficulty) is that it is not easy if that job ends to find another as well paid as that-i was pretty lucky to find it..she also thinks I am putting my career in front of her.which I am not..I am thinking of what is best for our future that will probably involve children who will need money spent on them to have a good education.

Out of interest, when you say mine, are you still together? If so, does she live with you and where?

The best decision i made, was to bring the bride to the states. For 11 years, she got educated in the western ways, pro and con and it changed her profoundly, and the kids had their first decade in America and now their next in Thailand.

I suppose the switchback in 8 years will be good for everyone. She is now alpha female amongst the tribe and is making up for past digressions.

I agree you need at least 8 years to work in UK. She may need a time as mention above.

i'm 66 y.o now and very happy to have a very good pension because of working in EU. So there is not any option to work in Thailand with no future of any pension later. Don't fool yourself.

Your wife/GF can come whenever it's possible.

Thank you for writing. I dont understand what you mean. Do you mean it is not possible to work in Thailand and have a very good pension/savings later and that I should stay working in the EU?

Do you mean it is not possible to work in Thailand and have a very good pension/savings later.

I am Thai and after I paid to Thai SS for 20 years. Max I can get when I retire at is 3,000B. per moth.

In private business do not have any pension in Thailand. Most of senior people live with their grand/children. They do not have pension to live by themselves.

Nid

You need saving for both of you. Seem you better take a hard time getting visas for her. But it is better to make income from UK for a period of time. Because currency exchange rate will be a lot to Thai money. In my neighborhood in suburban of Bangkok. We have one couple came from UK with some saving money at their retirement age. Thai wife and British husband. They are safe from their pension and have easy retirement here. You are better be in UK at least to work for retirement fund in Thailand. Do not come to live in Thailand now. You will be broke. Not easy to make bushiness here. Too many legal and staff problem.

I also sign a 4 million check to pay it to developer at Land Office.

Nid

I agree if you buy a house do prepare to walk away from it. To have a mortgage loan for expat interest rate is 6% in average. As I am one of insider for 10 years. Do not buy a house. Rent it or buy condominium is the solution.

The son in my story. He get used to with his father support him for his University and living after he graduate it was 2008 but unemployment rate 9% in U.S. so he had hard time making a living for himself. I look at a father I was caring for 10 years as my beloved husband. It is heartbreak that I cannot see him.

Wife married at Amphur office could see husband with or without sons permission.

If you just lived with a guy or had a 'village wedding' you are not his legal wife in Thailand and have no rights.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

Nid

I agree if you buy a house do prepare to walk away from it. To have a mortgage loan for expat interest rate is 6% in average. As I am one of insider for 10 years. Do not buy a house. Rent it or buy condominium is the solution.

The son in my story. He get used to with his father support him for his University and living after he graduate it was 2008 but unemployment rate 9% in U.S. so he had hard time making a living for himself. I look at a father I was caring for 10 years as my beloved husband. It is heartbreak that I cannot see him.

Wife married at Amphur office could see husband with or without sons permission.

If you just lived with a guy or had a 'village wedding' you are not his legal wife in Thailand and have no rights.

Correct I am not legal wife and have no rights to see him. But I am a major shareholder in a company. And only one Managing Director from day one that set up a company for buying a house.

Nid