dsfbrit

I have an HSBC acount in the UK and Bangkok.

Go to your local UK branch and make sure you understand how their Electronic Funds system work.

Ask to speak to their treasury department.

Best to do all the transfers in Sterling as you get the TT exchange rate (see below):

http://www.bangkokbank.com/Bangkok+Bank/We...es/FX+Rates.htm

I have recently had problems with HSBC in the UK with funds transferred from my local branch and so phone their international funds desk in India?? now - and so far all has been OK.

I have shut down my HSBC Bangkok account as I live in Pattaya and do all my transfers to my Pattaya Thai Farmer account.

The HSBC account is a pain to operate unless you live in Bangkok - as I am sure you know HSBC has only the one branch (because of Thai law I am told).

Good Luck - Thailand is great

I retired here 4 years ago and despite the inevitable problems ie: visas, land issues and a military takeover - I think its the best decision I ever made.

Any ideas - UBC, Sophon?

I have just returned from the UK and tried to stay the extra couple of weeks to watch the games, but it wasn't practical.

The playoffs start this Friday.

HELP!!

I am a Forest fan and would love to watch the playoffs.

Any idea if they are being shown on Sophon or UBC or any other channel??

I will spend the next few days checking out the UBC and Sophon sites anyway, but if you know of any venues where these games be shown I would appreciate the info.

thanks

Thanks Dr Naam for the prompt reply.

I will make the next transfer to Thai Farmer.

Mosquitoman and Dr Naam - thanks for your replies ... and your patience.

I will do this in pounds in future.

I have read a lot of posts in the last 24 hours and realise there is the offshore/onshore rate issue - groan.

With pounds transfer I get the onshore rate.

As a additional point, I currently send the money to HSBC Thailand and then transfer to Thai Farmers Bank in Pattaya.

I did this initially some years ago as I had no knowledge of whether the transfer to Thai Farmers bank would be OK (I was new to Thailand then) and thought HSBC (uk) - HSBC (th) would be safer.

However, having read lots of posts I intend to make the next transfer to Thai Farmer directly and if OK then shut down the HSBC account in Bangkok.

Can you think of any downside to this plan?

Because I always wanted to be sure of the exchange rate I would get, I have always converted from Pounds to Baht at my HSBC UK branch.

This money was then sent to my HSBC Thailand account.

The rate has always been about 1 baht lower than the published TT rate in Thailand, but at least I knew what I was getting!!

I was thinking of transferring in pounds and converting to Baht in Thailand.

This is mainly due to getting a poor rate from HSBC in the UK this time (63Baht) and the fact I can no longer talk to anyone at the branch to confirm the rate on the day of the exchange. I now talk to someone in a call centre in India - very helpful for many things, but bl**dy useless for 'real time' currency exchanges!

I ask them the exchange rate and they say they will have to put me through to the branch - the branch is always busy and they ask me to call back later ! until now there has not been a problem with the exchange rate though ...

I have made a formal complaint about this latest rate, but whether I win or lose my claim (when it no doubt eventually goes to the Banking Ombudsman), I still no longer trust my method of transfer.

I have read various comments on TV about SWIFT - maybe that would be the way to go, but just transferring in Pounds to HSBC Thailand would be easier.

Any help would be grealy appreciated

Every single contribution to this thread is about owning land and houses, which is of course illegal. The title of this thread, is I am afraid, contrary to the other issues of property ownership in Thailand i.e. apartments, which are legal and are doing fine thank you.

Please cease confusing the two! Confusing illegal and legal activity serves only one purpose.

You can own a house - thats not illegal. Its the land ownership that is the problem.

Owning apartments is only legal if its in the 49 percent allocation.

I would be interested in what is happening in these areas as well as the legal areas it will show what the state of the market really is.

For example - has anybody actually recently sold an apartment that is held in the company name? and was it below market rate.

So for me I would encourage all sales to be posted.

In my area , Banglamung Pattaya, there have been several houses on sale for a year now and not sold. One started at an asking price of 7.6 MillBaht and then

reduced to 6.9 Mill Baht 6 months ago. Not sure of the price now as I am dont want to ask him.

He put the house on the market last year just before the land law enforcement reports and had several people interested - but since last May - no real interest at all I have been told.

Well I am a real estate person but I think I qualify to comment because I brought a 8M house (for myself) in Nonthaburi in February.

The bank's mortgage valuation on the date of transfer was 500K more than I paid. Another encouraging thing for me is when we paid our deposit the houses in the estate started at 6.5M and now the same styles start at 8.5M. The first three phases are sold out, and they are still receiving orders for the final phases.

What method are you using to 'own' the land?

To answer your question Mobi, I dont think its time to dump the company yet. Those of us who decided to wait and see what happens are still waiting.

The FBA is still in a state of flux and until it is implemented and a farang is actually taken to court and had his land confiscated, then who knows what the outcome will be.

Even then there may be some sort of outcry or appeal and the government may back off - would not be the first time they have changed their mind when they have problems.

Its been a year since the so called crackdown and nothing has happened to anyone yet. No farang has had his land confiscated ??

Sure I could be the unlucky first farang to be taken to court - what a 'b**mer' if I am - still not very likely is it?

Then there are the elections later this year - the new government may lose interest in all this - or could get really motivated and start grabbing land.

I think though its still best to wait and see.

The law doesn't allow for confiscation of land. It first obliges the illegal foreign owner (i.e. the company) to sell and, if this is not done...

...

It looks like the amendments will probably now go through ...

Agreed, but these 2 sentences alone, would lead me to advise anyone with the company/ land ownership scenario to wait and see what is eventually decided and what the implementation actually turns out to be. Until an actual case is taken through the courts we can not be sure just how serious all this is. I have seen lots of legislation in Thailand slowly vanish as it proves difficult to implement and/or brings bad publicity.

Hey I could be wrong and all hel_l could be let loose on day 1 of the new law when/if it is implemented and enforced - I doubt it though.

I have spent the last 12 months understanding all the issues as best I can, so I am ready to do the 30 year lease thing with my wife if need be.

SO to to anybody who is aboout to buy land through the company route I would strongly advise them not to !!! I cannot understand why anyone would want to join this merry little 'club'. For those of us already with this scenario, then wait and see.

To answer your question Mobi, I dont think its time to dump the company yet. Those of us who decided to wait and see what happens are still waiting.

The FBA is still in a state of flux and until it is implemented and a farang is actually taken to court and had his land confiscated, then who knows what the outcome will be.

Even then there may be some sort of outcry or appeal and the government may back off - would not be the first time they have changed their mind when they have problems.

Its been a year since the so called crackdown and nothing has happened to anyone yet. No farang has had his land confiscated ??

Sure I could be the unlucky first farang to be taken to court - what a 'b**mer' if I am - still not very likely is it?

Then there are the elections later this year - the new government may lose interest in all this - or could get really motivated and start grabbing land.

I think though its still best to wait and see.

My UK passport is nearly full. Is a good time to renew the passport when I go to get my one year extension based on marriage. So that if say:

- My 1 year extension runs out on August 30th.

- I renew my British Passport at Bangkok around August 25th.

- Then start the process for the new extension with my new passport.

Seems easy - suspect there is a problem I have missed though??

Any thoughts would be appreciated.

I was thinking of the same process. You might still need the letter from Embassy asking immigration to transfer to new passport

It seems such an obvious thing to do. When I searched this forum to see if had been asked about before I could not find it - so thought it would be safer to ask.

I was planning to go to Bangkok - stay the night maybe - make a trip of it, renew the passport(the embassy should should give me the letter - shouldn't they?) and then head off to Pattaya Immigration a day later.

The trouble is with so many things to do with visas that seem 'simple' - there is often a 'sting in the tail' that makes it more complicated than first thought!

My UK passport is nearly full. Is a good time to renew the passport when I go to get my one year extension based on marriage. So that if say:

- My 1 year extension runs out on August 30th.

- I renew my British Passport at Bangkok around August 25th.

- Then start the process for the new extension with my new passport.

Seems easy - suspect there is a problem I have missed though??

Any thoughts would be appreciated.

For what its worth, if you want to shut it down I believe my quote some time ago from Sunbelt was only 8000 baht if it has NOT traded. If it HAS traded - which in your case it has not - then I believe it was a lot more complicated and was more like 30000 baht.

I have no doubt that if this is wrong someone will give you the exact price.

Anyway, it may be easier to just shut it down.

Edit:

I found the email Sunbelt sent last November:

If this company has had no activity other than owning the house, we have people who are interested in a shelf company from time to time. The fee than would be 6,000 Baht

If it has had activity, then the process takes around 2 years. The professional fee would be 25,000 Baht plus expenses. ( advert in the newspaper twice and two audits)

For those who are holding out with company structures, it makes sense to have arrangements in place in the event of the demise of Thai shareholders.

This is a scenario I had never considered. If one of the Thai nominee shareholders dies, then I will be storing a share transfer letter of a dead man in my safe. So if I need to use the letter in the future and put a date on it - it will not be of much real use will it.

Oh dear - another slight hole in a cunning plan

I am not an expert, but also have a dormant Liimted company - mainly to 'own' my house and land.

I have to file annual accounts also even though the company is dormant - and my annual cost is 15000 baht so you are fortunate.

Mind you my charge covers paperwork and accounts for the year - there is a smaller 6 monthly filing as well I believe.

Why did you set up the company ? to own land like many of us farangs?

I thought about these points for some considerable time and decided to play 'devils advocate'. I am not trying to be a smartarse here, but the method you suggest seems full of downsides?

I have thought about your point 1 and a mechanism that might improve security here would be to have a balancing shareholding in the name of some one who is your close friend and no connection to your wife, so she doesn't have 50% or more and the ability to fire the board and sell the property.

A close friend - not such an easy thing to have a Thai that is a close friend. Even after being on this planet for 50 years I only have 3 maybe 4 people I would consider to be a close friend. No Thais yet sadly. Also a wife may not have a close connection to my friend now - but in some years to come who knows

Thus, if the foreign shareholding is 49% this balancing shareholding would be 2%. If the foreign shareholding is 39%, it would be 11% and so on. You could also perhaps do a long lease of the property in your personal name from your company.

If I were to do long lease from the company there would be quite a considerable tax to pay - wouldn't there ?

If you do business and get some retained profits in the company, you can pay some dividends to the wife and yourself, if you are the main shareholders.

On the other hand it is more convincing that your wife should be a shareholder in your business than a random nominee. Thai families usually structure their businesses in this way. Assuming no problems from the FBA or the Land Code, this structure is safer in the event of a relationship breakdown than transferring the property to your wife and leasing it back as she doesn't have absolute ownership of the property or majority control of the company.

If the property and land were removed from the company and leased back from the wife as the owner, then this is very safe for 30 years-even if she dies - as long as the lease is written correctly.

It is also easier to transfer her shares to some one else than to transfer ownership of the land,if it is in her name.

Although I realize that this type of share transfer is illegal and can be challenged in a court, she might not want to bother to challenge it if understands that she couldn't control the company with less than a majority stake anyway.

the trouble is she might want to challenge it - then what

It is essential in any case to have a pre-signed undated share transfer form in case your wife predeceases you and this is a good way to explain it to her. You can also have her will the shares to you as an additional guard against her family members suddenly getting legally wised up. The same applies to the balancing shareholder.

A Will can be changed very easily - overnight in fact - so if the relationship changed so would the Will

Thanks for your help - much appreciated.

Just to be dumb about this I need:

- TM8 form with picture 1 Picture glued on it.

- 1 fotocopy of the form

- 1 fotocopy of passport pages.

I have done this quite a few times before, but never under pressure!

You can always get the re-entry permit from airport. I think your visa has to be non-immigration class. I have non-B n I always get the re-entry from airport. Though you have to go early (at least 3 hours before flight) thats what they say.

Any insight from other members.

Thanks for the feedback.

I just need the usual form and a photo I guess. I have a form TM8 and some photos so I shpuld be OK.

I am trying to get a flight - not so easy.

Thanks again.

I have just been called from the UK and need to return there urgently.

As 'luck' would have it its Friday and I dont have re-entry permit.

Can I get one at the Airport tomorrow or at Jomtien Immigration.

I think Jomtien is only open for 90 day notifications.

Any advice is greatly appreciated.

thanks

During this last High Season, were the tourists numbers good or bad?

Does anyone have the numbers ?

This would tell us at least one part of the story of the possible 'death' of Pattaya.

Arkady, I think we have both spent a lot of time looking into this issue.

Each 'solution' I have come up with has pros and cons and none has passed the 'test'.

The tests for me being:

1. whether I feel I am any 'better off' legally ie: is there more chance I will be able to

live in this house for the rest of my life if I want to.

2. Will I be able to sleep better without the worry of the 'land police' knocking at the door.

Dealing with the 2nd part first, I dont lose any sleep at all now. Last May when I first read about this land enforcement, I nearly ****ed myself. Now I have spent time understanding all the issues I dont lose any sleep at all. In fact I enjoy the discussion about what people are doing about it all - its become a hobby!

With the first part though, I dont think making the wife the major share holder would pass my 'test'. I get the feeling I would be better off with the land in her name / 30 year lease rather than doing this. Do you see an advantage in having her as the major shareholder if it were to be a proven viable set-up for you?

It seems a lot of hassle to me for very little real gain for you? especially if the FBA legislation is 'watererd down' and then not implemented/enforced with any real enthusiasm?

Nothing wrong with buying this property if its worth it. Being 'worth it' is a whole different discussion though.

The important thing is to de-couple it from the company structure when he buys it, before he is the owner. The costs of this can be split between your friend and the current company owners.

In other words buy via the lease route/ Usufruct etc...

Do not buy the company with the land etc... it is not worth the hassle/uncertainty and he will have all the problems with the additional business taxes if he does try to remove the property from the company in the next few years.

I have a property that is owned using the company method and I would not use it if I were buying a property now. Not worth the hassle.

Sunbelt would be the best people to advice your friend in this matter as they dont like the property method and they are considered to be honest.

good luck

I know the topic is Should tourists avoid Pattaya.

I would be interested to know it they did avoid Pattaya this year.

I live just outside Pattaya and dont visit much at night nowadays, so have no real idea what the height of the season was like.

Bought the paint etc...

The 'black stuff' on the top of the walls - see it all over the place on outside walls - what is it?

Is this just the damp?

Can I just wash it off and get painting or do I need to do something else first?

Thanks for any advice.

I was looking at pictures of the aftermath of the IRA bomb in Manchester today. I was in Manchester when that bomb went off (it was the largest terrorist bomb to detonate in the UK). There were lots of people injured but, thankfully, no one was killed.

Sadly, I think it's just a question of time until a tourist spot is hit in Thailand. It appears that the government are doing very little about. Closing off the stairs and searching bags on the MRT seems to be the extent of there precautions as far as I can see. That's not going to stop a determind terrorist.

Agreed.

Sorry you were in Manchester at that time. I lived and worked near the City of London when Canary Wharf and Liverpool Street etc... were targetted. I wasn't scared for some reason, more miffed by the 'ring of steel' they erected everywhere. Sad about the deaths though!

They searched under my Pickup with the 'mirrors on a stick' when I went to collect my wife from Pattaya Bangkok hospital yesterday. I found that a bit disconcerting, brought it home to me the reality of what is going on elsewhere in Thailand.

On quite a few occasions in London I reported bags and things to police or the owners of pubs when 'dickheads' just left them lying around the place. They often seemed to leave their bags on the floor next to me and went to talk to their chums at the other end of the pub! or go to the toilet for a while!!! I suppose we will be having to report 'suspicious' looking parcels soon - dont know who to though!