jackdd Posted October 11, 2017 Share Posted October 11, 2017 7 minutes ago, transam said: Some of us do not like living in an apartment and listening to neighbours stuff, being ripped off for electric etc.. He just talked about a condo. In a condo you pay directly to the government so it's the same rate as in a house. Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 1 hour ago, aussieinphuket said: Don't be a fool xxxx its that simple.... Buy in your name or don't do it... They will eventually work out a scam to get rid of your and you won't have anything left. Its plain and simple i have seen and heard of so many western guys getting scammed doing this .... Ah been waiting for the eventualy word and the heard of so many. Is that from a mate of a mate or perhaps reading and beliving one to many stories on here? Now this Eventualy are you implying that every Thai married to us foriegners are all secretly divising a scam for us there husbands? Ever seen a TV (tele vision) program called Jackanory. series that was designed to stimulate an interest in reading. The show was first transmitted on 13 December 1965, and the first story was the fairy-tale Link to comment Share on other sites More sharing options...
transam Posted October 11, 2017 Share Posted October 11, 2017 8 minutes ago, jeab1980 said: I see so its more complexes and moo banns than actual villages. Puts a new light on it. Concrete yes.... Link to comment Share on other sites More sharing options...
The Fat Controller Posted October 11, 2017 Share Posted October 11, 2017 If you want to buy a house and can afford to walk away should everything goes tits-up, then by all means do it. However, if you have time, rent somewhere close to where you plan to buy and see how you get on with living in Thailand. Personally, I am struggling to adapt to life in Thailand, the lack of other English speakers close by is a problem for me, even though I am in a big city (Ubon). Luckily, my wife and her family are all successful middle class and never ask for handouts, no family dramas at all. My advice, try living there first before buying. Link to comment Share on other sites More sharing options...
transam Posted October 11, 2017 Share Posted October 11, 2017 3 minutes ago, The Fat Controller said: If you want to buy a house and can afford to walk away should everything goes tits-up, then by all means do it. However, if you have time, rent somewhere close to where you plan to buy and see how you get on with living in Thailand. Personally, I am struggling to adapt to life in Thailand, the lack of other English speakers close by is a problem for me, even though I am in a big city (Ubon). Luckily, my wife and her family are all successful middle class and never ask for handouts, no family dramas at all. My advice, try living there first before buying. You will find many English speakers that are OK in N-Joy Bar.... Link to comment Share on other sites More sharing options...
Dipterocarp Posted October 11, 2017 Share Posted October 11, 2017 2 minutes ago, jackdd said: He just talked about a condo. In a condo you pay directly to the government so it's the same rate as in a house. This is true, my meter is from PEA in my name. Water is 30 baht per month. I rented a room two doors down for several months, (high season, low season), to check the noise situation. My neighbors are fine. Mostly Bangkok people who keep a Pied a Terre in Chiang Mai for weekends and holidays. Usually not in residence. The only noise was from nightclubs and CNX airplanes. None of that bothers me anyway but the nightclubs have been shuttered over the years and eventually I had the high quality German design dual pane windows installed. No motorbikes buzzing, no chickens, no howling dogs, goddamn frogs and screeching Crickets. Quite quiet actually. Link to comment Share on other sites More sharing options...
amvet Posted October 11, 2017 Share Posted October 11, 2017 1 hour ago, John Richards said: God you lot are so boring - I'm assuming he was after constructive advice not the usual banal sleep inducing racist claptrap from washed up bar flys !! He met her last month on the INTERNET speaks volumes of advice. Link to comment Share on other sites More sharing options...
AGareth2 Posted October 11, 2017 Share Posted October 11, 2017 1 hour ago, transam said: My chum is a farang estate agent too.. thought that was a job reserved for Thais? Link to comment Share on other sites More sharing options...
transam Posted October 11, 2017 Share Posted October 11, 2017 1 minute ago, AGareth2 said: thought that was a job reserved for Thais? No, a registered company.... Link to comment Share on other sites More sharing options...
revelstone Posted October 11, 2017 Share Posted October 11, 2017 If you really want to do this and if the amount of money is substantial enough to justify a few thousand dollars of lawyers bills (for drafting agreements) and also the yearly administrative costs of owning two companies, you could use the following structure in order to safeguard the asset. I'd really only do this if you're spending upwards of 10 million baht on a house. If it's just a cheap 500,000 baht house out in the sticks, then this would be total overkill. Register a Hong Kong or Singapore holding company, of which you own 100% Register a Thai company, 50% held by your girlfriend, 1% by another Thai person, 49% held by your offshore holding company Now plan a capital increase in the Thai company of however much money you need to buy the house. Your foreign holding company makes a cash loan to your girlfriend in her personal capacity for the amount of money she needs in order to buy 51% of the new share offering at an interest rate of, say, 9% per annum. The loan agreement specifies that the maturity date on the loan is the date stipulated on the notice you send to her demanding repayment and that the money from the loan be used for the purposes of acquiring preferred shares in the Thai entity. As security for this loan, your girlfriend will pledge her shares in the Thai entity via a share pledge agreement. The loan agreement can also stipulate that interest payments on the loan will be deferred until such time as the Thai entity distributes enough dividends to the borrower such that she can pay the interest. You then execute a call-put option agreement whereby your girlfriend can require your holding company to buy her shares in the Thai entity (a put option for her) as well as a call option for you whereby you can opt to buy her shares in the Thai entity. The price paid will be the paid up amount of each preferred share. It's important that this agreement be bidirectional. If you have the call option, then she must have a put option, otherwise it's potentially a nominee agreement. Using the money she has borrowed, your girlfriend then subscribes to preferred shares in the Thai entity. These preferred shares have a dividend right of 10% of the invested capital per annum. Because the shares have an economic benefit to the holder, it cannot be considered to be a nominee agreement. These preferred shares are immediately pledged to your offshore holding as security for her loan. Your holding company subscribes to common shares in the Thai entity, not preferred shares. Create a shareholders agreement in the Thai entity. Common shares have one vote per share, while preferred shares have one vote for every 10 shares. Here you specify the preferred dividend of 10% and also that preferred shares are not entitled to any other share in the profits of the company. You'll also need things like share transfer restrictions, a right of first refusal on sale of shares, a liquidation preference, a drag along and a shareholder approval on disposal of assets worth more than a specific amount. It's quite a complicated document. In the articles of association, all resolutions passed at a general meeting require a vote of at least 50% of the common shares outstanding. Now use the money from the capital increase to buy the house in the name of the company. If you split up or have a fall-out, you can exercise the call option to require her to sell her shares to you (in practise, they'll need to be sold to a Thai person as you cannot pass the 49% threshold). Or she could exercise the put option. In both cases, the amount of money transferred to her for the exercise of the option will be used to pay back the loan agreement, so this money will come to you anyway. With this structure she cannot exercise effective control of the Thai company that owns the house because her shares are pledged and also because she does not have voting control of the Thai entity. Voting control would be required in order to dispose of the asset. Link to comment Share on other sites More sharing options...
AGareth2 Posted October 11, 2017 Share Posted October 11, 2017 3 minutes ago, revelstone said: If you really want to do this and if the amount of money is substantial enough to justify a few thousand dollars of lawyers bills (for drafting agreements) and also the yearly administrative costs of owning two companies, you could use the following structure in order to safeguard the asset. I'd really only do this if you're spending upwards of 10 million baht on a house. If it's just a cheap 500,000 baht house out in the sticks, then this would be total overkill. Register a Hong Kong or Singapore holding company, of which you own 100% Register a Thai company, 50% held by your girlfriend, 1% by another Thai person, 49% held by your offshore holding company Now plan a capital increase in the Thai company of however much money you need to buy the house. Your foreign holding company makes a cash loan to your girlfriend in her personal capacity for the amount of money she needs in order to buy 51% of the new share offering at an interest rate of, say, 9% per annum. The loan agreement specifies that the maturity date on the loan is the date stipulated on the notice you send to her demanding repayment and that the money from the loan be used for the purposes of acquiring preferred shares in the Thai entity. As security for this loan, your girlfriend will pledge her shares in the Thai entity via a share pledge agreement. The loan agreement can also stipulate that interest payments on the loan will be deferred until such time as the Thai entity distributes enough dividends to the borrower such that she can pay the interest. You then execute a call-put option agreement whereby your girlfriend can require your holding company to buy her shares in the Thai entity (a put option for her) as well as a call option for you whereby you can opt to buy her shares in the Thai entity. The price paid will be the paid up amount of each preferred share. It's important that this agreement be bidirectional. If you have the call option, then she must have a put option, otherwise it's potentially a nominee agreement. Using the money she has borrowed, your girlfriend then subscribes to preferred shares in the Thai entity. These preferred shares have a dividend right of 10% of the invested capital per annum. Because the shares have an economic benefit to the holder, it cannot be considered to be a nominee agreement. These preferred shares are immediately pledged to your offshore holding as security for her loan. Your holding company subscribes to common shares in the Thai entity, not preferred shares. Create a shareholders agreement in the Thai entity. Common shares have one vote per share, while preferred shares have one vote for every 10 shares. Here you specify the preferred dividend of 10% and also that preferred shares are not entitled to any other share in the profits of the company. You'll also need things like share transfer restrictions, a right of first refusal on sale of shares, a liquidation preference, a drag along and a shareholder approval on disposal of assets worth more than a specific amount. It's quite a complicated document. In the articles of association, all resolutions passed at a general meeting require a vote of at least 50% of the common shares outstanding. Now use the money from the capital increase to buy the house in the name of the company. If you split up or have a fall-out, you can exercise the call option to require her to sell her shares to you (in practise, they'll need to be sold to a Thai person as you cannot pass the 49% threshold). Or she could exercise the put option. In both cases, the amount of money transferred to her for the exercise of the option will be used to pay back the loan agreement, so this money will come to you anyway. With this structure she cannot exercise effective control of the Thai company that owns the house because her shares are pledged and also because she does not have voting control of the Thai entity. Voting control would be required in order to dispose of the asset. might be easier to change your GF Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 Whenever you find yourself confused or curious why someone is doing something, remember that it's probably because they think doing it will make them happy. We all want happiness, after all, but it means different things to different people. You do what you do (and choose to believe what you believe), because you think it will make you happy. That's exactly why other people eat what they eat, date who they date, work where they work, wear what they wear, and live where they do. Let them find their own way. No judgment. ? Link to comment Share on other sites More sharing options...
revelstone Posted October 11, 2017 Share Posted October 11, 2017 4 minutes ago, AGareth2 said: might be easier to change your GF And almost certainly more sensible not to buy the house in the first place Link to comment Share on other sites More sharing options...
amvet Posted October 11, 2017 Share Posted October 11, 2017 Aug 20 he writes, Is Thaifriendly safe? Sep he writes, Looking for used car. Oct 1 he writes, Met someone don't know much about her, I want to look up on the web - how to use social media Oct 10 writes, Buying a house at the end of the year with girlfriend Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 1 minute ago, amvet said: Aug 20 he writes, Is Thaifriendly safe? Sep he writes, Looking for used car. Oct 1 he writes, Met someone don't know much about her, I want to look up on the web - how to use social media Oct 10 writes, Buying a house at the end of the year with girlfriend So your one of those stalkers then. Link to comment Share on other sites More sharing options...
Just Weird Posted October 11, 2017 Share Posted October 11, 2017 7 hours ago, realenglish1 said: If you buy a house for your girlfriend get a 30 year lease registered on your behalf otherwise she can kick you out Then if you want 100% protection for the home marry here Then under Thai law you have a right to 50 % if the marriage breaks up and you must sell it Assets acquired before the marriage don't come into a divorce split. Link to comment Share on other sites More sharing options...
spectrumisgreen Posted October 11, 2017 Share Posted October 11, 2017 (edited) 19 hours ago, aircooledflat4 said: Don’t do it. Don’t do it. Don’t do it. Don’t do it. Don’t do it. Don’t do it. That’s my advice every time. If in any doubt whatsover, this ALWAYS has to be the best and only advice!! Sadly, too many despite hearing such words of warning just think 'Yeah, I get that. But what if..?' and go ahead anyway, based on some wishful intention(s) and ever more subjectively hopeful ignorance that is blissfully devoid of consideration re, others related negative experiences in said matter(s)!!! Edited October 11, 2017 by spectrumisgreen Link to comment Share on other sites More sharing options...
amvet Posted October 11, 2017 Share Posted October 11, 2017 12 minutes ago, jeab1980 said: So your one of those stalkers then. If they didn't want people to look at past posts why would they be so readily available? Anyway- September he meets her and October is going to buy her a house? Aw come on he's pulling our legs. Link to comment Share on other sites More sharing options...
fusion58 Posted October 11, 2017 Share Posted October 11, 2017 Danger, Will Robinson! Abort! Abort! Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 1 minute ago, amvet said: If they didn't want people to look at past posts why would they be so readily available? Anyway- September he meets her and October is going to buy her a house? Aw come on he's pulling our legs. No not necessarily met my wife in june married in july didnt buy a house as we were both in BKK working and had no intentions of stopping there (ten bloody Years later) We built a house. But the point is it happens a lot first wife in UK met in November and married in December no great shakes. Link to comment Share on other sites More sharing options...
LannaGuy Posted October 11, 2017 Share Posted October 11, 2017 5 hours ago, jeab1980 said: But when Thai women have that attitude with Farang you call then rip of merchants.! Pot kettle black. Ok for me but not for you attitude, love it farang double standards at its very best. Not at all I just play 'n' pay and LOVE IT Link to comment Share on other sites More sharing options...
LannaGuy Posted October 11, 2017 Share Posted October 11, 2017 41 minutes ago, jeab1980 said: Whenever you find yourself confused or curious why someone is doing something, remember that it's probably because they think doing it will make them happy. We all want happiness, after all, but it means different things to different people. You do what you do (and choose to believe what you believe), because you think it will make you happy. That's exactly why other people eat what they eat, date who they date, work where they work, wear what they wear, and live where they do. Let them find their own way. No judgment. ? "No judgement" you???? don't make me larf you are always on here saying how happy you have been for 20 years and Thais are soooooooooooooo wonderful. You are in a small deluded minority - enjoy it but don't give a noobie bad advice. Link to comment Share on other sites More sharing options...
amvet Posted October 11, 2017 Share Posted October 11, 2017 19 minutes ago, jeab1980 said: No not necessarily met my wife in june married in july didnt buy a house as we were both in BKK working and had no intentions of stopping there (ten bloody Years later) We built a house. But the point is it happens a lot first wife in UK met in November and married in December no great shakes. My minimum is 3 years living together and I don't think that's long enough. My error was not getting a vasectomy at 12 years old. Link to comment Share on other sites More sharing options...
scorecard Posted October 11, 2017 Share Posted October 11, 2017 19 hours ago, musiclover said: Not totally true....the husband has rights too True, by Thai law unless their owner has left a legitimate valid will bequeathing the property in a different split to the basic law provisions. Also true, it's possible (given certain circumstances) that the land is owned by the Thai person but the house is owned by a different person, including non-Thai people. Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 (edited) 1 hour ago, LannaGuy said: "No judgement" you???? don't make me larf you are always on here saying how happy you have been for 20 years and Thais are soooooooooooooo wonderful. You are in a small deluded minority - enjoy it but don't give a noobie bad advice. Its not being judgemental to say i appreciate what I have. Relax yourself negative thoughts do your kama no good whatsoever. If you truly dislikevthe place you choose to live. The solution is easy. Calm minfs breed calm decisions. What you may think is deluded is just that your thoughts. You constantly give bad advise at the same time as giving out bad kalma. Look within your sole and cleanse your mind and your spirit will be freed. Point of order please advise post where I have stated 20 years. Edited October 11, 2017 by jeab1980 Link to comment Share on other sites More sharing options...
jeab1980 Posted October 11, 2017 Share Posted October 11, 2017 1 hour ago, amvet said: My minimum is 3 years living together and I don't think that's long enough. My error was not getting a vasectomy at 12 years old. You seevwe are all diffrent. But that doesnt mean in rightbor your right. Just diffrent points of view. Would be a boring world indeed if we all thought the same. Would be likebliving in Thai visa land in a time loop Link to comment Share on other sites More sharing options...
SheungWan Posted October 11, 2017 Share Posted October 11, 2017 8 minutes ago, jeab1980 said: Its not being judgemental to say i appreciate what I have. Relax yourself negative thoughts do your kama no good whatsoever. If you truly dislikevthe place you choose to live. The solution is easy. Calm minfs breed calm decisions. What you may think is deluded is just that your thoughts. You constantly give bad advise at the same time as giving out bad kalma. Look within your sole and cleanse your mind and your spirit will be freed. Point of order please advise post where I have stated 20 years. 'Look within your sole' Link to comment Share on other sites More sharing options...
realenglish1 Posted October 11, 2017 Share Posted October 11, 2017 2 hours ago, Just Weird said: Assets acquired before the marriage don't come into a divorce split. Of course Marry her before you get the house or tell her to take a hike She will say she has undying love for you until you give her the key to the palace They all do Link to comment Share on other sites More sharing options...
Just Weird Posted October 11, 2017 Share Posted October 11, 2017 2 minutes ago, realenglish1 said: Of course Marry her before you get the house or tell her to take a hike She will say she has undying love for you until you give her the key to the palace They all do "Of course marry her before you get the house"? That's not what you said in the post I replied to, that's why I commented... 10 hours ago, realenglish1 said: If you buy a house for your girlfriend get a 30 year lease registered on your behalf otherwise she can kick you out Then if you want 100% protection for the home marry here Then under Thai law you have a right to 50 % if the marriage breaks up and you must sell it Your post said get a 30 year lease then marry her if you want 100% protection. Link to comment Share on other sites More sharing options...
Kadilo Posted October 11, 2017 Share Posted October 11, 2017 Your post said get a 30 year lease then marry her if you want 100% protection. Surely you are not looking for consistency on here? Sent from my iPhone using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
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