More money

[transam]

5 minutes ago, Justfine said:

Post a photo of your face.

You maybe surprised...Poss is a friend of mine and a few of you are barking up the wrong tree....

[jacko45k]

12 minutes ago, Justfine said:

6% a year. Money invested can earn that or more. Ownership comes with insurance, maintenance and other fees too.

Sure, but buy well and you can get good capital appreciation on a Thai condo too. Along with the Thai baht appreciation relative to a few currencies that may produce some profit. But if we are talking of a person's main residence, that would not be realised.

Edited February 15, 2018 by jacko45k

[Justfine]

13 minutes ago, transam said:

You maybe surprised...Poss is a friend of mine and a few of you are barking up the wrong tree....

Boyfriend hey? Who's a pretty boy.

[transam]

3 minutes ago, Justfine said:

Boyfriend hey? Who's a pretty boy.

Well both of us actually, cos l ain't a fat boy either....

[seancbk]

1 hour ago, transam said:

You maybe surprised...Poss is a friend of mine and a few of you are barking up the wrong tree....

 

Possums do live up trees so maybe it *is* the right one 

[tingtongtourist]

12 hours ago, Tony125 said:

My opinion is that some guys are just callous unfeeling   ----------- If a woman (Thai or otherwise) has been with you, taken care of you , comforted you and been your companion  for years when you die you figure your dead don't care what happens to her now. Unlike the US and other countries the girl or wife would not have a pension or social security to provide for her in old age. 

Farang 78 in my village passed away , left his Thai wife (64) with no pension or insurance. She has only a home worth about 6 million baht that she has put up for sale as she has no income to live on. That is a damn shame. One should care how a supposed love one is going to survive after your gone. Think as she is older too that she can just find another guy to support her?   If my wife were to screw me over I could divorce and get hopefully half of sale of house and property we own if not I could walk away with my US pension and she would have property but no income. If things stay fine when I die she gets the properties and 70 percent of my pension.

actually that lady should be set up for life.

 

she most probably sell that house and go live with family or build on family land, Thai style house for 500k.

 

but yes, if i know a Thai lady, she give money to family, live a high life and burn all that before 6 months

 

[Ninni]

She is not in it for you!

This is not love!

Listening to the little voice inside of you, then you know!

RUN!!!!!!!!!!!!

[tingtongtourist]

2 hours ago, Langsuan Man said:

That is why a company is never set up with only two owners, always a minimum of three , 49% for one, and 51% divided between the other two (who usually don't know each other), therefore the 49% owner will always have a majority, not really rocket science but good business practice

and how do you know the three other peoples is not lawyers wife, sister and daughter?

hmmm

no thanks, at least with condo, you can own and get something back when you sell, although will never be a good market for a seller here i think.

 

when in Thailand and think of 

houses

women

things that fly

RENT RENT RENT

 

if you start to doubt it..give yourself a punch in the head.

 

P.S. but if you consider to rent a jet ski also give yourself a uppercut!

 

[xylophone]

2 hours ago, Langsuan Man said:

That is why a company is never set up with only two owners, always a minimum of three , 49% for one, and 51% divided between the other two (who usually don't know each other), therefore the 49% owner will always have a majority, not really rocket science but good business practice

But there again, setting up a company for the sole purpose of house/land ownership is illegal, irrespective of how many shareholders one cares to involve.

[transam]

13 minutes ago, xylophone said:

But there again, setting up a company for the sole purpose of house/land ownership is illegal, irrespective of how many shareholders one cares to involve.

And I read somewhere the gov don't like it....

[Langsuan Man]

1 hour ago, tingtongtourist said:

and how do you know the three other peoples is not lawyers wife, sister and daughter?

It's called due diligence, YOU pick the other shareholders and as Managing Director you can add and remove them at will 

Posters love to come here and pontificate on subjects that they have absolutely no knowledge of, other than what they read at Thai  Visa

 

30 minutes ago, transam said:

And I read somewhere the gov don't like it....

Then there would not be the system in place

 

47 minutes ago, xylophone said:

But there again, setting up a company for the sole purpose of house/land ownership is illegal, irrespective of how many shareholders one cares to involve.

citation please 

[seancbk]

3 minutes ago, Langsuan Man said:

1 hour ago, tingtongtourist said:

and how do you know the three other peoples is not lawyers wife, sister and daughter?

It's called due diligence, YOU pick the other shareholders and as Managing Director you can add and remove them at will 

Posters love to come here and pontificate on subjects that they have absolutely no knowledge of, other than what they read at Thai  Visa

 

Well said.

[transam]

5 minutes ago, Langsuan Man said:

It's called due diligence, YOU pick the other shareholders and as Managing Director you can add and remove them at will 

Posters love to come here and pontificate on subjects that they have absolutely no knowledge of, other than what they read at Thai  Visa

 

Then there would not be the system in place

 

citation please 

A farang guy I know has a company and is building a "resort". Been building it for years with a residence on it. Still not finished. Each year the gov pops round to collect 7000bht company dues and asks questions about income from the company, he tells them l am still building the resort..

PS...This is what he told me...

 

 

[xylophone]

22 minutes ago, Langsuan Man said:

1 hour ago, xylophone said:

But there again, setting up a company for the sole purpose of house/land ownership is illegal, irrespective of how many shareholders one cares to involve.

citation please 

These from Govt Departments/Ministers and reputable Lawyers, plus other links (not Thaivisa) make it very clear.

 

Articles on foreign ownership in Thailand………..

 

A). This from the Land Department Minister.

 

"If it appears that the company is having foreigner as shareholder or Director or if there is a reason to believe that it is nominating the Thais to hold shares for the foreigners, the officer is to investigate income of every Thai shareholders in the legal entity by looking into their work history of what kind of work they have done and what monthly salary they earned, all of these proved by evidence.

 

If the purchased is funded by loan, then loan evidence must be provided. If after the investigation, it is led to believe that the application for land ownership is circumventing the law or any individual is purchasing land to the benefit of foreigners under the Land Act 74, paragraph 2, the officer is to investigate the case in detail and report to the Land Bureau to be waiting for further advise from the Minister".

 

http://www.thailaws....business_42.htm 

 

B). Link to an article in the Telegraph....

 

"Expats who own land illegally in Thailand could be deported under tough new laws being drafted by the government.

 

Thai ombudsman Siracha Charoenpanij said earlier this month that he was drawing up "carrot-and-stick" legislation to protect the country from illegal foreign nominee ownership.

 

Under Thai laws, foreign nationals are not allowed to own residential land. They can, however, buy apartments so long as no more than 49 per cent of a development is owned by foreigners. They can also purchase detached villas, but while they can own the house, they cannot own the land the house is on and are only able to lease it for 30 years at a time.

 

To get around these restrictions, some have entered into complicated structures whereby a company is set up to purchase the land. A Thai national holds the majority of shares in that company, but in reality may have no financial interest in the company and may own it on behalf of the foreign buyer.

 

It is these such "nominee ownership" arrangements that the government now wants to crack down on, and Charoenpanij has also proposed a reward – of 20 per cent of the land’s value when sold – for those providing information about illegal ownership. His plans also include penalties for lawyers or consultants who advise foreign buyers on nominee structures".

 

C). 1). Unquestionably it is illegal to buy a house via a company.

 

 The Thailand Alien Business act is quite specific, and there is a blanket offence of circumventing land ownership laws that means anything that appears to allow foreigners to own houses is actually illegal.

 

2). Be careful here because it is illegal for a company to be formed with the sole purpose of owning a property. If the company is a trading/working entity employing Thai workers, paying taxes etc then a house can be purchased, but then again the company has to also have a majority Thai ownership and these majority Thai shareholders must be able to show how much they have invested in this company and from whence the funds came.

 

This is to prevent the “Thai nominee company” illegal workaround and nominee companies are illegal...

 

http://www.thailand-lawyer.com/land_purchase.html

 

http://www.telegraph.co.uk/finance/personalfinance/expat-money/9413075/Expats-warned-of-illegal-home-crackdown-in-Thailand.html

 

http://www.thailandlawonline.com/66-real-estate-legal-issues/14-can-a-thai-company-be-my-nominee-for-land-acquisition

 

http://www.thailandlawonline.com/article-older-archive/foreign-business-nominee-company-shareholder

 

 

[transam]

2 minutes ago, xylophone said:

These from Govt Departments/Ministers and reputable Lawyers, plus other links (not Thaivisa) make it very clear.

 

Articles on foreign ownership in Thailand………..

 

A). This from the Land Department Minister.

 

"If it appears that the company is having foreigner as shareholder or Director or if there is a reason to believe that it is nominating the Thais to hold shares for the foreigners, the officer is to investigate income of every Thai shareholders in the legal entity by looking into their work history of what kind of work they have done and what monthly salary they earned, all of these proved by evidence.

 

If the purchased is funded by loan, then loan evidence must be provided. If after the investigation, it is led to believe that the application for land ownership is circumventing the law or any individual is purchasing land to the benefit of foreigners under the Land Act 74, paragraph 2, the officer is to investigate the case in detail and report to the Land Bureau to be waiting for further advise from the Minister".

 

http://www.thailaws....business_42.htm 

 

B). Link to an article in the Telegraph....

 

"Expats who own land illegally in Thailand could be deported under tough new laws being drafted by the government.

 

Thai ombudsman Siracha Charoenpanij said earlier this month that he was drawing up "carrot-and-stick" legislation to protect the country from illegal foreign nominee ownership.

 

Under Thai laws, foreign nationals are not allowed to own residential land. They can, however, buy apartments so long as no more than 49 per cent of a development is owned by foreigners. They can also purchase detached villas, but while they can own the house, they cannot own the land the house is on and are only able to lease it for 30 years at a time.

 

To get around these restrictions, some have entered into complicated structures whereby a company is set up to purchase the land. A Thai national holds the majority of shares in that company, but in reality may have no financial interest in the company and may own it on behalf of the foreign buyer.

 

It is these such "nominee ownership" arrangements that the government now wants to crack down on, and Charoenpanij has also proposed a reward – of 20 per cent of the land’s value when sold – for those providing information about illegal ownership. His plans also include penalties for lawyers or consultants who advise foreign buyers on nominee structures".

 

C). 1). Unquestionably it is illegal to buy a house via a company.

 

 The Thailand Alien Business act is quite specific, and there is a blanket offence of circumventing land ownership laws that means anything that appears to allow foreigners to own houses is actually illegal.

 

2). Be careful here because it is illegal for a company to be formed with the sole purpose of owning a property. If the company is a trading/working entity employing Thai workers, paying taxes etc then a house can be purchased, but then again the company has to also have a majority Thai ownership and these majority Thai shareholders must be able to show how much they have invested in this company and from whence the funds came.

 

This is to prevent the “Thai nominee company” illegal workaround and nominee companies are illegal...

 

http://www.thailand-lawyer.com/land_purchase.html

 

http://www.telegraph.co.uk/finance/personalfinance/expat-money/9413075/Expats-warned-of-illegal-home-crackdown-in-Thailand.html

 

http://www.thailandlawonline.com/66-real-estate-legal-issues/14-can-a-thai-company-be-my-nominee-for-land-acquisition

 

http://www.thailandlawonline.com/article-older-archive/foreign-business-nominee-company-shareholder

 

 

Thanks for that, some is what I had read....

[transam]

4 minutes ago, xylophone said:

No need really mikiea..........all laid out in post #106 and quoting Thai Govt Law and it should end the debate, but then again!

 

 

There will always be those who pooh pooh, same as those who claim benefits etc from the UK cos they have an address they use in the UK.....Chancers....

[tingtongtourist]

3 hours ago, Langsuan Man said:

It's called due diligence, YOU pick the other shareholders and as Managing Director you can add and remove them at will 

Posters love to come here and pontificate on subjects that they have absolutely no knowledge of, other than what they read at Thai  Visa

 

Then there would not be the system in place

 

citation please 

many threads here you will read about a lawyer who drafts fake paperwork.

Also some lawyer start this scheme with other directors who dont even exist.

 

In any case its a loaded dice.

you are skirting the law and when there is trouble or you get scammed you will loose ALL your money/assets.

up to you 

 

[metisdead]

Troll posts and the replies have been removed. 

[flashgordon1959]

I am living with my GF 5 years with some problems more or less.
Last year she broke my heart in a bad way but still my love for her was bigger as my ego.
After this i thought all went for the better even when i always thought what is comming next,
Well the next has come up because she complain more and more i no have money and i give
her small money more now and then.
now i know she had money and just asking to squeeze me out i quess
 
Now she asked me if she can get my house (7-8 m) when i die.
I was speachless and thought how you can ask this, i take care you more than good.
Now I wonder she is with me for me or is she with me because of my house?
I never will know the answer as long i am with her as it is an vicious circle.
now i feel bad and unhappy about this but she claimes it is normal to ask for a thai lady.

Get ready for the chopping block pall.

Sent from my LG-V500 using Tapatalk

[marko kok prong]

My ex wife once said "i need more money"  

i replied "stop giving it to your family then"

[xylophone]

Xylophone said:-

 

No need really mikiea..........all laid out in post #106 and quoting Thai Govt Law and it should end the debate, but then again!

 

Correction........post #104

[thaibeachlovers]

On ‎3‎/‎8‎/‎2018 at 11:43 AM, marko kok prong said:

My ex wife once said "i need more money"  

i replied "stop giving it to your family then"

When I made it clear the family would not get any more money from me, and at the time they owed me for the money I "loaned" them for the MIL's funeral, they solved the problem by kicking me out of the family house and not allowing me back to collect any of my property. Needless to say I'll never get the "loan" repaid.

[TallGuyJohninBKK]

On 2/15/2018 at 1:10 PM, xylophone said:

B). Link to an article in the Telegraph....

 

"Expats who own land illegally in Thailand could be deported under tough new laws being drafted by the government.

 

Thai ombudsman Siracha Charoenpanij said earlier this month that he was drawing up "carrot-and-stick" legislation to protect the country from illegal foreign nominee ownership.

 

Wonder what ever became of this guy and his proposed legislation???

[Langsuan Man]

20 hours ago, TallGuyJohninBKK said:

Wonder what ever became of this guy and his proposed legislation???

He is probably busy drafting Red notices on behalf of the RTP to INTERPOL for the fugitive Red Bull heir