Divorce in Thailand + company in home country

[somtumwrong]

Hi, some months ago I got asked what happens to someone who is married and living in Thailand, and owns a sizable company in his home country - which he had already before marrying. Not sure why people ask me (I'm not an expert on Thai matters), but would like to know it myself as well. Will such a company in your home country be subject to the 50% asset split, or, as I understand, is this an asset your personal one since it was obtained before marriage? And as the 'fruits of the personal assets' are subject to be split 50%, is this calculated from the growth of the company , or how is this done? I'm talking about Thai law where both wife and husband live in Thailand.

 

Another subject is if Thai divorce law can be enforced in your home country ?

 

[happylarry]

Thai law is for Thailand.......the Thai courts cannot touch any assets in another country.

HL

[Berkshire]

On 7/8/2018 at 10:48 PM, happylarry said:

Thai law is for Thailand.......the Thai courts cannot touch any assets in another country.

HL

That has been my belief...that in a divorce (foreigner and Thai in Thailand), foreign assets are largely untouchable.  Curious to know if anyone else has any contrary experience. 

[andytime]

I had an expensive divorce here (married In Thai law/living here) and lost quite enough however my ex wife was seemingly unable to go after assets she knew I had in Oz and certainly would have pursued that option if available.  I also had a valuable property here that came after marriage (18 months). She was also unable to get a half share of that based on the property being wholly funded by my pre-existing assets. I lost quite enough but the Thai divorce law appears favourably applied to asset holders even if the assets change form.. ie assets of some kind exist beforehand and are then sold (into cash) and then that money is re-invested back into a property at a later point in time.  That was my experience albeit the first lawyer said give her half of the property coming after marriage and would have been expensive negative advice.  She had other properties in her name that I had bought that she kept but I managed to save this property in Thailand that was purchased after official marriage.

[BritManToo]

56 minutes ago, Berkshire said:

That has been my belief...that in a divorce (foreigner and Thai in Thailand), foreign assets are largely untouchable.  Curious to know if anyone else has any contrary experience. 

If she has access to the court system in your home country it's a different game.

Let's hope you never got her a VISA for home.

[Berkshire]

6 minutes ago, BritManToo said:

If she has access to the court system in your home country it's a different game.

Let's hope you never got her a VISA for home.

Yes, I understand that if you both were living in the foreigner's home country (e.g., USA), it would be a whole new ballgame.  But again, living in Thailand, marriage not registered in the foreigner's home country, wife not a citizen of the husband's home country, assets overseas should be untouchable. 

[BritManToo]

1 minute ago, Berkshire said:

marriage not registered in the foreigner's home country, wife not a citizen of the husband's home country, assets overseas should be untouchable. 

Not if she has a VISA for the home country.

If she has been married 5 years, assume 50% of everything you own.

If you have kids with her under age 15, assume 60-70% of everything you own.

I'm told Oz is particularly easy for her to access as a foreigner from overseas.

For the UK/USA/EU she would need to travel there and file for divorce.

[Berkshire]

22 minutes ago, BritManToo said:

Not if she has a VISA for the home country.

If she has been married 5 years, assume 50% of everything you own.

If you have kids with her under age 15, assume 60-70% of everything you own.

I'm told Oz is particularly easy for her to access as a foreigner from overseas.

For the UK/USA/EU she would need to travel there and file for divorce.

Interesting.  I'm not familiar with Oz, but you're correct about the USA.

[AlexRich]

Given that many foreigners in Thailand are older, many divorcees or widowers, I really can't see the point of ever getting married again. Better off with a long term girlfriend. Divorce laws in western countries do not favour the wealthier spouse, so why risk a potentially devastating blow to your finances at an age when it is difficult or impossible to recover?

[Berkshire]

1 hour ago, AlexRich said:

Given that many foreigners in Thailand are older, many divorcees or widowers, I really can't see the point of ever getting married again. Better off with a long term girlfriend. Divorce laws in western countries do not favour the wealthier spouse, so why risk a potentially devastating blow to your finances at an age when it is difficult or impossible to recover?

Regardless of one's reason(s) for getting married, the consensus appears to be that in the event of divorce from a Thai spouse in Thailand, foreign assets are safe...except if one is Australian. 

[BritManToo]

1 hour ago, AlexRich said:

Given that many foreigners in Thailand are older, many divorcees or widowers, I really can't see the point of ever getting married again. Better off with a long term girlfriend. Divorce laws in western countries do not favour the wealthier spouse, so why risk a potentially devastating blow to your finances at an age when it is difficult or impossible to recover?

A lot of guys don't realise how much the western divorce courts take from a guy.

I certainly didn't, cost me 65% of everything I had ever earned and inherited.

Which is why I have to live in the 3rd world now.

[AlexRich]

1 hour ago, BritManToo said:

A lot of guys don't realise how much the western divorce courts take from a guy.

I certainly didn't, cost me 65% of everything I had ever earned and inherited.

Which is why I have to live in the 3rd world now.

Quite, for a couple with unequal wealth and earning power it’s a risky endeavour. Berkshire seems to think that foreign based assets are safe, but I’m not exactly convinced about that.

[Berkshire]

14 hours ago, AlexRich said:

Quite, for a couple with unequal wealth and earning power it’s a risky endeavour. Berkshire seems to think that foreign based assets are safe, but I’m not exactly convinced about that.

I'm certainly not 100% sure.  But if your wife/ex-wife doesn't know about the extent of your foreign assets, doesn't understand how to maneuver within that system, and can't even get to the country in question....well, it would seem safe.  But there are many variables and situations with each and every couple.