Probe finds 5 suspected local-nominee business services for foreigners

[NeoDinosaw]

57 minutes ago, Mr Meeseeks said:

Happened next door in 1975 but most round eyes that were still there were executed, not deported.

From Cambodia all the round eyes were  trucked out from the French Embassy , where they had been gathered, through to Aranyapathet.. It was slow moving because of  the number of massacred locals blocking the roads.   

[Bluedan]

59 minutes ago, VBF said:

I was offered a 30+30+30 lease in Phuket in the nineties.

I was told similar to that about the registration and couldn't seem to get a straight answer. ????

I was also unable to get even an estimate of how much the first, let alone the second renewal might cost when it became due or what the exact mechanism would be.

 

The concept of investing a sizable chunk of my savings in a retirement home that may or may not be there for me as I aged, somehow didn't appeal to me.

I must be a coward...... ????

not a coward ..smart

the reason they wouldn't tell u is because its dodgy 

also lawyers here often get the client referral from a developer of real estate agent = immediate conflict of interest

and many doing consider the possibility that the owner of the land dies and  the land passes to his estate or sells the land to someone who may not wish to honor the dodgy lease extension

[ThailandRyan]

49 minutes ago, NeoDinosaw said:

STOP blaming Dinosaurs for everything that goes wrong !!

Yes, the dinosaurs are extinct, either now in museum bone exhibits, excavation locations, tar pits or buried in the oil rich plateus under the earths surface.

[SomchaiCNX]

4 hours ago, Mr Meeseeks said:

I have the company named but I don't have an address or a 'place of work' defined on my work permit as I have multiple offices and facilities that I must regularly visit. I attend conferences and meetings on behalf of my company all the time and have never given it a second thought. 

 

I think you are thinking too much about the vehicle situation too mate, I can see issues developing if you are driving about in a Toyota Commuter van with a bunch of tourists in the back and the local transport mafia have grassed you up but other than that I am sure you would be fine.  

Well, was arrested once in 93, they tried again in 97, different company. Started my own business in 2000 and was a pioneer in my field, have been copied by many companies since then, even by those I trained myself. I keep low profile and try to follow the rules so they don't have a reason nor anything else against me. 

[SomchaiCNX]

4 hours ago, Mr Meeseeks said:

 

Foreigners have to do business in areas where Thais are not able in Thailand, that is one of the keys to success. Look at the Chinese, they are selling them subs and high speed trains, both of which are far beyond the expertise of local companies. There will be an influx of skilled foreign (in this case Chinese) labour to supervise the Thais, just as there is on every mega project in Thailand. 

 

Opening bars, restaurants and laundry services are low hanging fruit and just asking for local competitors to destroy you.

 

You have to think what is beyond the ability of the local Somchai. 

 

Granted, those businesses and opportunities are continually diminishing, as Thailand continues to develop, but if one is so motivated they are still available. 

I'm one of these Somchai's ???? so don't make it to personal ???? 

[Bluedan]

5 hours ago, SomchaiCNX said:

Well it is simple.

1. Let's make laws that makes it impossible for foreigners to do anything legally.

2. Then complain that foreigners are doing illegal things.

3. Go after those that found the loopholes.

you missed something between 1 and 2 ....allow loopholes and then accept bribes to bypass the law

[Dogmatix]

It's totally shocking that foreigners are trying to invest in Thailand on the same basis that Thais invest in most other countries.  They all should all be put in prison including the foreigners who control large companies like AIS and DTAC using fancy schemes dreamed up by lawyers to disguise their ownership, even though everyone knows.  In fact it would safest to prohibit all inflows into Thailand completely to ensure no illegal investment. Make Thailand a land of outward remittances only and the problem will be solved. 

[Jen65]

11 hours ago, SomchaiCNX said:

So change the law similar to other countries in the world and the problem is solved overnight. Or.........we should treat all Thai the same once they leave their country. No house, no property no car no phone no job no insurance. Confiscate all Thai property and companies in the west and lets see how they react ????  To many stupid anti foreigner rules over here and it is not getting better.

it's about time it was on a "like for like" footing - just look at the import duty if you move here and want to bring your car !! I'm not sure I want to remain a " 1 year tourist" after deciding to up-sticks and retire here , invest and live here long term ( Guess I didn't read between the lines before taking the plunge here ).  Unfortunately things are going "the wrong way " and becoming more like China and how they treat Hong Kong .  Indonesia is actually the most democratic country in Asia . Others like Thailand are currently labelled as FD's (fake democracies )  

[onthedarkside]

A photo posted in this thread has been removed for lacking both a relevant source link and caption info.

 

[Tick Nurner]

14 hours ago, ThailandRyan said:

Nationalities and names of the supposed companies would be nice.  Names of the new Hotels being built or that have been purchased, which Tour Package operations, which Zero Dollar Tour Bus companies?  The news report leaves so many unanswered questions that could have been answered instead of just saying 5 Juristic entities.  If they are Juristic entities, who are the Thai's that set these companies in motion, how much was the bribe paid, are the Thai individuals connected, and better yet will there be more reporting on this or will it just fade away due to connections and money paid to make it go away.

When they've been confirmed as acting illegally presumably they will be identified publicly, until then there's no reason to make details public... 

 

"A probe by the Department of Business Development has turned up five juristic entities suspected of using local nominees to illegally help foreigners invest in Thailand this year ... The department has forwarded its findings for further investigation by the Department of Special Investigation (DSI)".

[SiSePuede419]

Thais love getting 51% of Farang's money.

 

Thais hate giving Farangs control of that money ????

 

Any other questions? ????

[smylee52]

7 hours ago, BigStar said:

 

 

Our naive noob members, babes in the wood, seem never to have learned the classic, shrewd, street-smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you or freely leave behind;

3. Keep your suitcase packed at all times.

 

Experienced, knowledgeable members follow these religiously. Why are you still here, anyway?

 

Now quoting one or more of the Laws entitles you to an extra ten (+10) instant points of TVF posting cred from our peanut gallery, but you blew it. Still, you have time to RUN! NOW! You've been warned!!! Meanwhile I'll continue to enjoy the good life in Pattaya. ????

 

 

 

4. Never trust a fart .

[SupermarineS6B]

14 hours ago, BigStar said:

Exactly. All farang bank accounts will be confiscated, safety boxes broken open, houses searched by Thai SWAT teams and looted, farang rounded up, detained, extorted, and then summarily deported. Could happen tomorrow.

 

Our naive noob members, babes in the wood, seem never to have learned the classic, shrewd, street-smart TVF Poster Three Primal Laws Of Survival In Thailand:

 

1. Never invest in anything you aren't ready to lose;

2. Never own more than you can carry with you or freely leave behind;

3. Keep your suitcase packed at all times.

 

Experienced, knowledgeable members follow these religiously. Why are you still here, anyway?

 

Now quoting one or more of the Laws entitles you to an extra ten (+10) instant points of TVF posting cred from our peanut gallery, but you blew it. Still, you have time to RUN! NOW! You've been warned!!! Meanwhile I'll continue to enjoy the good life in Pattaya. ????

 

 

Pattaya ?    Well, i truly feel sorry for you.......   Shooting any lower you'll have no toes left.....   Kao jai mei ?  

[SupermarineS6B]

6 hours ago, smylee52 said:

 

4. Never trust a fart .

5) Never pass a toilet without taking a pee..... 

Edited November 23, 2020 by SupermarineS6B

[SupermarineS6B]

14 hours ago, BigStar said:

And that could happen here!!! Have achieved maximum hysteria now? We've had SUCH a good time playing our fave sport.

It's funny last year many "Expats" in Thailand felt nice and secure jumping through all the hoops and congratulating themselves on how wonderful and righteous they where and how everyone else should just go home and leave Thailand to the righteous hoop jumpers........  Strangely you don't hear much from them now......... I wonder why, do you think it's because they're too busy emptying their duds ?      

[SupermarineS6B]

13 hours ago, NeoDinosaw said:

From Cambodia all the round eyes were  trucked out from the French Embassy , where they had been gathered, through to Aranyapathet.. It was slow moving because of  the number of massacred locals blocking the roads.   

100%   You've also left out the fact that those who massacred the population were under Communist Chinese control and strangely enough are still in power in Cambodia today........   Doesn't bode well for Thailand if they carry on kissing Chinas bum......  Pol Pol 2 the sequel, starring in the lead role.......  Cha Cha, cash my cheque.... 

[quake]

12 hours ago, ThailandRyan said:

Yes, the dinosaurs are extinct, either now in museum bone exhibits, excavation locations, tar pits or buried in the oil rich plateus under the earths surface.

Nearly all.

 

 

[SupermarineS6B]

13 hours ago, NeoDinosaw said:

Colonising is a job restricted for Brits !!  (or at least it should be enshrined as such in the UN Charter)

Yeah but remember, the Brits did a good job.......  Not many have come close..... and chop sticks don't count..... 

[nkg]

On 11/22/2020 at 7:43 PM, webfact said:

five juristic entities suspected of using local nominees to illegally help foreigners invest in Thailand this year.

 

 

Oh no! Not foreigners investing their money in Thailand! Anything but that!

 

I wonder how many Chinese foreigners were caught?

 

 

 

 

 

[baansgr]

21 hours ago, Mr Meeseeks said:

Not exactly a loophole, it is 100% illegal according to the land ownership laws. It is almost completely ignored, not sure about tolerated, as the majority don't know it happens.

 

Wait until some pee'd off hi-so starts making a fuss about it then we'll see how tolerated it is once the majority knows loads of foreigners own land through nominee shareholding companies. 

 

Cue the tears and snotters from the expats that sail close to the wind when they do eventually do something about it. 

 

 

I don't think they are worried about the foreigners with 50 or 100 Talang Wah of land and villa....The sabre rattling was going on in 2004 when I first arrived, yet still nowt has happened

[ThailandRyan]

But the good General has ensured more of this will occur by stating this :

“Who can declare a coup d’état or martial law if I do not declare it,” said the prime minister.

So Delusional man at the top will continue to do what he wants and directs.  Unfortunately I see this Government as removing anyone who gets in their way of becoming super rich and being the worlds top Billionaires, thus ensuring that Thailand is the center and hub of the Universe.  More foreign businesses to be taken from the hands of those they believe are not kicking up enough to cover the costs of the elite.

[BigStar]

3 hours ago, SupermarineS6B said:

It's funny last year many "Expats" in Thailand felt nice and secure jumping through all the hoops and congratulating themselves on how wonderful and righteous they where and how everyone else should just go home and leave Thailand to the righteous hoop jumpers........  Strangely you don't hear much from them now......... I wonder why, do you think it's because they're too busy emptying their duds ?      

Merely a convenient fantasy on your part. Retirees who have the resources to stay here know the score and hardly need all the schoolmarmin' and hysteria. Been emanating from our Chicken Littles for decades, either on the forum or in letters to newspaper editors before TVF even existed, same old same old.????

 

You definitely do hear from such retirees who don't find Thailand's requirements particularly onerous--in response to some whinger usually, when the topic arises, for example, in this current topic:

Now the requirements for entering or returning to Thailand are pretty onerous, as they are with so many other countries. But COVID, after all.

[BigStar]

4 hours ago, SupermarineS6B said:

Pattaya ?    Well, i truly feel sorry for you.......   Shooting any lower you'll have no toes left.....   Kao jai mei ?  

Truly wonderful place with something for everyone. Bit overcast over the Bay at the moment. We do hear an awful lot of sour grapes here, however.

  

The Great Seal of Pattaya, Thailand!

[Keesters]

22 hours ago, xylophone said:

I also quoted a friend of mine who lost his villa here because the judge ruled that he had bought it using a Thai lawyer nominee company, so the villa was never legally his in the first place, and it was taken from him.

Interesting. When i discussed this with a retired Thai barrister many years ago he said a judge should rule based on where the money came from. While you may not own the property you own the money. Always keep accurate records of the money flow.

[berrec]

On 11/23/2020 at 6:44 AM, RichardColeman said:

One day Thailand will enter the 21st century - or even the 20th  !

Yep, Thailand 4.0 - 3.5 = Thailand 0.5

[polpott]

6 hours ago, Keesters said:

Interesting. When i discussed this with a retired Thai barrister many years ago he said a judge should rule based on where the money came from. While you may not own the property you own the money. Always keep accurate records of the money flow.

I was told the same by my lawyer when I bought my house. I have a record of all money transfers from the UK which were used to buy my house.

[xylophone]

11 hours ago, Keesters said:

Interesting. When i discussed this with a retired Thai barrister many years ago he said a judge should rule based on where the money came from. While you may not own the property you own the money. Always keep accurate records of the money flow.

As regards "a judge should rule based on where the money came from" runs into a glitch here for the following reason: –

 

If a farang sets up a nominee-type company whereby the Thai owns (on paper at least) 51% of the company, whilst the farang owns 49%, then the Thai shareholders have to show where the money came from which they have invested in this company, and of course they can't do that because they haven't invested any, it's merely a paperwork exercise on behalf of the lawyer or other entity which sets this deal up. In effect a nominee company.

 

So if the money trail was followed by the court/judge it would be found that it all came from the farang and none from the Thai shareholders, proving that the company set up was a sham.

 

This being the case the whole deal could be ruled illegal from the start, and the court has the right to confiscate the property (which happened in the case of a friend of mine) so the farang loses out, and does so by way of the money trail, so there is no foolproof way to get around the law.........if one is investigated.

 

In addition, keeping a record of money transfers only serves to comply with Thai regulations with regards to investment here, and don't forget it's okay to buy a house, provided that the land upon which it sits is bought and owned legally by a Thai using their own funds or from a family landowning.

[bloodyholly]

20 hours ago, Keesters said:

judge should rule based on where the money came from.

Was he talking about the cash used to buy the property, or the cash that was used to buy the legal judgement?

[connda]

All foreigners are bad.  If foreigners weren't allowed into Thailand, then good wholesome Thai people wouldn't be tempted to engage in crime like being nominees.
It's all the fault of foreign scum.  Kick them all out except for the really wealthy.

[A512]

On 11/23/2020 at 6:21 AM, Mr Meeseeks said:

We just had to submit ownership documents for one of my companies (non-BOI) to the DSI and I had to attend an interview. We are completely legal. 

 

During the interview they asked at length about foreign ownership and whether our Thai shareholders were proxies. They are not as they are active members of the board and two of them work for the company. 

what type of questions are that? seems like an accusation.. i would answer find out by yourself, i never help these people even in my own country.