Probe finds 5 suspected local-nominee business services for foreigners

[Keesters]

2 hours ago, Mr Meeseeks said:

Our governments and authorities don't have the minerals to implement reciprocal laws.

 

Totally spineless and inept.

 

The Thais are laughing! Well off Thais can do pretty much anything they want in Britain.

It is not for countries other than Thailand to change their laws so that Thais can't do in those countries what foreigners can't do here. That would be against the free enterprise, non racist, non protectionist, non discriminatory nature and spirit of those countries lowering themselves to Thai standards. If Thailand feels I.E. foreign ownership of land wrong then it should be wrong for Thais to own land in a foreign country under Thai law. All foreign land owned by Thais should be confiscated by the Thai government and given to the governments of where the land is. 

[Roy A F]

2 hours ago, ChipButty said:

I wonder how many farang think they have bought property on a 30+30+30 lease? It was all the fashion some years ago down here in Phuket

 

[Roy A F]

Many did and probably still do, get this type of lease, its not completely legal, or illegal. You get a 30 year lease, but with an option to pay and renew twice, if you lived that long. Also the property could be sold as a freehold to a Thai national, as one cold get the local Or Bor Tor to change the deed for a price. The main problem with that 30+30 +30 lease is, if the lease is in one's name and then that person dies, his inheritors cannot claim the property, as leases cannot be inherited, they revert to the original owner. So if you are in this position of a individual lease holder, get the lease changed into multiple names just in case of ones demise.

[Bangkok Barry]

Can't have foreigners investing in Thailand, can we. Who knows what it might lead to? Efficiency, perhaps, a world view on how to do business? International standards. Whoa.

[xylophone]

1 hour ago, Bluedan said:

Not only is it illegal to use nominees to run a Thai company for business purposes, it is also illegal for aliens (yes thats what we are) to own land ...whatever the scheme whether by way of company with nominees or possibly also buying in a Thai nationals name or 30 plus plus leases all of which are designed to circumvent the spirit of the law and therefore a court could make any such scheme null and void.

Thanks. I discussed the same situation on the property thread in Phuket a few years ago and you would be surprised how many posters attacked my stance about the legality of such enterprises.

 

There were some truly ingenious methods used by one or two investors to convince themselves that what they were doing was legal, and although I quoted Thai law as it stood, they were convinced they were right.

 

I tried to put over to them that which you portray very well in your last sentence/para, namely: – "whatever the scheme whether by way of company with nominees or possibly also buying in a Thai nationals name or 30 plus plus leases all of which are designed to circumvent the spirit of the law and therefore a court could make any such scheme null and void".

 

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.

 

Thanks for putting this into perspective and I hope prospective investors will take note of what you have said.

[Mr Meeseeks]

7 minutes ago, Roy A F said:

Many did and probably still do, get this type of lease, its not completely legal, or illegal. You get a 30 year lease, but with an option to pay and renew twice, if you lived that long. Also the property could be sold as a freehold to a Thai national, as one cold get the local Or Bor Tor to change the deed for a price. The main problem with that 30+30 +30 lease is, if the lease is in one's name and then that person dies, his inheritors cannot claim the property, as leases cannot be inherited, they revert to the original owner. So if you are in this position of a individual lease holder, get the lease changed into multiple names just in case of ones demise.

I thought it was ruled illegal in a court case in Samui not so long ago, which has set the precedent?

[Nanaplaza666]

I thought they wanted foreigners to invest here , even promising to give them long term visas. Geuss those five bumped into some thai business owners proudness and some thai business owners went out of business while these farang businesess still going on .  Must be some jealous thai business owners that complained . 

[tomazbodner]

Going to be interesting to see what happens with all these houses foreigners own over their companies that only exist on paper, registered with photocopies of Thai ID cards acquired for 1000 baht a pop...

[Andrew65]

21 minutes ago, BigStar said:

Yeah, all same same. Them Asians. One reason USA is doing so badly, too many are at least part ethnic Brits anyway.

Exactly????

Same thing, different continent.

 

[Rimmer]

Off topic, argumentative and baiting posts removed

[xylophone]

34 minutes ago, Mr Meeseeks said:

I thought it was ruled illegal in a court case in Samui not so long ago, which has set the precedent?

I thought so too, and I also remember seeing a ruling whereby it stated that 30+30+30 year leases were illegal and indeed if any had been signed, then the whole lease process was deemed illegal, so whomsoever bought on this pretext would lose whatever they thought they had bought!

 

Not a nice feeling to lose everything that you have invested your money in, and suffice it to say that a lot of property agents were advocating these types of leases in order to sell a property and get round the 30 year lease term.

Edited November 23, 2020 by xylophone

[polpott]

1 hour ago, Traubert said:

So either  Chinese or Thai? They cant be both?

Quite definitely both. Thai by birth, Chinese by ethnicity. Retain much of their former culture. Burial, food, and allegance to the motherland. You could liken them to non Israeli Jews.

[Bluedan]

2 hours ago, Andrew65 said:

...and your wife can't be a nominee either!?????

there two questions here

can she be and you have no problems ...yes

is it possible that in the future they will apply the  letter of the law and this becomes a problem....theoretically yes ...about the same chance of them completely stopping people driving a motorbike on the wrong side of the road ???? ...very remote chance  indeed

Edited November 23, 2020 by Bluedan

[Bluedan]

1 hour ago, xylophone said:

Thanks. I discussed the same situation on the property thread in Phuket a few years ago and you would be surprised how many posters attacked my stance about the legality of such enterprises.

 

There were some truly ingenious methods used by one or two investors to convince themselves that what they were doing was legal, and although I quoted Thai law as it stood, they were convinced they were right.

 

I tried to put over to them that which you portray very well in your last sentence/para, namely: – "whatever the scheme whether by way of company with nominees or possibly also buying in a Thai nationals name or 30 plus plus leases all of which are designed to circumvent the spirit of the law and therefore a court could make any such scheme null and void".

 

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.

 

Thanks for putting this into perspective and I hope prospective investors will take note of what you have said.

I had the same issue and assumed I would get the same backlash here

people have trouble distinguishing between "legal" and "allowed" 

for example its illegal to drive a motorbike on the wrong side of the road

however does anyone know of someone who was arrested or booked for doing so? 12 years here and I'm yet to see or be aware of even a single case

the clear intention of the property law is to prevent foreigners from owning land so any scheme designed to circumvent that could be found illegal by a court as your friend so unfortunately found

[Bluedan]

32 minutes ago, xylophone said:

I thought so too, and I also remember seeing a ruling whereby it stated that 30+30+30 year leases were illegal and indeed if any had been signed, then the whole lease process was deemed illegal, so whomsoever bought on this pretext would lose whatever they thought they had bought!

 

Not a nice feeling to lose everything that you have invested your money in, and suffice it to say that a lot of property agents were advocating these types of leases in order to sell a property and get round the 30 year lease term.

when I worked as a property lawyer here I remember the 2 x 30 year extensions were never registered with the original lease....I smelled a rat then

[Traubert]

34 minutes ago, polpott said:

Quite definitely both. Thai by birth, Chinese by ethnicity. Retain much of their former culture. Burial, food, and allegance to the motherland. You could liken them to non Israeli Jews.

How many do you know personally?

[DekDaeng]

But this has been the standard here since Ayuthaya was the capital. How can a newbie ferlang be responsible if he goes to an accountant who offers to do it for him or her, inc being nom him or herself?

Hub of ....................

 

How about an amnesty? Tell all ferlang sell, ga ban lao!

 

[polpott]

3 minutes ago, Traubert said:

How many do you know personally?

My wife was married to a Thai Chin for 18 years. I've met him and several members of his family.

[Traubert]

7 minutes ago, polpott said:

My wife was married to a Thai Chin for 18 years. I've met him and several members of his family.

Was?

[polpott]

9 minutes ago, Traubert said:

Was?

Yes was.

[SupermarineS6B]

Who didn't see that one coming ?   Nice way to steal a bit more off the farang, then it'll be all people with bank accounts must prove they have a work permit to have an account....... Confiscation !     Those with a house and land under a false business not paying tax....... Confiscation !     Are you getting the picture ?   

[tomauasia]

All Chinese 

[Mike k]

38 minutes ago, SupermarineS6B said:

Who didn't see that one coming ?   Nice way to steal a bit more off the farang, then it'll be all people with bank accounts must prove they have a work permit to have an account....... Confiscation !     Those with a house and land under a false business not paying tax....... Confiscation !     Are you getting the picture ?   

When I first moved here I was asked why I didn't move all my money over here one of the reasons was if things went bad they could only confiscate the 800000 

[BigStar]

51 minutes ago, SupermarineS6B said:

Who didn't see that one coming ?   Nice way to steal a bit more off the farang, then it'll be all people with bank accounts must prove they have a work permit to have an account....... Confiscation !     Those with a house and land under a false business not paying tax....... Confiscation !     Are you getting the picture ?   

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. ????

 

 

Edited November 23, 2020 by BigStar

[BigStar]

1 hour ago, polpott said:

allegance to the motherland

No. Allegiance to money & family here. Normally, we know this. 

[Mr Meeseeks]

7 minutes 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.

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

[BigStar]

Just now, Mr Meeseeks said:

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

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

[VBF]

1 hour ago, Bluedan said:

when I worked as a property lawyer here I remember the 2 x 30 year extensions were never registered with the original lease....I smelled a rat then

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...... ????

[NeoDinosaw]

8 hours ago, Colabamumbai said:

Dinosaurs don't want money invested here. 

STOP blaming Dinosaurs for everything that goes wrong !!

[NeoDinosaw]

4 hours ago, Andrew65 said:

Some are fully, not mentioning any names.

 

After saying that, us Anglos went all over the world colonising, why shouldn't the Chinese?!

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