buying villa using a Thai name

[relax33]

Hi

Need some advice
Someone said can buy a villa using a local Thai's name n to make him

a) sign a debtor note indicating that he owes me money to the tune of the villa's value and that the loan was provided for the purchase of the villa and will need to be re-paid if he intends to sell it
b) pre-sign property transfer agreements so that I can sell the villa without his presence in future if desired
c) sign a note stating that all his family members cannot lay claim to the villa if he passes away .
d) the above will be notarized at a lawyer's office

Wonder if this will work   ...

[worgeordie]

Do you like taking risks ?

regards worgeordie

[Peterw42]

What you are describing is a Thai nominee, the very thing the Thai authorities dont like. You can do the company ownership route etc but specifically using a Thai person and proxy ownership to get around the property ownership laws is very much frowned upon. and has been prosecuted in the past.

 

As many do, you can achieve the same by setting a Thai company, you own 49%, Thai company owns the villa, you are the managing director etc. The Thai company route is already pushing the envelope and could be subject to a crackdown in the future, why re-invent the wheel.

[relax33]

On 6/28/2021 at 12:35 PM, Peterw42 said:

What you are describing is a Thai nominee, the very thing the Thai authorities dont like. You can do the company ownership route etc but specifically using a Thai person and proxy ownership to get around the property ownership laws is very much frowned upon. and has been prosecuted in the past.

 

As many do, you can achieve the same by setting a Thai company, you own 49%, Thai company owns the villa, you are the managing director etc. The Thai company route is already pushing the envelope and could be subject to a crackdown in the future, why re-invent the wheel.

Thanks for the input,   am just a noob  starting out ..
Was told that the proxy route could be a more cost free way of doing things but yet see lots of people following the company ownership route ..
So thought its best i ask the savvy folks here , saving money is good  but no point if its too risky ...

[sometimewoodworker]

On 6/30/2021 at 8:56 AM, relax33 said:

Thanks for the input,   am just a noob  starting out ..
Was told that the proxy route could be a more cost free way of doing things but yet see lots of people following the company ownership route ..
So thought its best i ask the savvy folks here , saving money is good  but no point if its too risky ...

Both the proxy and company routes are not compliant with Thai law. Some, but not may, have had the company route challenged and lost the property.
Some, many more, have had the proxy route challenged and lost or had the proxy take the property. 

Don’t put more money at risk than you can walk away from. 

[relax33]

10 hours ago, sometimewoodworker said:

Both the proxy and company routes are not compliant with Thai law. Some, but not may, have had the company route challenged and lost the property.
Some, many more, have had the proxy route challenged and lost or had the proxy take the property. 

Don’t put more money at risk than you can walk away from. 

Thanks, are there ways to make things safer if going the company route ..
Hopefully, can avoid having to buy only condos as those come with their own problems ...

[sometimewoodworker]

39 minutes ago, relax33 said:

Thanks, are there ways to make things safer if going the company route ..

Do not make any enemies, don’t have jealous Thai family. Make friends, but not too close, with the neighbours. 

[jackdd]

21 hours ago, relax33 said:

Thanks, are there ways to make things safer if going the company route ..
Hopefully, can avoid having to buy only condos as those come with their own problems ...

Why do you want to invest into property in Thailand?

[relax33]

On 7/1/2021 at 9:50 PM, sometimewoodworker said:

On 7/1/2021 at 9:10 PM, relax33 said:

Thanks, are there ways to make things safer if going the company route ..

Do not make any enemies, don’t have jealous Thai family. Make friends, but not too close, with the neighbours. 

Thanks, this is golden

[relax33]

17 hours ago, jackdd said:

Why do you want to invest into property in Thailand?

Reckon rental might be my biggest expense when living in TL n that life can be cheap n easy going if i can live rent free as the monthly utilities, grocery n property maintenance bills will not come to much ..

Maintenance bills look relatively high for condos n there is the fear that its condition might deteriorate rapidly if you have residents not paying for maintenance after a while This , together with the issue of noise pollution n poor sound insulation in condos have forced me to consider getting a small villa instead  if its wise to do so

[jackdd]

13 minutes ago, relax33 said:

Reckon rental might be my biggest expense when living in TL n that life can be cheap n easy going if i can live rent free as the monthly utilities, grocery n property maintenance bills will not come to much ..

The way safer way is to invest in property in your home country (or at least some country where you can legally own the property), and use the profit from this to pay your rent in Thailand.

[relax33]

On 7/3/2021 at 12:41 PM, jackdd said:

The way safer way is to invest in property in your home country (or at least some country where you can legally own the property), and use the profit from this to pay your rent in Thailand.

Thanks for the wisdom

[freedomnow]

Rent...and generate enough income off that saved money to pay the rent somewhere nice AND keep up with inflation in the principle amount.