Popular Post webfact Posted June 15, 2023 Popular Post Share Posted June 15, 2023 Phuket – The Department of Special Investigation (DSI) raided an accounting and law company in Chalong for allegedly being an illegal network nominee for foreigners with a hundred million baht of total damages. The raid on Thursday afternoon (June 15th) at the company was led by Major Suriya Singhakamon, the DSI director general. Staffers were working as normal while servicing foreign customers who wanted to set up companies. They were all asked to stop working while DSI officers were collecting evidence. Major Suriya told the Phuket Express “The owner of this company is a Thai woman who has a British husband. The raid followed us having found that the company is allegedly being serviced by foreigners to set up companies as nominees. This accounting company has about 40 staffers and the company has been operating for more than 15 years.” “There are about 100 companies which have been registered by foreigners with this company. Of those, 44 companies are involved with land which have cost about 100 million baht of damages. Most of their customers are Russians. By Goongnang Suksawat Full story: https://thephuketexpress.com/2023/06/15/dsi-raids-accounting-and-law-firm-in-phuket-allegedly-being-illegal-nominee-for-foreigners/ -- © Copyright The Phuket Express 2023-06-16 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information. 1 1 3 7 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted June 15, 2023 Popular Post Share Posted June 15, 2023 (edited) 26 minutes ago, webfact said: Of those, 44 companies are involved with land which have cost about 100 million baht of damages. Damages? What was damaged? Sounds like they're making stuff up to me. The article is complete nonsense if they're talking about tax, how does a Thai owned company do this when the company changes ownership? Edited June 15, 2023 by ukrules 7 1 2 3 1 1 Link to comment Share on other sites More sharing options...
Popular Post harleyclarkey Posted June 15, 2023 Popular Post Share Posted June 15, 2023 Well now, there are s get property owners having the shakes and sweats? The DSI could raid any law firm in Phuket and find serious irregularities. There actually is no law on Phuket....just gauging the price and value of any undertaking to stick in the back pocket. 9 1 1 4 Link to comment Share on other sites More sharing options...
Popular Post geisha Posted June 15, 2023 Popular Post Share Posted June 15, 2023 Maybe damage to forest or beach land ? Not sure, but I saw many newly built villas on Phuket , mostly on hillside near the sea. I was told by a friend who lives in Kata that they were mostly Russian owned. Same has happened in Bali . 7 Link to comment Share on other sites More sharing options...
Aviatorhi Posted June 15, 2023 Share Posted June 15, 2023 Buy in the FQ and avoid the gray area - so simple, so easy. 1 Link to comment Share on other sites More sharing options...
Popular Post Bim Smith Posted June 15, 2023 Popular Post Share Posted June 15, 2023 Those poor people who get duped into believing they can own property in Thailand. You can't. 6 1 6 5 Link to comment Share on other sites More sharing options...
Popular Post Davedub Posted June 15, 2023 Popular Post Share Posted June 15, 2023 6 minutes ago, Aviatorhi said: Buy in the FQ and avoid the gray area - so simple, so easy. What is the FQ? 2 1 Link to comment Share on other sites More sharing options...
ChipButty Posted June 15, 2023 Share Posted June 15, 2023 13 minutes ago, Davedub said: What is the FQ? Foreign Quota 1 1 Link to comment Share on other sites More sharing options...
Popular Post riverhigh Posted June 15, 2023 Popular Post Share Posted June 15, 2023 (edited) From the original article: “Foreigners are real company owners with Thai people as shareholders. Buying lands via nominee companies are not real businesses because by law they have to pay for tax and other fees, about 10 percent for each time of purchase. Foreigners buy lands via changing shareholders to avoid tax and Thai law around owning land. The future problem is, lands will finally belong to foreigners, which is strictly against the law in Thailand and what sparked this raid.” Major Suriya told the Phuket Express. I have no sympathy for people, in this case foreigners, who knowingly are circumventing the laws. There are no innocents. Friends and acquatances of mine who own houses through a corporation know exactly what they are doing is illegal. Their deep down beleif is that there is safety in numbers and the Thai government will never go after them because of the damage it would cause the Thai economy. Edited June 15, 2023 by riverhigh Font size 3 2 2 Link to comment Share on other sites More sharing options...
Popular Post ChipButty Posted June 15, 2023 Popular Post Share Posted June 15, 2023 I reckon they could raid every Law office on the island and find plenty of dodge deals 6 5 1 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted June 15, 2023 Popular Post Share Posted June 15, 2023 From the link: Major Suriya told the Phuket Express “The owner of this company is a Thai woman who has a British husband. The raid followed us having found that the company is allegedly being serviced by foreigners to set up companies as nominees. This accounting company has about 40 staffers and the company has been operating for more than 15 years.” On the ball then? 3 9 Link to comment Share on other sites More sharing options...
Popular Post jcmj Posted June 15, 2023 Popular Post Share Posted June 15, 2023 And just one more reason Thailand is not a suitable place to push for retirees. This rears its head every few years then goes away, but you never know when they might go full force. However, don’t be fooled that buying in FQ is 100 safe. If the government doesn’t want foreigners to own property they can revoke that as well. And if you don’t believe me look what happened in Mexico many years ago. They took everything back. Sure hope they wouldn’t go that far, but this is Thailand and they do what they want when they want. 7 1 4 Link to comment Share on other sites More sharing options...
Popular Post ChipButty Posted June 15, 2023 Popular Post Share Posted June 15, 2023 Must have been doing some business to have 40 staff, 2 1 3 Link to comment Share on other sites More sharing options...
Popular Post MrJ2U Posted June 15, 2023 Popular Post Share Posted June 15, 2023 (edited) 2 hours ago, webfact said: Most of their customers are Russians. Lovely. No love lost then. Send them back to purgotory. Edited June 15, 2023 by MrJ2U 1 1 1 2 3 Link to comment Share on other sites More sharing options...
Popular Post Gknrd Posted June 15, 2023 Popular Post Share Posted June 15, 2023 (edited) Lots of home owners in Puckett are going to be on pins and needles. Such a great place to retiree.. Edited June 15, 2023 by Gknrd 2 6 Link to comment Share on other sites More sharing options...
findlay13 Posted June 15, 2023 Share Posted June 15, 2023 2 hours ago, Aviatorhi said: Buy in the FQ and avoid the gray area - so simple, so easy. Buy in the Far Queue ????? Link to comment Share on other sites More sharing options...
sammieuk1 Posted June 15, 2023 Share Posted June 15, 2023 Most of their customers are Russians ???? 1 Link to comment Share on other sites More sharing options...
moe666 Posted June 16, 2023 Share Posted June 16, 2023 2 hours ago, geisha said: Maybe damage to forest or beach land ? Not sure, but I saw many newly built villas on Phuket , mostly on hillside near the sea. I was told by a friend who lives in Kata that they were mostly Russian owned. Same has happened in Bali . The damages would be illigal ownership of land 1 Link to comment Share on other sites More sharing options...
ChipButty Posted June 16, 2023 Share Posted June 16, 2023 We all know what goes on its not big secret, so now what they going to do about it? start arresting the Farang? Dont pi$$ the Farang off to much this news will travel fast especially around the Russian community, 1 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post crazykopite Posted June 16, 2023 Popular Post Share Posted June 16, 2023 Brown Envelopes???? 3 1 Link to comment Share on other sites More sharing options...
Popular Post crazykopite Posted June 16, 2023 Popular Post Share Posted June 16, 2023 2 hours ago, jcmj said: And just one more reason Thailand is not a suitable place to push for retirees. This rears its head every few years then goes away, but you never know when they might go full force. However, don’t be fooled that buying in FQ is 100 safe. If the government doesn’t want foreigners to own property they can revoke that as well. And if you don’t believe me look what happened in Mexico many years ago. They took everything back. Sure hope they wouldn’t go that far, but this is Thailand and they do what they want when they want. I’ve had a good 18 happy years here purchased and sold property in that time so much so I was able to build my beach home. Yes it’s high stakes but when I came here I was prepared to lose the capitol I had brought over I knew and fully understood the consequences and risks I was undertaking there is absolutely no way could I ever had such a property in Europe . If I lost it tomorrow I would shed a tear but I wouldn’t be destitute and I would take with me 18 wonderful years of living in Thailand my next destination would be the Philippines where my U.K. pension would no longer be frozen and would give me an extra 2,000 baht a week . Life’s a gamble some you win some you lose but as my dad taught me never keep,all your eggs in the same basket !!!! 4 1 4 Link to comment Share on other sites More sharing options...
Destiny1990 Posted June 16, 2023 Share Posted June 16, 2023 So now-they have to change their company owned land and house into an ordinary poorly 30 years lease hold or ? 1 1 Link to comment Share on other sites More sharing options...
Popular Post Reigntax Posted June 16, 2023 Popular Post Share Posted June 16, 2023 Maybe damage to the faces of DSI that it has been operating under their nose for 15 years whereas every other man and his dog has known this has been occurring since Thailand was ruled by the dinosaurs. That’s about the time since the British decided it wasn’t worth colonising as it wasn’t worth the effort 2 2 Link to comment Share on other sites More sharing options...
ChipButty Posted June 16, 2023 Share Posted June 16, 2023 12 minutes ago, Destiny1990 said: So now-they have to change their company owned land and house into an ordinary poorly 30 years lease hold or ? Who will own the land? 1 Link to comment Share on other sites More sharing options...
ChipButty Posted June 16, 2023 Share Posted June 16, 2023 2 minutes ago, Reigntax said: Maybe damage to the faces of DSI that it has been operating under their nose for 15 years whereas every other man and his dog has known this has been occurring since Thailand was ruled by the dinosaurs. That’s about the time since the British decided it wasn’t worth colonising as it wasn’t worth the effort More than 15 years that I know of Link to comment Share on other sites More sharing options...
kingstonkid Posted June 16, 2023 Share Posted June 16, 2023 3 hours ago, riverhigh said: From the original article: “Foreigners are real company owners with Thai people as shareholders. Buying lands via nominee companies are not real businesses because by law they have to pay for tax and other fees, about 10 percent for each time of purchase. Foreigners buy lands via changing shareholders to avoid tax and Thai law around owning land. The future problem is, lands will finally belong to foreigners, which is strictly against the law in Thailand and what sparked this raid.” Major Suriya told the Phuket Express. I have no sympathy for people, in this case foreigners, who knowingly are circumventing the laws. There are no innocents. Friends and acquatances of mine who own houses through a corporation know exactly what they are doing is illegal. Their deep down beleif is that there is safety in numbers and the Thai government will never go after them because of the damage it would cause the Thai economy. But just to clarify. I take it ass u me that the Thai shareholders are members of the staff or friends of the accounting firm. If that is the case could they not eventually take over the properties as they would have the majority of the shares. The bigger issue is how much is this going to screw things up in the future for others that want to start a real business Link to comment Share on other sites More sharing options...
Smokey and the Bandit Posted June 16, 2023 Share Posted June 16, 2023 3 hours ago, Bim Smith said: Those poor people who get duped into believing they can own property in Thailand. You can't. Do you mean those 'poor foreign people' ? If so you are spot on! 2 Link to comment Share on other sites More sharing options...
Popular Post brianthainess Posted June 16, 2023 Popular Post Share Posted June 16, 2023 It seems they have run out of overstayers, now this, what next? Agents? foreigners with not enough money in the bank? They seek 'em there they seek 'em here, they seek Falang everywhere. is this heaven? or is this hell? that dammed elusive ...........only time will tell. 2 2 5 Link to comment Share on other sites More sharing options...
bignok Posted June 16, 2023 Share Posted June 16, 2023 2 hours ago, Gknrd said: Lots of home owners in Puckett are going to be on pins and needles. Such a great place to retiree.. Phuket is a nice place to visit. 2 Link to comment Share on other sites More sharing options...
bignok Posted June 16, 2023 Share Posted June 16, 2023 1 hour ago, crazykopite said: I’ve had a good 18 happy years here purchased and sold property in that time so much so I was able to build my beach home. Yes it’s high stakes but when I came here I was prepared to lose the capitol I had brought over I knew and fully understood the consequences and risks I was undertaking there is absolutely no way could I ever had such a property in Europe . If I lost it tomorrow I would shed a tear but I wouldn’t be destitute and I would take with me 18 wonderful years of living in Thailand my next destination would be the Philippines where my U.K. pension would no longer be frozen and would give me an extra 2,000 baht a week . Life’s a gamble some you win some you lose but as my dad taught me never keep,all your eggs in the same basket !!!! Id be happy with the Apple basket only Link to comment Share on other sites More sharing options...
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