ChipButty Posted June 16, 2023 Share Posted June 16, 2023 Just now, NatureFilm said: In my condo the real FQ is over 70% and many other condos probably over 90%. Will be interesting, when they start to "investigate" the FQ of condos in Thailand Really? How did the land department accept that? I shouldn't ask, we own one condo and from what the office tells me it is well below the 49% as a friend of mine wanted to buy one, Nothing surprises me here, Link to comment Share on other sites More sharing options...
NatureFilm Posted June 16, 2023 Share Posted June 16, 2023 But I think, they won`t target "owning" a ordinary house or condo via a small company, as long yearly accounting is done. Link to comment Share on other sites More sharing options...
jaideedave Posted June 16, 2023 Share Posted June 16, 2023 11 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. As a matter of fact I remember a Canadian couple who bought and paid for a condo years ago when this happened.When they went south to stay at their condo they were not allowed near the place.Total loss and zero recourse. Link to comment Share on other sites More sharing options...
patman30 Posted June 16, 2023 Share Posted June 16, 2023 2 hours ago, BritScot said: Technically an American can (enough to build a nice house on) the big However, is as far as I'm aware no land department in Thailand has ever granted a grain of Thai soil to an American. Correct, this was some old rule since vietnam war iirc as US built the airports here. was limited to 1 rai. Link to comment Share on other sites More sharing options...
ChipButty Posted June 16, 2023 Share Posted June 16, 2023 19 minutes ago, NatureFilm said: But I think, they won`t target "owning" a ordinary house or condo via a small company, as long yearly accounting is done. If they did they could have every house in my soi, almost, 1 Link to comment Share on other sites More sharing options...
SiSePuede419 Posted June 16, 2023 Share Posted June 16, 2023 (edited) 14 hours ago, webfact said: 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. The paperwork sounds horrible if it took 40 staffers to register only 100 companies in 15 years! ???? Edited June 16, 2023 by SiSePuede419 1 1 Link to comment Share on other sites More sharing options...
lesmac Posted June 16, 2023 Share Posted June 16, 2023 13 hours ago, Bim Smith said: Those poor people who get duped into believing they can own property in Thailand. You can't. You can own property in Thailand but not the land it is built on Link to comment Share on other sites More sharing options...
phetphet Posted June 16, 2023 Share Posted June 16, 2023 So what will happen to all this illegally bought or built property? Does this mean the DSI and their friends are likely to get first dibs on some cheap villas? 1 Link to comment Share on other sites More sharing options...
stevenl Posted June 16, 2023 Share Posted June 16, 2023 They also do normal accounting services. I know because I am their client. My work permit comes up at the end of August, extension of stay in November. So I still have some time. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 15 hours ago, ukrules said: 16 hours ago, webfact said: Of those, 44 companies are involved with land which have cost about 100 million baht of damages. Damages? What was damaged? It was clearly a reference to the value of land being put under the control of foreigners, illegally, thus Thailand is the damaged party. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 14 hours ago, Bim Smith said: Those poor people who get duped into believing they can own property in Thailand. You can't. "Those poor people who get duped..." Those "poor people" who insist on promulgating false information. Foreigners can own property in Thailand, they cannot own land (apart from some exceptions that do not apply to most foreigners). Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 14 hours ago, ChipButty said: 14 hours ago, Davedub said: What is the FQ? Foreign Quota There isn't a foreign quota for land which is what the OP is about. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 (edited) 12 hours ago, ChipButty said: what goes on its not big secret, so now what they going to do about it? start arresting the Farang? It's not beyond the realms of possibility to arrest those foreigners committing offences in this manner. Their illegally obtained land could be confiscated also. Edited June 16, 2023 by Liverpool Lou 2 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 12 hours ago, ChipButty said: Dont pi$$ the Farang off to much this news will travel fast Why not? So what? Link to comment Share on other sites More sharing options...
Popular Post Liverpool Lou Posted June 16, 2023 Popular Post Share Posted June 16, 2023 11 hours 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 cares? They knew what they were doing and, presumably, they'll now have to abide by the law that they were deliberately circumnavigating...maybe they'll lose their illegal property. 1 1 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 10 hours ago, biggles45 said: If the foreigner dies, are the Thai shareholders entitled to 51% of the sale price Depends on what happens regarding the inheritance of the foreigners share, in a legal deal (which these in question are not) the property may not necessarily be put up for sale. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 16, 2023 Share Posted June 16, 2023 10 hours ago, ChipButty said: 10 hours ago, BenStark said: Please point us to the listings for houses in the foreign quota. Thanks That rule only applies to condo projects, upto 49% foreign quota Hence his (sarcastic) question. Link to comment Share on other sites More sharing options...
ukrules Posted June 16, 2023 Share Posted June 16, 2023 33 minutes ago, Liverpool Lou said: It was clearly a reference to the value of land being put under the control of foreigners, illegally, thus Thailand is the damaged party. Yes, I know - and it's complete nonsense, isn't it? Link to comment Share on other sites More sharing options...
NORDO Posted June 16, 2023 Share Posted June 16, 2023 Im thinking someone was not getting there share of the "payoff" and got pissed off. 1 1 Link to comment Share on other sites More sharing options...
Gknrd Posted June 16, 2023 Share Posted June 16, 2023 (edited) LOL, this going on as the Youtube punters are advertising new high end homes aimed at the foreign retirees. Lawyers buying advertising spots on the internet and putting up Youtube talks of buying property in Thailand. Just another example of corruption and illegal activity going on, that targets the foreigners. Edited June 16, 2023 by Gknrd 1 1 Link to comment Share on other sites More sharing options...
Seeall Posted June 16, 2023 Share Posted June 16, 2023 11 hours ago, wensiensheng said: The reporting makes things very unclear. As I understand it the thai nominees are in trouble because they helped circumvent property ownership laws. I don’t understand the reference to evading property tax by buying and selling company shares instead of the land itself. Sure, property tax is avoided by doing that, share stamp duty is paid instead, but it’s not illegal. Unless of course it is done via nominees and all in the pursuit of evading property ownership laws. I see reference in posts to FQ. That of course only apply a to condos. There is no FQ for landed properties and the article does not indicate whether it is landed or condo property involved. anyway, a big fuss because something got too big to be ignored, then it will be back to normal again All seem to be doing their jobs.. Link to comment Share on other sites More sharing options...
Bim Smith Posted June 16, 2023 Share Posted June 16, 2023 8 hours ago, Liverpool Lou said: "Those poor people who get duped..." Those "poor people" who insist on promulgating false information. Foreigners can own property in Thailand, they cannot own land (apart from some exceptions that do not apply to most foreigners). Why would anyone build a property on the land they can't own. 1 Link to comment Share on other sites More sharing options...
stevenl Posted June 16, 2023 Share Posted June 16, 2023 1 hour ago, Bim Smith said: Why would anyone build a property on the land they can't own. Just look around. Many buildings on leased land. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted June 17, 2023 Share Posted June 17, 2023 3 hours ago, Bim Smith said: 12 hours ago, Liverpool Lou said: "Those poor people who get duped..." Those "poor people" who insist on promulgating false information. Foreigners can own property in Thailand, they cannot own land (apart from some exceptions that do not apply to most foreigners). Why would anyone build a property on the land they can't own. Ask them, not me but it is a legal option that is open to foreigners. Link to comment Share on other sites More sharing options...
paddypower Posted June 17, 2023 Share Posted June 17, 2023 On 6/16/2023 at 5:21 AM, MrJ2U said: Lovely. No love lost then. Send them back to purgotory. 555 Great post. Link to comment Share on other sites More sharing options...
paddypower Posted June 17, 2023 Share Posted June 17, 2023 16 hours ago, ChipButty said: Really? How did the land department accept that? I shouldn't ask, we own one condo and from what the office tells me it is well below the 49% as a friend of mine wanted to buy one, Nothing surprises me here, simple. its marked on the Chanoet, as to whether it is freehold to foreiegners (49%). if it isnt then anyone who bought without that protection is deaf, dumb and blind ???? Link to comment Share on other sites More sharing options...
paddypower Posted June 17, 2023 Share Posted June 17, 2023 On 6/16/2023 at 3:34 AM, ukrules said: 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? Not sure what they mean about tax - the land tax has to get paid, upon registration, even if the ''owner'' is a Thai national. The bigger issue is income tax avoided by all these companies - it is payable every year. There's gonna be some unhappy Russians., not to mention the Brit who facilitated 15 years of scemeing. Link to comment Share on other sites More sharing options...
Seeall Posted June 17, 2023 Share Posted June 17, 2023 18 hours ago, NatureFilm said: But I think, they won`t target "owning" a ordinary house or condo via a small company, as long yearly accounting is done. why would you say that? the law is the law.. or do you think the big fish will keep them busy? 1 Link to comment Share on other sites More sharing options...
paddypower Posted June 17, 2023 Share Posted June 17, 2023 16 minutes ago, Seeall said: why would you say that? the law is the law.. or do you think the big fish will keep them busy? I believe that they will coordinate with the CBD and the tax dept. its not a matter that 'the accounting' gets done. I lease ''my'' land and house from a Thai company. I pay rent and the company pays tax on that income. Guess how many of these scams go through that process? and no, my accountant's staff do not act as nominees. 1 1 Link to comment Share on other sites More sharing options...
Destiny1990 Posted June 17, 2023 Share Posted June 17, 2023 On 6/16/2023 at 9:08 AM, ChipButty said: Who will own the land? They can sell it to a local for very low price with the clause of getting a poorly 30 years lease inreturn Link to comment Share on other sites More sharing options...
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