Mr Meeseeks Posted June 17, 2023 Share Posted June 17, 2023 Squeeky bum time for foreigners with house and land in company name in Phuket. 1 Link to comment Share on other sites More sharing options...
Aviatorhi Posted June 17, 2023 Share Posted June 17, 2023 On 6/16/2023 at 9:26 AM, BenStark said: Please point us to the listings for houses in the foreign quota. Thanks If you need it explained to you that only condos exist in the FQ then you shouldn't be buying anything at all. Link to comment Share on other sites More sharing options...
chalawaan Posted June 17, 2023 Share Posted June 17, 2023 I wonder if this was one of the schemes for long-term stays without the usual tiresome visa extensions another poster alluded to, without elaboration, in another recent thread? If so, that's the end of that, then. Link to comment Share on other sites More sharing options...
KhaoYai Posted June 17, 2023 Share Posted June 17, 2023 (edited) On 6/15/2023 at 10:36 PM, Bim Smith said: Those poor people who get duped into believing they can own property in Thailand. You can't. You can, you can own a foreign quota condo. I think you mean that they can't own land. Foreigners can't own land but many think they can by setting up a Thai company which owns the land. Whilst, its true that such a company can own land and that the foreign shareholding can be set up in a way that allows those shareholders to control the company - that company should, as I'm sure you know be real. It should be trading, and file accounts each year. If as I guess most have, the company doesn't actually trade but its accountants make it appear that it does by submitting fake annual accounts and paying a little tax that is certainly illegal. The Thai land laws state that any circumvention of the Thai land laws in order to obtain ownership is illegal. I believe that should an investigation reveal that the sole purpose of setting up a company was such a circumvention of those laws, forfeiture of the property may follow. I also believe that a court may consider that the Thai company should have a reason to own the land. I think there may be a few worried people in Phuket at the moment.???? Edited June 17, 2023 by KhaoYai 2 Link to comment Share on other sites More sharing options...
Gknrd Posted June 18, 2023 Share Posted June 18, 2023 (edited) On 6/16/2023 at 6:03 PM, stevenl said: Just look around. Many buildings on leased land. I knew a guy in KK that did a land lease. Not sure the details but when his wife and he separated. They harassed him day and night. Trashed his house when he was gone. When he would come home they would shout and throw rocks at his car. Police did nothing. He finally just abandoned the place. Lost everything. He knew what was going on. He did strip the house and did as much damage as he could but it didn't matter. He still lost a hundred thousand or more. He was afraid for his life. Edited June 18, 2023 by Gknrd Link to comment Share on other sites More sharing options...
digbeth Posted June 18, 2023 Share Posted June 18, 2023 On 6/17/2023 at 2:25 PM, Aviatorhi said: If you need it explained to you that only condos exist in the FQ then you shouldn't be buying anything at all. Technically you can have a condo title house for projects that has significant shared property like detached house (usually home office building) that may be connected to a central pool or above an underground car park, Maybe they can stretch the definition to houses on golf course where the clubhouse and course is considered 'common area' 1 Link to comment Share on other sites More sharing options...
Aviatorhi Posted July 6, 2023 Share Posted July 6, 2023 On 6/18/2023 at 9:26 PM, digbeth said: Technically you can have a condo title house for projects that has significant shared property like detached house (usually home office building) that may be connected to a central pool or above an underground car park, Maybe they can stretch the definition to houses on golf course where the clubhouse and course is considered 'common area' That would be nice but I'm not aware of any projects like this. It's common in other countries with Thai style ownership restrictions. Link to comment Share on other sites More sharing options...
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