Buying Thai Quota condo using a company name.

[YorkshireTyke]

Hi all

 

As the title says there is a condo unit for sale but the foreign quota is full.

 

Can I buy it in my company name the same as I have with my house?

 

What would be any complications?

 

I won't be living in it, either rent it out or stay the occasional weekend.

 

This condo is in a building I've always thought the best deal in the area and the Thai wants a quick sale, it's around 1 million cheaper than the foreign quota ones currently for sale.

 

Anyone done this suucessfully or been warned not to buy?

 

Thanks.

[scubascuba3]

Monthly accounting fees plus tax implication if you sell it out of company, best avoided, plus illegal anyway

[YorkshireTyke]

2 minutes ago, scubascuba3 said:

Monthly accounting fees plus tax implication if you sell it out of company, best avoided, plus illegal anyway

I pay monthly accounting fees already.

[scubascuba3]

1 minute ago, YorkshireTyke said:

I pay monthly accounting fees already.

the tax implication doesn't put you off? or it being illegal?

[YorkshireTyke]

2 minutes ago, scubascuba3 said:

the tax implication doesn't put you off? or it being illegal?

 

I'm not aware of the tax implications, can you expand? One idea is too gift it to my son in the future, just change ownership to him, Thai.

 

Is it any different legally to buying a house/land as I already have and many others?

[scubascuba3]

Just now, YorkshireTyke said:

 

I'm not aware of the tax implications, can you expand? One idea is too gift it to my son in the future, just change ownership to him, Thai.

 

Is it any different legally to buying a house/land as I already have and many others?

It's illegal to have proxy thai shareholders and most seem to have that, a matter of time that authorities will close the net.

 

You'll pay tax when you close the company, will take account of the yearly written down cost of the property