Story reported in Hua Hin Today.

Thirteen foreign nationals have been arrested in Hua Hin as police step up the crackdown on people suspected of using nominees to circumvent Thailand’s laws on land ownership.

...

Police said some foreign suspects told investigators they had been advised by law firms and accounting firms to establish companies to hold property in Thailand and believed the arrangements were lawful.

https://huahintoday.com/hua-hin-news/hua-hin-nominee-crackdown-sees-13-foreigners-arrested/

They told me it was legal ...

43 minutes ago, KhunLA said:

They told me it was legal ...

Finding humor in the misfortunes of others says more about you than them, buddy.

22 minutes ago, TimBKK said:

Finding humor in the misfortunes of others says more about you than them, buddy.

I find humor, in they think Thais are so stupid, they'll believe, 'they told me it was legal'.

All you do is embarrass yourselft more for knowingly doing something illegal, and never expecting to get caught. oops

Yes, it is legal, IF, you are setting up a real company, and plan on actually engaging in some type of business. You set up a company, with no intent to do anything, but buy property. How is it possible to not know that is illegal.

Pretending to be stupid, don't get you out of doing something stupid.

Some person at the crosswalk, cars stops to let them cross the street, a scooter passes car and hits them ... that's misfortunate. Getting caught committing a crime is not, that's justice.

Live with your choices.

12 hours ago, KhunLA said:

They told me it was legal ...

Which one of the 45 foreign nationals implicated was aware of the illegality? Your arrogant response to be called out on your mockery of the victims, and yes some of them are victims, is full of assumptions.

Many of the named foreigners are elderly and relied on Thai legal counsel. Others were not particularly well educated or experienced in real estate. Some thought they were smarter than everyone else. And some of them probably made a mistake in using a lawyer suggested by the real estate agent, but these are people who for the most part thought that if they used Thai professionals they would have the purchases set up and registered correctly. It is reasonable to conclude that the real estate agents and the developers who sold the villas all had some knowledge of what was going on.

Thai nationals are at the center of this mess. They were able to operate with the tacit assistance of local government who allowed the registration of the companies and the land sales on the deceptive format. The endemic corruption is a significant factor in this affair.

You can laugh at all of the foreigners, but I feel sorry for some of them who are about to lose their retirement savings and retirement home. I expect that many were suckered. That's how financial scams work: They exploit the arrogant, the gullible, the trusting, the easily fooled and the stupid. That's a large part of the poupulation.

This is not funny.

I believe in most cases the buyer is the one who has the least knowledge about Thai laws being new to the land. Back home when your lawyer tells you something legal it is. 100%.

1 hour ago, Patong2021 said:

Which one of the 45 foreign nationals implicated was aware of the illegality?

Without doubt all of them were aware of what they were engaging in, they only ASSumed they could get away with it

6 hours ago, CallumWK said:

Without doubt all of them were aware of what they were engaging in, they only ASSumed they could get away with it

Thailand is now throwing out the foreigners it invited in - Real Estate, Housing, House and Land Ownership - ASEAN NOW

Thailand built the nominee scheme, but foreigners pay the price - Real Estate, Housing, House and Land Ownership - ASEAN NOW

20 hours ago, KhunLA said:

I find humor, in they think Thais are so stupid, they'll believe, 'they told me it was legal'.

All you do is embarrass yourselft more for knowingly doing something illegal, and never expecting to get caught. oops

Yes, it is legal, IF, you are setting up a real company, and plan on actually engaging in some type of business. You set up a company, with no intent to do anything, but buy property. How is it possible to not know that is illegal.

Pretending to be stupid, don't get you out of doing something stupid.

Some person at the crosswalk, cars stops to let them cross the street, a scooter passes car and hits them ... that's misfortunate. Getting caught committing a crime is not, that's justice.

Live with your choices.

None so blind as those who will not see Khun La😉 and no I have no house here.

Felt

22 hours ago, KhunLA said:

They told me it was legal ...

They told everyone it was legal.

6 hours ago, KhunHeineken said:

They told everyone it was legal.

And they were enabled by local government representatives who allowed the registrations and land sales. People were actively and intentionally mislead by successive corrupt administrations that made the inappropriate and wrongful acts the norm.

The people who are laughing at these foreigners, are also the same people who rely on visa agents to get their visas approved. At some point, the visa process and the use of agents will receive the same scrutiny.

10 hours ago, Patong2021 said:

And they were enabled by local government representatives who allowed the registrations and land sales. People were actively and intentionally mislead by successive corrupt administrations that made the inappropriate and wrongful acts the norm.

Nope, it is allowed to register a property in company, as long as the company is a real business entity.

The land department can not know at the time of the registration if the Thai shareholders brought in the funds, and/or if the company will do any real business in the future.

Everyone who has been here longer than a month would know it isn't legal, unless he has been living under a rock all the time.

13 hours ago, Patong2021 said:

And they were enabled by local government representatives who allowed the registrations and land sales. People were actively and intentionally mislead by successive corrupt administrations that made the inappropriate and wrongful acts the norm.

Correct. They all wanted to get rich selling land to foreigners, who were happy to pay over the odds for it, without any legal and proper structure of ownership.

13 hours ago, Patong2021 said:

The people who are laughing at these foreigners, are also the same people who rely on visa agents to get their visas approved. At some point, the visa process and the use of agents will receive the same scrutiny.

I don't think people are laughing, but as another member has posted, there is a lack of sympathy, and I can understand why.

I've never subscribed to the "everyone else is doing it, so it must be fine" theory. Let's be honest, these people knew it was illegal, but because there was no enforcement, they thought it was fine to go ahead. Surely they must have given a thought to the possibility there could be enforcement one day in the future.

For me, and I have posted this in the past, the day was always going to come when the Thai government was going confiscate these illegally owned properties. That day has arrived, with 47,000 Thai companies to be investigated for using Thai nominees.

In any case, when I researched it, I discovered it was also a lousy way to create the appearance of ownership to a foreigner.

No one would accept a property ownership structure like this in their own country, but they come to Thailand and set up a Thai company solely for owning a property because "everyone else is doing it, so it must be fine." It's like they have turned a blind eye to due diligence.

I use a visa agent. I like the convenience. The less dealings I have with any government officials here the better. I am not donating 800k to a Thai bank, when the interest from that 800k, left in my home country, more than pays for the agent. Should they seriously ban the use of agents, I don't expect any sympathy, but I transfer way more than 65k baht a month, so I will fall back to that method.

4 hours ago, CallumWK said:

Nope, it is allowed to register a property in company, as long as the company is a real business entity.

The land department can not know at the time of the registration if the Thai shareholders brought in the funds, and/or if the company will do any real business in the future.

Everyone who has been here longer than a month would know it isn't legal, unless he has been living under a rock all the time.

Yes, it's well known that setting up a Thai company solely for the purpose of owning land is illegal.

These Thai companies, and there are around 47,000 to be investigated, would stand out because the make nothing, sell nothing, offer no services, and basically do nothing. The company's only asset is a residential property. Open and shut case. Next.

20 hours ago, KhunHeineken said:

Correct. They all wanted to get rich selling land to foreigners, who were happy to pay over the odds for it, without any legal and proper structure of ownership.

I don't think people are laughing, but as another member has posted, there is a lack of sympathy, and I can understand why.

I've never subscribed to the "everyone else is doing it, so it must be fine" theory. Let's be honest, these people knew it was illegal, but because there was no enforcement, they thought it was fine to go ahead. Surely they must have given a thought to the possibility there could be enforcement one day in the future.

For me, and I have posted this in the past, the day was always going to come when the Thai government was going confiscate these illegally owned properties. That day has arrived, with 47,000 Thai companies to be investigated for using Thai nominees.

In any case, when I researched it, I discovered it was also a lousy way to create the appearance of ownership to a foreigner.

No one would accept a property ownership structure like this in their own country, but they come to Thailand and set up a Thai company solely for owning a property because "everyone else is doing it, so it must be fine." It's like they have turned a blind eye to due diligence.

I use a visa agent. I like the convenience. The less dealings I have with any government officials here the better. I am not donating 800k to a Thai bank, when the interest from that 800k, left in my home country, more than pays for the agent. Should they seriously ban the use of agents, I don't expect any sympathy, but I transfer way more than 65k baht a month, so I will fall back to that method.

So, you actually throw stones in a glass house.🙄

Felt