3 hours ago, ronnie50 said:

Yes. While the current foreign 'owners' will certainly be facced with a 'distressed sale' - some are sitting on property and structures worth 10-20 million baht in many cases. Not sure if there are enough rich Thais to buy them all. Legit companies might see an opportunity to grab several and then turn them into AirBnBs. Still with 47,000 (and counting) it wouldn't be worthwhile to buy more than a handful and the ROI would take years. The price point for middle class Thai purchasers would probably be 5-6 million max (holiday home).

Good point.

What's also interesting is how authorities distinguish between who will be arrested, charged, sentenced, deported and blacklisted, and who will be arrested, fined, and "allowed" to sell. It may be based on the property value.

Tourism is down in Thailand, so I'm not sure buying an asset to cater for tourists is a good idea. As you say, it may take years to see a ROI, if there's a ROI at all.

There's no good options for the foreigners involved in this.

7 hours ago, jacko45k said:

And the UK looks like a bad place to leave them too!

It will kick off in the UK one day. It's a ticking time bomb.

18 hours ago, JerryM said:

I am up here in Issan. Thanks.

So the property is definitely not in your name. 😂

2 minutes ago, KhunHeineken said:

So the property is definitely not in your name. 😂

Yes. And it is also not in my wife's name for any possible liabilities. It is in her brother's name.

2 minutes ago, JerryM said:

Yes. And it is also not in my wife's name for any possible liabilities. It is in her brother's name.

Have you tested the brother's DNA? 😂

4 minutes ago, KhunHeineken said:

Have you tested the brother's DNA? 😂

I knew that was coming. Not a problem.

14 hours ago, KhunHeineken said:

14 hours ago, JerryM said:

Yes. And it is also not in my wife's name for any possible liabilities. It is in her brother's name.

Have you tested the brother's DNA? 😂

You have the scenario backwards: The scenario is that I pay for the house and the wife's 'brother' shows up; not the wife's brother pays for the house and I show up.

On 8/13/2026 at 11:49 PM, atpeace said:

I've never met a scammed buyer. I have met loads of buyers that knew they were doing it illegally but convinced themselves it was OK because everybody else was doing it. Your instincts were correct but it doesn't take good instincts.

When you have a lawyer organising the sales it’s safe to think it’s legal. Saying everyone should know better than local lawyers is BS!

On 8/13/2026 at 2:17 AM, FritsSikkink said:

Shareholders don't put in any money, don't get any compensation when the property is getting sold, don't have any voting rights.

It is a scam to fck the law and everybody knew it. Don't cry when you get caught.

Another goose who thinks that even though lawyers were organising it they should know better than lawyers! What BS!

34 minutes ago, Brettoj said:

When you have a lawyer organising the sales it’s safe to think it’s legal. Saying everyone should know better than local lawyers is BS!

When you use a CPA to evade taxes, is it safe to think it's legal?

Everyone involved knows what it is.

53 minutes ago, Brettoj said:

When you have a lawyer organising the sales it’s safe to think it’s legal. Saying everyone should know better than local lawyers is BS!

So when committing to paying several million baht for a property you would not yourself do any due diligence and just check in google to see if it is legally possible for a non Thai citizen to purchase land in Thailand? The answer from google would be a hard no and its a 5 second job to check this.

The buyers strategy here was to stick their head in the sand and hope for the best.

4 hours ago, Brettoj said:

When you have a lawyer organising the sales it’s safe to think it’s legal. Saying everyone should know better than local lawyers is BS!

OK, I disagree but respect your opinion. I was offered to setup a company when I was buying an expensive condo years ago and after a little research I realized it was illegal. It was clear to me beyond a doubt. IMO, it would be clear to anyone but I could be wrong. I still thought it might be worth the risk but in the end decided it wasn't.

Edited August 15Aug 15 by atpeace

4 hours ago, Yellowtail said:

When you use a CPA to evade taxes, is it safe to think it's legal?

Everyone involved knows what it is.

Yes, the CPA, simply knows the margins, you can probably get away with, without receipts for deduction. Like 10% of income for church donations & charities.

% of business deductions vs total cost of home for business space & utilities.

And always a possibilty of an audit anyway.

Same for fake companies, in the past, if pushing it, always a possibility to get caught. Low profile, or not using someone that is getting investigated.

Now ... not so safe.

5 hours ago, Brettoj said:

When you have a lawyer organising the sales it’s safe to think it’s legal. Saying everyone should know better than local lawyers is BS!

It's called due diligence. One should do it even when choosing a lawyer.

People get second medical opinions. If it's an important legal matter, they should do the same.

14 hours ago, KhunHeineken said:

People get second medical opinions. If it's an important legal matter, they should do the same.

Yes -- I checked with my doctor and he said it was A-OK to buy the Koh Samui house.

54 minutes ago, JerryM said:

Yes -- I checked with my doctor and he said it was A-OK to buy the Koh Samui house.

No, you have to go get a Thai law degree and do your own due diligence. Of course as it is a reserved occupation that would be against the law too, what a stitch up.

57 minutes ago, jacko45k said:

what a stitch up.

No sutures require a medical degree

2 hours ago, JerryM said:

Yes -- I checked with my doctor and he said it was A-OK to buy the Koh Samui house.

Your shrink assured you that you're sane?

1 minute ago, save the frogs said:

Your shrink assured you that you're sane?

No -- on the form she wrote: Indeterminate. But someone's mental health and buying a nominee-type property in Thailand should not be on the same topic.

Edited August 16Aug 16 by JerryM

1 hour ago, JerryM said:

No -- on the form she wrote: Indeterminate. But someone's mental health and buying a nominee-type property in Thailand should not be on the same topic.

From reading a couple of posts on the Thai Tax situation, I am starting to get the impression that a similar phenomenon may unfold with the tax situation.

Some folks seem to be inventing the laws themselves, circumventing, tweaking, not bothering to file at all .... the Thai govt may not verify anything for years , especially since it's a new regulation.

Until they wake up one morning and decide to audit everyone.

Edited August 16Aug 16 by save the frogs

1 minute ago, save the frogs said:

From reading a couple of posts on the Thai Tax situation, I am starting to get the impression that a similar phenomenon may unfold with the tax situation.

Some folks seem to be inventing the laws themselves, circumventing, tweaking .... the Thai govt may not verify anything for years , especially since it's a new regulation.

Until they wake up one morning and decide to audit everyone.

I assume that once governments get their sh*t together, every return will have to be e-filed, and AI will audit every one.

2 minutes ago, Yellowtail said:

I assume that once governments get their sh*t together, every return will have to be e-filed, and AI will audit every one.

Bring on AI.

If there's an error, AI is liable and you sleep like a baby.

But AI will never make an error anyway.

Who is crazy enough to want to mess with the taxman?

6 minutes ago, save the frogs said:

Until they wake up one morning and decide to audit everyone.

As someone who uses the 65K+ baht monthly deposit for retirement extension, people over the years have suggested that modus operandi may be the most vulnerable tax-wise.

But given the allowable deductions, US Social Security pension, and other US-Thai tax treaty conditions, that should not be a problem for me.

But thanks for your concern.

8 hours ago, JerryM said:

Yes -- I checked with my doctor and he said it was A-OK to buy the Koh Samui house.

Let me guess, the doctor sold you his bar as well. 😂

4 hours ago, Yellowtail said:

I assume that once governments get their sh*t together, every return will have to be e-filed, and AI will audit every one.

It's convenient for the Thai government because they have a law that says a foreigner must have a certain amount of money for the retirement visa / extension, so, cry poor, no visa, want visa, must pay tax. 😂

Only a matter of time.

4 hours ago, save the frogs said:

From reading a couple of posts on the Thai Tax situation, I am starting to get the impression that a similar phenomenon may unfold with the tax situation.

Some folks seem to be inventing the laws themselves, circumventing, tweaking, not bothering to file at all .... the Thai govt may not verify anything for years , especially since it's a new regulation.

Until they wake up one morning and decide to audit everyone.

We are being told we don't have to file if our remitted income isn't taxable, but local tax offices are giving contradictory advice on the mechanics.

Under Paw 162/2566, foreign funds earned prior to January 1, 2024 are exempt when remitted. Furthermore, under the US–Thailand DTA, US Social Security benefits are taxable solely by the US.

The lack of administrative guidance and inconsistent enforcement at provincial RD branches leaves everyone second-guessing what proof of basis or documentation they'll demand down the line."

6 minutes ago, atpeace said:

We are being told we don't have to file if our remitted income isn't taxable, but local tax offices are giving contradictory advice on the mechanics.

Personally, I find it safer to file as there will be less chance of being flagged down.

Tax folks back home may interpret not filing as hiding something.

And I am not convinced local tax offices are completely in sync with our tax folks back home.

35 minutes ago, KhunHeineken said:

Let me guess, the doctor sold you his bar as well. 😂

As the old time New Yorkers would say, your guess and a subway token gets you a ride.

46 minutes ago, KhunHeineken said:

It's convenient for the Thai government because they have a law that says a foreigner must have a certain amount of money for the retirement visa / extension, so, cry poor, no visa, want visa, must pay tax. 😂

Only a matter of time.

What is only a matter of time?

20 minutes ago, Yellowtail said:

What is only a matter of time?

The end of the world as we know it.