House Purchase Via "company"

[monkeyclub]

Firstly sorry to bring it up again as I realise it's one of the most common subjects on this forum, however, I'm new to it and seek confirmation from the experienced.

I was recently viewing property in a Moo Baan at a Chiangmai location, seemingly popular with Foreigners according to the sales rep, who spoke zero english, I was met with a blank face when I offered " hello, how are you today " not a great start.

I proceeded with assitance from my girlfriend.

On the question of Tabien Baan? Chanot? The answer was register the property in a Thai name or:

1. I may form a company, but will be bound to it for not less that Ten years.

2. The company will be formed under the standard 51% Thai - 49% Foreign ownership, however, she mentioned further. I MUST be married to the 51% Thai shareholder, proof required.

Yes I understand that it is a risk to purchase anything in Thailand other than a cup of coffee, I merely seek confirmation on these points for future reference.

Thanks.

[likite]

Yours questions would be better posted in Thai visa Real Estate, housing, house and land ownership forum. Do a search on there.

My advice rent don't buy. Good luck.

[Bill97]

Best if you carefully explore the options independently to get the full range of choices and details on how to structure the documents with maximum security for yourself. Sales people do not know much about it.

[Puwa]

Buying coffee can also be risky.

[tigerbeer]

do a 30 year lease. better security for yourself. find out more about it at the real estate forum on thaivisa.

[Ajarn]

Yours questions would be better posted in Thai visa Real Estate, housing, house and land ownership forum. Do a search on there.

My advice rent don't buy. Good luck.

I agree with the 'rent don't buy' even with a wife who 'insists' it's a good deal...

[Yimmy]

Absolutely, Rent don't buy.

Rent for a year or two, relax and learn everything there is to learn at your own pace. There ain't no need to rush , unless there's pressure from the gf to buy a house that will be legally hers to do whatever she pleases, in which case definately RENT for a while.

[The_Doctor]

Be careful with the Regent!!! I bought a house from Tropical in one of their Emperor villages... While I am very happy with the house now, it was a long period of fighting with the village to get what we paid for. While you are a prospective customer, you will be treated well - as soon as you hand over the money they provide zero customer service, and lie constantly.

We are still waiting for a clubhouse which was promised us 2 years ago - they are yet to start it.

My advice is still to go ahead, as they are great houses - but keep a close eye on what is going on (every day) and only hand over the minimum money until you are happy with it.

[monkeyclub]

Theres a wealth of information on the Thai Visa forum.

Along with other efforts it's top of the list in my proccess of forming check lists, and assist with different ideas in forming an opinion.

Points noted, Thanks all.

[tigerbeer]

also be careful of buying houses at koolpunt village. many complaints of sub-quality houses. i know for a fact that a lot of people had problems with koolpunt vill 10, heritage at san kampheng.

[Sanpatong]

1. Of course you don't have to be married to the 51% party. Yousall think Mr Tesco he marry Miss Lotus? CommmmmmmmmON!!

2. The company route is only semi-legal at best. Chances are you will experience hassle in the future with this.

3. A lease is 100% legal.

4. I personally like buying over renting for people who are in a long term relationship with a Thai national. Opportunity to contribute someting more tangible than sperm and beer breath.

[Gravelrash]

Firstly sorry to bring it up again as I realise it's one of the most common subjects on this forum, however, I'm new to it and seek confirmation from the experienced.

I was recently viewing property in a Moo Baan at a Chiangmai location, seemingly popular with Foreigners according to the sales rep, who spoke zero english, I was met with a blank face when I offered " hello, how are you today " not a great start.

I proceeded with assitance from my girlfriend.

On the question of Tabien Baan? Chanot? The answer was register the property in a Thai name or:

1. I may form a company, but will be bound to it for not less that Ten years.

2. The company will be formed under the standard 51% Thai - 49% Foreign ownership, however, she mentioned further. I MUST be married to the 51% Thai shareholder, proof required.

Yes I understand that it is a risk to purchase anything in Thailand other than a cup of coffee, I merely seek confirmation on these points for future reference.

Thanks.

I am a real estate agent in Chiamg Mai and a farang, I've seen it all first hand. And no I will not try to sell you anything.

I have yet to see a Thai spouse walk in my office that was, shall we say less, excited if her husband was planning to buy a condo (as it wouldn't be in her name).

Do not form a company to buy a house, it is unlikely it will get through the land office (except in the dvelopment company can lubricate matters, plus setup costs, monthly accounting costs and yearly audit costs). Some long term farang companies do buy and sell houses, but they are well established, have employees and pay tax, that would not be your scenario.

If you are determined to buy this is my standard advice, buy it in her name whilst at the same time setting up a 30 year lease in your name. She owns it, you control it for 30 years. Not perfect, but about the best way at the moment.

Don't listen to Thai agents or development sales staff, could you possibly imagine they have your best interests at heart?

And also, there are farangs spread around many Moobaans in Chiang Mai.