Has It Happened ?

[suiging]

I joined TV, as I believe many others did at the time, when it looked like the sky was about to fall in with reference to home ownership via the company route.

Many " Chicken Little" types ran round with tales of folk losing their homes and how you had to immediately give your house to any passing Thai on a push bike and sit back safe and sound with a thirty year lease or something similar, in the name of said passing Thai.

Please do not answer " yes................That's what you should do because doom is coming ", we've all heard that for some time now. I am genuinely interested if anyone has actually ( no urban myth ) been brought to book yet ? And if so how did they resolve the situation ?

Thanks in advance for helpful replies. I am sure many will be interested.

[niggle]

Well we had already stared out on the company route when all the doom agents hit the forums. Nothing we could do so sat tight and crossed everything. Came over here 3 months ago, registered house in company name with land department, go blue book (initially my name then changed to company name). Seems all quiet now. of course it could go tits up but then again it might not. Life is like that. Everyone in the business over here seems to say that the govt may posture and pout but they are not going to lose the white mans money. That says it all

[rken]

As far as I know the new law was never passed. Was all set to take the necessary steps but havn't needed to. good luck

[quiksilva]

As far as I know the new law was never passed. Was all set to take the necessary steps but havn't needed to. good luck

Correct, but it is still lurking out there causing uncertainty. I for one just want to see it scrapped or implemented, and don't care which. Just so long as we know where we stand!

[Irene]

Amendments to the Foreign Business Law are still with National Legislative Assembly and unlikely to be placed for consideration within the life of this NLA. The controversial part was some members of the NLA wanted to cover those Thai companies,that are truly majority-owned by Thais, to be considered as aliens if they are controlled by foreigners in term of management or policy making. However, the government does not go along with that concept and now foot-dragging in order to let it lapse by the election time and die of natural death. (The law has to be re-introduced by the next government, if it so wishes) I guess that is the likely result of the current scenario of a natural death.

As for the future, if the Democrat Party forms the government in January 08, the likelihood of the introduction of the Amendments is remote or even if introduced it is likely to be friendly to foreigners. Some of the key Party members have expressed this feeling.

As to the company route for homeownership, if you can prove that the shareownership on the Thai part comes from his or her own fund or not shown as receiving from non-Thais to buy the shares, then no action can be taken against the company or the individuals. Even if you are wrong, you may face the criminal penalty and its harshness is depending on judges, but your property would not be lost since you are forced to sell to Thais within a year or two (i can't remember the timeframe).

[Gary A]

As far as I know the new law was never passed. Was all set to take the necessary steps but havn't needed to. good luck

Correct, but it is still lurking out there causing uncertainty. I for one just want to see it scrapped or implemented, and don't care which. Just so long as we know where we stand!

You want to know where you stand? Have you forgotten where you're at? This is the country where they change rules like people change clothes. It's a day at a time. Who knows what tomorrow will bring.

[quiksilva]

As far as I know the new law was never passed. Was all set to take the necessary steps but havn't needed to. good luck

Correct, but it is still lurking out there causing uncertainty. I for one just want to see it scrapped or implemented, and don't care which. Just so long as we know where we stand!

You want to know where you stand? Have you forgotten where you're at? This is the country where they change rules like people change clothes. It's a day at a time. Who knows what tomorrow will bring.

Yes unfortunately thats all too true. Still, I want to know though

[backflip]

"Correct, but it is still lurking out there causing uncertainty."

That's more than enough reason not to enjoy life to its fullest.

[quiksilva]

"Correct, but it is still lurking out there causing uncertainty."

That's more than enough reason not to enjoy life to its fullest.

What's that supposed to mean? Did you get out of the wrong side of the bed this morning? I actually hope (for you) that that was an attempt at sarcasm. Even if it was, I fail to see the relationship between enjoying life and the outlook of the real estate market.

[jumnien]

All land "ownership" anywhere in the world is temporary. Remember we are here for a brief instant in a geological sense.