Questions About Land And Immigration

[skycree]

Hi,

I apologize if the subjects that I am asking about have already been posted and answered. Because I am posting questions relating to different subjects I thought the general area was best.

My first question relates to buying a house. As a foreign national I know that I am unable to buy a house in Thailand. I will marry a Thai national next year but we found this wonderful house in the Thonburi area in the same village as her extended family. The selling price is very reasonable to me and I would like to purchase the house. Are there any restrictions against my girlfriend buying the house? I have heard different stories of Thai women being discriminated against in this male dominated society, or is this something that has been changing? Her family members who own houses in the area all insist there is nothing to worry about, however I do want to be sure.

Should I be worried about transferring money to her bank account from the US? Would it be safer to send her a cashier's check?

My second question relates to the resident permit. I have read that 100,000baht is due with the receipt of the book but the resident still has to re-apply each year. Will the applicant still have to pay the 100,000baht every year or only the first time when the book is received?

Thank you in advance for your response.

[Crush]

Should I be worried about transferring money to her bank account from the US? Would it be safer to send her a cashier's check?

Why would you be worried?

TROLL.

[skycree]

I would be worried about the Thai Govt noticing a large amount of money being transferred to her bank account. Doesn't the bank have to report this type of transfer?

Would the govt ask questions about where the money came from, etc?

Thanks

[Crush]

I would be worried about the Thai Govt noticing a large amount of money being transferred to her bank account. Doesn't the bank have to report this type of transfer?

Would the govt ask questions about where the money came from, etc?

Thanks

Why are you worried about someone noticing, got something to hide?

[skycree]

Nothing to hide. I already explained what the money was for.

Ok, how about this. Are there taxes on money transferred into a Thai bank account?

[astral]

If you are worried, put the money in your account.

When you buy the house you can draw a cashiers checque against your account.

I would suggest a back to back mortgage agreement with your wife, in case she tries to sell the house without your knowledge, or try to pledge it against a loan.

It also covers you, if she predeceases you.

[ThaiPauly]

Ok, how about this. Are there taxes on money transferred into a Thai bank account?

Not to my knowledge I have been tranferring large sums of money from the UK for the last 2 years and have had no comebacks. just my bank ringing up to find out what the money is for. (Because of the new money laundering regulations introduced after 9/11) I say it is for a property and they are happy with that, which is any way the truth.

I have bought my property in my wife's name with a 30 year leaseback, in other words I am the tenant in her house and if we were to split she cannot get me out (officially ) until my lease expires. I will pay her 100 baht a month rent for it

[Yohan]

I would like to add the following:

1- Transfer the money into your own bank account, and also ask for a tor-tor-sam form for buying property. I know, you cannot use that now for this house, but maybe later on, should you move and prefer to buy a condominium, while selling the house, you can use it to register the condominium in your own name.

2- Buy with a cheque, issued by the bank, with your name on it and keep a copy.

This makes it clear, who paid for the house.

3- Beside lease/mortgage agreements, keep all related original papers (land registration, selling contracts, house registration book and mortagage/lease agreements) with you, maybe in a safety box in a bank, which can be opened only with your own signature. So nothing can be done with these important documents without your knowledge.

This makes it impossible (or very very difficult at least) for any other person, to make use out of the house (like to sell it or to remove you from that property)

4- Some people recommend, to separate land and house.... you cannot buy the land, but your Thai wife can....

however you can own your house 100 percent as a foreigner.

If they want to kick you out, at least they have to pay you for your house. And together with a long-term land-lease agreement, this is impossible to remove you without your agreement and paying you off.

5- I know, this is legally a good way, however I have no practical experience, how to handle that? Has anybody done this?

If a owner offers land/house for sale, how to separate the house from the land?

---

About the other question: As far as I know, any restriction for a Thai wife, who is married to a foreigner, to buy property in her name, has been abolished. There is no difference related to own property in Thailand, if the Thai spouse is a man or a woman.

I cannot comment about the resident permit question.

[dr_Pat_Pong]

Your item Number 2 is legally incorrect. Absolutely.

[IamMaiC]

I would be worried about the Thai Govt noticing a large amount of money being transferred to her bank account. Doesn't the bank have to report this type of transfer?

Would the govt ask questions about where the money came from, etc?

Thanks

###### Try puting 10,000 dallors into your US bank account at once!!! And your worried about the Thai Government!!!!

[Yohan]

Your item Number 2 is legally incorrect. Absolutely.

You are right, so let me add, when you bring the cheque, ask for a receipt for it from the seller.

Thank you!

[dr_Pat_Pong]

Your item Number 2 is legally incorrect. Absolutely.

You are right, so let me add, when you bring the cheque, ask for a receipt for it from the seller.

Thank you!

Yohan...you are not a newby. That also won't make an iota of difference. You cannot own land in Thailand generally speaking.

[Yohan]

Your item Number 2 is legally incorrect. Absolutely.

You are right, so let me add, when you bring the cheque, ask for a receipt for it from the seller.

Thank you!

Yohan...you are not a newby. That also won't make an iota of difference. You cannot own land in Thailand generally speaking.

To BUY the land is out of question in this thread, the point is how to prepare for mortgage, lease, or maybe later on, if you get out from there, to use this money eventually for a foreign owned condominium, or to separate house/land ...

If you pay money for something like house, lease, mortgage ....you should have very clear documents, which show from where (from whom) this money originated. To do all transaction via a bank is a good way for that.

This is, what I recommend. Of course, it is up to the foreign individual, to come up with cash money and to pay - without anything in return except some promises....

For lease, mortgage....some legal advisers recommend also, if a Thai wife is involved, to make her up a testament, a last will to favour the husband - so relatives cannot so easily interfere, should the wife die earlier than the husband.

Personally, what I recommend, is a company ownership. Shareholder-laws are not easy to change - it might cost some money, yearly reports and book-keeping, but I think, if correctly done, it is the strongest form of possible ownership in Thailand.

[Crush]

Sounds too difficult, i will just put in the wifes name, and if we ever split up, i will just move on, no problem.

I lost an expensive property once in Europe, so a cheap one in Thailand is no great shakes.

Anyway, they deserve some security for putting up with farangs.

[Sumitr Man]

My 2-cents worth (and I'm afraid it ain't worth much more than that):

* unless it falls under one of the very few exemptions under the Thai Revenue Code, such as money from a father to child or child to father, all money recieved in Thailand is subject to income tax. Therefore, if you live offshore, and pay money to your Thai g/f, subject to you not being married, there is every likelihood that she'll be liable to income tax in Thailand.

* pepper-corn rents are not enforceable under the Thai Revenue Code. You can write out a lease agreement for Bt. 100 per year/month, and pay that. But the Revenue Code will not accept it. They'll assess income against the letter based on true market value, regardless of what's in the agreement (to which they'll just say tough!). So, you can pay your g/f, wife, a pepper-corn rent, but you leave her subject to a tax exposure based on true market value.

* if the foreigner is paying for the land, there's nothing illegal about he and his partner entering into a loan agreement for the money paid. But, that's what it'll need to be: unsecured loan, or secured over some property (such as shares in a company) that he is entitled to register, which will not include the land. The Land Dept. will not register a charge over land if the lender is a foreigner. Remember, under the CCC, any money over Bt. 50 given without a receipt of loan is considered a gift.

[andy50]

why bother with all the hasstle ,its just not worth it- live in the dom republic ,theres none of this cant do this cant do that crap you can buy land /houses freehold cheap as chips no visa requirement,no resrictions on working ,22%tax free return on your savings , no tax, good economy--ive been 2x and will settle there not thailand (been to los 7x )

[Crush]

why bother with all the hasstle ,its just not worth it- live in the dom republic ,theres none of this cant do this cant do that crap you can buy land /houses freehold cheap as chips no visa requirement,no resrictions on working ,22%tax free return on your savings , no tax, good economy--ive been 2x and will settle there not thailand (been to los 7x )

22%?

Years ago i remember Thailand at 15% on a 90 Day account, 22% is very high. But also very good if you can get it...........hmmmmmmm, need do some research on Dominican Republic.

[andy50]

hi crush, as far as i can see its about 10%interest on us dollars but 22%on dominican currency. on my last trip i went with a large group of friends ,one of them,(my nephews wifes mother )has since returned there and has had a new house built for a total cost of £41-000-