Interesting Corporate Ownership

[LivinLOS]

I recently discussed with a friend the transfer of ownership of his multi million USD valued villa.

His system was

A ) a Thai company owning the property as per many peoples 'normal' route a couple of years back but

B ) His own offshore company owning the voting shares and controlling interest.

Now he has recently traded his villa in a complex deal to another farang, the secondary farang is taking it on purely as an asset against a large business here and intends to flip it for sale, he doesnt intend to live in it. To 'sell' the controlling interest they use an international lawyer to simply change ownership of the offshore company (IIRC BVI) no thai involvement whatsoever, no taxes paid, no interference from Thai officialdom and no way for Thai officaldom to even find out the shareholder / benficial owners of the BVI offshore vehicle anyway.

Of course as this is a multi million USD value being transacted they have had this vetted from some of BKK's more expensive legal eagles who have all given the the stamp of approval.

Its interesting to note that this is ONLY possible / viable as a business deal due to its tax free or non taxable transfer status. The new owner is merely taking it as a tradeable asset to flip and would not have done so if there was an additional tax burden.

Now I know company ownership is not ideal, I realize an FBA and the voting rights issues may in the future change but as of right now these are working and as of right now I have ever heard of anyone losing a house via the company ownership route, despite its headaches and hassles.

Just in interesting one.