Situation Regarding Owning Land And Property Through A Company?

[kenjin]

Whats the current situation regarding owning land and property through a company? Also, someone told me that, shareholders can claim shares of any property or land after 10 years? Or something to this affect. I have to admit, it was a "bloke in the bar" scenario, but can anyone give me an heads up?

[johnnyk]

My company got its chanote in late January with no difficulties except the loss of 90 mins of my precious time, 45 of which was spent eating lunch at a stall outside the land office.

[backflip]

"Whats the current situation regarding owning land and property through a company?"

Specifically what do you want to know? You can do it.

"Also, someone told me that, shareholders can claim shares of any property or land after 10 years? Or something to this affect."

Nope.

"I have to admit, it was a 'bloke in the bar' scenario, but can anyone give me an heads up?"

Great, you accept advice from the guy next to you in a bar, without question. The next time you should ask him direct questions, as you should to Sunbelt Asia.

A guy I met in BKK claimed to have - as one of his closest advisors - "an expert in worldwide law, who filed the law suit that found Texas' motorcycle helmet law unconstitutional". This guy absolutely believed him. When he Googled "Texas motorcycle helmet law", he found that the law was still in effect, and his "expert" had nothing to do with anything. When I asked him about his discovery, he simply said, "Google is wrong." It's difficult to argue with someone with a closed mind.

[THAIJAMES]

I want to know:

If the land department is still checking if the nominees you use to form your company have the money to purchase the land

and is there a way to protect yourself in the future when selling or transferring the land, against the nominees wanting compensation.

Edited March 20, 2008 by THAIJAMES

[PattayaParent]

Whats the current situation regarding owning land and property through a company?

As far as I know the law hasn't changed, it's still illegal.

Also, someone told me that, shareholders can claim shares of any property or land after 10 years? Or something to this affect.

Haven't heard about this but as it was a "bloke in the bar" scenario, it must be true.

Read something on this Forum the other day that said there was a law proposed that the shareholding rules are to be changed so that Farangs cannot be voting shareholders of these companies, only Thais.