Koh Samui Land Prices Take Off

[highdiver]

HighDiver,

The one statement I answered to, was Claude stating a foreigner can not own land.My answer was , if you set up a proper Thai co with a Thai national you can.The company does, not you as an individual.

Never mentioned preferential shares.

Now you can answer me this,if I follow the letter of the law,then I own 49% of the said company,which in turn owns the land.Am I correct? Did I say anything wrong?I hence own through the company 49% of the land.Yes or No?Now this is only a hyperthetical example,just trying to get my point across.This is following the letter of the Law.

Protection of your interests,share distribution,voting rights have never been mentioned.

Dear Roo.

I assume tat you are reffering as many of the posters to buying land and house for your personal use using a thai company.

to be what you are reffering to as a "proper thai company the shares in Thai hands must be held by Thais. real investors who realy are investors and not acting on behalf of the forigner with the intent of buying land for and on behalf and for the personal use of the forigner.. any case of which you set up a company using nominees is a violation of act 66.

if you arealy interested then please look at the following page it highlights some of the legal problems of taking the company route.

http://www.samuiforsale.com/landcode.htm#Land

to get this back on the original topic.

the prices of lands in Samui have been so expensive that buyers are now checking the laws and making sure of all legal matters before buying.

while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin.

[Nirvana]

http://www.thaivisa.com/forum/index.php?showtopic=188930

[Samuian]

Well, post #79 by nod, brings in the shortcut to this pro and con, on one side the sellers and wanna be "cash in on it if u can" and the others who are bit more realistically about it and stick simply to the facts!

I am well aware that some have made a fortune here, some still wish to join the ship..... well, well well... do it, but leave those with a different view, air their opinion!

is it really all about, if sales go well, and enough contracts are signed by missinformed, potential buyers, owning a 800 m2 Villa with 200 m3 infinity pool, over viewing a vastly over developed and widely deforestated island, driving around in this mess of crumbling infrastructure, with the latest Mercedes Benz SUV, stepping out of it just to step into black sewerage seeping out of some concrete tubes , which have been lowered into the grounds for the sole purpose of making a quick buck, not to drain sewerage and rainwater away from living quarters, owning a Yacht to sail it around waters which are deprived of its fish, polluted by garbage.... this is something I would never focus on, to achieve!

it's blind greed, selfishness and ignorance where al this comes down to, not about "legal ownership" or anything like this.. it's about me, me, me.... Yes and "Samuiforsale.com" is a pretty good eyeopener!

There is some grist in the mills, but then life will go on...

[billymitchell]

HighDiver,

The one statement I answered to, was Claude stating a foreigner can not own land.My answer was , if you set up a proper Thai co with a Thai national you can.The company does, not you as an individual.

Never mentioned preferential shares.

Now you can answer me this,if I follow the letter of the law,then I own 49% of the said company,which in turn owns the land.Am I correct? Did I say anything wrong?I hence own through the company 49% of the land.Yes or No?Now this is only a hyperthetical example,just trying to get my point across.This is following the letter of the Law.

Protection of your interests,share distribution,voting rights have never been mentioned.

Dear Roo.

I assume tat you are reffering as many of the posters to buying land and house for your personal use using a thai company.

to be what you are reffering to as a "proper thai company the shares in Thai hands must be held by Thais. real investors who realy are investors and not acting on behalf of the forigner with the intent of buying land for and on behalf and for the personal use of the forigner.. any case of which you set up a company using nominees is a violation of act 66.

if you arealy interested then please look at the following page it highlights some of the legal problems of taking the company route.

http://www.samuiforsale.com/landcode.htm#Land

to get this back on the original topic.

the prices of lands in Samui have been so expensive that buyers are now checking the laws and making sure of all legal matters before buying.

while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin.

You've finally made an intelligent statement. "making sure of all legal matters before buying". If it were truly illegal, as you say, why would a buyer pay such an expensive price after doing expensive due diligence only to reach the conclusion that, as you suggest, is illegal. The fact is they wouldn't, they would do their due diligence, find out it is legal if correctly set-up and pay the expensive price and that is why land values on Samui are rising and yes, property is being sold everyday on Samui. Are they all fools? Hardly think so. Most of them didn't attain their wealth by being fools. To date, not one single properly set up land holding company in Thailand (not just Samui) has been confiscated, period. I'm fairly sure the inevitable boogie man *Oh, but it's coming" argument from you will be forthcoming. but frankly it won't come until the Thai government changes it's current law. I have read your "light reading" many times, suggest you do some heavy reading and please don't offer up that highly transparent joke sight site samuiforsale as your evidence/

[Nirvana]

. I have read your "light reading" many times, suggest you do some heavy reading and please don't offer up that highly transparent joke sight site samuiforsale as your evidence.

May I ask why you say it is a joke site ?

[Samuian]

it's comin' to a point similar to a cheap wine tasting, the seller tries to convince the not so convinced customers and spectators to "really taste the wine" and " to find the goodness, the earthy aromas, the berry flavours, the vanilla in it" even many can detect and insist on its sourness and loads of tanine... it's getting ridiculous!

Edited May 15, 2008 by Samuian

[Rooo]

HighDiver,

The one statement I answered to, was Claude stating a foreigner can not own land.My answer was , if you set up a proper Thai co with a Thai national you can.The company does, not you as an individual.

Never mentioned preferential shares.

Now you can answer me this,if I follow the letter of the law,then I own 49% of the said company,which in turn owns the land.Am I correct? Did I say anything wrong?I hence own through the company 49% of the land.Yes or No?Now this is only a hyperthetical example,just trying to get my point across.This is following the letter of the Law.

Protection of your interests,share distribution,voting rights have never been mentioned.

Dear Roo.

I assume tat you are reffering as many of the posters to buying land and house for your personal use using a thai company.

to be what you are reffering to as a "proper thai company the shares in Thai hands must be held by Thais. real investors who realy are investors and not acting on behalf of the forigner with the intent of buying land for and on behalf and for the personal use of the forigner.. any case of which you set up a company using nominees is a violation of act 66.

if you arealy interested then please look at the following page it highlights some of the legal problems of taking the company route.

http://www.samuiforsale.com/landcode.htm#Land

to get this back on the original topic.

the prices of lands in Samui have been so expensive that buyers are now checking the laws and making sure of all legal matters before buying.

while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin.

You still haven't answered my question about legality.If I buy land through a Thai Company with Financial Thai partners( check on the 7 too),following the letter of the law is it legal?.Not so hard to understand is it now? The Thai government says it is.

This is why Thailand has Laws, Lawyers, Law Society, court rulings etc....

Then with second breath you condone this "while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin."

You honestly getting me to the point where I'm going to pull my wig off.

Edited May 15, 2008 by Rooo

[Rooo]

http://www.thaivisa.com/forum/index.php?showtopic=188930

What did I say in one of my past posts lol.

[highdiver]

HighDiver,

The one statement I answered to, was Claude stating a foreigner can not own land.My answer was , if you set up a proper Thai co with a Thai national you can.The company does, not you as an individual.

Never mentioned preferential shares.

Now you can answer me this,if I follow the letter of the law,then I own 49% of the said company,which in turn owns the land.Am I correct? Did I say anything wrong?I hence own through the company 49% of the land.Yes or No?Now this is only a hyperthetical example,just trying to get my point across.This is following the letter of the Law.

Protection of your interests,share distribution,voting rights have never been mentioned.

Dear Roo.

I assume tat you are reffering as many of the posters to buying land and house for your personal use using a thai company.

to be what you are reffering to as a "proper thai company the shares in Thai hands must be held by Thais. real investors who realy are investors and not acting on behalf of the forigner with the intent of buying land for and on behalf and for the personal use of the forigner.. any case of which you set up a company using nominees is a violation of act 66.

if you arealy interested then please look at the following page it highlights some of the legal problems of taking the company route.

http://www.samuiforsale.com/landcode.htm#Land

to get this back on the original topic.

the prices of lands in Samui have been so expensive that buyers are now checking the laws and making sure of all legal matters before buying.

while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin.

You've finally made an intelligent statement. "making sure of all legal matters before buying". If it were truly illegal, as you say, why would a buyer pay such an expensive price after doing expensive due diligence only to reach the conclusion that, as you suggest, is illegal.

if you did do a proper due diligence you would know that which ever you take using what ever technic at the end of the day buying land through a company put you at risk of breeching several acts including and not limited to the civil code, the comercial code. the land code and the FBA.

by the way those that realy did do a proper due diligence ended up not buying.

The fact is they wouldn't, they would do their due diligence, find out it is legal if correctly set-up and pay the expensive price and that is why land values on Samui are rising and yes, property is being sold everyday on Samui.

so if it is "corectly "set up and done so with the intent of getting a forigner to buy land is legal??? off course it is not!!!

under the land code even if the comapny is 100% thai owned but buying land for, on behalf or inplace of a forigner is a violation of numerous acts in the land code. how eaxctly is this leagal??

Are they all fools? Hardly think so. Most of them didn't attain their wealth by being fools.

you would be amazed of how some people are realy smart when it comes to buying property in samui

To date, not one single properly set up land holding company in Thailand (not just Samui) has been confiscated, period. I'm fairly sure the inevitable boogie man *Oh, but it's coming" argument from you will be forthcoming. but frankly it won't come until the Thai government changes it's current law. I have read your "light reading" many times, suggest you do some heavy reading and please don't offer up that highly transparent joke sight site samuiforsale as your evidence/

untill this day not one person in samui has been put on trial for not wearing a helmet while driving a motor bike.. some have been penalised and some fined but no one lost his drivers lsicence over this have they??

the fact that the thai goverment and oficer dont enforce the law does not legitimise it... it is still ileagal. and even if nothing will ever be doine in the future its still does not make it leagal.

since you claim to be in the know how then please do revert back with some serious evidence to what you claim.

I have posted links to specific laws and codes that outline the problem with the company route.. they were also disussed in leangth in the law forum and other postings in the past..as well as last Febuary in a seminar held in Bangkok with some of Thailands top lawyers and judges who were asked to pannel about this same question..you however. apart from being very sure of your self have posted nothing to support that buying through a company is legal!! it may be accaptable practice mainly by those gaining from it but it is no way legal.

[highdiver]

HighDiver,

The one statement I answered to, was Claude stating a foreigner can not own land.My answer was , if you set up a proper Thai co with a Thai national you can.The company does, not you as an individual.

Never mentioned preferential shares.

Now you can answer me this,if I follow the letter of the law,then I own 49% of the said company,which in turn owns the land.Am I correct? Did I say anything wrong?I hence own through the company 49% of the land.Yes or No?Now this is only a hyperthetical example,just trying to get my point across.This is following the letter of the Law.

Protection of your interests,share distribution,voting rights have never been mentioned.

Dear Roo.

I assume tat you are reffering as many of the posters to buying land and house for your personal use using a thai company.

to be what you are reffering to as a "proper thai company the shares in Thai hands must be held by Thais. real investors who realy are investors and not acting on behalf of the forigner with the intent of buying land for and on behalf and for the personal use of the forigner.. any case of which you set up a company using nominees is a violation of act 66.

if you arealy interested then please look at the following page it highlights some of the legal problems of taking the company route.

http://www.samuiforsale.com/landcode.htm#Land

to get this back on the original topic.

the prices of lands in Samui have been so expensive that buyers are now checking the laws and making sure of all legal matters before buying.

while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin.

You still haven't answered my question about legality.If I buy land through a Thai Company with Financial Thai partners( check on the 7 too),following the letter of the law is it legal?.Not so hard to understand is it now? The Thai government says it is.

This is why Thailand has Laws, Lawyers, Law Society, court rulings etc....

Then with second breath you condone this "while 6, 7 years ago the prices were so low it was worth buying even if it was made through "bogus" set ups as the low price was a real bargin."

You honestly getting me to the point where I'm going to pull my wig off.

Sorry if it was not clear enough....

share holders must be "true" share holders and not mominees. example this is a joint venture between thai and forign to build a commercial project.

the share holders are genuine and can prove the source of the money then it is legal for that company to hold land and utilise it as part of the companies business. if it is a real business company it is legal.

However... you your self have posted above"If I buy land through a Thai Company sugesting that you are the one buying the land and doing so through a company is not legal!!!

As you are a forigner and the land purchase was done in your behalf of aquiring land for a forigner...and alowing you to own land through this process of overriding the land laws it is a breech of the land code and as such the land purchase is ileagal.

to make it simple.. if you are a real share holder of a real thai company that conducts a real buisness and that company buys land for its business then its legit.

if you just want to build your house in samui and set up a company that has no other business apart from the intent of buying the land for you then it is not legit.

As per my post on 6-7 years ago. the prices were so low that forigners even though it was not legit took a chance at doing it this way.

the prices were so low it was worth the risk that if it turns out ileagal it would not be such a great loss..

when the Baht was 50 to the USD you could get a nice rai on the beach for 50,000 usd. now they want 500,000 for it and the risk is not the same.

Edited May 15, 2008 by highdiver

[wilko]

Just another step towards Samui's inexorable fate as a lump of concrete in the middle of the sea.

[Rooo]

Dear Roo.

Sorry if it was not clear enough....

share holders must be "true" share holders and not mominees. example this is a joint venture between thai and forign to build a commercial project.

the share holders are genuine and can prove the source of the money then it is legal for that company to hold land and utilise it as part of the companies business. if it is a real business company it is legal.

However... you your self have posted above"If I buy land through a Thai Company sugesting that you are the one buying the land and doing so through a company is not legal!!!

As you are a forigner and the land purchase was done in your behalf of aquiring land for a forigner...and alowing you to own land through this process of overriding the land laws it is a breech of the land code and as such the land purchase is ileagal.

to make it simple.. if you are a real share holder of a real thai company that conducts a real buisness and that company buys land for its business then its legit.

if you just want to build your house in samui and set up a company that has no other business apart from the intent of buying the land for you then it is not legit.

As per my post on 6-7 years ago. the prices were so low that forigners even though it was not legit took a chance at doing it this way.

the prices were so low it was worth the risk that if it turns out ileagal it would not be such a great loss..

when the Baht was 50 to the USD you could get a nice rai on the beach for 50,000 usd. now they want 500,000 for it and the risk is not the same.

Thank you, we got there at last

[mattias33]

But highdiver...

There is still alot of real-estate projects, mostly runned by farangs, on this island. Are you saying they all are illegal and in the riskzone of losing it all? Im not debating you, i just ask a question. To me it seems odd that all these investors would put all the money in without knowing what they are doing? I would say every expensive project on this island is farang-"owned". Wouldn´t you? And another point of notice is that it is not only the "blueberrys" and unexperienced boys that come here and invest. Also the bigtime realestate boys from back home is representated here. Like taxstone, profmill and so on. One would think that they know what they are doing..... .

Whats your comment on this?

[wilko]

...expensive concrete!