A Delaware Company Can Own A Home ?

[JohanBKK]

Hello,

Can i own a thai home with a delaware company ? How do i can own a home ?

Thanks.

[trajan]

by "thai home" do you mean a condo unit in Thailand?

if so, yes, a foreign company can own a freehold condo unit as long as that unit is in the 49% foreign quota of the condo project (and the foreign company can show the necessary foreign exchange forms evidencing remittance of foreign currency into Thailand for the condo purchase and can show the necessary authorizing corporate docs (board resolutions. etc.) duly notarized/consularized etc. ...)

I heard of some people using their own Cayman, BVI, Channel Islands (Guernsey/Jersey), Turks, Mauritius etc. holdcos to own assets (like condo units).....I would imagine they do this to (hopefully) legally minimize taxes and asset scrutiny on worldwide holdings??

[on a completely separate note, for land freehold purchases, I've heard of those kinds of holdcos owning shares in Thai holdcos which, in turn own the land... you can debate whether or not this is technically legal, but it occurs nevertheless]....

[ThaiLawOnline]

I believe I understand your question... a simple answer would be NO, except for condos, but I will try to answer a little more.

Delaware is famous to register companies. It is recognized as some of the most corporate-friendly state and one of the best place to incorporate a Company in USA. Over 60% of Fortune's 500 companies and 50% of the companies registered at the New York Stock Exchange are companies from Delaware. They also offer Anonymity of names and addresses of shareholders, there no minimal investment (just 1,000$ US I believe), no obligation to have a bank account in delaware, headquarters can be anywhere in the world, etc. There are many benefits, tax, number of shareholders, you can register a company in 24 hours, etc.

And in Thailand, Americans can benefit of the "Treaty of Amity" and do business as Thai companies. But there are requirement under the treaty of Amity and I am not sure if this treaty is expired or not.

There is a lady at the American Embassy, Ms. Kritsananan, that can explain you all the process. Last time I talked to her was in January. I hope she is still there...

However, it doesn't you the right to OWN land. Unless you invest 40 million baht, you have a BOI approval, etc. Normal answer to your question is NO for the land.

But foreigners can own a building ! Not the land, but structures on top. And there are many discussions about that on this forum. Now, it's getting complicated.

And Trajan explained you about condos.