You Can't Buy A House?

[sunreader]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Does anyone know of anyone anywhere loosing their home having bought one on this basis?

I don't mean loosing it to a Thai partner gone bad....just a farang buying a house then a Thai official knocking on the door saying "your not entitled to own a home in Thailand and I'm now taking it off you".

Has this ever happened?

[Naam]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Does anyone know of anyone anywhere loosing their home having bought one on this basis?

I don't mean loosing it to a Thai partner gone bad....just a farang buying a house then a Thai official knocking on the door saying "your not entitled to own a home in Thailand and I'm now taking it off you".

Has this ever happened?

no!

[quiksilva]

The problem lies in the actual process of recording the title transfer at the land department. As a foreigner you are not permitted, under almost any circumstance, to own land.

The exceptions being to BOI promoted companies and another avenue where you need to invest 40 million Baht in government bonds for 5 years and secure approval of the interior minister.

Companies set up using nominee shareholding structures are illegal.

This forum is packed full of useful information regarding this matter, search and you will find.

[think_too_mut]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Yes, those expensive villas in Phuket or Samui. Foreigners buying them, what are they actually buying?

Lease rights from some Thai company that owns the land?

[think_too_mut]

All those real estate professionals, no takers to explain?

Some have their Beta-sites here for testing.

[12DrinkMore]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Does anyone know of anyone anywhere loosing their home having bought one on this basis?

I don't mean loosing it to a Thai partner gone bad....just a farang buying a house then a Thai official knocking on the door saying "your not entitled to own a home in Thailand and I'm now taking it off you".

Has this ever happened?

no!

I have never, ever, heard of a Farang loosing money "invested" in land/property in Thailand. Nope NEVER!

[donx]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Does anyone know of anyone anywhere loosing their home having bought one on this basis?

I don't mean loosing it to a Thai partner gone bad....just a farang buying a house then a Thai official knocking on the door saying "your not entitled to own a home in Thailand and I'm now taking it off you".

Has this ever happened?

no!

I have never, ever, heard of a Farang loosing money "invested" in land/property in Thailand. Nope NEVER!

He didn't say that farang never lose money, what he is saying - and as far as I have ever heard, he is correct - is that no Thai government official has taken land and house away from any farang that bought a property via a controlling interest in a Thai company. Yes, farang have been ripped off by lawyers, developers, etc. This is not what the OP is asking.

And now that the number of share holders is down to three, it seems to me even more feasible for farangs to go this routine. I would be careful to ensure that the Thai company actually does do some business and that the Thai shareholders can prove that they could afford to invest in the Thai company. Note that I'm not planning to ever do this as I prefer the simplicity (but also the very real risk) of having any Thai property I purchase in the name of my Thai spouse. I believe that in reality I am more likely to lose this investment than someone using the Thai company structure. For me, though, I don't invest much here and I don't want the complications that arise from being the director of a Thai company (paying taxes, providing documentation, etc.) If I end up living in Thailand, this all may change.

[lazeeboy]

if a farang had lost his house because the government had taken it back because the company that owned it wasnt legit ,it would be in the newspapers or on a web site like this..

[johnnyk]

You can own a house/structure in your name or a company name.

You can't own land in your name.

quiksilva is right, search engines are useful, try them.

[Naam]

It seems farang can't buy a house in Thailand or can't own the land or something, but there are plenty of homes for sale and farang buying them.

Does anyone know of anyone anywhere loosing their home having bought one on this basis?

I don't mean loosing it to a Thai partner gone bad....just a farang buying a house then a Thai official knocking on the door saying "your not entitled to own a home in Thailand and I'm now taking it off you".

Has this ever happened?

no!

I have never, ever, heard of a Farang loosing money "invested" in land/property in Thailand. Nope NEVER!

He didn't say that farang never lose money, what he is saying - and as far as I have ever heard, he is correct - is that no Thai government official has taken land and house away from any farang that bought a property via a controlling interest in a Thai company. Yes, farang have been ripped off by lawyers, developers, etc. This is not what the OP is asking.

what input can you expect from people who "drink more" and do not comprehend what they read?