How To Own A Thai Company.

[doppa]

ok people, for those who dont lready know, we all know its impossible under current thai law , as foreigners we cant own land, and the only way to buy an appt. for instance is to have a thai company, of which 51% is owned by nominated thais, i think now you only need 2, and the rest ae owned by yourself. [ of course we understand we can put it into out thai wives etc, ]

some of you might be aware of this solution to owning a thai company, and i apologise if thats the case.

but here goes, what you do is to set up a 'BVI' company that purchases the thai company, with yourself being the total owner, of both the bvi company, which in itself is the owner of the thai company, sounds simple doesnt it.

and by all accounts it is, the thai govt. won't close this ' loophole' because it apparently would ostrisize them from the rest of the buisness world, who have used this method in many countries throughout the world.[ but i guess that hasnt stopped them in the past]

i have 3 names, english, american, australian, who do this as their buisness, it costs around 800us dollars to do it, if you want to contact them, send me a message, and i'll be more than hapy to help.

havnt done it yet myself, as i'm in the process of selling my apt, but if i ever do buy in thailand again, i would certainly want to get more information, and the absolute guarantee that its legal.

please correct me if the info.is not exactly spot on, but its something that needs to be investigated for the future.

[WinnieTheKhwai]

the only way to buy an appt. for instance is to have a thai company

You can own an apartment (condominium unit) just fine. No need for companies or anything.

For a house, just let your wife own it. Houses are cheap anyway.

Edited May 10, 2009 by WinnieTheKhwai

[threedot]

I'm not 100% sure on the local legalities involved, but I think it will cost you a lot more than 800 USD to facilitate what you're suggesting. BVI incorporation will cost you more than what you've quoted, especially if you use a formation service, then you've got an annual fee and obligations that derive from company formation (albeit BVI requirements are not very stringent) plus you would almost certainly need a knowledgeable lawyer in Thailand to complete paperwork this end.

I don't doubt that it's possible but really the only benefit I can see for using an BVI company would be tax and accounting benefits since I think I'm right in saying that that a Thai company is only a thai company if the majority of its shares are owned by thai nationals. If they're not (majority owned by an offshore company for example) then the company is no longer a thai juristic entity and relieves its right of 100% legal land/property ownership.