Protecting One's Assets

[Dazzler]

I gather that when marrying a TG a farang can list his assets on the back of the marriage document and keep them should the marriage fail.

Thereafter, all acquisitions, salaries etc.. made during the marriage period are owned jointly and belong to both parties.

I hear it is possible to set up a company and purchase land/property/assets in the company's name in order to protect them.

Are there any restrictions on setting up a company merely for this purpose? Obviously some stealth may be required, but I'd imagine the company would need to actually trade something or provide some service? Then there would be the matter of finding the requisite Thai partners....

Is this the best way, or are there any better or easier solutions?

Thanks in advance....

[paulfr]

It is really hard to say without knowing your wealth level.

If you are really loaded (>40million Baht) it won't matter unless you expect to make another 40milB and don't want her to have half.

If you have just enough to live it wont matter either as you cannot get blood from a stone.

So if you are in between, list your assets (so they are protected) and be a man and let her have half of what you acquire during the marriage. That is fair.

If you want to give less than that, then stick to bar girls and temporary mia nois. It'll be much cheaper.

[david1]

I gather that when marrying a TG a farang can list his assets on the back of the marriage document and keep them should the marriage fail.

Thereafter, all acquisitions, salaries etc.. made during the marriage period are owned jointly and belong to both parties.

I hear it is possible to set up a company and purchase land/property/assets in the company's name in order to protect them.

Are there any restrictions on setting up a company merely for this purpose? Obviously some stealth may be required, but I'd imagine the company would need to actually trade something or provide some service? Then there would be the matter of finding the requisite Thai partners....

Is this the best way, or are there any better or easier solutions?

Keep the assets out of the country and keep them to yourself.  It's much safer.  All I have heard is anything you have in Thailand stays with the woman in a divorce.  After all it is her country and she is probably not as well of as you.  As a former banker that has seen many people loose everything, it is better safe then sorry.  You never know in life, especially in LOVE!!!!!!!!!!!!!!

Thanks in advance....

<{POST_SNAPBACK}>

[theviking]

Keep the assets out of the country and keep them to yourself.   It's much safer.   All I have heard is anything you have in Thailand stays with the woman in a divorce.  After all it is her country and she is probably not as well of as you.   As a former banker that has seen many people loose everything, it is better safe then sorry.   You never know in life, especially in LOVE!!!!!!!!!!!!!!

Thanks in advance....

What a GREAT! advice! And i guess you allso know thai laws quite well?

I thought everybody's mom thought their kids not to belive everything what they heard.....and i guess you have heard a lot shit!

In a divorce, everything braought into the marriage will be split 50/50, and everything braught into marriage by you (or her) will still be on youre (hers) hand.

Not so different from the west....is it?

[SandDragon]

I hear it is possible to set up a company and purchase land/property/assets in the company's name in order to protect them.

Are there any restrictions on setting up a company merely for this purpose?

Thai companies need to be majority owned by Thai nationals so you could find yourself with other trust issues, ie trusting your Thai 'silent' partner. There are legal means of addressing this but you may want to consult more authoritive sources than this forum, expecially if you are talking about big bickies.

[marquess]

Does that mean that I ought not to puchase that Bosendorfer I had my eye on? For should we divorce she could claim half of it, even though it would have been purchased purly using my own funds?

[Dragonman]

Yes,and this being Thailand your half will mean just the music stand.

[IMA_FARANG]

Yes,and this being Thailand your half will mean just the music stand.

<{POST_SNAPBACK}>

It is possible (at least it was 20 years ago, the law may have changed) to get a mutually agreed uncontested divorce in Thailand.

It requires an agreement between both parties on how property will be devided. Both parties simply agree to devide property and sign a divorce agreement. By signing the divorce agreement any later claim to property is voided.

However, good luck on getting any halfway intelligent TG to agree to such a thing.

The only chance is to have her find another sucker that she thinks can get her more. She may then agree to pass on claiming your property for the chance of richer pickings later on.

In my case (I speak from personal experience here) I was a poor American, and the girl had her eyes on some rich German. (He was 35 and still lived with mommy). Promised her a German visa, money, and a car. So she let me off the hook to go for the big score. Went to Germany with that guy.

IT WAS THE BEST THING THAT EVER HAPPENED TO ME.

Edited May 14, 2005 by IMA_FARANG