Land Office Now Requires Work Permit From Foreign Managing Directors

[george]

Land Office Requires Work Permit from Foreign Managing Directors

BANGLAMUNG, CHONBURI: -- Effective immediately the Banglamung Land Office requires the Managing Director signing on behalf of a Thai company to have a work permit issued by the Labor department and a Business visa issued by Immigration when signing for most transactions.

Work permits are required for foreign Managing Directors buying land, recording a Lease of more than three years or recording a mortgage on property owned by the Thai Company Limited (Co., Ltd.) which many foreigners use to buy property in Pattaya.

“The Land Office, thank God, right now does not require a work permit for foreign Managing Directors buying property so we can rest assured on purchases until the regulations become more stringent and include the necessity for a work permit in all matters relating to the land office,” said Drew Noyes of PAPPA Co., Ltd. which has a representative at the Banglamung Land office everyday on behalf of their clients.

“However, when it is time to sell, you must add a Thai Managing Director to your company recorded at the Department of Business Development so the Thai can sign the papers for the sale at the Banglamung Land Offcie and other Land Offices in Thailand. You do not need to be removed as Managing Director and you do not need a work permit in this case. We have helped many foreigners with property purchases, property sales, recording 30-year leases and mortgages to protect their investment in land and houses in Thailand,” The PAPPA Co., Ltd. Managing Director added.

Land Offices are regional and each is operated independently of the central government in some cases.

“What is true at one land office is not true at the others. They all have their own rules and it is important to deal with them day-to-day or check with them in advance to make sure what rules and laws are enforced against foreigners and which rules are not,” said Lalit Sadhvani of Property Management and Development Co., Ltd. on Pattaya Tai.

-- Pattaya Times 2010-02-07

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[BanTamo]

Good luck to you and your clients, PAPPA

[CRUNCHER]

Surprised this one has not had more responses. Too many shocked into silence/

I have been expecting something like this for a long time.

Is this the thin end of the wedge for company ownership of houses and condos? Probably, but it will still take a while yet. First lawyers will make money to find ways round it. The rules will be tightened again. ..and so on. Eventually no company can register property property if it has a foreign shareholder.

Then perhaps the next step will be to require a work permit for the person signing the annual company returns.

Good luck to you people who have gone down this road - hope it works out alright for you. For those that haven't gone down this road - don't.

[123ace]

This may help to slowly close this long standing loophole and divert buyers to condos. Thus reducing the over-supply.

[stgrhe]

I find the new order, if it is real that is because Pattaya Times has not the best reputation, being rather toothless as registration of land with new companies apparently still can be done.  

[wisdomwizard]

Question... where does that leave the retiree wanting to locate here?

Answer...... In Cambodia, Laos or Vietnam!

[yankee99]

I am not sure i understand the whole statement...I can say that i just did a real estate transaction on friday and nothing has changed from normal