Sinsod And Tax

[jumbo]

I understand that big brother in Thailand is checking where the money comes from when our ladies want to buy property.

So suppose I use the sinsod as a way to give her money.....like a few million... would it be taxed??

[InterestedObserver]

There is no gift tax imposed in Thailand. But a few million baht just turning up in your girl friends bank account would certainly raise questions if she is suspected of being your property nominee.

Edited March 11, 2010 by InterestedObserver

[MikeyIdea]

No tax on gifts,

Isn't that a bit vulgar though, laundering money using your own daughters wedding...

[jumbo]

There is no gift tax imposed in Thailand. But a few million baht just turning up in your girl friends bank account would certainly raise questions if she is suspected of being your property nominee.

That's why I want to use the sinsod as an excuse.... not just give her

[jumbo]

No tax on gifts,

Isn't that a bit vulgar though, laundering money using your own daughters wedding...

http://www.topcharoen.co.th/html/

good place to buy reading glasses

[Mario2008]

If I recall from the recent discussion about that, it is no problem giving your wife a (wedding) gift, such as money for a house. But make sure to do it legal and openly, so you cannot be accused of using a front.

[jumbo]

If I recall from the recent discussion about that, it is no problem giving your wife a (wedding) gift, such as money for a house. But make sure to do it legal and openly, so you cannot be accused of using a front.

thx Mario

Would by banktransfer be legal and openly??

[MJo]

Go to the land office to sign a document saying it's all her's and bought with her money and that you don't have any claim to the property ever.

As there is no gift tax it does not matter if you gave her money...

Now that's legal and open if you ask me. And actually a requirement if the purchaser is thai married to foreigner.

Just don't kick her out and take control of the land using her as nominee and you are fine.

[YanTree]

Paying largest sin sod in history might raise some eyebrows

[Mario2008]

But it would be legal to do that. There is no problem with giving your wife a gift, including (money for) a house. The governemtn only wants to be sure that you will not have a claim on the land. That is why you sign the documents and one could make a contract stating the money is a gift with no strings attached.

[Penkoprod]

Paying largest sin sod in history might raise some eyebrows

Not to mention raising the expectations of future prospective parents of TGFs, to an outlandish level

Penkoprod

[jumbo]

Paying largest sin sod in history might raise some eyebrows

Not to mention raising the expectations of future prospective parents of TGFs, to an outlandish level

Penkoprod

Mmm. the largest Sin Sod in history huh, so giving her the money and letting her put the land and everything in her name would not raise eyebrows or would be better according to you???

Thx for your worries about my financial situation and th expectation of my future wife her parents, but didn't you forget to mention the rest of the family as well.... and her friends that will need loans???

Oh boy I am going to be poor very soon......

[MJP]

Paying largest sin sod in history might raise some eyebrows

Not to mention raising the expectations of future prospective parents of TGFs, to an outlandish level

Penkoprod

Mmm. the largest Sin Sod in history huh, so giving her the money and letting her put the land and everything in her name would not raise eyebrows or would be better according to you???

Thx for your worries about my financial situation and th expectation of my future wife her parents, but didn't you forget to mention the rest of the family as well.... and her friends that will need loans???

Oh boy I am going to be poor very soon......

Don't joke about this stuff. It does happen . . . to most.

Please take care.

Regarding land and houses, look into usufruct agreements which can be attached to the deeds at the land office. Perhaps not a time unlimited usufruct but certainly a 30 year agreement would likely be acceptable. This means you have use of the property for the period stated in the document. it also renders sale of the property impractical and worthless.

Again, please protect yourself and remember this, you don't invest in Thailand . . . you make a donation.

Edited March 19, 2010 by MJP

[jumbo]

Don't joke about this stuff. It does happen . . . to most.

Please take care.

Regarding land and houses, look into usufruct agreements which can be attached to the deeds at the land office. Perhaps not a time unlimited usufruct but certainly a 30 year agreement would likely be acceptable. This means you have use of the property for the period stated in the document. it also renders sale of the property impractical and worthless.

Again, please protect yourself and remember this, you don't invest in Thailand . . . you make a donation.

I think I know what I want and understand the donation part... thanks for the ip anyway...

tax is/was my main worry