Really Need Help

[jmcw]

Hello,

I have a few serious issues to resolve soon.... very soon!..... my house which is landed, is owned by a company (me & a Thai businessman) & he is pulling out & I cannot find a replacement. It could of course be my Thai girlfriend, but I would rather take care of her in a controlled way... there is also my visa.. I had a multi-entry one year visa through the company, but as I no longer work for the company, my visa runs out next month then I can only get 30 day ones...

Has anyone got any experience with this that can help me?

Thanks in advance

Edited April 15, 2010 by jmcw

[lopburi3]

You already know you do not qualify for any special visa status - you could travel to Perth with GF ID can home register to obtain new visa but that is closest place for you it seems. As your 'apparently' gray land ownership seems to be the real issue will move this to real estate.

[InterestedObserver]

Your Thai business partner needs to transfer his shares in the company to another Thai rather quickly. You cannot close the company without liquidating the house. Visa issues are the least of your problems. You have very few real options.

[Zstarx]

It really is amazing that people continue to put themselves in positions like this.

See a lawyer and I'm sure for the "right" money they will be able to help you.

[jmcw]

Thanks guys, yes my business partner has sprung it on me and the guy I had lined up to take over has gone AWOL.

Gonna be meeting a lawyer, hopefully get it resolves somehow, pain in the ass really, I dont need this kind of shit right now.

[jmcw]

Your Thai business partner needs to transfer his shares in the company to another Thai rather quickly. You cannot close the company without liquidating the house. Visa issues are the least of your problems. You have very few real options.

So what would happen to my house if he just pulled out? or could he not actually do that until house is sold?

Maybe I should sell the house ASAP,

[Khun Jean]

'Pulling out' is not that easy, how does he think to accomplish that?

About how much money is the departing 'business partner' demanding?

If it is nothing then it should not be that difficult to transfer the shares to another. With you keeping the majority of the votes there is not much risk there. Finding someone willing is a trust issue.

Is this a recently setup company, or did you setup one with 7 shareholders. if that is the case shares can be divided among the other shareholders as the current rules demand fewer shareholders.

If that fails sell the house to a Thai (for example 1.000.000 baht), pay the taxes and get a 30 year lease for 1.000.000 baht. Add a clause that you have an transferable option to buy the house back for a certain amount like 100.000 in the first year and every year later 100.000 more. Good deal for the Thai and for you some 'security'.

Edited April 16, 2010 by Khun Jean

[jackdawson]

ah, the joys of homeownership in the kingdom...

[InterestedObserver]

So what would happen to my house if he just pulled out? or could he not actually do that until house is sold?

Maybe I should sell the house ASAP,

Who is going to buy a house owned by a company with management/shareholder issues? Not to mention the fact that the company, as a possible nominee landowner, could be illegal in the first place. Whose money actually paid for the land and built the house?

Edited April 17, 2010 by InterestedObserver

[Kf6vci]

You have options. I would book an Air Asia flight to a cheap destination like Saigon or Penang (add $ 45 for VISA related costs to Saigon). That gets you another monthy.

Apply for a 2nd passport and have a mate send that with a VISA application with photos and payment and a SASE to the honorary consulate in your home country. 4 x 90 day VISA costing 120 Euros in Germany.

An acquaintant took his pension documents to a honorary consul and had him certify his income. then he obtained a VISA which can be renewed or extended annually. I believe Siam Legal is sponsoring this website. Call and ask them! Don't despair yet.

Can you just SELL the house? Plenty of properties are for rent...

Chris