Buying Property

[thillbaker]

I am British and my wife is Thai. I have been told I can own a property in Thailand but not the land it is on, seems ok to me, just one thing, I have to form a company, does anyone have any advice they can give me on this one.

Cheers

[The_Doctor]

My advice is look at the numerous topics on the subject already in the forum!!!

And look up the word 'Usufruct'...

[Tornado]

I am British and my wife is Thai. I have been told I can own a property in Thailand but not the land it is on, seems ok to me, just one thing, I have to form a company, does anyone have any advice they can give me on this one.

Cheers

<{POST_SNAPBACK}>

It seems you are armed with the knowledge already, just set up the company and put the house and land into it. If you trust your wife let her buy it and put it into here name - check on what she can own since she has your name - thnigs change once she takes your surname

[thillbaker]

Thanks for the advice, my wife has same name as me so further research required.

Thanks

I am British and my wife is Thai. I have been told I can own a property in Thailand but not the land it is on, seems ok to me, just one thing, I have to form a company, does anyone have any advice they can give me on this one.

Cheers

<{POST_SNAPBACK}>

It seems you are armed with the knowledge already, just set up the company and put the house and land into it. If you trust your wife let her buy it and put it into here name - check on what she can own since she has your name - thnigs change once she takes your surname

<{POST_SNAPBACK}>

[jcicero]

If you need any more information regarding owning property, contact me. I'm a Realtor here in Phuket and have experience and correct information. Email at [email protected]

Take care,

Thanks for the advice, my wife has same name as me so further research required.

Thanks

I am British and my wife is Thai. I have been told I can own a property in Thailand but not the land it is on, seems ok to me, just one thing, I have to form a company, does anyone have any advice they can give me on this one.

Cheers

<{POST_SNAPBACK}>

It seems you are armed with the knowledge already, just set up the company and put the house and land into it. If you trust your wife let her buy it and put it into here name - check on what she can own since she has your name - thnigs change once she takes your surname

<{POST_SNAPBACK}>

<{POST_SNAPBACK}>

[Veritas]

If I recall correctly, you do not need a company to own property, only to own land. You lease the land off your wife on a 30 year lease with the option to renew for 2x30 years. You owning the house makes it harder to get rid of you if you split up as she would have to buy the house off you. Many people set up a company and are happy with that route, but you need to submit company books every year and it is still basically illegal.

The information about the wifes name used to be correct but I believe it no longer applies.

Have you thought about renting? there are many who think that there is going to be a crash soon, certainly new developments seem overpriced to me.

[taxexile]

Thanks for the advice, my wife has same name as me so further research required.

Thanks

if you got married outside thailand and if her thai passport or thai identity card are still in her maiden name i.e. the marriage has not been registered here , then land can be bought in her name without any difficulty , as far as the thai authorities are concerned you dont even exist.

if the marriage has been registered here and the land has been bought in her name then you may have to sign something to the effect that you will never ever make any claim to ownership or rights over the land or property.

the land department levy a charge to authorise the leasing option , and the forming a company route is barely legal , although many go this route.

the company rules can be changed /altered at any time if the authorities wish.

especially if its a non trading company set up for the express purpose of owning land.

setting up these schemes and arranging yearly accounts are the bread and butter for many agents and lawyers.

if you go this route , make sure whoever is advising you and arranging things know exactly what they are doing so as to avoid problems that may arise in the future.

ascertaining this to your satisfaction is well nigh impossible.

i think all i have written is correct.

Edited June 26, 2005 by taxexile