Thinking About Investing In Some Land In Thailand.

[johnsmiththai]

Hi everyone,

 I have some questions about investing in land in Thailand, but I would sooner it be a private conversation. If you can help, can you pm me?

Thanks!!

[Crossy]

Are you Thai?

If not you can forget owning land in Thailand

[thomo]

As a non-Thai you cannot own land in Thailand, unless you invest around 40,000,000b then you can buy one rai. (a legal loophole created for embassies).

[massein]

As a non-Thai you cannot own land in Thailand, unless you invest around 40,000,000b then you can buy one rai. (a legal loophole created for embassies).

Now if you want to just donate the purchase of some land to a friend . They would appreciate it

Ifyou expect a return in captical forget it.

[tolsti]

Seeing as there is so much advice on this forum regarding the law, the regulations and the practicalities of doing so....setting aside the sob stories and the murders it would seem that there are still some who will fall for this dream. I fear that Penal Code 419, has sent a fisherman....beware at your own peril.

Unless you have a spare bridge needing someone to 'live in' and look after it.

Edited October 12, 2010 by tolsti

[johnsmiththai]

There is no legal way? What if a person sets up a company to own the land and the shares are bought in the company? Or through a proxy or a legal representative?

I'm not thai, I like the country though.

Can I pay for and legally own the house though? Does that give some legal footing on the land beneath?   Or pretty much without exception, a foreign person will never own land in Thailand?

[johnsmiththai]

 Wait a second, I'm not sure what penal code 419 is, but that doesn't sound pretty or comfortable!!

 I, stupidly, have invested in some land  in Thailand . I have now done enough work to pretty conclusively prove it is a lousy investment (as in really badly put together). I'm needing some people with local knowledge to post their opinions on the website where I have collected everything to suggest that the actual land is pretty terrible as well. No names or checking ip addresses, just an authentic story. In return, I will give you access to some very juicy reading   that took me a fair amount of time to collect. Almost none of the postings are mine, they have all been collected from the internet and seen together are fairly funny and depressing. Close to 250 of them. But it is only people who I can trust can get access. I need to convince others that we have all been had, the guy is still talking the talk and he is really very convincing.... so the posts will be public, but I'll give you access to the private threads. I only need four or five people.

I really don't want to piss anyone off, so I really appreciate the responses. I don't want the name mentioned for fear of being seen as inappropriately behaving on the forum.

I keep falling for fairy tales.... 

[thomo]

I keep falling for fairy tales....

You'll be loved in Thailand.

[johnsmiththai]

I have to ask, because I see it a lot in the names in Thailand and I'm fairly familiar with the word in English What does "porn" mean in Thai? I see it a lot in names. Does it have a meaning?

Edited October 12, 2010 by johnsmiththai

[thomo]

Its a status thing. Once they've done a porn shoot they can legally add it to their name. This raises their status due to the money made from it. Just a status thing really.

[johnsmiththai]

Hi everyone,

  I am confused. I called up a lawyer today. He was a young guy, I kind of tricked him because he was new and didn't know what I really wanted. We chatted, and he seemed like a really nice guy. I saw the opportunity and so asked him if it was legally possible for a foreigner to own land. He said that it was, but that the contract had to be written well enough to give the foreigner clearly more power. He said that as long as the majority of the money came from the foreign individual, they of course couldn't own more than 49% of the shares, but if they had put in most of the money and the contract was well-written enough, the foreign person had control of the land. He said that most problems concerning foreigners and land arose due to the foreigners not taking enough care to ensure legal protection. Was he correct? It seems like there is confusion, or was he just being a lawyer? He was young and new and certainly didn't seem like he was lying (although he was a lawyer...).

[Khun Jean]

He is just repeating what he has learned. Can sound really convincing when he thinks he is telling the truth. Still incorrect though. It is not how well it is written, it is how much money the Thai shareholders put into that company.

No nominees allowed. If it was that simple for foreigners to own land there would not be any interesting land left in Thailand.

Edited October 13, 2010 by Khun Jean

[trogers]

There is no legal way? What if a person sets up a company to own the land and the shares are bought in the company? Or through a proxy or a legal representative?

I'm not thai, I like the country though.

Can I pay for and legally own the house though? Does that give some legal footing on the land beneath? Or pretty much without exception, a foreign person will never own land in Thailand?

You can try doing what you suggested in Cambodia and Vietnam. And if you have deep pockets and a lion heart, Singapore may be considered as well...

[Tanaka]

There is no legal way? What if a person sets up a company to own the land and the shares are bought in the company? Or through a proxy or a legal representative?

I'm not thai, I like the country though.

Can I pay for and legally own the house though? Does that give some legal footing on the land beneath?   Or pretty much without exception, a foreign person will never own land in Thailand?

You can own a house. If you are married to a thai lady, you can buy land for her and you can rent it for 30 years from her with a lease or a usufruct. Forget forming a company to own land. It is illegal and you stand the risk of losing the land.

And do not buy land in the lady's village. There are many stories about western men who built their houses on the wife's land in the village. When the house was finished, she changed the locks and moved in with her family (and/or husband). In that situation, would you claim your right to the house in that surrounding even if you could maintain your claim? Remember, do not invest more money here than you can afford to walk away from on short notice.

If you want to live here and can do that legally, you can buy and own a condo. If you want a house, why not try and find one to rent?

[Khun Jean]

If you are married and buy a house it will be divided 50/50 when divorcing. The land will be 100% hers and she can void the contract with her husband because of the divorce leaving the husband with virtually nothing because a house without land is not worth much.

Because of this it is financially very attractive for a Thai female to dump her husband. Good and loving Thai females excepted. Only the one married to her should make a judgement if a marriage will be long lasting and worth the "investment". No person on an internet forum can do that.

Just know the rules and risks and then make a decision.

Edited October 17, 2010 by Khun Jean

[David006]

If you are married and buy a house it will be divided 50/50 when divorcing. The land will be 100% hers and she can void the contract with her husband because of the divorce leaving the husband with virtually nothing because a house without land is not worth much.

Because of this it is financially very attractive for a Thai female to dump her husband. Good and loving Thai females excepted. Only the one married to her should make a judgement if a marriage will be long lasting and worth the "investment". No person on an internet forum can do that.

Just know the rules and risks and then make a decision.

Good summation ..... it's all a gamble in LOS .....but then again there has never been a western divorce settlement where the the ex and her @#$! lawyer gets everything (house,car,dog,budgie,pensions etc)plus an ongoing "stipend" ......has there...???

[johnsmiththai]

Thank you all for your replies. It is a very enlightening series of messages. I think it's annoying that the number of people peddling that 'you can own it through a company' crap are still doing it. It causes a lot of misinformation.

I guess in the west it's about that time for peole to start saying, "Merry Christmas, everyone".

Again, thank you very much for the advice.

[stgrhe]

Thank you all for your replies. It is a very enlightening series of messages. I think it's annoying that the number of people peddling that 'you can own it through a company' crap are still doing it. It causes a lot of misinformation.

Thailand is Thailand and enforcement of laws are not up to Western standards and previously many buyers have gone the company route. However, the authorities are trying harder now to tighten the loopholes so if you, the OP, opt to follow that path too you should be aware of the risks. I think that is what many poster are trying to say. And remember, just because the enforcement of laws here is somewhat slack, it doesn't make it legal to own land through nominees.

[thomo]

You can own a house. If you are married to a thai lady, you can buy land for her and you can rent it for 30 years from her with a lease or a usufruct.

Actually you cannot officially buy a Thai person land.

It is an obscure law that is not usually enforced (yet), but came to light about a year ago when a Phuket authority announced it. The land can be confiscated if bought by a foreigner, for a Thai, for the purpose of the Foreigner living there.

The director general of the Land Department has reiterated that foreigners using Thai nominees to buy land anywhere in the country will have their land title deeds revoked if caught – even if the nominee in question is a lawfully wedded spouse.

Land Department Director Anuwat Meteewiboonwut made the comments during a recent stop in Phuket as part of a nationwide inspection tour of 30 provinces.

“If the Thai spouse has enough money to buy the house that is fine, but if the Thai has no money and uses money given to him or her by a foreigner to acquire property, that is against the law. If we check and find out later that a Thai person has been using money from a foreigner to buy land anywhere in Thailand, we will revoke title deeds,” he said.

http://www.personalthailand.com/wordpress/warning-your-thai-wife-can-not-own-your-land-in-thailand/

However: If this is the case, for anyone who bought their wife land and were then removed by her and her family, perhaps contact the correct authorities and get the land revoked as it is illegally owned.

Edited October 24, 2010 by thomo

[thomo]

If you are married and buy a house it will be divided 50/50 when divorcing. The land will be 100% hers and she can void the contract with her husband because of the divorce leaving the husband with virtually nothing because a house without land is not worth much.

Completely untrue, if one is smart.

Plenty of companies along the highways selling prefab wooden houses. Like these for example.

thailannahome.com/PricesTraditional.html

You buy it. You own it. You get kicked out. You contact the police with the receipts, and the company, they come to dismantle it and move it to your new GF's land.

She is left with the land, that if you bought, you should be able to legally have revoked, see my above post.

Thailand is easy, you just have to be smart and think a little bit. :jap:

Edited October 24, 2010 by thomo

[Khun Jean]

If you are married and buy a house it will be divided 50/50 when divorcing. The land will be 100% hers and she can void the contract with her husband because of the divorce leaving the husband with virtually nothing because a house without land is not worth much.

Completely untrue, if one is smart.

Plenty of companies along the highways selling prefab wooden houses. Like these for example.

thailannahome.com/PricesTraditional.html

You buy it. You own it. You get kicked out. You contact the police with the receipts, and the company, they come to dismantle it and move it to your new GF's land.

She is left with the land, that if you bought, you should be able to legally have revoked, see my above post.

Thailand is easy, you just have to be smart and think a little bit. :jap:

I recently started a company building mobile homes, our first demo houses will be ready in about 6 months.

Now only make people more "smart", i would say "informed", so they see the positives about buying a home that is not fixed to the land.