Interesting Re Article-international Herald Tribun

[craigt3365]

I saw this article and thought it might be interesting to some of you. Also, notice the link on the left about expats and property in Bangkok. FYI!!!

Buying Abroad

[Sumitr Man]

To buy a house or land, or an apartment in a building that has exceeded its quota of foreign ownership, a Thai company structure is required. Again, 51 percent of the company would have to be owned by Thais but, with legal advice, it is possible to arrange foreign control of such a company.

With the international press now advertising ways around the foreign land ownership prohibition, am I the only one who thinks it may not be too long before Thakins & Co., Ltd. see this as being "bad for Thailand's image" with a crackdown to follow?

SM

[JimmyGreaves]

Maybe the other way round. Giving more power to foreign ownership.

Who Knows? TIT

[Erwin1011]

I appears to me that these are definite indications that the property market in Thailand is not as rosy as many wants us to believe.

Noticed the amount of free brochures and promotionals coming with the newspapers? Seeing the adds in the papers moving from black and white to full color? See the adformationals in the business sections of the papers? Noticed the government ideas about reducing the transfer tax for second hand appartments and houses? Noticed BBL now giving mortgages to foreigners? See the sudeen increase in street posters in the Sois for condos for sale? Noticed that a lot of new condos are going for 3.5 mio, exactly exactly the amount required for a farang to get his residence permit?

Noticed the lack of bidding on the latest auctions?

Telling tales ....

[barryofthailand]

Just a short note. If you have a working company in Thailand, their is nothing wrong with purchasing a home and putting it in your company name. On the otherhand if you listen lawers that tell you , you can form a company to purchase property you might have a problem down the road. This is circumventing the law.

Barry

[samran]

Maybe the other way round. Giving more power to foreign ownership.

Who Knows? TIT

<{POST_SNAPBACK}>

Its electoral suicide. The average Thai still thinks that the evil foreigner will come and take that physical block of land back to their home country.