I was wondering how difficult it would be as an American man to get a loan for 15 million baht to build an apartment building? If i have 2 million in the bank can I get the loan. I'm not married yet but if I do will I own the property 50 percent if a divorce occurs? If I have a son can i transfer the assets to him? These things usually shouldnt me the incentives of marriage but we dont get many rights as a foreigner in thailand!

Very very unlikely a bank in thailand will lend you 15M baht. You might have more of a chance if you can put up 50% of your own money.

JH

The same rules apply to financing throughout the world. In this post GFC time, you will need some deposit and 100% presale of the building. However, as you cannot own the land, no bank will advance you the money. This would be the same in the US. If you can't own the property you can't mortgage it. There are ways to overcome this. Specifically, start a business with yourself and 7 (I think) Thai nationals. They will hold 51% of the stock. However, you can write the company's charter to allow your 49% to hold 93% of the votes and the other shareholders can be limited to the balance. However with only 2 million baht you are a long way behind the eight ball. If you are determined, you should be able to get the project up and running, but credit rules and interest rates on casual credit (such as for builder's supplies) can be over 10% per month (thats over 120%pa) and deadlines, penalty clauses and such will not hold much clout here.

I admire your thinking, but I would firstly see a solicitor/lawyer with strong US connections to navigate your way through the property aquisition and financing morass. Then be prepared for a lot of obstacles, a lack of enthusiasm from the local building teams and plenty of suicide days.

Re divorce: You may get to keep 50% of what is legally yours. That unfortunately, as far as development/investment property is concerned, is 50% of nothing. And that is the amount which you may pass on to your dependent, non Thai relatives.

Dave

Money laundering?

Spawn a child to build a condo....cool.

A 15 million baht apartment building should be a sweet abode.

Cannot!

The same rules apply to financing throughout the world. In this post GFC time, you will need some deposit and 100% presale of the building. However, as you cannot own the land, no bank will advance you the money. This would be the same in the US. If you can't own the property you can't mortgage it. There are ways to overcome this. Specifically, start a business with yourself and 7 (I think) Thai nationals. They will hold 51% of the stock. However, you can write the company's charter to allow your 49% to hold 93% of the votes and the other shareholders can be limited to the balance. However with only 2 million baht you are a long way behind the eight ball. If you are determined, you should be able to get the project up and running, but credit rules and interest rates on casual credit (such as for builder's supplies) can be over 10% per month (thats over 120%pa) and deadlines, penalty clauses and such will not hold much clout here.

I admire your thinking, but I would firstly see a solicitor/lawyer with strong US connections to navigate your way through the property aquisition and financing morass. Then be prepared for a lot of obstacles, a lack of enthusiasm from the local building teams and plenty of suicide days.

Re divorce: You may get to keep 50% of what is legally yours. That unfortunately, as far as development/investment property is concerned, is 50% of nothing. And that is the amount which you may pass on to your dependent, non Thai relatives.

Dave

Thanks my friend, I think your a man with a history of investing in Thailand am I right? If my son is half thai can I put the entire investment in his name? Hypothetically if I got married and had a kid would the wife also need to put her percentage in the childs name? Good idea about writing the companies charter as well, thanks..

No such thing as "half-Thai" from a legal perspective. He's either a Thai citizen (in which case the answer is yes) or not a Thai citizen (in which case the answer is no).