Register A Company With No Activity Now In The Purpose Of Buying A Land Later ?

[Soboringtochooseaname]

Register a company with no activity now in the purpose of buying a land later ? How much will cost me an "empty" company (with no activity) ?

Hello,

I often read that making a company in the purpose of buying land is risky even when everybody does it...

So I wonder if I should make a company now to buy a land in the next few years ?

I would like to register a company for the cheapest cost, with no official activity (or it can be a web design company with fake customers if needed), then buy land later, but I wonder how much will cost me this "empty" company yearly ? And to register it ?

Any company can buy land in Thailand as soon as 51% belongs to Thai ?

Thanks for your info.

[GentlemanJim]

I think you need to do a little more research really. You can set up a company for about 800 USD I would guess but if you are already planning to set up a company with 'fake' customers then further down the line if you do buy land, you are just setting yourself up to have the land confiscated because you set up a fraudulent company.

[Boater]

you could buy an already excisitng Shelf Thai Company, but it will still cost you around 16K a year Accountant fee's

[sbk]

Best you do some research OP, there are reports of the Land Dept cracking down on shell companies used to purchase land. You might want to consider talking to forum sponsors Sunbelt Asia about this and see what experience they have with this.

Moved to the Land forum

[Langsuan Man]

Best you do some research OP, there are reports of the Land Dept cracking down on shell companies used to purchase land. You might want to consider talking to forum sponsors Sunbelt Asia about this and see what experience they have with this.

Moved to the Land forum

Source please , other than the foreign motorcycle gang illegally purchasing land in Phuket, I have yet to see any actual enforcement. Lots of talk, but no action

[wallswod]

Good idea Admin, I hope Sunbelt does update us all.

Sooner the better.

[Soboringtochooseaname]

Best you do some research OP, there are reports of the Land Dept cracking down on shell companies used to purchase land. You might want to consider talking to forum sponsors Sunbelt Asia about this and see what experience they have with this.

Moved to the Land forum

Source please , other than the foreign motorcycle gang illegally purchasing land in Phuket, I have yet to see any actual enforcement. Lots of talk, but no action

EXACTLY !!!

This is just bullsxt as usual and I never heard about anyone having problems !

So why people keep speaking about situations that do not exist ? Do they get commissions from TV sponsors ? :-)

Thanks anyway.

[sbk]

"The Ministry of Interior issued a new regulation intended to crackdown on foreigners engaged in the real estate business in Thailand. Foreigners attempting to circumvent Thai law prohibiting aliens from owning land establish "shell companies" in Thailand composed of Thai nominees who lack real interest in the company. Foreigners use these Thailand registered companies to illegally purchase and sell land to other foreigners. The Ministry of Interior has requested that the Department of Land investigate the background of any Thai nominee in a company with foreign shareholders and foreign directors who are suspected to hold their position in place of a foreigner. The Thai land officer will examine their occupation, their monthly income and their length of employment to ascertain the Thai shareholders role is genuine before a land purchase can take place."

A simple google search should yield enough results to let you know that indeed it is illegal.

[sbk]

Perhaps it needs pointing out that advocating illegal activity is against forum rules?

http://www.thaivisa.com/forum/index.php?app=forums&module=extras&section=boardrules

15) Not to use ThaiVisa.com to post any material which is knowingly or can be reasonably construed as false, inaccurate, invasive of a person's privacy, or otherwise in violation of any law.

[Naam]

"The Ministry of Interior issued a new regulation intended to crackdown on foreigners engaged in the real estate business in Thailand. Foreigners attempting to circumvent Thai law prohibiting aliens from owning land establish "shell companies" in Thailand composed of Thai nominees who lack real interest in the company. Foreigners use these Thailand registered companies to illegally purchase and sell land to other foreigners. The Ministry of Interior has requested that the Department of Land investigate the background of any Thai nominee in a company with foreign shareholders and foreign directors who are suspected to hold their position in place of a foreigner. The Thai land officer will examine their occupation, their monthly income and their length of employment to ascertain the Thai shareholders role is genuine before a land purchase can take place."

A simple google search should yield enough results to let you know that indeed it is illegal.

no doubt about the illegality that companies are used to circumvent Thai land owning restrictions.

but the emphasis is on "foreigners engaged in the real estate business in Thailand" in context with "Foreigners use these Thailand registered companies to illegally purchase and sell land to other foreigners."

a survey in 2009 stated that since 1992 the number of companies established which bought land exceeded 80,000... that was 19 years ago! as Thai authorities are far less dumb as the usual suspects in Thaivisa claim, it is reasonable to assume.........

addendum:

"The Ministry of Interior issued a new regulation intended to crackdown on foreigners engaged in the real estate business in Thailand."

june 2006

Edited October 22, 2011 by Naam

[sbk]

Sorry, forgot to put the date, the point was that it is illegal. End of story.

As for soboring's failure to grasp one simple economic point regarding sponsors, There aint no such thing as a free lunch. Sponsors keep this site going as believe it or not, it is not free to run. If you choose not to use a sponsor that is your choice but do not make defamatory baseless comments regarding either mods who grasp the economic realities of running this forum or against sponsors. You don't seem willing to pay for the service that Thaivisa offers but are more than willing to use it, So, consider that sponsors are a valuable resource that give you the opportunity to use it for free.

And since this thread contains defamatory posts, discussion of illegal activity and sponsor bashing, I am closing it.

//CLOSED//