radiola Posted March 8, 2012 Share Posted March 8, 2012 I am planning to buy a house, they told me the price is around 1,2 mil they told me i need to make a company, and pay like 42000 bht one time to be able to buy the land and house i will have like 49 % shares or something, the guy told me that that is the option to do it with a lawyer I am really more interested to buy a house then a condo How much costs do i have with company? DO I have to employ people inside?.... Link to comment Share on other sites More sharing options...
craigt3365 Posted March 8, 2012 Share Posted March 8, 2012 Let's try this over in the Real Estate forum. Topic Moved. Link to comment Share on other sites More sharing options...
JusMe Posted March 8, 2012 Share Posted March 8, 2012 You can buy the house, no problem. But you cannot personally buy the land under it. That must be leased from a Thai company or other owner. You can go the set-up-a-Thai-company route, but much too complex if you just want a house to live in. Link to comment Share on other sites More sharing options...
ballbreaker Posted March 8, 2012 Share Posted March 8, 2012 You will have a one time company setup fee but you will also have annual cost to maintain the company. Ask youself do you trust the Thai owners of the other 51 percent. In my opinion, others will disagree, Thai companies set up to buy land and house are skirting the law. Stop and think about it for a second. Thai law says foreigners cannot own land. If you set up a company owning 49 percent or less but give yourself 51 percent or more of the voting rights have you not in realty taken ownership away from Thai share holders. It would be interesting to see what a judge in court would say. 2 Link to comment Share on other sites More sharing options...
craigt3365 Posted March 8, 2012 Share Posted March 8, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. Link to comment Share on other sites More sharing options...
necronx99 Posted March 8, 2012 Share Posted March 8, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. It's a matter of scrutiny yes? Your company in this case cannot stand any should someone wish to look deep enough. A corp doesn't have that risk. Link to comment Share on other sites More sharing options...
craigt3365 Posted March 8, 2012 Share Posted March 8, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. It's a matter of scrutiny yes? Your company in this case cannot stand any should someone wish to look deep enough. A corp doesn't have that risk. I'm no expert! Wasn't there some ruckus down in Phuket last year over corporations/hotels owning land??? Link to comment Share on other sites More sharing options...
radiola Posted March 8, 2012 Author Share Posted March 8, 2012 it is unfair, they mess with foreigners like that, only condos you can buy, f... that. it just sucks Link to comment Share on other sites More sharing options...
Naam Posted March 8, 2012 Share Posted March 8, 2012 You will have a one time company setup fee but you will also have annual cost to maintain the company. Ask youself do you trust the Thai owners of the other 51 percent. In my opinion, others will disagree, Thai companies set up to buy land and house are skirting the law. Stop and think about it for a second. Thai law says foreigners cannot own land. If you set up a company owning 49 percent or less but give yourself 51 percent or more of the voting rights have you not in realty taken ownership away from Thai share holders. It would be interesting to see what a judge in court would say. who mentioned something about voting rights of 51%? Link to comment Share on other sites More sharing options...
radiola Posted March 8, 2012 Author Share Posted March 8, 2012 Never am i signing house to some gold diggin atm w...e, no way is that happening Link to comment Share on other sites More sharing options...
Khun Jean Posted March 8, 2012 Share Posted March 8, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. Compare it to driving fast or through a red light. Personally i always drive a little to fast, in the last 10 years i got caught 1 time. Pay the ticket and it is over. Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. Loosing the land/house, paying fines, being deported, visas being denied are all possible outcomes. I would not sleep good with that reality. 1 Link to comment Share on other sites More sharing options...
Popular Post Khun Jean Posted March 8, 2012 Popular Post Share Posted March 8, 2012 it is unfair, they mess with foreigners like that, only condos you can buy, f... that. it just sucks Try getting a visa for a Thai woman who wants to live in a western country. That sucks even more. Rules have to be only fair for its own citizens, all the others have a choice to accept those rules upon entry. 3 Link to comment Share on other sites More sharing options...
Thongkorn Posted March 8, 2012 Share Posted March 8, 2012 Its probably cheaper to rent. How long would 0ne and a half million last in rent. Any problems just leave, Link to comment Share on other sites More sharing options...
radiola Posted March 8, 2012 Author Share Posted March 8, 2012 with rent you are loosing money, i need to invest somehow, the house or condos are the safest options for me Link to comment Share on other sites More sharing options...
transam Posted March 8, 2012 Share Posted March 8, 2012 with rent you are loosing money, i need to invest somehow, the house or condos are the safest options for me Hmmmm, you could come unstuck big time. Rents are cheap, if you have cash invested in farang land then the interest will pay for your roof here, just ask any Blether-ing long timer. . Link to comment Share on other sites More sharing options...
Tatsujin Posted March 8, 2012 Share Posted March 8, 2012 Buy a condo, 100% legal for foreigner to do so. Buy land/house through fake company that won't stand up to any scrutiny, you lost it all. simple. Link to comment Share on other sites More sharing options...
sscsamui Posted March 8, 2012 Share Posted March 8, 2012 I have lived here for 25 years. I have a Thai company with Land and House... Never had a problem. You can use a lawyer to set up your Company or a smart accountant. Follow the proper process and it shouldn't be a problem... Link to comment Share on other sites More sharing options...
VeraLynn Posted March 8, 2012 Share Posted March 8, 2012 Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. Loosing the land/house, paying fines, being deported, visas being denied are all possible outcomes. Could you point me in the right direction where this has already happened to someone, a link maybe....thank you. Link to comment Share on other sites More sharing options...
Naam Posted March 8, 2012 Share Posted March 8, 2012 Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. one problem of a human being is that one is vulnerable to die any day. one time it will happen! after that it does not matter whether you owned the land on which your house was built or not. Link to comment Share on other sites More sharing options...
Naam Posted March 8, 2012 Share Posted March 8, 2012 Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. Loosing the land/house, paying fines, being deported, visas being denied are all possible outcomes. Could you point me in the right direction where this has already happened to someone, a link maybe....thank you. no, he can't. Link to comment Share on other sites More sharing options...
Berkshire Posted March 9, 2012 Share Posted March 9, 2012 it is unfair, they mess with foreigners like that, only condos you can buy, f... that. it just sucks Try getting a visa for a Thai woman who wants to live in a western country. That sucks even more. Rules have to be only fair for its own citizens, all the others have a choice to accept those rules upon entry. Right on the money, Khun Jean. Governments' priorities are always to its citizens first. I've been watching the US Republican Primaries and not once has any of the presidential candidates ever mention trying to improve the lives of foreigners in America. Won't be much different in Thailand. Link to comment Share on other sites More sharing options...
PattayaPhom Posted March 9, 2012 Share Posted March 9, 2012 it is unfair, they mess with foreigners like that, only condos you can buy, f... that. it just sucks Try getting a visa for a Thai woman who wants to live in a western country. That sucks even more. Rules have to be only fair for its own citizens, all the others have a choice to accept those rules upon entry. Obtaining a visa for a Thai lady to visit/stay in any European country is simple providing it is a genuine relationship and you can prove that you have sufficient funds to support them. A man that arrives here on holiday and wants to take a bar girl back after being with her for two weeks is a different storey. The Thai visa system is again very fair to genuine people wanting to stay here. If you have family ties, work or are of retirement age and have sufficient funds you can get yearly visas/extensions without a problem. Link to comment Share on other sites More sharing options...
Khun Jean Posted March 9, 2012 Share Posted March 9, 2012 Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. Loosing the land/house, paying fines, being deported, visas being denied are all possible outcomes. Could you point me in the right direction where this has already happened to someone, a link maybe....thank you. no, he can't. The whole point is that i don't have to. If it is stated in the law that it is illegal (sole purpose of company owning land), then it is illegal. The chance of being caught is part of someones risk assessment. You, Naam, as an investor should know all about risk assessments! If repeatedly being said that owning land through a company is no problem someone reading that and following that up by reading some lawyers and agent websites, the wrong conclusion can be made and that someone can make a wrong assessment of the risks. I own land through a company personally, the difference is that it is a legitimate company doing business and having normal shareholders and employees. Bookkeeping, accountant, taxes etc are all been taken care of. The 'risk' losing the investments in my situation is very low. When using nominees, or not being active with the company can result in losses. In short assess the risk based on good information, confirm it through many sources, then make the decision. Link to comment Share on other sites More sharing options...
PattayaPhom Posted March 9, 2012 Share Posted March 9, 2012 Problem with a company owning land is that you are vulnerable to being caught every day! And one time it will happen. Loosing the land/house, paying fines, being deported, visas being denied are all possible outcomes. Could you point me in the right direction where this has already happened to someone, a link maybe....thank you. no, he can't. The whole point is that i don't have to. If it is stated in the law that it is illegal (sole purpose of company owning land), then it is illegal. The chance of being caught is part of someones risk assessment. You, Naam, as an investor should know all about risk assessments! If repeatedly being said that owning land through a company is no problem someone reading that and following that up by reading some lawyers and agent websites, the wrong conclusion can be made and that someone can make a wrong assessment of the risks. I own land through a company personally, the difference is that it is a legitimate company doing business and having normal shareholders and employees. Bookkeeping, accountant, taxes etc are all been taken care of. The 'risk' losing the investments in my situation is very low. When using nominees, or not being active with the company can result in losses. In short assess the risk based on good information, confirm it through many sources, then make the decision. Khun Jean, just out of interest, why did you ask on a seperate thread about Thai Companies if you already have one and seem to know the answers already Link to comment Share on other sites More sharing options...
Khun Jean Posted March 9, 2012 Share Posted March 9, 2012 it is unfair, they mess with foreigners like that, only condos you can buy, f... that. it just sucks Try getting a visa for a Thai woman who wants to live in a western country. That sucks even more. Rules have to be only fair for its own citizens, all the others have a choice to accept those rules upon entry. Obtaining a visa for a Thai lady to visit/stay in any European country is simple providing it is a genuine relationship and you can prove that you have sufficient funds to support them. A man that arrives here on holiday and wants to take a bar girl back after being with her for two weeks is a different storey. The Thai visa system is again very fair to genuine people wanting to stay here. If you have family ties, work or are of retirement age and have sufficient funds you can get yearly visas/extensions without a problem. Who is saying anything about a Thai being married to a foreigner, and why give an example about bargirls? Are you from pattaya by any change? Let me guess you know hundreds of people personally that have no problems with visas. Link to comment Share on other sites More sharing options...
Khun Jean Posted March 9, 2012 Share Posted March 9, 2012 Khun Jean, just out of interest, why did you ask on a seperate thread about Thai Companies if you already have one and seem to know the answers already One can never know enough. Link to comment Share on other sites More sharing options...
Naam Posted March 9, 2012 Share Posted March 9, 2012 Buy a condo, 100% legal for foreigner to do so. Buy land/house through fake company that won't stand up to any scrutiny, you lost it all. simple. simple is only a simpleton's mind based on assumptions but presented as facts. Link to comment Share on other sites More sharing options...
Naam Posted March 9, 2012 Share Posted March 9, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. It's a matter of scrutiny yes? Your company in this case cannot stand any should someone wish to look deep enough. A corp doesn't have that risk. what is the difference between a company and a corporation? Link to comment Share on other sites More sharing options...
craigt3365 Posted March 9, 2012 Share Posted March 9, 2012 I know this is a big issue here in Thailand, but thousands of foreigners own property here via the company route. As well as many very large foreign corporations. Have not heard of anyone losing their house yet?? We're small potatoes compared to the corporations. It's a matter of scrutiny yes? Your company in this case cannot stand any should someone wish to look deep enough. A corp doesn't have that risk. what is the difference between a company and a corporation? I was referring to corporations who own land here via the proxy method. Not sure there's another way to do it??? I've been to immigration several times with my company book and stamp to prove residence. Never had a problem, never had a raised eyebrow. As has been asked in dozens of threads before, I'd like to see a link to someone who lost their home due to use of this proxy method. Seriously, I'd really like to see it. Link to comment Share on other sites More sharing options...
chiang mai Posted March 9, 2012 Share Posted March 9, 2012 I'm aware of a farang here in Chiang Mai who used the company route to buy and build a house, this being some eight years ago. As of today he has been given ninety days notice by the Land Office to move his property out of company opwnership and into private ownership, otherwise his house will be confiscated. The company in question exists solely to own the property and the farang has filed year end reports etc. every year. Link to comment Share on other sites More sharing options...
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