Can Foreigner Really Own A Land And House?

[Khun Jean]

Well, we all learn from each other, somethimes we are right, and other times we may be wrong, I have done enough research and also I do what I preached, have read, have heard and have done it myself, not to put it in your GF or wife's name, as she could run away and you are left poorer, so if you could be a little more watchful of your offensive language, this will definitely be the friendliest post ever.

Ok, now I am trying to be friendly.

1) Condo is off topic, reread this topic,

2) is not practical, you don't own it and you can't sell it.

30 years lease, and you end up with answer 2, and the same as you put it in your thai gf' name, as the lessor is a thai. So now, what if you want to sell 3 years later, and what happen after 30 years? The house do not belong to you anymore, and I right? As it is leased to you for 30 years.

So the more practical way is to set up a company through a legal firm, and they will get 2 dummies to be the shareholders of the company (do not use your own thai friends as shareholders) and presigned the transfer form and to be kept by you, this is what thousands of foreigners are doing it depite all the news about clamping down foreigners buying properties, I think the authorities are more concern about them buying land than a mere 5 million baht house.

Many people trying to save a few bucks for yearly fee for a thai company, and in the end lose their pants, just like the great old saying, penny wise and pound foolish.

Ah well, back to the illegal company again.

Is it that difficult to understand?

BTW as was told in another topic:

Forum rules:

16) Not to post about gambling, betting, pornography, illegal drugs, fake goods/clothing etc and other activities that are officially illegal in Thailand.

Edited May 31, 2012 by Khun Jean

[23962323]

Instructions sent to land registries recently state no agreements longer than 3 years ,and that would include usufruct,no foreigner on any paperwork,and selling may land you in the same mess

[rodentwarrior]

So the more practical way is to set up a company through a legal firm, and they will get 2 dummies to be the shareholders of the company (do not use your own thai friends as shareholders) and presigned the transfer form and to be kept by you, this is what thousands of foreigners are doing it depite all the news about clamping down foreigners buying properties, I think the authorities are more concern about them buying land than a mere 5 million baht house.

Which bit are you struggling with Cobra? Setting up a company to usurp Thai Law over foreign land ownership is ILLEGAL. The fact that people do it, and take the financial risk, doesn't make it right.

[Cobrabiker]

It is all legally done up in the lawyer's office, with real breathing humans as the share holder, if it is illegal, you think that the lawyer will be stupid enough to do it? It is loophole, as I already said it is not 100% safe, but it is definitely under your control when you want to sell it.

And so, do you have a house? Or a hotel? And did you do it like what you have said 30 years lease or was it in your thai GF's name?

[JeffreyMcCollum]

Thailand has some treaties with some countries that alow it

Also BOI (Board of Investment) has some programs.

1 way is transfer 30m Baht to Thailand, Then you can get up to 1 rai land and a home in your name.

2002 (or was it 2006) BOI law on the books

I laugh at those worried about a 30 year lease. I hope I won't be around in 30 years. And really after I am dead do I care ?

[rodentwarrior]

if it is illegal, you think that the lawyer will be stupid enough to do it?

Is that a rhetorical question? How long have you been in Thailand to ask such a dumb question? You seriously believe lawyers here are all 100% honest and not a stupid one amongst them?

I have never bought property in Thailand, I have always rented. I certainly would not buy land/property in the name of a proxy - be it a person or a 'company'.

The OP asked a serious question, and I am trying to give a legal perspective, not some shady advice from a dodgy character in an ex-pat bar.

[Cobrabiker]

if it is illegal, you think that the lawyer will be stupid enough to do it?

Is that a rhetorical question? How long have you been in Thailand to ask such a dumb question? You seriously believe lawyers here are all 100% honest and not a stupid one amongst them?

I have never bought property in Thailand, I have always rented. I certainly would not buy land/property in the name of a proxy - be it a person or a 'company'.

The OP asked a serious question, and I am trying to give a legal perspective, not some shady advice from a dodgy character in an ex-pat bar.

You don't even own a house, so what you are talking about? I am having an impression of a man without a driving license and a car comments about driving car is dangerous. Are you talking about thousands of foreigners who own houses by setting up a company are stupid? So what is a better way? Show me?

You seriously believe lawyers here are all 100% honest and not a stupid one amongst them?

So you are saying all lawyers in LOS who do company set up are dumb? And illegal? So what kind of qualification you have in the first place to make that remarks?Do your home work and check with some of your legal professionals before you make that statement. Edited June 1, 2012 by Cobrabiker

[Gary A]

if it is illegal, you think that the lawyer will be stupid enough to do it?

Is that a rhetorical question? How long have you been in Thailand to ask such a dumb question? You seriously believe lawyers here are all 100% honest and not a stupid one amongst them?

I have never bought property in Thailand, I have always rented. I certainly would not buy land/property in the name of a proxy - be it a person or a 'company'.

The OP asked a serious question, and I am trying to give a legal perspective, not some shady advice from a dodgy character in an ex-pat bar.

You don't even own a house, so what you are talking about? Are you talking about thousands of foreigners who own houses by setting up a company are stupid? So what is a better way? Show me?

I'm sorry to say that you don't own a house either. I'm also not saying that the thousands of farangs who went the company route are stupid but the fact is that they trusted a shifty lawyer and that makes them naive.

Maybe the scheme will never fail apart but I like to sleep at night and would hate the idea of some farang hating politician demand that the law be enforced. Since these bogus companies are paying taxes, employing accountants and lawyers the law may never be enforced. I prefer NOT to take that risk. Sweet dreams !!

Edited June 1, 2012 by Gary A

[Cobrabiker]

if it is illegal, you think that the lawyer will be stupid enough to do it?

Is that a rhetorical question? How long have you been in Thailand to ask such a dumb question? You seriously believe lawyers here are all 100% honest and not a stupid one amongst them?

I have never bought property in Thailand, I have always rented. I certainly would not buy land/property in the name of a proxy - be it a person or a 'company'.

The OP asked a serious question, and I am trying to give a legal perspective, not some shady advice from a dodgy character in an ex-pat bar.

You don't even own a house, so what you are talking about? Are you talking about thousands of foreigners who own houses by setting up a company are stupid? So what is a better way? Show me?

I'm sorry to say that you don't own a house either. I'm also not saying that the thousands of farangs who went the company route are stupid but the fact is that they trusted a shifty lawyer and that makes them naive.

Maybe the scheme will never fail apart but I like to sleep at night and would hate the idea of some farang hating politician demand that the law be enforced. Since these bogus companies are paying taxes, employing accountants and lawyers the law may never be enforced. I prefer NOT to take that risk. Sweet dreams !!

First of all, I own a house in LOS by doing the thai company way, have friends doing it the same like thousand others, and also no problem when selling, and if you re-read the topic, it is about house, so if you decide to rent, or buy a condo, you should not even be in this topic.

Talking about house, I think it is a topic more of a man with mature mind, I don't think my answer is superior, but then many jumped in and condemned about it and not offering a solution, just their views, and not a solution. So I suggest please re-read and if don't have a solution, don't condemn others, in order to make yourself more superior, empty vessels make the most noise, and if you don't like it, go ahead and buy a house and put it in your thai GF's name, and keep us update and good luck!

[Gary A]

No one can offer a solution because there is no solution. The Thai law regarding foreign property ownership is very clear. Hopefully the shyster lawyers and accountants are well enough connected to deflect the law from ever being enforced. You just have to pay your accountant and pay your taxes then hope they won't bite the hand that feeds them.

[DrTuner]

2 You can own a structure

Anyone actually done this ? If so, is it like described in http://www.samuiforsale.com/knowledge/building-real-estate-thailand.html (Sale of completed existing house) and were there any tax/other fee consequences ?

[Khun Jean]

Samuiforsale is one of the sites that just tell how it is.

Everyone asks for a solution, and there just isn't one unless you are going to really invest and do real business.

You know like contribute to Thailand.

We all complain in our own countries that foreigners take advantage of the rules, but once those complainers are here they want to do the same!

Thailand at least has laws to protect their own citizens, accept them or leave!

Many crimes go unpunished unfortunately, also many foreigners are adviced wrong by so called laywers. The punishment should be locking up those that caused this problem, meaning lawyers and agents who spread lies.

People who 'bought' 30+30+30 year leases will find out that they are conned. That moment of truth is for many when they are around 70 years old. It is just bad, bad, bad.

Now after a few years hammering that those leases are not enforceable people start to understand. But because now this option is considered not available the stupid company construction comes back.

Why do you think this happens. There is only one reason!

That reason is money!

If people understood the laws in Thailand sales would be a lot lower.

I first believed 'one' was born every minute. Now i am convinced 'one' is born every second. And of those at least 'one' arrives every few minutes in Thailand. So this problem will go on and on.

So just to get back to the topic 'Can a foreigner really own land and house' the answer is NO it is impossible.

And please stop with the but, but but...... face reality!

[rodentwarrior]

You really have to love the fact that Cobra comes on here boasting about how he breaks the Law, justifies it because so do many others, and WE are the idiots for explaining the legalities!

AND because I haven't owned a property here, I should shut the <deleted> up and keep my opinion to myself. I love Thailand.

*sigh* Never argue with an idiot, he will beat you with experience! Keep forgetting that one!

[Sophon]

Thailand has some treaties with some countries that alow it

Also BOI (Board of Investment) has some programs.

1 way is transfer 30m Baht to Thailand, Then you can get up to 1 rai land and a home in your name.

2002 (or was it 2006) BOI law on the books

I laugh at those worried about a 30 year lease. I hope I won't be around in 30 years. And really after I am dead do I care ?

To the best of my knowledge there are no treaties that allow for foreigners to own land in Thailand. If I am mistaken, please point me to a treaty that allows this.

Agree about the BOI scheme, although I am pretty sure the investment amount needed is 40 mio not 30. And owning land after having invested this amount isn't an automatic right, but requires ministerial approval. I have no idea whether this approval would be given or not.

About the 30 year lease. 30 years may be enough to last your lifetime, but what if for some reason you should want or need to sell the property 15 years from now? All you would have to sell (assuming the lease contract allows you to do so) would be a 15 year lease, which in most cases would be almost worthless. And you might surprise yourself and outlive the lease, and having to move or find the money to renew the lease might be hard in your old age. Also, some people may want to have something to leave to their heirs, you may after signing the lease find a wife that end up outliving both you and the lease.

Sophon

[Cobrabiker]

You really have to love the fact that Cobra comes on here boasting about how he breaks the Law, justifies it because so do many others, and WE are the idiots for explaining the legalities!

AND because I haven't owned a property here, I should shut the <deleted> up and keep my opinion to myself. I love Thailand.

*sigh* Never argue with an idiot, he will beat you with experience! Keep forgetting that one!

You came in and said the lawyers are dumb, and question me, like a mad dog and not offering some useful information, that pisses me off.It is ok you don't own a house, but be boastful and acted like you knew everything and in the end, offer no solution, just to pick a fight, you should channel your energy somewhere else like tony's gym, or soi 8 to release some steam.

Ok secondly your question was, "how long have you been here"?

This seems to be the dumbest question, do you think the longer one is here, the more experience he will naturally have? If one never ever step his foot in that particular field, he can be here a hundred years and know nothing about it? For the same fee, do you prefer the dentist to pull out your tooth in 1 hour, rather than the one can get it done in 5 mins?

And lastly I did not say anything about idiots, watch your words or you can be sued for defamation!

In life we all take risks, don't we, the plane might crash before reaching Thailand, you might get knocked down by a car while crossing, might died from food poisoning, condom might break..... if you think this risk causes you night mare, worry about the authorities clamping down, than better don't do it. But undoubtedly, this is one of the solutions if you really need to buy a house.

Edited June 1, 2012 by Cobrabiker

[DrTuner]

AFAIK lawyers have no liabilities for setting up a company with nominee shareholders, they just push paper. It's the nominee shareholders that can get into trouble, as well as the one real shareholder. All it needs is a change of some government bigwigs (practically a yearly occurrence) and a campaign to weed out companies only made to own land. At that point it's going to be buyers market for the Thais, oh yeah..

[Khun Jean]

In life we all take risks, don't we, the plane might crash before reaching Thailand, you might get knocked down by a car while crossing, might died from food poisoning, condom might break..... if you think this risk causes you night mare, worry about the authorities clamping down, than better don't do it. But undoubtedly, this is one of the solutions if you really need to buy a house.

You clearly mis the point!

Let me clarify,

"plane might crash" you were not illegal when you boarded that plane,

'Knocked down by a car" you were not illegal just plain stupid to cross without looking

"food poisening" you were not illegal when eating food just unlucky, although you can prevent the chance greatly by being careful

"condom might break" Only for stingy people or the ones who exacerate how big there willy is, and the big risk is for the woman so wrong example

Illegal actions are very high risk and should never be undertaken.

So live happily in your house that is owned by your 51% nominees and hope and pray that there won't be a knock on the door soon.

Talking about risk, you have none in that situation because you already spend and gave away everything, knowingly. ha ha ha.

Edited June 1, 2012 by Khun Jean

[Cobrabiker]

AFAIK lawyers have no liabilities for setting up a company with nominee shareholders, they just push paper. It's the nominee shareholders that can get into trouble, as well as the one real shareholder. All it needs is a change of some government bigwigs (practically a yearly occurrence) and a campaign to weed out companies only made to own land. At that point it's going to be buyers market for the Thais, oh yeah..

This is what I meant about risk, but the authorities had been talking for years and have not done something yet, I believe they are targeting at those land buyers than a small house.

If all forum members can behave like Dr Tuner, and you will be respected in return, for those rude inputs, you will get a hard slap in return, especially those know nothing and wanted to show something, anyway no hard feelings, life goes on.

[Cobrabiker]

plane might crash" you were not illegal when you boarded that plane,

it doesn't matter legal or illegal, it may still crash, I am talking about risk here

'Knocked down by a car" you were not illegal just plain stupid to cross without looking

don't you know there are these special group of drivers, called reckless and drunk drivers, that is how "accident" happen

"food poisening" you were not illegal when eating food just unlucky, although you can prevent the chance greatly by being careful

even top end restaurant have food poisoning cases, how to be careful, do you carry a special apparatus to test the food?

"condom might break" Only for stingy people or the ones who exacerate how big there willy is, and the big risk is for the woman so wrong example

even if you buy the most expensive condom, and it doesn't matter whether your willy is big or small, it may still break, it is manufacture defects, there is no 100%,

and the big risk is for the woman so wrong example

it is both way man, if your condom breaks, and if that girl you are pumping is HIV+, then you are the luckiest man in the world, good luck!!

Edited June 1, 2012 by Cobrabiker

[sarizz]

And if I want to set up a real business in the house I buy, like an internet cafe. Is it legal?

[Khun Jean]

With a voice like Han Solo :"Boring conversation anyway.."

[Crossy]

And with that from Jean I think it's time for this thread to come to a close.