New Draconian Property Law To Deport Foreigners Who "Owns" Land Illegally

[PattayaPhom]

It was in the sauna at Fairtex in Naklua, I know the propertties he talked about, and the prices when he bought and sold...sorry to dissapoint

Funny it's always someone I met in a pub that made money, never I made money!

73bht to 50bht makes you 40% profit (if you moved the money back to the UK)

To triple your money you would need to sell for about 2.5x purchase price then transfer the money back to the UK.

Did the person you met do that?

Try reading again...Sauna...Pub..the words dont even look alike....and I have made money also thankyou very much..its not 50 Baht its 48 and until a few months ago 47. 4 million Baht at 73 was just over 54K, so he only needed to sell for 7 million to 'almost triple', thats not 2.5 x purchase price its not even double. You havnt met anyone thats made money or is happy about property in Thailand but I and many others have, just accept it, whats the big issue.

Please I ask again,give me the name and time I can meet the lucky seller of (three) properties,how many times have I to ask. It is as though you are trying to hide something

Be sensible hey, just accept the fact that there are people here happy buying property and some have made a profit also.

[soundman]

I have removed some inflammatory posts from this topic.

In future please try to post on the subject, rather than just adding crap to make fun of what another member has posted.

[rgs2001uk]

Lets see, purchase price 4 million, selling price 7 million all in Thai baht.

So a profit of 3 million, 3 as a %age of 4 = 75% last time I was at school.

Thats correct, now do the conversions from Sterling-Baht-Sterling at the appropriate XE rates....almost triple the original amount.

Ok lets look at this another way.

Dont assume everyone reading this is a Brit.

Lets asume purchase price of 4 million baht, bought using the Ozzy Peso, which was trading at 20 baht at the time, so a purchase price at the time of 200k Ozzy Dollars.

Sale price 7 million baht, at todays rate of 30 baht to the (long gone) Ozzy Peso, lets say 230k Ozzy Dollars.

The Ozzies would have had a better return on their money keeping it in an Ozzy account and picking up 6% pa.

[letitbe]

re putting property in childs name and comment a child cant develop or get building permit.

just build a small house on it first transfer then with house book and rest and it should be no problem. Our children own several pieces of land some with house of sorts on it some not. We have not tried to build on land that does not already have a house of sorts but if it was a problem they can just do it when they are 20. if its already got a house book even if place is a dump no problem you just build what you want no one will care. Or theirs always tea money to solve almost any problem here.

[letitbe]

Whether a proposal from this 'ombudsman' is enacted or not, a part of the price of owning a property through a nominee company is the continual uncertainty and element of risk attached to such a purchase. It might be discarded but it cannot be disregarded.

After many, many years of visiting, and now living in Thailand, nothing would ever make me buy property here.

I fail to understand why ANY farang would do so, unless it's the beer goggles, or lust for a woman that demands it.

why ???? my thai wife or our thai children own everything we have here even the condos or are you saying you want to own it ???

[letitbe]

This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money o

What nonsense. I cant speak for anyone else but I can pretty well guarantee that my pot is many times larger than yours is. And also I know the best way to use mine, and that isn't by buying overpriced property in a country in which I dont have right of abode.

3% max in a bank account...nah.my pots bigger than your pot. Again, why do renters hate purchasers so much. If people wish to rent as it suits them thats fine with me but it suited me to purchase yet renters have some kind of anger directed at me and others and that stems from them having little pots

actually mine is 20 times bigger than all ops here put together. What a load of crap but I agree with envy bit. Ive lived here over 20 years and been married now around 18 years. Anyone who buys using company route I believe are taking a risk although probably not high. Anyone whose wife is buying is almost certainly safe as long as they have a wife they trust. In our case every property be land land with house or condo are in my Thai wifes name or our children's and although 18 years ago it might have been possible to show it was gift money from me given my wife has since last 18 years bought and sold at least 40-60 properties it would be impossible to now claim it was not here own money. In any case a lot of properties land and condos were bought in her own name before they changed law that allowed wife's of forangs to own land.

Those who bought in company names should worry a bit but its unlikely to come to anything. Personally I would welcome a proper clampdown on this and as a father of 2 thai/uk children dont want to see forang being allowed to own land in any form except condos or maybe 50 year leases or possibly very restricted to forang areas such as Pattaya but only on already developed land and not on new undeveloped land.

Those who say they would rather rent are simply saying they would not trust their wife if they have one.

Not all thai women are money grabbing whores and even some of whores dont just want to cheat their partners but simply like most women in world want a bit of security.

[letitbe]

The house is not really bought as an investment but more like a nice place for us to live in. Our moo baan is very carefully chosen and I know I can sell the house here relatively easy if I want (okay loose maybe a bit, but never mind). My wife will automatically inherit the house when I am gone which gives me peace in mind and she and the kids will not be without means.

I think you will find it impossible to sell that house without your wife's agreement (and signature).

In effect, YOU can't sell the house.

And you're understanding of 'when I am gone' might not be the same as her understanding of 'when you are gone'.

The house is not really bought as an investment but more like a nice place for us to live in. Our moo baan is very carefully chosen and I know I can sell the house here relatively easy if I want (okay loose maybe a bit, but never mind). My wife will automatically inherit the house when I am gone which gives me peace in mind and she and the kids will not be without means.

I think you will find it impossible to sell that house without your wife's agreement (and signature).

In effect, YOU can't sell the house.

And you're understanding of 'when I am gone' might not be the same as her understanding of 'when you are gone'.

actually a thai wife cant sell any property condo land or house and land without her husband signing saying he agrees at land office and that includes if shes married to a a forang. I always find it amusing that since they changed law allowing my thai wife married to a forang to buy land I need to sign saying its her own money ( when she can easily prove it is) and then when she sells anything being a condo land or house and land I have ot sign saying I allow her to sign it even though im a forang.

[letitbe]

Piffle again you cannot in any way get 8% on the price of a condo from First Direct you can get it on a maximum 3600 paid in bits over one year............not to mention 8% is not the 10 to 15% you are competing with.

I don't know any foreigner who has made a profit from buying/selling land, house or condo in Thailand (by whatever means). I do many who have lost loads if not everything.

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

Piffle again you cannot in any way get 8% on the price of a condo from First Direct you can get it on a maximum 3600 paid in bits over one year............not to mention 8% is not the 10 to 15% you are competing with.

I don't know any foreigner who has made a profit from buying/selling land, house or condo in Thailand (by whatever means). I do many who have lost loads if not everything.

I may end up buying a house for my Thai son, but it will be a gift for him, not an investment for me.

well my wife has and we know lots of forang whove made a nice 8-10% return by renting and then like my wife sold on at a profit but prices do not go crazy here like in west. Shes bought places got 8-10% for 10 + years and then sold for same she paid 10 years ago and others got 8-10% for years and sold for 10% less and others got yield and sold for 20% more.

[letitbe]

General reply to op but to many quotes thing which i still dont know how to overcome

I think it is very relevant. The amount of posters who say ANY Farang who buys is mad when they don't consider people with children. My son is growing up in this home, why wouldn't he want to keep it? He loves this place. (In Chiang Mai) He can always rent it out and make a nice suppliment to his income if he works elsewhere. The additions I am making are taking into account the fact the (I hope) he will raise his own family in it. If it doesn't work out that way who cares? I am actually considering building a place for myself and he then has two homes left to him. Sure, I could leave him money but what will he do with that? A house is better.

Anyway, if you are happy renting your house, thats fine but I prefer to live in my home.

end of quote

only thing I disagree is why do you not trust your wife ????? not a good thing !!!! rest I agree and as ive said many times my wife and children have it all in their name. If my wife kicks me our or my children then it will be first wife to do so and first children to try and cheat me after 4 marriages and all happy and none ever tried to cheat. If my current wife has had enough of me thats fine at 85 im ready for a rest. And yes 2 wives passed one were still friends and current one about about 20 years still refuses to dump me even though like others she has all the money now.

[thaibeachlovers]

This subject always brings out the vindictive posters, basically because they havent got a pot to pee in and are jealous. If you prefer renting thats fine, thats your choice if it suits you but its the sheer nastiness of posts made that amazes me, There must be some ulteria reason for it and that is simply lack of money o

What nonsense. I cant speak for anyone else but I can pretty well guarantee that my pot is many times larger than yours is. And also I know the best way to use mine, and that isn't by buying overpriced property in a country in which I dont have right of abode.

3% max in a bank account...nah.my pots bigger than your pot. Again, why do renters hate purchasers so much. If people wish to rent as it suits them thats fine with me but it suited me to purchase yet renters have some kind of anger directed at me and others and that stems from them having little pots

actually mine is 20 times bigger than all ops here put together. What a load of crap but I agree with envy bit. Ive lived here over 20 years and been married now around 18 years. Anyone who buys using company route I believe are taking a risk although probably not high. Anyone whose wife is buying is almost certainly safe as long as they have a wife they trust. In our case every property be land land with house or condo are in my Thai wifes name or our children's and although 18 years ago it might have been possible to show it was gift money from me given my wife has since last 18 years bought and sold at least 40-60 properties it would be impossible to now claim it was not here own money. In any case a lot of properties land and condos were bought in her own name before they changed law that allowed wife's of forangs to own land.

Those who bought in company names should worry a bit but its unlikely to come to anything. Personally I would welcome a proper clampdown on this and as a father of 2 thai/uk children dont want to see forang being allowed to own land in any form except condos or maybe 50 year leases or possibly very restricted to forang areas such as Pattaya but only on already developed land and not on new undeveloped land.

Those who say they would rather rent are simply saying they would not trust their wife if they have one.

Not all thai women are money grabbing whores and even some of whores dont just want to cheat their partners but simply like most women in world want a bit of security.

Anyone can change. The western woman that I loved turned into the bitch from hell, and with Thais there's the whole different culture/ thought processes to add to the normal uncertainty of life.

By all means buy a house in her name if you want to, but don't cry if it all turns to poo.

IMO if she really loves you, she'll accept renting, and if she doesn't, then I'd be wondering why.

Edited July 20, 2012 by thaibeachlovers

[Joeb]

I always liked the quote from former PM Chatichai when asked about foreign land ownership - Why not, they can't take it with them, we can tax it while they own it and if things get really bad we can nationalize it.

[Gary A]

I'm confused by a post that says a wife has to have her farang husband sign before she can sell a property that is in her name. I must live in the wrong province because my wife can sell anything that is in her name without any signature from me. It does irritate her when I have to sign when she buys a property. If I don't sign the document the land office will not put it in her name.

As far as buying a condo, I bought mine before we married and it is in my name. I didn't buy it for an investment but for a security blanket for myself. I was offered a very good price for it and would have nearly doubled my money. I must say that I considered it but chose to keep my security blanket. I bought it when there was 41 baht to a dollar.

[cockerdoodledo]

This and English version is on display

Edited July 20, 2012 by cockerdoodledo

[rgs2001uk]

This and English version is on display

English version dont load.

[cockerdoodledo]

See if this opens I pitched some other stuff that applied too,I see the property punters are lying low now,but why any farang still advertises their house as company owned as a selling point,do not care if it a legit company ,still a no-no

Edited July 20, 2012 by cockerdoodledo

[rgs2001uk]

See if this opens I pitched some other stuff that applied too,I see the property punters are lying low now,but why any farang still advertises their house as company owned as a selling point,do not care if it a legit company ,still a no-no

No problemo this time, cheers.

[simple1]

@cockerdoodledo "If you are about to state that bribing a member of staff at the office has allowed the selling of such property,I would be pleased to hear of it ,as I will communicate the information to the appropiate authorities in Bangkok Thank You"

Reply: Perhaps you should have a reality check, instead of making sweeping statements that foreigners are prohibited from buying houses via a company structure at all land offices in Thailand. I acknowledge you have now withdrawn that statement and now make specific reference to the Banglamung Land Office, Chon Buri. As previously mentioned you will find that this "crackdown" was specifically targeted at a foreign managed company that allegedly has been involved in property fraud.

Erm think it is you that needs a reality check,Acknowledged a statement withdrawal ?( biggest laugh of the year )so far)

Go to the Land Office here in Pattaya, ask for written confirmation that all land/house purchases for foreigners via a company structure are now banned and then post on TV - otherwise shut up

Edited July 20, 2012 by simple1

[PattayaPhom]

See if this opens I pitched some other stuff that applied too,I see the property punters are lying low now,but why any farang still advertises their house as company owned as a selling point,do not care if it a legit company ,still a no-no

"This is an unofficial"....

[simple1]

@cockerdoodledo "If you are about to state that bribing a member of staff at the office has allowed the selling of such property,I would be pleased to hear of it ,as I will communicate the information to the appropiate authorities in Bangkok Thank You"

Reply: Perhaps you should have a reality check, instead of making sweeping statements that foreigners are prohibited from buying houses via a company structure at all land offices in Thailand. I acknowledge you have now withdrawn that statement and now make specific reference to the Banglamung Land Office, Chon Buri. As previously mentioned you will find that this "crackdown" was specifically targeted at a foreign managed company that allegedly has been involved in property fraud.

Erm think it is you that needs a reality check,Acknowledged a statement withdrawal ?( biggest laugh of the year )so far)

Go to the Land Office here in Pattaya, ask for written confirmation that all land/house purchases for foreigners via a company structure are now banned and then post on TV - otherwise shut up

Have I not just done that LOL

Apologies, did not notice Land Office on the document. Am I correct that the document is a declaration that the Thai party is confirming that the property is not being purchased on the behalf of a foreigner and that the company entity shareholding complies with Thai law? By the way during a recent visit to Nong Prue Amphur, to obtain a Yellow Tambien Ban, the officer showed me the documentation of a foreigner who had purchased a house via the company route who requested listing his name on the Blue Tambien Ban - and it was approved.

EDIT: I agree that acquiring house via a company entitiy does have a risk Would the Thai government enact legislation that is retrospective - don't know...

Edited July 21, 2012 by simple1

[letitbe]

In reply to

"

Anyone can change. The western woman that I loved turned into the bitch from hell, and with Thais there's the whole different culture/ thought processes to add to the normal uncertainty of life.

By all means buy a house in her name if you want to, but don't cry if it all turns to poo.

IMO if she really loves you, she'll accept renting, and if she doesn't, then I'd be wondering why.

"

with an attitude like yours its no wonder your wife turned into a bitch and I certainly wont be crying about loosing a house or anything if it does go bad I can assure you. anyway after 18+ years during which time shes had all of property here in UK and USA for most of it it probably wont happen. What a stupid comment if she loves you shell accept renting. Of course if we did not have money or we agreed investing them money in something else was better then wed rent but most people in stable relationships of long standing much prefer to have a home which they own. In fact my wife has 3 here 2 in Uk and 1 in USA and were about to buy another 2-3 in USA which will all be in or our children's names.

[letitbe]

I'm confused by a post that says a wife has to have her farang husband sign before she can sell a property that is in her name. I must live in the wrong province because my wife can sell anything that is in her name without any signature from me. It does irritate her when I have to sign when she buys a property. If I don't sign the document the land office will not put it in her name.

As far as buying a condo, I bought mine before we married and it is in my name. I didn't buy it for an investment but for a security blanket for myself. I was offered a very good price for it and would have nearly doubled my money. I must say that I considered it but chose to keep my security blanket. I bought it when there was 41 baht to a dollar.

I'm confused by a post that says a wife has to have her farang husband sign before she can sell a property that is in her name. I must live in the wrong province because my wife can sell anything that is in her name without any signature from me. It does irritate her when I have to sign when she buys a property. If I don't sign the document the land office will not put it in her name.

As far as buying a condo, I bought mine before we married and it is in my name. I didn't buy it for an investment but for a security blanket for myself. I was offered a very good price for it and would have nearly doubled my money. I must say that I considered it but chose to keep my security blanket. I bought it when there was 41 baht to a dollar.

sometimes i dont have to sign and officer just accepts that because im there ive given my permission other times ive had to sign saying i give my permission. I think it also might be different at different land offices and even with different officers since weve been to the same land office and ive not been asked yet time before i was.

[Bung]

I think it is very relevant. The amount of posters who say ANY Farang who buys is mad when they don't consider people with children. My son is growing up in this home, why wouldn't he want to keep it? He loves this place. (In Chiang Mai) He can always rent it out and make a nice suppliment to his income if he works elsewhere. The additions I am making are taking into account the fact the (I hope) he will raise his own family in it. If it doesn't work out that way who cares? I am actually considering building a place for myself and he then has two homes left to him. Sure, I could leave him money but what will he do with that? A house is better.

Anyway, if you are happy renting your house, thats fine but I prefer to live in my home.

end of quote

*Quote

only thing I disagree is why do you not trust your wife ????? not a good thing !!!! rest I agree and as ive said many times my wife and children have it all in their name. If my wife kicks me our or my children then it will be first wife to do so and first children to try and cheat me after 4 marriages and all happy and none ever tried to cheat. If my current wife has had enough of me thats fine at 85 im ready for a rest. Posted Image And yes 2 wives passed one were still friends and current one about about 20 years still refuses to dump me even though like others she has all the money now.

*End quote

I am divorced.

[MrRealDeal]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

[letitbe]

well in Spain even though local government approved building lots of owners have had to pull their property down because central government said it was illegal so if that can happen in a western country its IMO more likely to happen here particularly with company route. My wife owns lots of land and condos in her own name not company but they could even try and go for that but then she can just divorce me or we put it in our Thai children's names. Cant see much happening anyway to anyone but I would not be sorry if all those who cant/wont trust their wives found company route ended with them trusting thai government more and loosing it.

[letitbe]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

spot on and i agree 100%

[23962323]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

spot on and i agree 100%

The cold light of day slowly dawns now on the company purchase brigade,they know it,we all know it,but giving time (say one year) to dispose of their property will not help,only Thais will be buying,and they will be picking up the bones of the unfortunates. Was good while it lasted,now it is over (almost)

[lovetotravel]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

spot on and i agree 100%

The cold light of day slowly dawns now on the company purchase brigade,they know it,we all know it,but giving time (say one year) to dispose of their property will not help,only Thais will be buying,and they will be picking up the bones of the unfortunates. Was good while it lasted,now it is over (almost)

Please post when somebody has actually lost their land. Not when another announcement is made and nothing is done. This happens every year and has been happening for years. Nothing has happened yet, much to the dismay of some.

Agreed, the company route is dodgy. But then again so are many things here in Thailand.

[Naam]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

spot on! and before they are deported they should be fined 100 Baht that envious poor boys like you can afford an additional Chang on the steps of a 7/11 and a noodle soup from a street vendor.

[Jayman]

Most of you are crazy ...... If people have broken the law to buy land they know they shouldn't own , it should be taken and they should be deported , the Thai people who are accomplices should be held accountable as well , they won;t be we know that but people who argue that people who break the law should not be held accountable are crazy.

I say GREAT take thier land put it up for auction and deport them ...... boo hoo for you , don't break the law next time.

spot on! and before they are deported they should be fined 100 Baht that envious poor boys like you can afford an additional Chang on the steps of a 7/11 and a noodle soup from a street vendor.

no one will ever accuse you of being humble.

[BirdsandBooze]

With regard to houses I don't know why they don't do what they do in the English Channel Islands and have two separate property markets. There is one for Channel Islanders and one for incomers. Incomers can't buy the locals property and the locals can't buy the incomers. Starting prices in the incomers market used to be £1m, probably more now, but it works fine there, and could do here, but paranoia is endemic among the Thai elite.