Buying Or Opening A Business In Phuket

[hansgruber]

Why would anyone bother to buy a piece of land in Thalang to make meat pies when they can rent?

You do know that a 5 X 5 X 5 lease is just as legal as a 30 X 30 X 30?

It isn't legal. The first lease is the only legal lease.

Yes i do no and as i have stated i am not interested in leasing only owning if having a business at all

The more i learn the less interested i am in having a business here

We are basically the same.

The cons outweigh the pros and investment into business isn't really really worth the time and headache for the meager return.

I been here 10 years and still haven't invested in anything so I doubt that will change.

I get what you're saying 100% but I also get the leasing aspect of business and at your age, just relax and let the wife do something small that you can take a small interest in without the stress of investment involved. Just enjoy being occupied and forget the numbers.

[hansgruber]

Peter.

Land ownership and business are completely different issues and youre getting them intertwined.

Successful companies have prospered for decades with leases (club med for example just had thert nting to stair first 30 years renewed) and not all landlords are eager to relieve you of the business once the lease expires.

Any lease over 3 years needs to be registered with the land department so you're pretty safe.

How can you compare club med to people want to start a small profitable business here

If i was interested in leasing which i am not it would have to be a 5 by 5 by 5 year lease

Its an example. The owners of club med land could kick them out and have a well established business ready to go but they didn't.

Its all in the lease. Get a term that's acceptable to you or walk away.

Not everyone wants to has the means to spend 40+ million just on land and leases suit.

Its personal preference peter, some have the need to buy (yourself and I included) and other are happy to lease and play it by ear.

Completely different end of the investment scale.

I am sure club med would not have opened here without a guaranteed renewal of lease

We are going back a long time when that was signed.

Many hotels were anxious at the outcome of the first 30 year lease to be renewed outcome. It was a milestone in the leasing land terms of things. First ever 30 year lease to last the term and be signed for a further 30.

[petercallen]

The Thai govt wants hotel chains to invest here and would make sure they were happy with there investment otherwise they would not open

Small investors are a different matter altogether

[NamKangMan]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

Edited December 12, 2012 by NamKangMan

[petercallen]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

So you think investing $166K for a return of $8K per year is a good investment, you still have to pay tax on the $8K

[britpop]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

So you think investing $166K for a return of $8K per year is a good investment, you still have to pay tax on the $8K

I think NKM raised a valid point PC, thats the same attitude to how i work my finances, plus i have a business here consisting of 3 premises, "work smart not hard" when you have to work hard, just work twice a smart, it's not just in phuket, it's world wide that 90%+ of start up businesses will fail, why????, My business is the most saturated of all the thai businesses on phuket, this attitude you can't expect t make money from day one to me is waffle, BS, no business sense, no idea and they will be consigned to the 90%+ fail club, simply maths "make more then you pay out" and bank, bank bank your money!!!!!, be consistent, professional, honest, 100% customer service, and most important "smile"

[NamKangMan]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

So you think investing $166K for a return of $8K per year is a good investment, you still have to pay tax on the $8K

As of 1st July 2012 the first $18,000AUD of income in Australia is tax free. You start paying tax on your income if you earn over $18,000AUD.

So, you would have to invest around $350,000AUD at 5% interest to earn around $18,000AUD in interest and anything after that is taxed.

$350,000AUD is around 10,500,000 baht.

Compared to buying or starting a business here, I think it's a sound investment.

How many go home broke, everyday, from here???? It's not always the bargirls. It's also people thinking they can do what they were doing back home, or trying their hand at something new, in order to be able to live here. Then, they see a lot of money going out and very little coming in. When their savings are used up, they sell and/or leave.

Some members have talked about the need for a good "business plan" here. I would suggest the best business plan you could have is invest the money in your own country and live off the profits/dividends/rent/interest, or a combination of these, over here.

[steelepulse]

Heads up. Saw a bar for sale online with 2 years left on the lease at the new tiger complex for only 4.6 mil! I wonder what the rent is ?

[petercallen]

Heads up. Saw a bar for sale online with 2 years left on the lease at the new tiger complex for only 4.6 mil! I wonder what the rent is ?

Sounds like a bargain why don't you buy it

[petercallen]

Heads up. Saw a bar for sale online with 2 years left on the lease at the new tiger complex for only 4.6 mil! I wonder what the rent is ?

Sounds like a bargain why don't you buy it

[petercallen]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

So you think investing $166K for a return of $8K per year is a good investment, you still have to pay tax on the $8K

As of 1st July 2012 the first $18,000AUD of income in Australia is tax free. You start paying tax on your income if you earn over $18,000AUD.

So, you would have to invest around $350,000AUD at 5% interest to earn around $18,000AUD in interest and anything after that is taxed.

$350,000AUD is around 10,500,000 baht.

Compared to buying or starting a business here, I think it's a sound investment.

How many go home broke, everyday, from here???? It's not always the bargirls. It's also people thinking they can do what they were doing back home, or trying their hand at something new, in order to be able to live here. Then, they see a lot of money going out and very little coming in. When their savings are used up, they sell and/or leave.

Some members have talked about the need for a good "business plan" here. I would suggest the best business plan you could have is invest the money in your own country and live off the profits/dividends/rent/interest, or a combination of these, over here.

Invested money it not a lot of peoples sole income so it would be taxed

[NamKangMan]

Heads up. Saw a bar for sale online with 2 years left on the lease at the new tiger complex for only 4.6 mil! I wonder what the rent is ?

I believe the rent on all the bars in the new tiger is 50,000 baht a month.

[NamKangMan]

If we are talking about and individual and not Club Med, and we are talking of start up capital of around 5 million baht, let's do the maths.

5,000,000 baht / 30 baht (approximate current exchange rate to Australian Dollars) = $166,666AUD.

$166,666AUD x 5% interest (approximate interest rate for the big banks in Australia - interest paid monthly) = $8333AUD per annum interest/income earnt.

$8333AUD x 30 (convert back to baht) = 249,990 baht earned in interest/income earned per annum.

249,990 baht / 12 (convert to monthly interest/income earnt) = 20,832 baht interest/income earnt per month for taking no risks, having no expenses (tax implications aside) doing no work and retaining your captial investment.

Now compare that investment to dealing with a Thai Landlord, paying tea money, electric, wages, water, rent, high/low season fluctuations, increasing competition island wide - country wide and region wide for the tourist dollar, Buddha Days and election days with no trading if you sell alcohol, property maintainence and repairs, advertising, marketing, legal fees, work permit fees, insurance etc and also let's not forget that you will have to actual work.

That's a lot of risk to take and a lot of hours to work just to try to earn an average 21,000 baht a month in profit when you can earn that doing nothing, and you can still call on your $166,666AUD when you want.

Enough said.

So you think investing $166K for a return of $8K per year is a good investment, you still have to pay tax on the $8K

As of 1st July 2012 the first $18,000AUD of income in Australia is tax free. You start paying tax on your income if you earn over $18,000AUD.

So, you would have to invest around $350,000AUD at 5% interest to earn around $18,000AUD in interest and anything after that is taxed.

$350,000AUD is around 10,500,000 baht.

Compared to buying or starting a business here, I think it's a sound investment.

How many go home broke, everyday, from here???? It's not always the bargirls. It's also people thinking they can do what they were doing back home, or trying their hand at something new, in order to be able to live here. Then, they see a lot of money going out and very little coming in. When their savings are used up, they sell and/or leave.

Some members have talked about the need for a good "business plan" here. I would suggest the best business plan you could have is invest the money in your own country and live off the profits/dividends/rent/interest, or a combination of these, over here.

Invested money it not a lot of peoples sole income so it would be taxed

Why wouldn't you invest $350,000AUD at 5% with an Australian bank which earns $18,000AUD tax free, and then have some shares and/or property in another country, perhaps even your home country, or several different countries?

Thailand is a developing economy, which is better known as a third world nation. Business or no business, why would you put your life savings into Thailand? You wouldn't invest in an African country, so why do it here, it's just as volitile and unstable.

[petercallen]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

Edited December 14, 2012 by petercallen

[britpop]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

Hi, someone told me the definition of a third world country is "corruption", my money and savings in my home country is all tax free, i fill in the necessary paperwork and get no tax taken at source, mind i have to live out of the country 9 months of the year, as for investing in Thailand, i only ever invest what i can afford to loose, i've a couple of condo's here, but could walk away if anything should happen, ie the hysteria and scare mongering about if the king die's, how many times have i heard "you'll loose everything you've invested in Thailand", yeah right!!!

[petercallen]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

Hi, someone told me the definition of a third world country is "corruption", my money and savings in my home country is all tax free, i fill in the necessary paperwork and get no tax taken at source, mind i have to live out of the country 9 months of the year, as for investing in Thailand, i only ever invest what i can afford to loose, i've a couple of condo's here, but could walk away if anything should happen, ie the hysteria and scare mongering about if the king die's, how many times have i heard "you'll loose everything you've invested in Thailand", yeah right!!

There is corruption in every country, check your home country on the Internet, corruption is not the definition of third world it happens everywhere to varying extents

Paying no tax in your home country means you do not make a taxable or any income there

Edited December 14, 2012 by petercallen

[NamKangMan]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

If you have all your income producing assets and investments in Australia, fair chance you will be over the tax free threshold and be taxed, quite heavily. Especially in relation to the capital gains tax you mention.

You critisize me, but you are considering doing exactly what I am suggesting, moving your money offshore. However, you are considering property or a business in Thailand and I would suggest you should look at other countries. What's wrong with a property in England, for example? You can be pretty much under the tax free threshold in different nations.

Have you considered declaring yourself a "non-resident" of Australia for taxation purposes and paying a flat 10% tax on everything?

I'm not giving advice, I'm not qualified to do so. Financial Planning was not my field of expertise. I am just suggesting, for example, that just because every other farang is buying a beer bar here, that doesn't mean beer bars are profitable.

Just what type of business are you considering? Phuket has too much of everything, for anything to be profitable.

As far as Thailand being a third world nation, better known as the politically correct "Less Developed Country" you can read the below link. Scroll down to the list. Have a good look at the list, which includes Thailand. You wouldn't consider any of the other countries on the list to invest in and Thailand is right along side of them, yet, farang keep coming here and losing money or "donating" it to families in Issan.

http://en.wikipedia.org/wiki/Developing_country

Each to their own Peter. I have nothing invested in Thailand by choice. I live off the income made abroad, and those investments and properties are in my name, 100% freehold ownership and backed up by a sound judicial system should I ever have the need to seek a legal remedy.

Some have bought land here with forged land titles because a Government Officer at the Land Office was bribed to produce false land tilte certificates. If you can't even trust a Thai Goverment Department to guarantee the chain of ownership of a parcel of land, what hope have you got here????

[petercallen]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

If you have all your income producing assets and investments in Australia, fair chance you will be over the tax free threshold and be taxed, quite heavily. Especially in relation to the capital gains tax you mention.

You critisize me, but you are considering doing exactly what I am suggesting, moving your money offshore. However, you are considering property or a business in Thailand and I would suggest you should look at other countries. What's wrong with a property in England, for example? You can be pretty much under the tax free threshold in different nations.

Have you considered declaring yourself a "non-resident" of Australia for taxation purposes and paying a flat 10% tax on everything?

I'm not giving advice, I'm not qualified to do so. Financial Planning was not my field of expertise. I am just suggesting, for example, that just because every other farang is buying a beer bar here, that doesn't mean beer bars are profitable.

Just what type of business are you considering? Phuket has too much of everything, for anything to be profitable.

As far as Thailand being a third world nation, better known as the politically correct "Less Developed Country" you can read the below link. Scroll down to the list. Have a good look at the list, which includes Thailand. You wouldn't consider any of the other countries on the list to invest in and Thailand is right along side of them, yet, farang keep coming here and losing money or "donating" it to families in Issan.

http://en.wikipedia....eloping_country

Each to their own Peter. I have nothing invested in Thailand by choice. I live off the income made abroad, and those investments and properties are in my name, 100% freehold ownership and backed up by a sound judicial system should I ever have the need to seek a legal remedy.

Some have bought land here with forged land titles because a Government Officer at the Land Office was bribed to produce false land tilte certificates. If you can't even trust a Thai Goverment Department to guarantee the chain of ownership of a parcel of land, what hope have you got here????

es

You have your opinion and i have mine,who in there right mind would consider buying a beer bar here you might as well stand in the street and give your money away this also applies to some other tourist oriented business

[noob7]

Heads up. Saw a bar for sale online with 2 years left on the lease at the new tiger complex for only 4.6 mil! I wonder what the rent is ?

The rent is a snap, in that location.

The key money for the 3 year contract is doing the thing!

[NamKangMan]

es

You have your opinion and i have mine,who in there right mind would consider buying a beer bar here you might as well stand in the street and give your money away this also applies to some other tourist oriented business

Well, you would have to come up with a very unique idea for a business here and if that idea takes off, and makes money, shortly after, there will be similar businesses popping up everywhere to eat away at your market share.

With such high risks involved with having a business or investment here, the low returns hardly match the high risk profile.

[noob7]

es

You have your opinion and i have mine,who in there right mind would consider buying a beer bar here you might as well stand in the street and give your money away this also applies to some other tourist oriented business

Well, you would have to come up with a very unique idea for a business here and if that idea takes off, and makes money, shortly after, there will be similar businesses popping up everywhere to eat away at your market share.

With such high risks involved with having a business or investment here, the low returns hardly match the high risk profile.

Don't forget about the complaining, by the 'popping up everywhere's', that the Farang business takes money from the 100% Thai businesses.

In special, if the Farang is still doing successful business.

Always, if it doesn't work out for the 'everywhere's' (get rich quickly), b/c of quality/language/ whatever, it's the fault of the successful, never the fault of the 'poppers'.

Phuket has a good and long history about these pattern, best to see in the Diving Industrie.

If they can't beat you in quality, they can in the price. In the end, they may have some money to clean.And beat you this way.

Edited December 14, 2012 by noob7

[petercallen]

Simon43 advice was good but instead of leasing the land only in my name my wife would buy the land in her name and i would lease it from her

Currently undeveloped land is way over priced here except for a few select areas

Maybe things will change but i wont hold my breath waiting for it to happen

It seems only people from USA can own land if investing in business here

[LivinginKata]

Simon43 advice was good but instead of leasing the land only in my name my wife would buy the land in her name and i would lease it from her

Currently undeveloped land is way over priced here except for a few select areas

Maybe things will change but i wont hold my breath waiting for it to happen

It seems only people from USA can own land if investing in business here

As far as I know a US citizen can 100% own a Thai company and that company can buy land in the company name. Not exactly the case that US citizens can own land directly in their own name.

[noob7]

Simon43 advice was good but instead of leasing the land only in my name my wife would buy the land in her name and i would lease it from her

Currently undeveloped land is way over priced here except for a few select areas

Maybe things will change but i wont hold my breath waiting for it to happen

It seems only people from USA can own land if investing in business here

As far as I know a US citizen can 100% own a Thai company and that company can buy land in the company name. Not exactly the case that US citizens can own land directly in their own name.

An US-American can own a Co. 100%, but i'm not sure about that, in case the company owns land.

The minimum requirements with land ownership should imho be the same, like for other companies, with foreign shareholders.

49/51, sometimes 30/70 (foreign/Thai).

I got never other information, not even for US-Americans.

But I'm talking about legal information, not about the 'we can do' 'law' firms, who only make everything possible, so that you have to pay them fees.

The risk is always yours!

Oh, btw:

Even the 40 Million investment is only a 'lifetime' ownership. Not to be inherited. And totally connected to the 40 Million investment.

Edited December 14, 2012 by noob7

[britpop]

Namkagman for someone who likes to give advice on investments you seem to have little personal knowledge and what you think you know comes from the Internet the same as your opinion about Phuket

Interest on money in the bank is not tax free if your taxable income is above the tax free limit the tax free limit is not very much and i doubt anyone in Australia could live on it unless they owned there home and all other assets and then they would have to be careful with there spending

I have money in the bank in Australia and some of it is being used to develop building blocks which i may or may not build houses on next year depending on the economy and rent plus capitol gains is far better than bank interest

I may also reinvest in blue chip shares next year but that also depends on the economy

Please explain if you can why you call Thailand a third world nation, the unemployment is less than 1% and they economy is is improving not going backwards

I am not putting my life savings or all of my assets in Thailand but if i can and be happy with the investment i will as in my opinion the economic future is in China and Asia

You own nothing here and as you have stated previously on this forum you want to look after your children with what assets you have, my children are well established business people and do not need looking but will not miss out and do not have to wait till i die

If i can find a way to invest money in a business here which i am happy with i will do so i intend to spend most of my life in Thailand and have a house here and everything else i want in Thailand

Hi, someone told me the definition of a third world country is "corruption", my money and savings in my home country is all tax free, i fill in the necessary paperwork and get no tax taken at source, mind i have to live out of the country 9 months of the year, as for investing in Thailand, i only ever invest what i can afford to loose, i've a couple of condo's here, but could walk away if anything should happen, ie the hysteria and scare mongering about if the king die's, how many times have i heard "you'll loose everything you've invested in Thailand", yeah right!!

There is corruption in every country, check your home country on the Internet, corruption is not the definition of third world it happens everywhere to varying extents

Paying no tax in your home country means you do not make a taxable or any income there

Hi, i've just looked it up, there are so many meanings related to third world countries, corruption doesn't happen in the states or the UK, it was every ones elses fault about the financial crises, or so bush and Blair said and they are 2 of the most trust worthy peoples representatives on the earth.

[NamKangMan]

Simon43 advice was good but instead of leasing the land only in my name my wife would buy the land in her name and i would lease it from her

Currently undeveloped land is way over priced here except for a few select areas

Maybe things will change but i wont hold my breath waiting for it to happen

It seems only people from USA can own land if investing in business here

As far as I know a US citizen can 100% own a Thai company and that company can buy land in the company name. Not exactly the case that US citizens can own land directly in their own name.

What happens if a non-US farang "buys" (and I use the term losely) land from a US citizen owner of the land?

Does the land go from 100% freehold American "owned" back to usual Thai nominees and farang set up?

Is it possible some Americans can set themselves up in business here where they own the land and farang just lease it off them for 30 years?

[KarenBravo]

Americans cannot own land here. What they are in theory able to do is open a 100% American owned company using the Amity treaty between Thailand and the USA.

[NamKangMan]

Americans cannot own land here. What they are in theory able to do is open a 100% American owned company using the Amity treaty between Thailand and the USA.

So, are you saying that an American owned company can own 100% land here? If so, could a farang lease their land directly off the American company?

[LivinginKata]

Americans cannot own land here. What they are in theory able to do is open a 100% American owned company using the Amity treaty between Thailand and the USA.

So, are you saying that an American owned company can own 100% land here? If so, could a farang lease their land directly off the American company?

Yes, a US owned company registered in Thailand can buy land. As that company can be 100% Owned by US shareholders, then it could be assumed the land is 100% owned. I see no reason why that company cannot lease land to a third party, although all the usual annual company and property taxes would need to be paid.At least that's what I think, best have a company expert check it out.

[Old Croc]

Have you considered declaring yourself a "non-resident" of Australia for taxation purposes and paying a flat 10% tax on everything?

From the current financial year the new tax rate in Australia, for non residents, is 32.5 % for every dollar earned from 0 to $80,000.

Under tax legislation you are automatically considered to be a non-resident after two years out of the country and must pay this rate even if you are a citizen.

Edited December 15, 2012 by Old Croc