New Requirement For New Thai Companies: Paid-Up Share Capital

[crazykopite]

Can america still hold 100% of a company??

I recall reading an article a few months ago that the USA had an agreement with Thailand that American Citizans could obtain a 100 % of a Company but please do not take my word for it if I can route out where I found the article I will post it !!!!!!!

[phuketrichard]

yes we can, I only wondr if they will chage this in the future as well.

[jamescollister]

Simple fact, you can not own or control land in Thailand. All the schemes are just that only schemes, never heard of one that has held up in a Thai court. Happy to hear from the legal guys with a farang case the was upheld.

The only legal way to control land is a 50 year lease through the BOI and unless you are talking car manufactures, big industry or millions of Dollars of investment you are not in the game.

Have a Limited Partnership company here, no problem. Wife is Thai and Australian, kids born in Australia and are Thai citizens. Most of the money used to set up was transferred from the wife bank account in OZ.

Am I safe, no way, sure if things went bad the family law courts would award me plane fair out of the country.

You can own a condo, the law allows, but I think the condo has to be 60% Thai owned.

If in doubt rent or be prepare to walk away.

All life is a risk, then you die, up to you. Jim

[Rancid]

i have never understood foreigners putting themselves at risk of this kind of torture

Much easier to keep your money in assets in your home country and simply rent here

Many people actually form companies to conduct a business and not for the purchase of land. The idea of nominees of course was to ensure that if the business was sucessful that the shareholders wouldn't vote you out. If your wife holds 51% then she can pretty much turf you as MD and decide to pay no income distribution or whatever. No doubt this will of course have no affect whatsoever on Chinese investments.

[tragickingdom]

As if that changes anything at all. Just go to a good law office and they make the arrangements. Working with A and B shares works and I do not see what the paid up capital has to do with the ownership shares at all. A bit more red tape a bit higher legal bill so it be.....

[simple1]

I bought a condo of the plan. It should be completed by the end of March. I bought it in Thai company name. I have not set up a company as yet. it is required from me to set up company within a year of complition of the condo. Question is; will the new law effect me and how will it effect me? can you help please.

I assume from your post you have paid cash up front. Have you checked the build progress; still on track? If you are not comfortable with the answers you're getting re the new company laws, call the developer to see if any foreigner allocation still available. If you have a trusted friend they can go to the Land Office to confirm the status of foreign ownership for the project. If everything looks good and happy to proceed, negotiate a revised price to transfer to foreign ownership and come to Thailand to finalise the paperwork and payment.

[jamescollister]

As if that changes anything at all. Just go to a good law office and they make the arrangements. Working with A and B shares works and I do not see what the paid up capital has to do with the ownership shares at all. A bit more red tape a bit higher legal bill so it be.....

Think what it means is the Thais own the majority of the company, would you give me 51% of a house in your own in your country, to a stranger. Who could sell or get loans off their investment. Think not. play with fire and you may will get burnt.

Read recently on this forum, where a reward would be paid to persons informing on fraudulent land ownership deals.

Good chance your own shyster lawyer would put people in. Jim

[Meetoo]

_{This new Order is merely enforcing the existing rules and it has been on the cards for a long time.}

_{I would advise people looking for ways to flout the law NOT to write about these methods on this forum. Don't you know that that Thai authorities read this too?}

_{Presumably the Order will affect new registrations only. It might not affect those already 'owning' companies with Thai nominee shareholders. Not yet anyway.}

You really think they read our comments here on TV and / or care even if they do..............?? Read between the lines here... Let's get rid of these farangs UNLESS THEY HAVE LOTS OF MULAH to invest here and blindly that too!! End of story ! And yes it's time to go home so no need for any of you to tell me to do so ...

[SNGLIFE]

...or finding a real wife and putting everything in her name as is should be.

...or finding a fake wife, knock her up, and put the land in the kid's name.

[falkan]

Oh, God does that mean that I will loose everything as I paid 1,300.000 BHT for condo of the plan. will I lose it before It is finished?

There are many existing Thai Ltd Companies for sale that have been registered for a number of years all you have to do as far as I am aware is to purchase it and have your name included on it I was always told that it would be wise to keep the old Farang shareholder on the Company for a year giving them 1 share in other words you would hold 48% . I understand that this new instruction takes place after 2nd January 2013 so you have still time to set up a Thai Company at its current rules it is very straight forward.

Thank you but I live in Australia . How can I form a copany before 3rd of January?

You sir, are fuc_ked.

I start the bidding at 500k..

700k..

[LivinLOS]

Simple fact, you can not own or control land in Thailand. All the schemes are just that only schemes, never heard of one that has held up in a Thai court.

I have a usufruct.. For the rest of my lifetime I control that land.. Beyond my lifetime, I am not too bothered.

[jamescollister]

Simple fact, you can not own or control land in Thailand. All the schemes are just that only schemes, never heard of one that has held up in a Thai court.

I have a usufruct.. For the rest of my lifetime I control that land.. Beyond my lifetime, I am not too bothered.

Another shyster lawyer bull shit baffles brains plan. No such thing in Thailand. Usafruct is form old Roman law, not seen any Roman ruins around here.

Shyster lawyer is using a Thai law that allows you to gather fruit, nothing more. Then using a bit more B/S converts gathering fruit to the fruits of the land. Ergo you can build a nuke power plant.

As a farang you can't even gather fruit, agriculture is an excluded occupation. If a Usufruct was real in Thailand, you have a life time WP to farm. Jim

[Arkady]

Simple fact, you can not own or control land in Thailand. All the schemes are just that only schemes, never heard of one that has held up in a Thai court.

I have a usufruct.. For the rest of my lifetime I control that land.. Beyond my lifetime, I am not too bothered.

Another shyster lawyer bull shit baffles brains plan. No such thing in Thailand. Usafruct is form old Roman law, not seen any Roman ruins around here.

Shyster lawyer is using a Thai law that allows you to gather fruit, nothing more. Then using a bit more B/S converts gathering fruit to the fruits of the land. Ergo you can build a nuke power plant.

As a farang you can't even gather fruit, agriculture is an excluded occupation. If a Usufruct was real in Thailand, you have a life time WP to farm. Jim

Actually there is no evidence that any of the land holding schemes have been challenged in court yet.

Usufruct is common in European law and is part of the Thai Civil and Commercial Code which was largely copied from French law. I happen to have a life time usufruct on a house and land in Bangkok. It is not just for farming. The wording of the agreement permits use and enjoyment of the land, the buildings and the fruit thereof for my lifetime.

[rayw]

Foreign Ownership in Thailand

Introduction:

Foreigners from all around the world buy real estate, both residential & commercial in Thailand. This essay attempts to explain the current laws & legal options available to potential foreign (non-Thai) purchasers.

Should you find any "passages" to be ambiguous or need further clarification on any matter, please do not hesitate in contacting us.

Ownership methods:

I. Condominium:

Acquiring a condominium is gaining in popularity amongst foreigners. A condominium is a building that can have its separate portions sold to individuals or groups for personal property ownership.

Foreign purchasers are allowed under Thai law to purchase and own condominiums in Thailand.

There are five classes of criteria which alternative qualify foreigners as owners of condominium:

a) Holding a residency permit under Thai Immigration law, or

b ) Permitted to stay in Thailand under the Investment Promotion law (BIO), or

c) A Thai registered entity with at least 51% of share held by Thai shareholder, or

d) Foreign juristic entity in receipt of a promotion certificate under the Investment Promotion law (BOI), or

e) A foreigner or foreign entity remitting a foreign currency into Thailand, or withdrawing money from Thai Baht account of the persons residing abroad, or withdrawing from foreign currency account.

Fortunately the last criteria applies to most foreign condominium purchasers and therefore it is the most typical way for foreigners to buy a condominium in Thailand.

According to the condominium act, foreigners or a foreign legal entity normally can acquire up to, but not exceeding 49% of a condominium block (direct freehold).

If a foreigner wants to register the purchase at the Land Office he has to submit a letter of guarantee from the condominium juristic person which proofs the proportion of foreign ownership among other documents. If the quota of 49% is already used, he can set a Thai company to purchase a condominium without restrictions. Another option is leasing. Condo-minium leases, like land leased are generally prepaid for 30 years with option s of renewing for two additional 30 year periods. In effect, the pre-paid rent is the same as a freehold or purchase price.

A further restriction according to the Condominium Act is that a foreigner must bring currency into Thailand to finance the purchase of the condominium. However, expats which are working in Thailand can use funds earned in Thailand on condition that their funds are paid into a non-resident account.

Further, the purchaser must obtain a Foreign Exchange Transaction form(FET) from the bank as proof of the remittance. This form will be issued by the receiving bank and is filed at the Land Department when the foreign purchaser registers the purchase. The amount of money fixed in the FET form must cover the whole of the condominium price. Should the remittance be less than $20000 USD, the bank will issue a "credit advice" in English which is not acceptable by the Land Office as proof of remittance for the condominium purchase. In case of this, the purchaser has to ask the bank to issue a "letter of guarantee" as evidence of remittance.

II. Investment / BOI:

Since 2002, a foreigner is permitted by the Ministry of Interior to purchase land up to one rai (1600 square meters) for residential purpose, on condition that he invests 40 million Baht in Thailand, for some purpose other than ownership of real estate itself. Actually, this option is problematical for the majority of foreign investors because of the legal restrictions involved and is relatively seldom used.

III. Leasing:

Leasing is a popular and straightforward option to acquire a property in Thailand. The maximum duration of a lease permitted under Thai law for non-commercial usage is 30 years, (for commercial usage 50 years),renewable for two additional terms of 30 years (commercial usage 50 years), if contractually agreed.

IMPORTANT! Any land leased for more than 3 years must be registered at the Land Department or it is only enforceable for the first three years.

It is possible under Thai law to lease land as an individual rather than through a Thai company.

IV. Corporate Ownership:

A further option is to establish a Thailand-registered company, preferably a Thai limited company, to acquire land. It needs a minimum of 7 different shareholders at all times, but only one director who can be a foreigner. At the beginning this director may have to be Thai in order to apply for the Tax ID and VAT registration of the Company. Thai law (land Code) requires that at lease 51% of the shares are held by Thai nationals and a maximum 49% of the shares may be owned by foreign shareholder because the land Code prohibition on foreign land ownership includes not only foreign individuals, but also Thai registered companies in which foreigners own more that 49% of the shares. Because there's no restriction under Thai law that one share must equal one vote, it is allowed to issue classified shares: The A-Shares("Ordinary Shares") where the holder one share is entitled to one vote and theB-Shares ("preferred Share") where a shareholder must have multiple shares in order to obtain one vote. The foreign shareholders will subscribe to all A-Shares, whereby the B-shares are held by Thai holders. This structure enables the foreign minority shareholder to hold fewer numbers of shares, but in fact control the company by voting rights.

Since the foreign shareholder of the Thai Company can be a natural or a juristic person, it is possible to use an off-shore entity, e.g.a BVI (British Virgin Island) Company, for tax efficiency.

V. Managed Estates:

Currently, managed estates are very common. They all vary in structure. Normally the managed property is offered as a freehold purchase through Thai companies or with a leasehold structure concerning the buildings in combination with subscribing to a certain number of shares in a Thai company, which owns the land underneath the properties that are leased. This structure is advisable because the lessees of the buildings are more secure when they are also indirectly the "joint-landlords". With a land owning company which effectly protection that a lease is protected from being terminated by requiring typically at lease 75% of the owners to terminate a lease.

The potential problem with an "owner operated" managed estate is the necessity for the majority of the owners to confer & meet with each other. This may not be deemed as a practical or indeed attractive commitment.

Thai company law has changed and now only 3 shareholders are legally required for a registered limited company here (I am not sure but this may be restricted to only small companies under a set share issue value but easily enough for most house ownership companies and small businesses). Sure it used to be 7 shareholders minimum but now it is only 3 and I know this is the case from recent first hand experience with a company share holder change from 7 to 3 shareholders, and from some very reliable legal information too. So might be worth checking up all of the above info in case other issues have changed as I can only talk about the minimum number of shareholders requirement.

[Arkady]

Doesn't look good to me, it'll become nigh on to impossible to for example start a small company with your Thai family as majority shareholders, unless they have proven assets.

The way I read it it doesn't even look at paid up capital, but rather the face value of the shares.

So a 2 million Baht registered company (minimum needed to allow one foreign employee), would see Thai shareholders owning shares amounting to just over 1 million Baht! So they would need to be able to prove they actually own/earned that kind of money!

As Arkady posted, this will not be good at all for small investors currently trying to do all as perfectly legal as possible!

They assume the paid-up capital will the same as the par value of the shares. It is rare in Thailand for the paid-up value to be more than the par value but it can often be the case that the par value is never fully paid-up. The translation by law firm is a bit wobbly but theThai text actually says that "the documents must show an amount of money that is consistent with the amount to be invested". So that is quite clear, since registering par value clearly indicates the minimum amount a share holder intends to pay up for his shares, even if this won't happen immediately.

The devil is of course in the details and it is worth noting that the DBD doesn't define what it considers consistent with the amount to be invested. This could be anything from simply the actual amount to be invested to a multiple of several times the amount to be invested, if the DBD argues that a prudent investor wouldn't blow his entire wad on one investment. They will also almost certainly adopt the Land Dept's approach at some point by going one step further back and asking for evidence that Thai shareholders earned the money themselves or borrowed it with registered loan documents.

It is clearly a first bare bones step anyway and more detail will be added later on, since they will want to close loopholes as they emerge. The most glaring of these is going to be that foreigners will set up companies with no ostensible foreign involvement and become shareholders and authorised directors soon after registration. I am not sure how they will do this without causing trouble to genuinely Thai controlled medium and large businesses that have foreign shareholders and foreign or authorised directors who might also have a large number of Thai shareholders who want resist demands for their bank statements. They probably don't yet know how they are going to do this either which may be why this is missing from the initial regulation. They would clearly exempt public companies from any follow-up measures and might introduce a paid-up capital cut off point, just requiring Thai evidence of funding by Thai shareholders when new foreigners come into companies with paid-up capital of less than, say, 30 million. It would also make sense to have a cut off for older companies, since getting a bank statement from someone who invested in a start-up 20 years ago and is still a shareholder today is not going to be very relevant and banks will provide statements from 20 years ago.

Certainly a retrogressive move from evil xenophobes at the utterly misnamed Department of Business Development.

Edited December 21, 2012 by Arkady

[jamescollister]

Simple fact, you can not own or control land in Thailand. All the schemes are just that only schemes, never heard of one that has held up in a Thai court.

I have a usufruct.. For the rest of my lifetime I control that land.. Beyond my lifetime, I am not too bothered.

Another shyster lawyer bull shit baffles brains plan. No such thing in Thailand. Usafruct is form old Roman law, not seen any Roman ruins around here.

Shyster lawyer is using a Thai law that allows you to gather fruit, nothing more. Then using a bit more B/S converts gathering fruit to the fruits of the land. Ergo you can build a nuke power plant.

As a farang you can't even gather fruit, agriculture is an excluded occupation. If a Usufruct was real in Thailand, you have a life time WP to farm. Jim

Actually there is no evidence that any of the land holding schemes have been challenged in court yet.

Usufruct is common in European law and is part of the Thai Civil and Commercial Code which was largely copied from French law. I happen to have a life time usufruct on a house and land in Bangkok. It is not just for farming. The wording of the agreement permits use and enjoyment of the land, the buildings and the fruit thereof for my lifetime.

News to me that there is something in Thai civil law regarding Usufructs, far as I know all these alleged Usafructs are made using the right to collect fruit from an orchard law.

Also there have been cases under this law that have been through the courts, only Thai on Thai, no farang involvement. Reason being I believe, on what grounds could you take legal action.

Your agreement is just that and agreement by the land owner to let you live there, it has no legal standing. The owner can withdrawn their consent. Your only right under the law is the right to collect fruit, it gives no right to live on or build on the lands, If the owner does not withdrawn the right to collect fruit and tells you to sling your hook somewhere else, what are you taking court action over, as they have not broken the legal contract to let you collect the fruit.

Add to that you have probably broken a few criminal laws, like using a Thai in order to gain control of land. Remember it is not legal to give money to a Thai to buy land for a farang. Doubt you met some very nice Thai who just gave you land to build on for free.

Been here over 10 years and as of yet never heard of one of these schemes working. As I said on another threat, if you are going to waste money on these, how can I circumvent Thai law schemes. Get 2 lawyers, one to draw up the contract and one to draw up a contract that makes the first law firm libel for any loses you may incur in the event you lose your house. Don't think you will find any lawyers that will agree to take ownership of their legal advice. Like lawyers everywhere, they just want your money in their pocket and will tell you what you want to hear. Jim

[Khun Jean]

Well James, you have something to learn then.

[monty]

Usufructs are very much set in law.

It is not just an "agreement" made between 2 persons, but is actually registered on the land title deed, with fees/taxes paid to the land department as set in the regualtions...

Sent from my GT-I9001 using Thaivisa Connect App

[Tatsujin]

Usufructs are very much set in law.

It is not just an "agreement" made between 2 persons, but is actually registered on the land title deed, with fees/taxes paid to the land department as set in the regualtions...

Sent from my GT-I9001 using Thaivisa Connect App

Which is great right up to the point where you go head-to-head with a Thai in a disagreement and that lovely piece of paper suddenly isn't worth a whole hell of a lot because of some loophole or reinterpretation of the law.

[jamescollister]

Well James, you have something to learn then.

There is a lot on the net about this subject, mostly by real estate agents and law firms selling their deals. One thing I note that most fail to say is the land owner can give more than one Usufruct out on the same bit off land. The law is not meant to be for a back door home ownership. It is a right to use the land for things like mining etc.

As said, read lots of sad story's over the years of people losing it all, never read or heard of one winning and this law is not new, been around for a long time.

Please cite a case where a farang has kept his house under these laws, I can't find one. Simple fact a foreigner can not own or control land in Thailand unless under a BOI 50 year lease. If Usufruck were so iron clad why would companies like Toyota, etc not use them. What stops me or anyone else, Tesco's 7/11 not using them to have 100% ownership. Or the Chinese buying up all the rice land, rubber, cassava land. Jim

[mortenaa]

Usufructs are very much set in law.

It is not just an "agreement" made between 2 persons, but is actually registered on the land title deed, with fees/taxes paid to the land department as set in the regualtions...

Sent from my GT-I9001 using Thaivisa Connect App

Which is great right up to the point where you go head-to-head with a Thai in a disagreement and that lovely piece of paper suddenly isn't worth a whole hell of a lot because of some loophole or reinterpretation of the law.

That piece of paper (deed title) which is registered at the Land Department, with your name on it is of course worth a whole lot..

[mortenaa]

Well James, you have something to learn then.

There is a lot on the net about this subject, mostly by real estate agents and law firms selling their deals. One thing I note that most fail to say is the land owner can give more than one Usufruct out on the same bit off land. The law is not meant to be for a back door home ownership. It is a right to use the land for things like mining etc.

As said, read lots of sad story's over the years of people losing it all, never read or heard of one winning and this law is not new, been around for a long time.

Please cite a case where a farang has kept his house under these laws, I can't find one. Simple fact a foreigner can not own or control land in Thailand unless under a BOI 50 year lease. If Usufruck were so iron clad why would companies like Toyota, etc not use them. What stops me or anyone else, Tesco's 7/11 not using them to have 100% ownership. Or the Chinese buying up all the rice land, rubber, cassava land. Jim

How would it be possible to register several lease holders on the same deed title? Please cite a case where that actually happened, and a foreigner lost his house.

[jamescollister]

Well James, you have something to learn then.

There is a lot on the net about this subject, mostly by real estate agents and law firms selling their deals. One thing I note that most fail to say is the land owner can give more than one Usufruct out on the same bit off land. The law is not meant to be for a back door home ownership. It is a right to use the land for things like mining etc.

As said, read lots of sad story's over the years of people losing it all, never read or heard of one winning and this law is not new, been around for a long time.

Please cite a case where a farang has kept his house under these laws, I can't find one. Simple fact a foreigner can not own or control land in Thailand unless under a BOI 50 year lease. If Usufruck were so iron clad why would companies like Toyota, etc not use them. What stops me or anyone else, Tesco's 7/11 not using them to have 100% ownership. Or the Chinese buying up all the rice land, rubber, cassava land. Jim

How would it be possible to register several lease holders on the same deed title? Please cite a case where that actually happened, and a foreigner lost his house.

You give one guy the right to collect the fruit \and another the right to to grow onions.

As for a farang losing his house, can't cite a case, as how would a case get to the high court in the fist place.

My wife can sign an agreement that I owe Issan. not going to go far in the courts and definitely not going to the high court.

As said earlier, not seen one of these land owing scheme hole up, it's the law here only a Thai may own land and any scheme to circumvent this law will not hold up in court. Jim

[soi41]

i have never understood foreigners putting themselves at risk of this kind of torture

Much easier to keep your money in assets in your home country and simply rent here

Sometimes if you want to win the lottery, you have to buy a ticket!

After selling everything in my homecountry 10 years ago, I moved here and did all the things, you according to most posters here shouldn't do. Bought a house i my wifes name, bought 2 landplots and another house (rental) all in my wifes name.

All within marriage. Opened a business, yes you guessed it in madams name. Invested money in SET, up more than 35% this year. Yes I was in the market 2008=buying opportunity! If we sold today, we would get at least 3 times the money I brought here in baht. If we planned to go to Europe, add another 20% exchangerate gain.

So no reason to keep your assets in your homecountry, learn how the system is working here, and use it to your advantage.

I still meet expats here, telling me how smart they are keeping their money back home, in a fixed interestaccount giving them 3.5% a year. Not very difficult to find serious PF's here returning almost the double.

So IMO if you retire to Thailand, do it with 100% of your heart and assets!

[jamescollister]

i have never understood foreigners putting themselves at risk of this kind of torture

Much easier to keep your money in assets in your home country and simply rent here

Sometimes if you want to win the lottery, you have to buy a ticket!

After selling everything in my homecountry 10 years ago, I moved here and did all the things, you according to most posters here shouldn't do. Bought a house i my wifes name, bought 2 landplots and another house (rental) all in my wifes name.

All within marriage. Opened a business, yes you guessed it in madams name. Invested money in SET, up more than 35% this year. Yes I was in the market 2008=buying opportunity! If we sold today, we would get at least 3 times the money I brought here in baht. If we planned to go to Europe, add another 20% exchangerate gain.

So no reason to keep your assets in your homecountry, learn how the system is working here, and use it to your advantage.

I still meet expats here, telling me how smart they are keeping their money back home, in a fixed interestaccount giving them 3.5% a year. Not very difficult to find serious PF's here returning almost the double.

So IMO if you retire to Thailand, do it with 100% of your heart and assets!

Good luck too you, and an adventures heart has payed off. I came with less than $200,000, and made a living. Have 2 small kids and on paper at least, in today's prices they have nearly 1 mill US each. I am still broke and not doubt will die that way.

Never expected to be rich, only hoped for a good time. Jim

Edited December 21, 2012 by jamescollister

[jamescollister]

Well James, you have something to learn then.

There is a lot on the net about this subject, mostly by real estate agents and law firms selling their deals. One thing I note that most fail to say is the land owner can give more than one Usufruct out on the same bit off land. The law is not meant to be for a back door home ownership. It is a right to use the land for things like mining etc.

As said, read lots of sad story's over the years of people losing it all, never read or heard of one winning and this law is not new, been around for a long time.

Please cite a case where a farang has kept his house under these laws, I can't find one. Simple fact a foreigner can not own or control land in Thailand unless under a BOI 50 year lease. If Usufruck were so iron clad why would companies like Toyota, etc not use them. What stops me or anyone else, Tesco's 7/11 not using them to have 100% ownership. Or the Chinese buying up all the rice land, rubber, cassava land. Jim

How would it be possible to register several lease holders on the same deed title? Please cite a case where that actually happened, and a foreigner lost his house.

Section 1469 of the Thai civil code is clear on this , a Thai partner can terminate the usufruct given to the foreign husband/wife at any time (section 1469 'Any agreement concluded between husband and wife during marriage may be avoided by either of them at any time during marriage or within one year from the day of dissolution of marriage; provided that the right of third persons acting in good faith is not affected thereby'). Jim

[Tatsujin]

Just for people's further edification:

http://www.pricesano...in-thailand.php

And this one has some real corkers in it:

Edited December 22, 2012 by Tatsujin

[Asiantravel]

i have never understood foreigners putting themselves at risk of this kind of torture

Much easier to keep your money in assets in your home country and simply rent here

Sometimes if you want to win the lottery, you have to buy a ticket!

After selling everything in my homecountry 10 years ago, I moved here and did all the things, you according to most posters here shouldn't do. Bought a house i my wifes name, bought 2 landplots and another house (rental) all in my wifes name.

All within marriage. Opened a business, yes you guessed it in madams name. Invested money in SET, up more than 35% this year. Yes I was in the market 2008=buying opportunity! If we sold today, we would get at least 3 times the money I brought here in baht. If we planned to go to Europe, add another 20% exchangerate gain.

So no reason to keep your assets in your homecountry, learn how the system is working here, and use it to your advantage.

I still meet expats here, telling me how smart they are keeping their money back home, in a fixed interestaccount giving them 3.5% a year. Not very difficult to find serious PF's here returning almost the double.

So IMO if you retire to Thailand, do it with 100% of your heart and assets!

Good luck too you, and an adventures heart has payed off. I came with less than $200,000, and made a living. Have 2 small kids and on paper at least, in today's prices they have nearly 1 mill US each. I am still broke and not doubt will die that way.

Never expected to be rich, only hoped for a good time. Jim

you dont have to own ANYTHING here to have a bloody great time ....

And i feel more comfortable knowing that if i want to buy or sell anything

in my home country it is a level playing field i.e. a REAL market for everyone

-not this 49% of this or 49% of that

The thing i have noticed about the Thai's and visa's and rules is that they

simply cant leave things alone. Who wants to wake every morning wondering

what rules are they going to change this week ? They fiddle around here and

fiddle around there and ultmitately when it comes down to it they are

NOT " jai di " regarding the foreigner. You can see it in the way they

are creating every brick wall and hurdle they can think of.

I feel no worse off by not owning here and in fact its good to know if they get too carried

away with their stupid rules and regulations i can just lift anchor and move to another

SE Asian destination

Edited December 23, 2012 by Asiantravel

[jamescollister]

i have never understood foreigners putting themselves at risk of this kind of torture

Much easier to keep your money in assets in your home country and simply rent here

Sometimes if you want to win the lottery, you have to buy a ticket!

After selling everything in my homecountry 10 years ago, I moved here and did all the things, you according to most posters here shouldn't do. Bought a house i my wifes name, bought 2 landplots and another house (rental) all in my wifes name.

All within marriage. Opened a business, yes you guessed it in madams name. Invested money in SET, up more than 35% this year. Yes I was in the market 2008=buying opportunity! If we sold today, we would get at least 3 times the money I brought here in baht. If we planned to go to Europe, add another 20% exchangerate gain.

So no reason to keep your assets in your homecountry, learn how the system is working here, and use it to your advantage.

I still meet expats here, telling me how smart they are keeping their money back home, in a fixed interestaccount giving them 3.5% a year. Not very difficult to find serious PF's here returning almost the double.

So IMO if you retire to Thailand, do it with 100% of your heart and assets!

Good luck too you, and an adventures heart has payed off. I came with less than $200,000, and made a living. Have 2 small kids and on paper at least, in today's prices they have nearly 1 mill US each. I am still broke and not doubt will die that way.

Never expected to be rich, only hoped for a good time. Jim

you dont have to own ANYTHING here to have a bloody great time ....

And i feel more comfortable knowing that if i want to buy or sell anything

in my home country it is a level playing field i.e. a REAL market for everyone

-not this 49% of this or 49% of that

The thing i have noticed about the Thai's and visa's and rules is that they

simply cant leave things alone. Who wants to wake every morning wondering

what rules are they going to change this week ? They fiddle around here and

fiddle around there and ultmitately when it comes down to it they are

NOT " jai di " regarding the foreigner. You can see it in the way they

are creating every brick wall and hurdle they can think of.

I feel no worse off by not owning here and in fact its good to know if they get too carried

away with their stupid rules and regulations i can just lift anchor and move to another

SE Asian destination

Horses for courses, my case 2 kids born in Australia, both Thai citizens. Future in OZ, grow up get a job and join the rat race. Future in Thailand, may be somewhat brighter, own some rubber plantations and a small factory. See their dad and mum everyday, unlike in OZ where dad worked shifts, fast turn around days and 12 hours days at times.

Not bad for me or the wife for that matter, I get to play with the kids, go swimming, drink beer, wife is a home maker doesn't have to work.

No one knows what tomorrow well bring, but think we are a happier family here than back in the other world. If they change the rules and make it impossible for me to stay, will throw my passport into the Dom Noi river and worry about immigration if they ever come to the badlands of Issan. Jim

[tombkk]

OK guys, let's stay on topic. The topic is the paid-up share capital for Thai shareholders in a company, not usufruct.