Patong property market

[LivinginKata]

@ LIK

What about the Thai "nominees?" What's stopping them from "lining up" against you in a vote. You only hold 49%, they hold 51%.

It's hardly a wise business decision to pay 100% of the price, to own 49% of the product.

Nothing can stop them. I stated that quite clearly.

Is it a wise decision to buy a property in your home country where you wife can claim 50% under the legal system. I suppose if you have no legal wife then you would be free and clear.

In my case I am married to Thai national who holds the other 49%, my 49% (after the land transfer I upped my 40% to 49%). My shares cannot be taken away from me, so what's the problem NKM.

[LivinginKata]

You can always buy 40 million baht in government bonds, that allows you to purchase a residence up to one rai in your name. Needs interior ministry approval but it's simple with the bonds.

OK Hans, let's get back to the land of TV member reality.

[hansgruber]

You can always buy 40 million baht in government bonds, that allows you to purchase a residence up to one rai in your name. Needs interior ministry approval but it's simple with the bonds.

OK Hans, let's get back to the land of TV member reality.

That's the reality. Check with a lawyer.

[xylophone]

As I understand it the company must be trading, it cant be a shell company^^^

Yes, if it is an active company it is legal, if not active/shell it is illegal.

@ LIK

What about the Thai "nominees?" What's stopping them from "lining up" against you in a vote. You only hold 49%, they hold 51%.

It's hardly a wise business decision to pay 100% of the price, to own 49% of the product.

Nothing can stop them. I stated that quite clearly.

Is it a wise decision to buy a property in your home country where you wife can claim 50% under the legal system. I suppose if you have no legal wife then you would be free and clear.

In my case I am married to Thai national who holds the other 49%, my 49% (after the land transfer I upped my 40% to 49%). My shares cannot be taken away from me, so what's the problem NKM.

I think this is where the "arguments" become confused, because no matter whichever way the deal is sliced, the farang can never own the land. So why would one bother with setting up a company with the wife as a shareholder when you could do it just as easily with the normal 30 year lease arrangement? Either way, you never own the land?

My main point was that many of the farangs here who have bought their houses through the company route, whether the company is trading or not, have done so by means of acquiring the remaining shareholding of their company through their lawyers "machinations" and they then think because they own the company, they own the house and land, which is simply not true. Just about every farang who has bought a house using this system (who I have spoken to) really does think that they are okay and actually own everything.

[LivinginKata]

You can always buy 40 million baht in government bonds, that allows you to purchase a residence up to one rai in your name. Needs interior ministry approval but it's simple with the bonds.

OK Hans, let's get back to the land of TV member reality.

That's the reality. Check with a lawyer.

I guess you missed my sarcasm. Maybe you are in the realms if buying 40 million baht of Thai gov bonds. Most of us are not.

[NamKangMan]

@ LIK

What about the Thai "nominees?" What's stopping them from "lining up" against you in a vote. You only hold 49%, they hold 51%.

It's hardly a wise business decision to pay 100% of the price, to own 49% of the product.

Nothing can stop them. I stated that quite clearly.

Is it a wise decision to buy a property in your home country where you wife can claim 50% under the legal system. I suppose if you have no legal wife then you would be free and clear.

In my case I am married to Thai national who holds the other 49%, my 49% (after the land transfer I upped my 40% to 49%). My shares cannot be taken away from me, so what's the problem NKM.

My properties in my home country is in a "Family Trust." The trust owns it, not me, but I have full use of the properties. :)

Who "owns" the other 2% of your land here?

[LivinginKata]

<snip>

Who "owns" the other 2% of your land here?

You don't need to know ...