Samui Prestige Homes

[highdiver]

thanks highdiver,

thats very clever and all but...

since the new laws are aimed at closing loopholes,

what says they won't close these ones anytime they want to...

main point is that the whole situation is so volatile now and in the future that any investment would have to be considered extremely high risk..

consider the possibility of an even more xenophobic/nationalist government in the future..

very highly possible IMHO

consider what new laws it might enact !!

Agree with you 100%

any one doing business anywhere in the world is subject to changes in policy made by the local govermant.

i hope tha the Thai law makers will understand that attracting forign investment is good.

The action they are taking is well understood. they can not give controll of comunications, energy, electricity, water etc... to forigners.

No one can say what other laws they will make in the future but that is part of the risk in doing business in any country.

[highdiver]

highdiver ,

The problem the Thai government has is not with small land buyers but with giving away control of Thailand's main infrastructure or natural resources control to Foreigners.

If you read the statement from the government it reads" The 50-per cent cap will only apply to companies that deal with areas considered important to national security, or that have an impact on natural resources or Thai culture."

The new amendment is given to protect what Thailand is considering national assets. Infect this request is made by many other countries in the west as well.

They are only correcting the law to prevent what has happened with Singaporeans taking over the communications in Thailand.

for crying out loud ...............................

IS LAND NOT A NATURAL ASSET???

He didn't say assets, he said natural ressources & infrastructure.Land always stays here, you can't take it with you.

What land would you own to hinder natural ressources & infrastructure?

What land would you own to hinder natural ressources & infrastructure? , easily applied to any ...............................

there is no need to cry out loud..... we are in Samui. its not polite to be loud...

Sorry if my initial reply was not clear.

The intention is to protect Thailnd's water resources and energy resources as well as othe vital industries to the Thai economy.

Othe countries set simmiler barriers.

A forign controlled compnay that is not bound to Thailand may have different considerations that can have a huge effect on economy.

The Alien business act was defined to have Thailand decide what is allowed for forigenrs to do and limit forign controll of Thailands main industries. It allso serves as a barrier to stop large scale wetstern companies who are very powerfull and rich competing against thais and putting them out of business.

As the Loop hole caused a situation where Thai companies were realy forign controlled they are closing the hole.

A company that buys land and builds a small house and pays Taxes is legitimate.

A company that is forign controlled though a shre set up and that does land development is not legal. as forigeners are not allowed to do real esate.

if you look at samui you understand why this loop hole must be changed.

[Geppis72]

highdiver tks four your posts, what do you mean exactly with :

"if you look at samui you understand why this loop hole must be changed."

My personal point of view and suggestion to close once for all the Co.Ltd

set up with nominee would be to legalize the land ownership (free market)

to individual single investor (no developer or real estate company) till 1 rai (or Half Rai)

and allow to put the name of the person on Land title.

You eventually pay a new add. ownership tax on it

and foreign could buy only 1 property under their name no more.

(avoid or minimize the speculation)

OR

Allow to buy as per above criteria only in certain

commercial / tourist place.

Sound much easier and good tax benefit for the Govt.

The question is IF the Govt. wants clear up and make it easier....

or they prefer keep all in the grey area to turn the rules as they want

when they want, which is typical unfair....

[RAZZELL]

highdiver tks four your posts, what do you mean exactly with :

"if you look at samui you understand why this loop hole must be changed."

My personal point of view and suggestion to close once for all the Co.Ltd

set up with nominee would be to legalize the land ownership (free market)

to individual single investor (no developer or real estate company) till 1 rai (or Half Rai)

and allow to put the name of the person on Land title.

You eventually pay a new add. ownership tax on it

and foreign could buy only 1 property under their name no more.

(avoid or minimize the speculation)

OR

Allow to buy as per above criteria only in certain

commercial / tourist place.

Sound much easier and good tax benefit for the Govt.

The question is IF the Govt. wants clear up and make it easier....

or they prefer keep all in the grey area to turn the rules as they want

when they want, which is typical unfair....

What's wrong with a free-market? Works in most places in the rest of the world?

Edited January 12, 2007 by RAZZELL

[highdiver]

highdiver tks four your posts, what do you mean exactly with :

"if you look at samui you understand why this loop hole must be changed."

Thanks for your reply.

what i mean.... and I will get a few nasty responses because of this is....

The Thai law prohibits farrangs from doing any land deals or real estate development. by using the above loop hole Farrangs have set up Thai companies with a prefered share structure, so they are a Thai jurisitic and can engage in those activivities.

The intention of the law was that land and real estate was to be contorlled by thais not by farrangs. this loop hole has allowed over 170 farrnag controlled companies to engage in development.

Those companies have only one consideration and that is to make money.. it fine and good. but when all is over it will be the thai people who will need to clear up the mess when all those developers have made the cash and split....

The Thai law requests that any development of more then 10 units or so , will apply and be approved as a Realty developer permit.

At this point of time there are only 2 or 3 properly registered development companies on Samui. the others are by passing the law and the thais will eventually put a stop to this...

I know of al least 2 projects on the island that have being having financial problems and that people who bought from them are now facing to loose the investment. the Developer with all the excuses has made a small fortune , did not pay taxes and ran off.

The Buyers are now holding the Thai govermant responsible as they allowed this developer to opperate. They expect that Thailand will make sure that a developer that is buying land developing and saliing to others will be under the controll of the Aothorities. the Thai govermant can not persue this developer as he is long gone.

dont belive all those hard working realty agents who will be long gone when the sh... hits the fan.

you can buy or lease land as a private individual in Samui and do it under the law.

if you need the land as to build your private house then you can long term lease with a registration in the land office. its legitimate.

if you need the land to make a business (even renting your house out) then you need to be a thai jurisitic, and then open a company. a proper company under the law and you can do it.

It seems that the Thai govermant is tired of all the forigenrs coming to Thailand and taking over , and doing it in a way to by pass the laws.

on the contrary to what it seesm Thailnd has laws and they will be enforced..

they have enforced the Visa rules and the investment rules and now the business rules. and one would expect that they will enforce any law. if you want to stay here then obide the laws of the state.

I have been reading many posts from farrnags on this forum that are full of advices to the Thai govermant on how to improve and make thailand a "worthy"and modern state. but when the Thais try and clear up the mess it is usualy the Farrangs who oppose it.

I allso agree with you on the land matters. it will be a lot easier if the Thai will allow forign ownership for individual residence. that way they can get more taxes from the law obiding farrangs that will buy them. but its up to them it is thailand and we are only guests... and should sometimes remeber to behave like ones.

[Lancashirelad]

any one doing business anywhere in the world is subject to changes in policy made by the local govermant.

i hope tha the Thai law makers will understand that attracting forign investment is good.

The action they are taking is well understood. they can not give controll of comunications, energy, electricity, water etc... to forigners.

..... meanwhile England can sell car manufacturers (TVR), gas companies, and light commercial vehicle manufacturers (LDV) to the Russians!

[chicoman98]

I have not been to Samui yet but I would like to know if any members here have bought property from this company or have had any dealings with them.

I've purchased from Samui Prestige Homes they are legit. I visited the site and actually saw where my villa was going to be built. "The Place" is scheduled to be completed in March '07.... 5-star luxury resort with a few villas still available I believe. The only downside is financing for foreign investors....very difficult (if at all) to get so you need to have cash.

Believing chicoman, a newbie on his 1st mail on this subject, isn't a good idea, be careful with these people and have a Bangkok lawyer look at it before you take step two, IMHO.

Hi SamuiJens - I can understand your cautious approach but I am a legit buyer. I visited Thailand for the first time September '06 and fell in love with Koh Samui. I stayed at the Le Meridian hotel with my girlfriend during which I evaluated several different properties for investment.

After hearing a few horror stories about developments going bankrupt or builders taking your money, I was extra careful of who I'd work with. Things that were important to me to consider a purchase on Samui: reputation of the builder/developer, location, price, ROI, onsite prop mgmt company, planned marketing for after completion (need to fill my villa for income).

Mark Landers & Samui Prestige Homes fit the bill (especially after I found out Mark was going to live in one of the villas and visits the site several times a day.) I toured "The Place" construction site with his partner and liked what I saw.

I'd recommend never buying something international unless you actually visit the site. Even if you just see pictures, it's not worth the risk. Anyhow, my point is I'm a real buyer and would be happy to answer any questions regarding Samui and my experiences setting up a Thai company, etc.

~David

Edited January 15, 2007 by chicoman98

[SamuiJens]

I have not been to Samui yet but I would like to know if any members here have bought property from this company or have had any dealings with them.

I've purchased from Samui Prestige Homes they are legit. I visited the site and actually saw where my villa was going to be built. "The Place" is scheduled to be completed in March '07.... 5-star luxury resort with a few villas still available I believe. The only downside is financing for foreign investors....very difficult (if at all) to get so you need to have cash.

Believing chicoman, a newbie on his 1st mail on this subject, isn't a good idea, be careful with these people and have a Bangkok lawyer look at it before you take step two, IMHO.

Hi SamuiJens - I can understand your cautious approach but I am a legit buyer. I visited Thailand for the first time September '06 and fell in love with Koh Samui. I stayed at the Le Meridian hotel with my girlfriend during which I evaluated several different properties for investment.

After hearing a few horror stories about developments going bankrupt or builders taking your money, I was extra careful of who I'd work with. Things that were important to me to consider a purchase on Samui: reputation of the builder/developer, location, price, ROI, onsite prop mgmt company, planned marketing for after completion (need to fill my villa for income).

Mark Landers & Samui Prestige Homes fit the bill (especially after I found out Mark was going to live in one of the villas and visits the site several times a day.) I toured "The Place" construction site with his partner and liked what I saw.

I'd recommend never buying something international unless you actually visit the site. Even if you just see pictures, it's not worth the risk. Anyhow, my point is I'm a real buyer and would be happy to answer any questions regarding Samui and my experiences setting up a Thai company, etc.

~David

I think you're sincere, my problem is with people that TAKE advice on such important things, as buying houses, etc., before having a Bangkok lawyer (one they can trust) look and guide them, are looking for trouble. I totally agree that you should never buy before seeing the place, BUT also a trust worthy lawyer, since you are an unknown to most of us, we can only ask your advice and experience and then go to a lawyer (not on Samui) to be sure all is on the up and up. If they don't and buy on your say so and get burned, then they're in hot water, right! Or will you cover for them? I don't think so, chicoman.

Edited January 15, 2007 by SamuiJens