Is our property protected in Thailand

[expatsupreme]

If you have a debt in Europe for example, and have a condo in Thailand, will European government force Thai government to sell your condo to cover your debt?

How does it work?

Just a scenario what if, that is running in my head

[Soutpeel]

They can't

[Thaiberius]

No, not unless you've entered into some convoluted loan guarantee using your condo in Thailand.

[MrBanks]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

[Suradit69]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

[bankei]

Yes they could. Judgement could be in home country and then this could be registered in thailand and enforced here - property seized. But whether they would do this is a different question. It would be costly and complex and they woulld only consider it if they suspeced you had property with value in Thailand.

Bankei

[mancub]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

Guess you also protect yourself from any unforeseen circumstances.... by not having any. But, of course, nothing bad ever happens in your Fantasy Thailand .

[Suradit69]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

Guess you also protect yourself from any unforeseen circumstances.... by not having any. But, of course, nothing bad ever happens in your Fantasy Thailand .

"any unforeseen circumstances."

For some people "unforeseen circumstances" is a blanket term for just about every aspect of their lives. By cleverly ensuring that I didn't incur debt beyond my means, I made sure it couldn't unexpectedly bite me in the derriere. Pretending you are a victim of unforeseen circumstances is just a cop out for lack of common sense.

It's amusing how the Farang Fantasy Factory is obsessed with the alleged Thai concern for face-saving and their supposed lack of financial savvy, but when it comes to farang who were overtaken by debts that were incurred irresponsibly, the Farang Face Saving mode kicks in and the woe-is-me defense is mounted and the nanny-state-owes-me whine kicks in. Grow up. Accept responsibility for the foolish things you've done. Theproblems are unforeseen only if you were too self-involved and self-centered to see them.

[xoxman]

Foreigners cannot own property in Thailand (except condos), so what do you want to protect ? It's gone already...

Edited May 5, 2014 by xoxman

[expatsupreme]

condo, i mean can EU country find out you have condo in Thailand and force Thai government to just sell it below the market value?

[Suradit69]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

Guess you also protect yourself from any unforeseen circumstances.... by not having any. But, of course, nothing bad ever happens in your Fantasy Thailand .

And yet we have a thread entitled:

It's Official Thais have very poor financial management skills

http://www.thaivisa.com/forum/topic/722826-thais-have-very-poor-financial-management-skills/?utm_source=newsletter-20140501-1514&utm_medium=email&utm_campaign=news

... in which all the pompous, self-congratulatory farang smugly dismiss unforeseen circumstances when deriding Thais. I guess when it's farang who are hopeless, that's unforeseen circumstances but for Thais it's a cultural inadequacy.

The Thai Visa Farang Fantasy Factory's BS production line is running 24/7.

Edited May 5, 2014 by Suradit69

[anotheruser]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

Protected from who? Yourself?

Sent from my iPhone using Thaivisa Connect Thailand

[Soutpeel]

condo, i mean can EU country find out you have condo in Thailand and force Thai government to just sell it below the market value?

No they can't, why would as an EU government "force" the Thai government to sell anything....your being paranoid, one suspect the only time something like this could occur is in the case of a big time drug dealer who has used the proceeds to purchase the property and a country could ask another country to freeze their assets in that country

So unless your a big time drug dealer don't worry

[expatsupreme]

no, no drugs here, only hard saved money with online marketing, no scams, nothing fishy

[Soutpeel]

no, no drugs here, only hard saved money with online marketing, no scams, nothing fishy

So one assumes then your question is related to non payment of income tax in the EU country then ? Edited May 5, 2014 by Soutpeel

[uptheos]

condo, i mean can EU country find out you have condo in Thailand and force Thai government to just sell it below the market value?

Don't make yourself out to be more important than you are.

Any EU country has got bigger and better things to do, than to worry if Mr. expatsupreme has bought a condo in Thailand.

[Vacuum]

OP.

Unless you're a citizen of Greece or Spain, you should be ok.

[howerde]

Maybe it depends who the money is owed to and how much, what would happen if the institution owed the money, simply sold the debt to a private firm, but i agree at the moment i would not be worried but who knows what might change in the future.

[Mentors]

It is protected from foreign countries but not shure from any Thai Government because most here are non-immigrant only...

Edited May 5, 2014 by Mentors

[khunPer]

»If you have a debt in Europe for example, and have a condo in Thailand, will European government force Thai government to sell your condo to cover your debt?«

I think it will be like anywhere else: The debtors need to open a civil court case – unless OP thinks about money from crime, which may be ceased or frozen on governmental request.

[susan d]

No, no. EU Gov will not do this.

[larsjohnsson]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

Well protected, sure

[kjhbigv]

Foreigners cannot own property in Thailand (except condos), so what do you want to protect ? It's gone already...

He wants to protect his condo!

Sent from my GT-I9300T using Thaivisa Connect Thailand mobile app

[thailiketoo]

Foreigners cannot own property in Thailand (except condos), so what do you want to protect ? It's gone already...

I have never seen a house stolen. Mostly they leave the house and steal the stuff inside. I believe foreigners can own the stuff inside the house or car or scooter.

[HerbalEd]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

Guess you also protect yourself from any unforeseen circumstances.... by not having any. But, of course, nothing bad ever happens in your Fantasy Thailand .

Or you can "protect yourself from any unforeseen circumstances" by preparing for them and having contingency plans. Clark's Rule says s--t is gonna happen sooner or later ... so you'd best prepare for it.

I'm amazed at how many people I meet who are in their 50s thru 70s ... including a few old friends ... who are always near broke, have no savings or equity, and are on the verge of living on the streets ... and yet they're puzzled as to what went wrong. Oh well ... have another beer and maybe it'll go away.

Edited May 5, 2014 by HerbalEd

[kannot]

My property here is well protected; it is in my wife's name............... You try getting money out of her!!!!!!!!!

I've protected my property in Thailand from debt problems back "home" by not having debt problems back "home." Somewhat radical and innovative for the free thinkers here at the Farang Fantasy Factory, I know, but so far it's worked well.

Guess you also protect yourself from any unforeseen circumstances.... by not having any. But, of course, nothing bad ever happens in your Fantasy Thailand .

Or you can "protect yourself from any unforeseen circumstances" by preparing for them and having contingency plans. Clark's Rule says s--t is gonna happen sooner or later ... so you'd best prepare for it.

I'm amazed at how many people I meet who are in their 50s thru 70s ... including a few old friends ... who are always near broke, have no savings or equity, and are on the verge of living on the streets ... and yet they're puzzled as to what went wrong. Oh well ... have another beer and maybe it'll go away.

thank goodness theThais always plan ahead eh? well at least for the next 10 seconds or so!!

[Berkshire]

no, no drugs here, only hard saved money with online marketing, no scams, nothing fishy

So one assumes then your question is related to non payment of income tax in the EU country then ?

Yes, it would depend on the type of debt. If the OP owed money to the government, say, tax or child support or something along those lines, he could have his passport revoked. As for his condo or other foreign assets, doubtful they would come after that.

[Thaiberius]

condo, i mean can EU country find out you have condo in Thailand and force Thai government to just sell it below the market value?

Unequivocally no.

[expatsupreme]

There is so much talk about bank information exchange between G20 which includes EU and USA

So you are saying that they will never know I have a condo in Thailand?

It is just a question what if, in the future my business crashes in Europe and I owe money for taxes because I cant pay because my company crashed, will they come after my condo in Thailand. I think Thailand will immediately allow countries like US or EU to come and get it..... because it is afraid. Even switzerland gave up, and bowed under the pressure of USA and EU

[expatsupreme]

asking again, if you owe taxes to government, and cant pay, will they take the condo? For now everything is ok, I pay taxes....Will the government seize my condo, has that happened to anybody before?