June 23, 200619 yr Hiya, thanks for taking interest in my topic. Advice is required on structuring a company legally in Thailand for the development of real estate. Though it is understood that the law requires a 49/51% ownership structure to own and development real estate, what are the legal ways around the "grey areas"? Recently I heard the preference/ordinary share structure may not be water tight as well. If nominees are not legal and pref/ord shares structure is also threading on thin ice, what other option is there to maintain control/management of the new setup? How did those foreign companies do it? -A foreign company-
June 23, 200619 yr The following ad is in the latest issue of the Pattaya Mail. Perhaps said company can offer the advice your require? Psb450/25/ Attention: The Thai Ministry of Interior gave strict orders to all local land offices in Thailand, not to register any properties in the name of a Thai Company (Co. Ltd.) with a foreign Managing Director, or even a foreign shareholder. Therefore foreigners cannot use this (il)-legal possibility for purchasing houses anymore. Ask us for a legal solution. Please do not take the risk of an enforced sale, or even expropriation of your property www.pattaya-lawyer.com
June 23, 200619 yr The following ad is in the latest issue of the Pattaya Mail. Perhaps said company can offer the advice your require? Psb450/25/ Attention: The Thai Ministry of Interior gave strict orders to all local land offices in Thailand, not to register any properties in the name of a Thai Company (Co. Ltd.) with a foreign Managing Director, or even a foreign shareholder. Therefore foreigners cannot use this (il)-legal possibility for purchasing houses anymore. Ask us for a legal solution. Please do not take the risk of an enforced sale, or even expropriation of your property www.pattaya-lawyer.com What is the legal solution? I, don't really believe Companies who even convince themselves they are " Notary Public", as in their web site.
June 26, 200619 yr Author Thanks guys! This is very frustrating though. Having said that I suppose the safest route at the moment is still via pref/ord share structure. Should there be a new ruling to curb that, at least 90% foreign companies in Thailand are in the same boat, thus the government will need to think about that twice eh.
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