Jump to content
Login with your Gmail HERE and start posting in seconds! ×
Don't just read! Be part of the Community! Join the conversation ×








...buying land in thailand...

muluc
 Share

Recommended Posts


Sophon Gold Member

Sophon

Posted
Posted

That's one of those typical lawyer non-answers. They say it's not illegal if "you follow the rules", but part of those rules are that nominee share holders are illegal in Thailand. That means that you have to find genuine Thai investors to own the majority of (at least) 51% of the shares, and they have to put in their own funds to buy the land. So you don't end up owning the land, you end up owning a minority part of a Thai company that owns land. If what you want is to buy land so that you can build a house for you to live in, then why would a genuine Thai investor want to put his money in the company owning the land? That's why most of the companies owning land "on behalf of" a foreigner are using nominees, and therefore inherently illegally constructed.

That's the legality of the situation. As to the risks (big or small) of actually getting into trouble for owning land through an illegal company, that's for everyone to decide for themselves.

Sophon

  • Like 2
Link to comment
Share on other sites
Soutpeel Star Member

Soutpeel

Posted
Posted

Go and read what the lawyer wrote, it isn't illegal for a trading/operational company to own land, but what is illegal is setting up a company for the sole purpose of circumnavigating land ownership laws, eg such as a shelf company whose sole reason for its existence is to own land or property on behalf of a foreigner

  • Like 1
Link to comment
Share on other sites
SheungWan Gold Member

SheungWan

Posted
Posted (edited)

Go and read what the lawyer wrote, it isn't illegal for a trading/operational company to own land, but what is illegal is setting up a company for the sole purpose of circumnavigating land ownership laws, eg such as a shelf company whose sole reason for its existence is to own land or property on behalf of a foreigner

That is true and the same principle applies to the owning of houses, businesses and so on. The bottom line is that circumventing the law doesn't get one 100% legal title but is good enough to get by for now with the built-in risk that a government could, if it so wishes, enforce rules which up to now they have held off on from doing on the whole. Many are happy to co-exist with this risk and have done so for years. My objection would be to those who pretend, either in the process of buying or selling, that the risk doesn't exist. On the other hand those who frantically waive red flags might be guilty of overdramatising. So you pays your money and you takes your risk as they say. Putting a risky toe in the water.

Edited by SheungWan
  • Like 1
Link to comment
Share on other sites
jalansanitwong Silver Member

jalansanitwong

Posted
Posted (edited)

Ive never seen a transferable chanote red title deed with John Smith or David Williams on the top of the page, Its illegal.

Never buy land in Thailand because its not yours. You can own a house but NOT the land it sits on. Youre just throwing money away on Thai women and useless business ideas.

Every year western men die of old age (and other reasons) and their Thai wife and family get the house and land. Its legally in their name even though they never contributed one lousy satang towards the property.

Theyre Thais. Theyre legal.

Youre not.

Edited by jalansanitwong
  • Like 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...