Mudcrab Posted June 5, 2015 Share Posted June 5, 2015 Sure it is just look how Thai government is treating foreigner citizens : Land lease max a poorly 30 years.(why we cant own a one rai plot in our name?) Business for foreigners we can only own 49% of our business in Thailand while we invest 100%.(Thai shareholders control ur business) If we marry a Thai in Thailand then we remain an alien here.. If we marry a thai in Europe she becomes a European. That how they serve u here ! Its THEM and us. Them's the rules...deal with it. And I bet if most western countries had the chance to impose the same restrictions they would do with great enthusiasm seeing how well their experiment turned out. Link to comment Share on other sites More sharing options...
impulse Posted June 5, 2015 Share Posted June 5, 2015 Discrimination in the price of condos makes perfect business sense. Thais can buy any condo, anywhere. Foreigners are limited to buying condos in the 49% (maximum) allocated for foreign ownership. That makes those 49% condos more valuable, and it's reasonable to expect them to sell at a higher price. Not much different than condos facing the waterfront selling for more. And to wowfactor10, if anyone gives away 51% of their business for no investment (in cash, services or real estate) from the Thai side, that's poor negotiating skills, not Thai laws causing the problem. Link to comment Share on other sites More sharing options...
Mudcrab Posted June 5, 2015 Share Posted June 5, 2015 Sure it is just look how Thai government is treating foreigner citizens : Land lease max a poorly 30 years.(why we cant own a one rai plot in our name?) Business for foreigners we can only own 49% of our business in Thailand while we invest 100%.(Thai shareholders control ur business) If we marry a Thai in Thailand then we remain an alien here.. If we marry a thai in Europe she becomes a European. That how they serve u here ! Its THEM and us. Do you own a 1 rai block of land in the old country? Why pay 100% of the capital in a business when you are only required to pay 49%...have you ever owned a business..anywhere? What passport is a European passport? Maybe its more US and them? I sincerely hope you are not one of the majority of whining Europeans complaining how foreigners come to MY country etc etc etc. At least the Asians (and it isn't restricted to Thailand by any measure) who want to control their future...they have looked and learned from the disasters in the West. Be thankful you are welcome here under such onerous conditions. Link to comment Share on other sites More sharing options...
maidee Posted June 5, 2015 Share Posted June 5, 2015 sadly european bank are paying about 0.2% right now and taxed 15 to 22% on that Link to comment Share on other sites More sharing options...
Robert24 Posted June 5, 2015 Share Posted June 5, 2015 no racism here. Just 2 private companies having tiered pricing... Just move on and go somewhere else. I bank with Kbank and BBL and both have the same conditions for Thais and foreigners. I recommend you don't spend time and energy on things you cannot change. Just move on. On a positive note, compared to other Asian countries I stayed before, Thailand is quite open minded when it comes to foreigners. Link to comment Share on other sites More sharing options...
ggt Posted June 5, 2015 Share Posted June 5, 2015 It was refreshing to see that so many people are on the same page when it comes to money, Thais, and discrimination... No talk of Yankee go Home...old fart go home... Where are you Thai apologists when we need you? Link to comment Share on other sites More sharing options...
Asheron Posted June 5, 2015 Share Posted June 5, 2015 Sure it is just look how Thai government is treating foreigner citizens : Land lease max a poorly 30 years.(why we cant own a one rai plot in our name?) Business for foreigners we can only own 49% of our business in Thailand while we invest 100%.(Thai shareholders control ur business) If we marry a Thai in Thailand then we remain an alien here.. If we marry a thai in Europe she becomes a European. That how they serve u here ! Its THEM and us. Do you own a 1 rai block of land in the old country? Why pay 100% of the capital in a business when you are only required to pay 49%...have you ever owned a business..anywhere? What passport is a European passport? Maybe its more US and them? I sincerely hope you are not one of the majority of whining Europeans complaining how foreigners come to MY country etc etc etc. At least the Asians (and it isn't restricted to Thailand by any measure) who want to control their future...they have looked and learned from the disasters in the West. Be thankful you are welcome here under such onerous conditions. Anyone holding a passport from any EU member state are european passport holders. In my swedish passport it even first says "Europeiska Unionen" and then "Sverige". Not that i agree with that but that's not the point. Link to comment Share on other sites More sharing options...
DD13 Posted June 5, 2015 Author Share Posted June 5, 2015 So what about this Last year I deposited cash into a fixed term savings account, and was told at the time, "if you wish to remove this before the fixed period is finished, the interest will revert to the standard rate" As it happened, I did decide to remove the money after 6 months to fund another purchase I went to the bank they told me that I could not remove it, I reminded them of their promise at the outset, which made them....reluctantly agree.......they then said you will have to return the paid in advance interest...."where is it" I asked.....in your other account....we updated my book, and sure enough it was there......OK remove it I said..... I then had the task of persuading them to pay interest on the money they had been holding at the standard rate........which reluctantly they did When I looked at the amount the figures didn't tally......ah they said the interest is less the tax paid on the old account.... I said tax is paid on profit.....I gave you all the interest back.....so no profit was made This is the best bit..... we have already paid that to the tax man.....you go and get it.......so now I have to go to the tax man and try to get them to hand over 8,000 Baht"........ Ah the land of smiles Link to comment Share on other sites More sharing options...
Shaunduhpostman Posted June 5, 2015 Share Posted June 5, 2015 Simply refuse to do business with racists, they are the ones that lose. It's as simple as that. People who don't treat you that way will get your business, Non-Racists 1, Racists 0. Link to comment Share on other sites More sharing options...
UTH001 Posted June 5, 2015 Share Posted June 5, 2015 How many times do we have to tell you to keep the money offshore. The system is rigged against you here in every way. Like in a casino the longer you play you will see the odds in house favor over time. Some people just dont get it or are too stubborn to learn from the mistakes of others! Some of us do have to keep at least THB 800,000 in an account here for Immigration reasons, unfortunately. But after having had the pleasure of dealing with some Thai banks to try and get a better rate (i.e.move the funds from BBL to another bank, on a retirement visa), I swore to myself to only keep the absolute minimum in my account from now on, dont want to deal with the hassles of having to suck up to a bank manager and convincing him to accept a substantial cash deposit... Link to comment Share on other sites More sharing options...
fosseway Posted June 5, 2015 Share Posted June 5, 2015 A few things I would wish to draw to the attention of the previous posters, the 49% foreign quota is always more expensive either to buy off plan or to resale, if a foreigner was to somehow buy in the "Very Grey Area" of the 51% Thai ownership. it would be near impossible to resell it. Re the 800K retirement account, I believe I am correct in saying that this has only to sit in a instant access account for 90 days prior to renewing the visa, or 60 days if applying for the first time. As for the interest comment, I have funds sat in a Lloyds UK current account that returns less than 1% net. Link to comment Share on other sites More sharing options...
wowfactor10 Posted June 5, 2015 Share Posted June 5, 2015 Sure it is just look how Thai government is treating foreigner citizens : Land lease max a poorly 30 years.(why we cant own a one rai plot in our name?) Business for foreigners we can only own 49% of our business in Thailand while we invest 100%.(Thai shareholders control ur business) If we marry a Thai in Thailand then we remain an alien here.. If we marry a thai in Europe she becomes a European. That how they serve u here ! Its THEM and us. Them's the rules...deal with it. And I bet if most western countries had the chance to impose the same restrictions they would do with great enthusiasm seeing how well their experiment turned out. I just reply to the tread...Why u have to defend unfair crooked designed rules for foreign citizens in Thailand? Why u need attack me about my opinion instead u reply to the OP... Anyways their unfair laws have stopped foreigners to invest,that is the outcome. If they care about foreign investors they might normalize some of their laws.. Link to comment Share on other sites More sharing options...
RigPig Posted June 5, 2015 Share Posted June 5, 2015 Who the <deleted> would want to invest funds at 2 or (God forbid) 2,4 percent anyway - forget the alleged racism, think about the rational of the investment. You couldn't convince me to fart in bed for a 2 or 2.4% return. As to buying a condo, get your Missus to buy it at the Thai price of 1.88M. Sorted having wife buy it would be counter intuitive as it would then not fall into the 49% foreign quota. thus narrowing the market for a resale Thats a good point. If they are married it will be split 50/50 on a break up anyway so what´s the problem who´s name it is in. If purchased after the marriage it is an even split, joint property... Could she not buy it with the (supposed) intention of resale as an ¨excuse to get one of the 49%? But then maybe that is the real reason for the price difference, the units are potentially worth more because of the chance of a foreign resale? Link to comment Share on other sites More sharing options...
fey Posted June 5, 2015 Share Posted June 5, 2015 How many times do we have to tell you to keep the money offshore. The system is rigged against you here in every way. Like in a casino the longer you play you will see the odds in house favor over time. Some people just dont get it or are too stubborn to learn from the mistakes of others! Some of us do have to keep at least THB 800,000 in an account here for Immigration reasons, unfortunately. But after having had the pleasure of dealing with some Thai banks to try and get a better rate (i.e.move the funds from BBL to another bank, on a retirement visa), I swore to myself to only keep the absolute minimum in my account from now on, dont want to deal with the hassles of having to suck up to a bank manager and convincing him to accept a substantial cash deposit... A mistake in my opinion. That money can be seized should a thai press a lawsuit against you, you hit someone in traffic or you are asked for a bribe for a real or imagined offense. No rights here or court safeguards like in many developed countries. Risky business! Link to comment Share on other sites More sharing options...
mikiea Posted June 5, 2015 Share Posted June 5, 2015 ahhhh .... the return of happiness to Thailand .... gotta love it . Link to comment Share on other sites More sharing options...
duanebigsby Posted June 5, 2015 Share Posted June 5, 2015 Sure it is just look how Thai government is treating foreigner citizens : Land lease max a poorly 30 years.(why we cant own a one rai plot in our name?) Business for foreigners we can only own 49% of our business in Thailand while we invest 100%.(Thai shareholders control ur business) If we marry a Thai in Thailand then we remain an alien here.. If we marry a thai in Europe she becomes a European. That how they serve u here ! Its THEM and us. Them's the rules...deal with it. And I bet if most western countries had the chance to impose the same restrictions they would do with great enthusiasm seeing how well their experiment turned out. I just reply to the tread...Why u have to defend unfair crooked designed rules for foreign citizens in Thailand? Why u need attack me about my opinion instead u reply to the OP... Anyways their unfair laws have stopped foreigners to invest,that is the outcome. If they care about foreign investors they might normalize some of their laws.. They're ok with foreign investment, just not foreign ownership. Half of Canada is US and Chinese owned and many poorer countries are basically owned by others. It's protectionism not racism. Link to comment Share on other sites More sharing options...
wowfactor10 Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Link to comment Share on other sites More sharing options...
duanebigsby Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Did he not know the rules and the risks? And the corruption? You are not talking about us and them discrimination, you are talking about a scam. I for one do not believe every Thai is out to rip me off, but I'm careful. Link to comment Share on other sites More sharing options...
JLCrab Posted June 5, 2015 Share Posted June 5, 2015 One reason the Thais may charge extra or give lower interest rates for farang is that dealing with so many farang is such a total pain in the a-s. Link to comment Share on other sites More sharing options...
vento Posted June 5, 2015 Share Posted June 5, 2015 I just parked my Car at a Big airport, everyone was beeing Security checked, except me. I passes with no check To be honest. If there is a us and Them. In happy to be part of the "us" team Link to comment Share on other sites More sharing options...
ptcarter Posted June 5, 2015 Share Posted June 5, 2015 Capitol One in the US is currently offering 1.24% on their savings accounts, for 10K minimum. I have found with Capitol One that they never advertise these good rates, you have to go to customer service - in person or online - and inquire. Secondly, I have my US military retirement coming here direct deposit because it is a good conversion rate (compared to the rest) but each month I pulled almost all the baht out and put it under the mattress.....I don't want any of my capital tied up in any foreign country. Link to comment Share on other sites More sharing options...
wowfactor10 Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Did he not know the rules and the risks? And the corruption? You are not talking about us and them discrimination, you are talking about a scam. I for one do not believe every Thai is out to rip me off, but I'm careful. Yes its their scam for us....Them and us.... Their laws actually help them with their scams...if some laws would get fixed we would get proper protection . Link to comment Share on other sites More sharing options...
DD13 Posted June 5, 2015 Author Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Phew".... Poor guy........maybe I shouldn't complain about my pittence Link to comment Share on other sites More sharing options...
wowfactor10 Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Phew".... Poor guy........maybe I shouldn't complain about my pittence You can say he is a poor guy,but actually it is poor ,unfair Thai laws for us that started his misery.. Make it mandatory that for a transaction at the land office that all parties need to show up in person. With this simple law you can prevent all these foreigners loosing properties due to fake signatures etc . Own land max one rai in ur name would prevent another 1000 scams for us.. Seems to me Thailand not mind these scams to much.. Link to comment Share on other sites More sharing options...
JLCrab Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Did he not know the rules and the risks? And the corruption? You are not talking about us and them discrimination, you are talking about a scam. I for one do not believe every Thai is out to rip me off, but I'm careful. Yes its their scam for us....Them and us.... Their laws actually help them with their scams...if some laws would get fixed we would get proper protection . What -- only some? Link to comment Share on other sites More sharing options...
CrummyJuggler Posted June 5, 2015 Share Posted June 5, 2015 How many times do we have to tell you to keep the money offshore. The system is rigged against you here in every way. Like in a casino the longer you play you will see the odds in house favor over time. Some people just dont get it or are too stubborn to learn from the mistakes of others! Odds in a casino don't change the longer you play. Whether blackjack, craps, roulette, or the lottery, the odds are against you from the very beginning. You can beat the odds in the short-term, but rare to impossible in the long term. Every game in a casino has odds that favor the house, obviously. Link to comment Share on other sites More sharing options...
duanebigsby Posted June 5, 2015 Share Posted June 5, 2015 How about you ask this question regarding THEM and US to the Irish Gentleman who has lost his Thai estate worth of 65 Million BHT. The Thai Wife,The Thai Court ,The Thai Loan Shark, The Thal Lawyer,The Thai land office ,The Thai police,and The Irish Genteman. Did he not know the rules and the risks? And the corruption? You are not talking about us and them discrimination, you are talking about a scam. I for one do not believe every Thai is out to rip me off, but I'm careful. Yes its their scam for us....Them and us.... Their laws actually help them with their scams...if some laws would get fixed we would get proper protection . We're different countries, different cultures, different laws, we are different peoples.....if you accept to move here, you can abide by the laws and system (or lack thereof), learn something about Thai culture, art, and people, opening up a bit to what Thailand is or just view it as a giant sh1th0l3 and complain incessantly about it Link to comment Share on other sites More sharing options...
wowfactor10 Posted June 5, 2015 Share Posted June 5, 2015 I just parked my Car at a Big airport, everyone was beeing Security checked, except me. I passes with no check To be honest. If there is a us and Them. In happy to be part of the "us" team Sometimes people with a bad body odor do not get checked much...Lucky u ! Link to comment Share on other sites More sharing options...
chilli42 Posted June 5, 2015 Share Posted June 5, 2015 There are many us and them paradigms in Thailand. The Thai vs Farang thing is annoying, sometimes expensive but not toxic. There is the Thai vs African, Thai vs Burmese, HiSo vs everybody, rich vs poor ... etc. All of these are much toxic and impossible for the victim to avoid. At least you can get on an airplane and go back home to deal with your familiar garden variety profiling. Link to comment Share on other sites More sharing options...
RigPig Posted June 5, 2015 Share Posted June 5, 2015 How many times do we have to tell you to keep the money offshore. The system is rigged against you here in every way. Like in a casino the longer you play you will see the odds in house favor over time. Some people just dont get it or are too stubborn to learn from the mistakes of others! You can tell me as many times as you like. I will continue to live my own life free of the nervous nellies, with my Thai wife in Thailand and elsewhere as I see fit.. I lost a damn site more in the west than I ever will in Thailand. My money and I will do what I damn well like with it. Did you ever see a tow bar on the back of a hearse? Stop counting the dollars and start smelling the roses. I am curious if you will still be saying that down the line if your deal goes South...... Nothing wrong with insurance! Link to comment Share on other sites More sharing options...
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