"thai Government Created New Way For Foreigners To Purchase Land In Thailand"

[churchill]

Any one heard about this one ?

[thaigene2]

Marry a Thai put the title in her name. Usufruct or lease against the title if you feel safer. Befriend a Thai and put in his name and lease it back from him for 30 years. "buy" a leasehold froma property developer again for 30 years (and don't believe those who say it can be renewed for another 30 - there is no proof of that - yet).

Buy a condo. Rent a house/land - it's cheaper. Leasing for 30 years is the same as renting anyway..except you pay all 30 years up front! So you se you;ve come full circle.

You cannot own land in Thailand if you are a foreigner.

[churchill]

I tried to attach an e-mail from www.samuiestate.com saying they were launching a " perpetual leashold " as a way to get around current laws .

Anyone heard about this or has views ?

[backflip]

"they were launching a " perpetual leashold " as a way to get around current laws"

"They"? Be careful! In the backroom of the sales office, they might also have a perpetual motion machine, a case of Noni juice, and a room-temperature fission reactor.

[johnnyk]

No such thing as perpetual leasehold in Thailand.

Land office recognizes 30 years max.

Everything else is marketing bovine feces dreamed up to separate suckers from their money.

[Mobi]

Marry a Thai put the title in her name. Usufruct or lease against the title if you feel safer. Befriend a Thai and put in his name and lease it back from him for 30 years. "buy" a leasehold froma property developer again for 30 years (and don't believe those who say it can be renewed for another 30 - there is no proof of that - yet).

Buy a condo. Rent a house/land - it's cheaper. Leasing for 30 years is the same as renting anyway..except you pay all 30 years up front! So you se you;ve come full circle.

You cannot own land in Thailand if you are a foreigner.

You've just about covered it.

Of course Thai companies can own land, but those who are buying land with Thai companies and then transferring the shareholding to foreigners are treading on extremely dangerous territory, as informed leagal opion states that this is distintly illegal.

If buying a condo, get an independant lawyer to check out that you, as the foreigner, are one of the 49% that is allowed to buy in that particular building, and is noted as such on the chanod.

Noi such thing as perpetual leases - someone is taking the piss.

[Dragonman]

"they were launching a " perpetual leashold " as a way to get around current laws"

"They"? Be careful! In the backroom of the sales office, they might also have a perpetual motion machine, a case of Noni juice, and a room-temperature fission reactor.

I'm afraid "they" are now living in Singapore, Uk, or some other area, so don't count much.

Actually it was the Ministry of Interior who suggested such some time ago. It was not to the Senate's liking, as only 7 years ago they turned down the Ministry's suggestion for a 50 year lease.

In case people get carried away, perpetual leases can be anything from 30 years to 999 years and do not mean forever. Popular in Australia and Guantanamo Bay.

[trajan]

Actually it was the Ministry of Interior who suggested such some time ago. It was not to the Senate's liking, as only 7 years ago they turned down the Ministry's suggestion for a 50 year lease.

In case people get carried away, perpetual leases can be anything from 30 years to 999 years and do not mean forever. Popular in Australia and Guantanamo Bay.

they do allow registration of 50 year leases in special "commercial purpose" circumstances (for example, the Ascott Sathorn & SkyVillas building on South Sathorn Road has a 50 year registered lease instead of the normal 30 year one)

[thaigene2]

Look folks, we're telling you the God's honest truth here.

Most of the threads you'll see here with the 'flaming' is designed to try to shout us down. I have no reason to tell you otherwise. Spend your money on whatever you want. Why should I care?

But others who are really VOCAL here do care cause they are in the PROPERTY BIZ

If you can't OWN THE FREEHOLD IN YOUR NAME why would you dare?? Use your brain..It's that simple.

There is no need to get so upset.

If people want to throw their money away that is their problem.

Astral

Moderator

[Dragonman]

Actually it was the Ministry of Interior who suggested such some time ago. It was not to the Senate's liking, as only 7 years ago they turned down the Ministry's suggestion for a 50 year lease.

In case people get carried away, perpetual leases can be anything from 30 years to 999 years and do not mean forever. Popular in Australia and Guantanamo Bay.

they do allow registration of 50 year leases in special "commercial purpose" circumstances (for example, the Ascott Sathorn & SkyVillas building on South Sathorn Road has a 50 year registered lease instead of the normal 30 year one)

I have not seen a copy of the lease you mention. However the Leasehold Amendment Act is specific with regard to the property must be used for Commerce or Industry. Registering a lease does not of course make it legal.

[churchill]

Latest e-mail received regarding this ! Is this something new ?

To my valued friends and clients,

There appears to be some confusion regarding my last e-mail. To clarify, the point of the e-mail was purely a POSITIVE one. I have GREAT NEWS about the new PERPETUAL LEASEHOLD property structure in Thailand! The Thai Government has now created a new way for foreigners to purchase land in Thailand. This makes it EASIER to purchase land in Thailand because foreigners can now have their name on the deed of the property. This means that new buyers will not have to deal with the complications of nominees and shell corporations, and that existing owners may transfer their existing assets from a nominee structure to a perpetual leasehold with their OWN NAME on the deed. Finally you can have YOUR OWN NAME on your property deed. This is a major POSITIVE development in the Thai real estate market and we are all very excited about it. We are sure that this new law will increase investor confidence and make the property market in Thailand even hotter, creating better returns for all of our investors. Wonderful!!

For further details, please contact me directly. I would be most happy to assist you in transferring your Thai property into YOUR OWN good name through a VIP Perpetual Leasehold.

Warmest regards,

Heng, Managing Director SEC

Samui Estate Corporation

Tel +66 (0) 77 414 222 or 414 333

Fax +66 (0) 77 414 321

Mobile + 66 (08) 3 908 0333

Address 5/5 Moo6, Bo Phut, Koh Samui, Suratthani Thailand

Website www.samuiestate.com

Email: [email protected]

[Mobi]

Lying b..std

Must be pretty desperate to indulge in such outrageous misinformation

[Khun Jean]

He was just refering to a usefruct and naming it a perpetual lease hold.

Sometimes you need to use creative names for simple things.

Lying is second nature for most of them.

This is Thailand, that means you have to research everything yourself.

Read it, study it, ask questions here and ignore everything that is said by people who have a direct benefit from it.

Actually isn't that true everywhere?

Still, smart people are always outnumbered anyway. The feeling is that if someone not buys then another bunch will arrive very soon.

[LaoPo]

Today I received 2 messages (with the same content) from a Real Estate developer as follows; I have removed the name+address.

If anybody wishes to know more about this developer, please PM me.

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

To my valued friends and clients,

There appears to be some confusion regarding my last e-mail. To clarify, the point of the e-mail was purely a POSITIVE one. I have GREAT NEWS about the new PERPETUAL LEASEHOLD property structure in Thailand! The Thai Government has now created a new way for foreigners to purchase land in Thailand. This makes it EASIER to purchase land in Thailand because foreigners can now have their name on the deed of the property. This means that new buyers will not have to deal with the complications of nominees and shell corporations, and that existing owners may transfer their existing assets from a nominee structure to a perpetual leasehold with their OWN NAME on the deed. Finally you can have YOUR OWN NAME on your property deed. This is a major POSITIVE development in the Thai real estate market and we are all very excited about it. We are sure that this new law will increase investor confidence and make the property market in Thailand even hotter, creating better returns for all of our investors. Wonderful!!

For further details, please contact me directly. I would be most happy to assist you in transferring your Thai property into YOUR OWN good name through a VIP Perpetual Leasehold.

Warmest regards,

(name removed), Managing Director (name removed)

"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

Does anybody know more about this???:

"The Thai Government has now created a new way for foreigners to purchase land in Thailand"

LaoPo

Edited September 26, 2006 by LaoPo

[Tywais]

Don't think it is anything new about that. The 30 year (renewable) leasehold has been around a long time. Sounds like just your typical marketing ploy.

http://www.phuket-villas.com/questions_&_answers.htm

Just noticed there is a thread on a similar topic:

http://www.thaivisa.com/forum/index.php?sh...c=85094&hl=

Edited September 26, 2006 by tywais

[LaoPo]

Just noticed there is a thread on a similar topic:

http://www.thaivisa.com/forum/index.php?sh...c=85094&hl=

Thanks; I didn't know there was already a topic about this.

Sorry!

LaoPo

[amortm]

I am obviously in the same mailing list, having received the same "rectification" email following a newsletter from the same source. The newsletter basically stated that the government will close down all companies with nominee shareholding and seize all assets. This seem to be intended to send a shiver through the pack and all dogs with their tail between their legs are invited to join that "wonderful" solution of a perpetual leasehold. Rubbish!

I have attended an official meeting some time back where this particular solution to the foreign ownership of land was introduced as a draft.

First of all, the government has no interest in disrupting foreign investment, and closing illegal companys is the least of their interest rather then pay some fine and clean up the company structure. To explain that solution in one sentence: To overcome the legal issues of foreign ownership, the government proposed to offer a government controlled 100% thai company to hold real estate assets on behalf of foreigners. Sounds phantastic, but let my try another explaination in one sentence: You give your money to the thais, they buy land for you in their name and lease it to you for 30 years with the promise for another 30 years...maybe. In the end, a leasehold as usual.

Till date, none of my lawyers can produce a legal document to confirm that or present any details.

[buddhafly]

this is either a re-packaging marketing effort of the 30x30 lease or it is a scam.

beware.

[LoveDaBlues]

[thaigene2]

Very true.

Is that from Heng the regular poster here? Or is it someone else? Anyway, agree with Khun Jean. This also sounds quite similar to the salespitch of Hamptons International. As far as I could see (and I could be wrong - sure they'll intervene if so), but in their case it seemed to be a promise of locally-acquired Thai Baht mortgages, but the in fact behind the hype it was a 'lease-to-purchase'. Not sure who's name was on the title as 'owner'..and that's what counts. Not who has rights to use the property.

A 'real' mortgage in Thailand would have your name registered both on the deed and at te Registry but the bank hangs on to the deed til it's paid out - like a lien in Western countries I guess.

[chownah]

I'll bet its a usufruct....it says you will have your name on the title deed which is true with a usufruct, I think, only your name won't be as the owner but only as the person benefitting from a usufruct agreement........this is my guess.

Chownah

[Thaibel]

Probably just a marketing stunt.....

Thaibel Asia

[Thaibel]

Marketing stunts

Thaibel Asia

[astral]

Real Estate Agents and Car Salesmen are never to be taken literally.

[johnnyk]

Hey real estate boys, if the gov't has indeed created this "new way" just show us the documents that say it is so.

[Thaibel]

Hey real estate boys, if the gov't has indeed created this "new way" just show us the documents that say it is so.

Hey Johnny,

It's not true, the gov't did not create such contract.

It's just a marketing stunt from some real estate agent in Los.

Kind regards,

Thaibel Asia

[Dragonman]

I'll bet its a usufruct....it says you will have your name on the title deed which is true with a usufruct, I think, only your name won't be as the owner but only as the person benefitting from a usufruct agreement........this is my guess.

Chownah

My money is with you. Perpetual usufructs are also called perpetual leases in a number of countries including Poland and Cyprus, normally where there are no laws in the Civil Code differentiating! The difference is that normally perpetual usufructs/leases are on State controlled land.

I suppose the law is new in geological terms, only 2100 years.

[sinam]

I wonder if this had anything to do with an arcticle I read the other day about Sven Erickson buying a place in Samui. It said something about a lease but with the option of freehold. I really couldn't understand what it was all really about. I bet he paid through the nose but I guess he is loaded with all that easy money the FA gave him for underperforming :-)

Si Nam

[amortm]

Hey real estate boys, if the gov't has indeed created this "new way" just show us the documents that say it is so.

Hey Johnny,

It's not true, the gov't did not create such contract.

It's just a marketing stunt from some real estate agent in Los.

Kind regards,

Thaibel Asia

Here it is: http://www.thailongstay.co.th

As i said earlier, it is a company incooperated by the goverment (TAT...) that buys the land for you and leases it to you by guaranteeing 30 years renewal. A;ong comes a year visa, not sure what kind and if you can apply for work permits. You can also lease only one property, which is also not clear what that means exactly. This scheme is tailored to "vacationers" who want a little beach house to retire in.

Basically it is a good approach in the right direction, but it has to be backed up legally, an in all aspects. How secure is your investment? How is the company structured that hold your title? Who are the share holders? Governments change over time, companies close down. And by law a lease can be still only 30 years. Koh Samui in not an exception.

[johnnyk]

Hey real estate boys, if the gov't has indeed created this "new way" just show us the documents that say it is so.

Hey Johnny,

It's not true, the gov't did not create such contract.

It's just a marketing stunt from some real estate agent in Los.

Kind regards,

Thaibel Asia

I know.

The marketing people are trying to make people believe the gov't has created the "new way".