UK 'best for offshore investment'

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UK 'best for offshore investment'
SUCHEERA PINIJPARAKARN
THE NATION


Khunying Sasima Srivikorn, right, shares her views on offshore property investment at an exclusive forum held recently by Tisco Wealth and Forbes Thailand, in association with Knight Frank Thailand.

BANGKOK: -- THAI property tycoon Khunying Sasima Srivikorn, who co-owns an English Championship football club, recommends the United Kingdom as the best location for offshore property investment after realising a double-digit yield from a recent investment in the country.

Speaking at an exclusive forum recently held by Tisco Wealth and Forbes Thailand, in association with Knight Frank Thailand, Sasima - co-chairperson of Reading FC - said the football-club venture was a high-risk investment, but one that also offered a high potential return.

She also said it was the toughest role she had taken on since entering real-estate business, because negotiations over players' transfers were more difficult than buying and selling property projects.

Despite the risks involved, she and her consortium decided to buy the English Championship club because, if it were able to get back into the top tier - the Barclays Premier League - the club would receive substantial income from the English Football Association, as well as from merchandising.

The club would have annual income of 180 million pounds (Bt9.82 billion), against the current 60 million pounds in the second tier, if it could gain promotion, she said.

She told the forum that the most valuable aspect of the investment was sports marketing, which had become a powerful tool for many product-makers in attracting consumer spending.

Thai energy-drink company Carabao Group inked a major shirt-sponsorship deal with Reading FC with a view to raising awareness of the company's products among soccer fans in European markets, executives of the group told the media when the deal was signed in July.

Her own group also acquired a hotel in Reading, which currently provides a double-digit yield, compared with 6-7 per cent previously, she said.

Sasima said her investment company, Srivikorn Group, was currently awaiting permission from Reading council for investment in other real-estate projects in the town, consisting of a convention centre, hotels and serviced apartments.

Located just 66 kilometres west of London, and with improved links to the capital via the upcoming cross-rail route, Reading is an attractive real-estate investment location for Srivikorn Group.

Moreover, land prices in Reading are five to six times lower than those in London, she said.

Property in London averages 2,000 to 3,000 pounds per square foot, but in Reading the price goes down to 400 to 500 pounds per square foot, she said.

Reading is seen by Sasima and her group as offering excellent investment returns, with property prices expected to rise in the near future because of the cross-rail project, besides which the double-digit yields currently available cannot be found in London, she explained.

Reading also has good universities and schools, especially business schools, which attract many foreign students, who form another segment that the company can tap into.

She told the forum that for anyone planning offshore property investment, the UK was in her view the best location because it was a safe country with clear regulations.

This compares starkly with Thailand, where Sasima said investment was very difficult because of the Kingdom's unclear regulations, fierce competition in the property sector and political uncertainty.

"The UK is the best place for our investment and, apart from buying Reading FC, we have bought a furniture factory [in Colchester], which generates high growth for us," she said.

While taking money out of Thailand to invest offshore is no longer difficult, because the central bank has relaxed conditions to facilitate overseas investment, Thais wishing to undertake such investment should have the right lawyers to assist with the local tax structure and related issues, she advised those attending the forum.

Source: http://www.nationmultimedia.com/business/UK-best-for-offshore-investment-30270669.html


-- The Nation 2015-10-12

[MaiChai]

This is why ordinary British folks can't afford to buy any properties in and around London?

Uk the country with no regulations, hence why a lot of property in and around London is bought by foreigners laundering money got through I'll gains. My personal view is that you should be a uk resident to buy property in the uk. That would stop places like London becoming the playground for the international rich.

[robertthebruce]

Reading ??? not the nicest of places.....

[stoneyboy]

Yep come to Thailand get married have children,pay for medical and school expenses and the right to abode,own no land,property or businesses outright or without jumping through hoops.

In stark contrast you can go to the UK and do anything you so wish.

Buy property,football clubs,invest in business,nip to the hospital,claim social security,asylum or any other of the numerous schemes on offer.

It does make you wonder why so many people myself included choose to leave the relative safety of the U.K. from a financial and family perspective,when everything is so much easier there.

Still we are put on this earth to be tested.

Edited October 11, 2015 by stoneyboy

[NongKhaiKid]

Yep come to Thailand get married have children,pay for medical and school expenses and the right to abode,own no land,property or businesses outright or without jumping through hoops.

In stark contrast you can go to the UK and do anything you so wish.

Buy property,football clubs,invest in business,nip to the hospital,claim social security,asylum or any other of the numerous schemes on offer.

It does make you wonder why so many people myself included choose to leave the relative safety of the U.K. from a financial and family perspective,when everything is so much easier there.

Still we are put on this earth to be tested.

Excellent Post.

Compare this thread to the one on the investigation into Thai nominees acting for these unwanted foreigners.

The idea of loaded dice doesn't even come into it.

[Lunchbob]

No way. Crazy talk.

[chiang mai]

What's crazy talk, the OP and if so, why?

[Prbkk]

An article or advertising?

[NongKhaiKid]

An article or advertising?

The lady reminds me of my first ever landlady in Bkk, hiso with a royal title.

Talking one day she just had to tell me how well she knew London, how she had a bank account there and was looking to buy property.

When I mentioned the inequality about that sort of thing here I thought she was going to have a seizure. It was made painfully obvious to me that no foreigner should ever be allowed to own anything in Los.

My first introduction to Thainess.

Edited October 12, 2015 by NongKhaiKid

[Seastallion]

I thought the Farang Boyfriend Act, 1987, already covered lucrative investments in overseas "assets"

This may become a favourite law to quote, all credit to member NCC1701A.

Edited October 12, 2015 by Seastallion

[Jeddah Jo]

An article or advertising?

The lady reminds me of my first ever landlady in Bkk, hiso with a royal title.

Talking one day she just had to tell me how well she knew London, how she had a bank account there and was looking to buy property.

When I mentioned the inequality about that sort of thing here I thought she was going to have a seizure. It was made painful obvious to me that no foreigner should ever be allowed to own anything in Los.

My first introduction to Thainess.

I find this win at everything and win at all costs attitude prevalent throughout Thailand. This can be anything from business to personal interactions, even to scooters always having to get to the front of a traffic junction. They are the most competitive people I have ever met and I am beginning to find it really tedious, especially when they are happy to give foreigners the finger in Thailand but see no hypocrisy in taking advantage of other countries that do not discriminate on race. Edited October 12, 2015 by Jeddah Jo

[Oryx816]

An article or advertising?

The lady reminds me of my first ever landlady in Bkk, hiso with a royal title.

Talking one day she just had to tell me how well she knew London, how she had a bank account there and was looking to buy property.

When I mentioned the inequality about that sort of thing here I thought she was going to have a seizure. It was made painful obvious to me that no foreigner should ever be allowed to own anything in Los.

My first introduction to Thainess.

I find this win at everything and win at all costs attitude prevalent throughout Thailand. This can be anything from business to personal interactions, even to scooters always having to get to the front of a traffic junction. They are the most competitive people I have ever met and I am beginning to find it really tedious, especially when they are happy to give foreigners the finger in Thailand but see no hypocrisy in taking advantage of other countries that do not discriminate on race.

I don't find them competitive at all. Being competitive requires effort and hard work. I find Thais like the easy route, and shortcuts to get ahead, thus the motorbikes piling up in the front of cars at traffic lights. Rampant corruption and a cheating culture are indicators of this mentality.

If they were competitive, they would feel embarrassment at their woeful English performance compared to the other members of Asean. If they were competitive, they wouldn't mind foreigners coming here and competing for business. Sorry, I think they like the easy win.

Edited October 12, 2015 by Oryx816

[Jeddah Jo]

I find this win at everything and win at all costs attitude prevalent throughout Thailand. This can be anything from business to personal interactions, even to scooters always having to get to the front of a traffic junction. They are the most competitive people I have ever met and I am beginning to find it really tedious, especially when they are happy to give foreigners the finger in Thailand but see no hypocrisy in taking advantage of other countries that do not discriminate on race.

I don't find them competitive at all. Being competitive requires effort and hard work. I find Thais like the easy route, and shortcuts to get ahead, thus the motorbikes piling up in the front of cars at traffic lights. Rampant corruption and a cheating culture are indicators of this mentality.

If they were competitive, they would feel embarrassment at their woeful English performance compared to the other members of Asean. If they were competitive, they wouldn't mind foreigners coming here and competing for business. Sorry, I think they like the easy win.

The point is if you find yourself coming off second best in any transaction or interaction then you are being competed with and you are losing.

Whether they achieve this through guile or cheating doesn't stop you from having lost, ergo they are competitive.

I agree with you they like the easy win but they are happy to fight hard to gain advantage in any and all situations especially when dealing with foreigners.

Edited October 12, 2015 by Jeddah Jo

[manchesterlalala]

And look what's in the Guardian today: a new report states foreign money investing in property in London is pricing valuable workers out of the capital, costing the country billions in knock-on effects.

Also on the TV news feed today: crackdowns on Thai nominees here in the Kingdom.

The legislation that allows this kind of foreign ownership of land / property / businesses, etc. in the UK should be designed by way of reciprocation, as it commonly is with visa regulations: i.e. "you give us decent visa options, we will do the same".

Us in the UK having an open door just feels like getting shafted in the back door.

There was a Thai family who ran a restaurant at the top end of my road in Manchester. Nice big property. They owned the building and land outright; sent their little girl to the good local school for free, of course. Obviously had access to the NHS and all the rest of it. Nice people. But I have to confess, it did make me feel a little sick in the stomach to know that what they were able to do in my country, I would never be allowed to do in theirs.

Not their fault: ours.

It's time the laws were changed.

[Scouse123]

UK needs to adopt a policy where everything is in context and reciprocal to any and all other countries we are doing business with; be it visas, tax, land and property rights etc.

They should bring in an Act of Parliament that mirrors the requests and requirements of each countries laws.

Example, Thailand. You want to buy property in the UK, then UK nationals can buy property there and so on and so on.

The same would apply on all restrictions imposed on us by foreign governments in regards to employment, visa status, access to health and education etc

The "mirror law " would look at the request made by the national of whichever country and implement reciprocally whatever laws and restrictions their government placed on foreigners in their homeland. This would apply to any transactions they make in the UK.

It would not be so difficult to implement I believe, with the obvious exceptions such as refugees and humanitarian issues.

Let's face it, the vast majority taking advantage of the UK lax laws are well heeled, it isn't Isaarn farmers buying property in London.

Edited October 12, 2015 by Scouse123

[Soutpeel]

Anyone want to buy a steel mill ?

[Orac]

UK needs to adopt a policy where everything is in context and reciprocal to any and all other countries we are doing business with; be it visas, tax, land and property rights etc.

They should bring in an Act of Parliament that mirrors the requests and requirements of each countries laws.

Example, Thailand. You want to buy property in the UK, then UK nationals can buy property there and so on and so on.

The same would apply on all restrictions imposed on us by foreign governments in regards to employment, visa status, access to health and education etc

The "mirror law " would look at the request made by the national of whichever country and implement reciprocally whatever laws and restrictions their government placed on foreigners in their homeland. This would apply to any transactions they make in the UK.

It would not be so difficult to implement I believe, with the obvious exceptions such as refugees and humanitarian issues.

Let's face it, the vast majority taking advantage of the UK lax laws are well heeled, it isn't Isaarn farmers buying property in London.

It would be entertaining, if to see the Daily Wail and its British First followers keel over with heart attacks.

Imagine the reception that David Cameron would get announcing this new policy whereby Thai's were now going going to be able to enter the UK without any restrictions or prior approval provided they went home after 30 days or did a day trip to Paris (or maybe Scotland in the future) but they couldn't buy any property. He would then go on to explain that that Syrian's would not need to leave after a period of time but could stay as long as they liked plus buy whatever property they wanted.

[Orac]

Duplicate post

Edited October 12, 2015 by Orac

[Scouse123]

UK needs to adopt a policy where everything is in context and reciprocal to any and all other countries we are doing business with; be it visas, tax, land and property rights etc.

They should bring in an Act of Parliament that mirrors the requests and requirements of each countries laws.

Example, Thailand. You want to buy property in the UK, then UK nationals can buy property there and so on and so on.

The same would apply on all restrictions imposed on us by foreign governments in regards to employment, visa status, access to health and education etc

The "mirror law " would look at the request made by the national of whichever country and implement reciprocally whatever laws and restrictions their government placed on foreigners in their homeland. This would apply to any transactions they make in the UK.

It would not be so difficult to implement I believe, with the obvious exceptions such as refugees and humanitarian issues.

Let's face it, the vast majority taking advantage of the UK lax laws are well heeled, it isn't Isaarn farmers buying property in London.

It would be entertaining, if to see the Daily Wail and its British First followers keel over with heart attacks.

Imagine the reception that David Cameron would get announcing this new policy whereby Thai's were now going going to be able to enter the UK without any restrictions or prior approval provided they went home after 30 days or did a day trip to Paris (or maybe Scotland in the future) but they couldn't buy any property. He would then go on to explain that that Syrian's would not need to leave after a period of time but could stay as long as they liked plus buy whatever property they wanted.

I would work on the UK immigration desk free of charge- in fact I would even buy my own uniform................. just to see their faces when I fined them for overstay!!

I would then back it up with phrases such as " If you don't like it, go home ! " and wave them away like they do to us or sit there with that false smile pretending I don't know what they are talking about and laughing with my colleagues. I would then let them sit there an hour whilst I had my lunch.

I would then finish with " You go Paris, or you go Germany get correct visa from Embassy and come back! "

By the way, " Any guns in your hand luggage? " I would love it just for a day!

It's on my bucket list!!!!

[Scouse123]

Anyone want to buy a steel mill ?

[ronwparker]

I am an expat Uk citizen living in CNX.

I am surprised by her views as I keep most of my money offshore to avoid tax legally!

Any ideas ?

Ron

[chiang mai]

She's doing all her financial transactions through a company she owns. As an individual your only real option is to become non-UK resident for tax purposes.

[Prbkk]

Reading ??? not the nicest of places.....

Certainly Oscar Wilde would have agreed.

[gandalf12]

Yep come to Thailand get married have children,pay for medical and school expenses and the right to abode,own no land,property or businesses outright or without jumping through hoops.

In stark contrast you can go to the UK and do anything you so wish.

Buy property,football clubs,invest in business,nip to the hospital,claim social security,asylum or any other of the numerous schemes on offer.

It does make you wonder why so many people myself included choose to leave the relative safety of the U.K. from a financial and family perspective,when everything is so much easier there.

Still we are put on this earth to be tested.

The UK needs to use the Thai laws when it comes to buying anything in the UK. I bet they would be up in arms if the properties had to be owned by a Brit

[gandalf12]

I am an expat Uk citizen living in CNX.

I am surprised by her views as I keep most of my money offshore to avoid tax legally!

Any ideas ?

Ron

Maybe she uses creative accounting. Like you I keep my money well away from the UK

[Basil B]

This is why ordinary British folks can't afford to buy any properties in and around London?

Uk the country with no regulations, hence why a lot of property in and around London is bought by foreigners laundering money got through I'll gains. My personal view is that you should be a uk resident to buy property in the uk. That would stop places like London becoming the playground for the international rich.

Try Redcar...

http://www.theguardian.com/business/2015/oct/02/ssi-redcar-steel-workers-80m-lifeline

[Thai at Heart]

Fact is, on the whole the UK benefits from having foreign money enter the economy. Individual Thais benefit from closing of Thailand, but the country as a whole suffers.

I don't see that as winning at all.

[GAZZPA]

This is why ordinary British folks can't afford to buy any properties in and around London?

Uk the country with no regulations, hence why a lot of property in and around London is bought by foreigners laundering money got through I'll gains. My personal view is that you should be a uk resident to buy property in the uk. That would stop places like London becoming the playground for the international rich.

And it is the most ill informed opinion. Where is your data to show that dodgy foreigners laundering money is the reason why London prices are so high? Please provide me with this information because it is a first for me.

When you buy a house or property in the UK and you pay a large sum of money up front, or even pay for it outright the purchase has to pass money laundering regulations.

It is a good thing that foreign companies invest in the UK, it brings additional revenue in and by and large creates extra jobs, that means extra wealth, extra tax etc, etc.

London property prices are so high for hundreds of reasons that I will not elaborate here, I will say however in what major capital city in the World is property now cheap?

Of course foreign investment is a big part of London real estate now as it is in every single major city in the World.

[robertthebruce]

This is why ordinary British folks can't afford to buy any properties in and around London?

Uk the country with no regulations, hence why a lot of property in and around London is bought by foreigners laundering money got through I'll gains. My personal view is that you should be a uk resident to buy property in the uk. That would stop places like London becoming the playground for the international rich.

Try Redcar...

http://www.theguardian.com/business/2015/oct/02/ssi-redcar-steel-workers-80m-lifeline

Fantastic Racecourse......

[EnglishJohn]

This is why ordinary British folks can't afford to buy any properties in and around London?

Uk the country with no regulations, hence why a lot of property in and around London is bought by foreigners laundering money got through I'll gains. My personal view is that you should be a uk resident to buy property in the uk. That would stop places like London becoming the playground for the international rich.

And it is the most ill informed opinion. Where is your data to show that dodgy foreigners laundering money is the reason why London prices are so high? Please provide me with this information because it is a first for me.

When you buy a house or property in the UK and you pay a large sum of money up front, or even pay for it outright the purchase has to pass money laundering regulations.

It is a good thing that foreign companies invest in the UK, it brings additional revenue in and by and large creates extra jobs, that means extra wealth, extra tax etc, etc.

London property prices are so high for hundreds of reasons that I will not elaborate here, I will say however in what major capital city in the World is property now cheap?

Of course foreign investment is a big part of London real estate now as it is in every single major city in the World.

http://www.theguardian.com/uk-news/2015/jul/25/london-housing-market-launder-offshore-tax-havens

Seems he is not the one ill-informed.

The UK government make millions from it which is why it goes on. The UK got sold down the river long ago. The country is pretty much foreign-owned now. We are even paying the French government to hire the Chinese to build nuclear reactors which we will then pay through the nose for the power. Selling your assets to foreigners is easy money, but then you lose your in-country capability for the future.