Investing 5 million baht in CM

[ggt]

Build a Clinic devoted to providing breathing treatments...will be a big hit...especially if you allocate some of your resources to educating the public on how to avoid chronic breathing problems...

[Somnambulist]

Ah, OK, so "finalized" was a poor choice of words. It's completely ammicable so I guess that's an Amphur divorce. My new phrase. Thanks. So, that means I'd "own" a house in Thailand? Is there a time limit on that?

Nope you just get the Amphur office to enter the details on the divorce form.

'Family home 100% for husband, held in the former wifes name until sold, sole occupancy/control for husband, proceeds from the eventual sale to be 100% husband'.

When the house is eventually sold, does the exwife need to sign? It's not that I don't trust her, but there is always the possibility of untimely death. BTW, thank you. This is fantastic info.

[Somnambulist]

Build a Clinic devoted to providing breathing treatments...will be a big hit...especially if you allocate some of your resources to educating the public on how to avoid chronic breathing problems...

I just tell people to do medical qigong. It has done wonders for my asthma.

[WorkingTourist]

One big fancy condo is much harder to rent out that a couple cheapies. There's just a bigger market for the cost-conscious. Also you spread out the risk.

A lot of semi-retired people come to Chiang Mai to stay long-term, and they go for the “above average” condos of which there are very few, at least if you want a good location which isn’t under a flight path.

For the cost-conscious, there seems to be an abundance of available units.

[MaeJoMTB]

Ah, OK, so "finalized" was a poor choice of words. It's completely ammicable so I guess that's an Amphur divorce. My new phrase. Thanks. So, that means I'd "own" a house in Thailand? Is there a time limit on that?

Nope you just get the Amphur office to enter the details on the divorce form.

'Family home 100% for husband, held in the former wifes name until sold, sole occupancy/control for husband, proceeds from the eventual sale to be 100% husband'.

When the house is eventually sold, does the exwife need to sign? It's not that I don't trust her, but there is always the possibility of untimely death. BTW, thank you. This is fantastic info.

Can't see her agreeing to the divorce on those terms.

No matter how 'friendly' she appears now.

Still pigs may fly.

[Somnambulist]

I'll know by mid January. I'll let you all know.

[peterb17]

Haven't you noticed that we are living in a country ruled by a military Junta?

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

Nonsense, listen, investors who don't have any balls ought to stay home and put their money into a post office savings account!

And have you ever thought why there's so many Chinese businesses in Thailand, it's because they at least know there are good investments to be had here that will produce solid returns.

And And: in no way shape or form is the Thai government making Thailand more unattractive to tourists. They're making Thailand more and more unattractive to would be or pseudo tourists, those that want to live here but don't have the correct visa to do so.

I will stand corrected if you can give one sensible example of how the Junta is making the Kingdom more attractive to the genuine well heeled tourist.

[Naamblar2014]

Good luck. I hope all goes well and am interested if this ampur settlement about the house going to husband will proceed smoothly.

[dhream]

Not the sort of post I would make on an open forum,

letting others know what cash you have is not a good

idea,anywhere.

regards Worgeordie

It's not as if we have his mugshot and he's actually wandering around the moat with a bulging briefcase.

Marc Faber the famed and very rich finance pundit and CNX resident, don't see him looking too worried wandering about town.

[bangmai]

Don't look a gift horse in the mouth....liquidate it before her new bf instructs her otherwise. Even the ability for her to borrow on it could be catastrophic.

[theguyfromanotherforum]

Marc Faber, lol...

What's the name of that other clown who lost his paper gold in MF Global

[bangmai]

what if she finds out that property acquired jointly in your home country is split 50/50, even if ever penny of it was from the husband?

[Somnambulist]

what if she finds out that property acquired jointly in your home country is split 50/50, even if ever penny of it was from the husband?

She doesn't want anything from me.

[sendintheclowns]

So with 5 million to burn I'd be looking at getting two or three places between one and two million. And then the remaining money you get to use for renovations, furniture, etc. It does all need to look crisp and new.

Also the worse the current state the better it is, because chances are you'll end up doing major renovations anyway, which often means gutting the lot so it doesn't matter if it looked complete crap or 'somewhat okay' to begin with.

This while making sure that the building itself is not a complete disaster in terms of management and facilities. Doesn't need to be super and it can definitely be a bit older, but bthings like elevators, water supply and general appearance of the lobby should not be in doubt.)

Or just say 'F#$& It' and go enjoy that 5 million, using it on hot bikes and fast women instead of squandering it.. Hmmm...

The Irish expression was fast women and beautiful horses..........

[Colabamumbai]

I have 40 years experience with Thailand, land, condos etc, are all overpriced I would not invest a penny expecting a profit, the reality is you will lose it, one way or another.

[mcfish]

I have 40 years experience with Thailand, land, condos etc, are all overpriced I would not invest a penny expecting a profit, the reality is you will lose it, one way or another.

Just because you can't afford the smallest size condo anywhere in Thailand doesn't make them all over priced.

Please share with us how we will all lose our condos " one way or another" in point form with explanations would be nice.

Sent from my SC-01D using Tapatalk

[puukao]

help the poor!!!! help the temples!!!! help bring in clean water!!!!

farang want more money, but not help fellow humans!!!!

i don't care about wealth or materialist possessions..

my trust gives 100,000,000 baht to the poor yearly

and i live on 1000 baht a year

Oh go on, spend a few hundred baht more, and get some English grammar lessons, we'll love you long time for it.

english no my first language.....you police grammer!!!! why why!!!!

i am english teacher in CM, however.

you no know!!!!!

[Oscar2]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

You have a link to a bust? I assume there are are many being caught out and it's a genuine question

Sent from my SC-01D using Tapatalk

it was on the news. also discussed in this forum.

[Oscar2]

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

1. Actually Government is trying to make Thailand MORE attractive for tourists. They just making it worse for those living here for 10-15k per month not contributing to economy at all.

2. Yes Chinese tourists do not rent condos. They buy them.

3. What you mean by filthy ? For me Pattaya is filthy, CM is getting less and less filthy.

Chinese tourists aren't buying condominiums....

[timendres]

OK, then let's say a guy has a Thai wife he trusts, so he intends to put the condos in her name and rent them out.

OMG! No.

[WorkingTourist]

I have 40 years experience with Thailand, land, condos etc, are all overpriced I would not invest a penny expecting a profit, the reality is you will lose it, one way or another.

40 years experience doing what exactly? Analysing future condo demand in Chiang Mai? Or just having spent time here since the seventies and thinking that this qualifies you to predict the future?

[mcfish]

1. you are about 4 years+ too late.

2, Air BnB is in a tough position in Thailand - see news. also many AirBnB falangs were busted by immigration for renting w/o work permit, not paying taxes, etc...

3. Thailand's economy expected to be in very bad shape in the coming year. not a good time.

4. consider other options; securities...

You have a link to a bust? I assume there are are many being caught out and it's a genuine question

Sent from my SC-01D using Tapatalk

it was on the news. also discussed in this forum.

Link?

Sent from my SC-01D using Tapatalk

[WinnieTheKhwai]

This doesn't make any sense then.

The condo purchase must be done with the funds from abroad.

Well that sounds like a challenge, to show to some staffer at the land office that funds arrived from abroad.

[WinnieTheKhwai]

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

1. Actually Government is trying to make Thailand MORE attractive for tourists. They just making it worse for those living here for 10-15k per month not contributing to economy at all.

2. Yes Chinese tourists do not rent condos. They buy them.

3. What you mean by filthy ? For me Pattaya is filthy, CM is getting less and less filthy.

Chinese tourists aren't buying condominiums....

They are. Unless the keyword is 'tourist'. But Chinese people who visit Chiang Mai a lot most defintiely buy condominiums, and in much greater numbers than any Western nationality.

[Torrens54]

Tax on income etc????

See a good lawyer first .

Is there any such creature here?

[chiang mai]

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

1. Actually Government is trying to make Thailand MORE attractive for tourists. They just making it worse for those living here for 10-15k per month not contributing to economy at all.

2. Yes Chinese tourists do not rent condos. They buy them.

3. What you mean by filthy ? For me Pattaya is filthy, CM is getting less and less filthy.

Chinese tourists aren't buying condominiums....

You wanna bet!

[chiang mai]

Haven't you noticed that we are living in a country ruled by a military Junta?

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

Nonsense, listen, investors who don't have any balls ought to stay home and put their money into a post office savings account!

And have you ever thought why there's so many Chinese businesses in Thailand, it's because they at least know there are good investments to be had here that will produce solid returns.

And And: in no way shape or form is the Thai government making Thailand more unattractive to tourists. They're making Thailand more and more unattractive to would be or pseudo tourists, those that want to live here but don't have the correct visa to do so.

I will stand corrected if you can give one sensible example of how the Junta is making the Kingdom more attractive to the genuine well heeled tourist.

You stand corrected anyway, I never said they were making anything to do with tourism more (or less) attractive.

[chiang mai]

Why can a non-UK resident no longer use the services of a onshore UK Independent Financial Advisers ?

Because the rules for British IFAs (and protection from the British financial authorities) only apply to British residents.

You tell them you're living in another country, and they won't handle your account.

But, you've gotta be daft enough to let them know, they don't check.

Me, I'm on holiday in France and Spain.

Iv'e told several British IFAs recently that i am living abroad and not one has mentioned that they can't handle my account ! do you have a link for this rule ?

I do not but as I understand it, it's a function of the Retail Review and a bi-product of money laundering regulations, a few simple Google queries with some of those key words should provide confirmation.

Also, are you UK non-resident for tax purposes or are you scamming the UK authorities with a bogus contact address, as to where you live?

Bump.

[akentryan]

A word of adviice re putting assets including bank accounts in a Thai wife's name. Use joint bank accounts where possible Regarding the other assets get the wife to make and legally record a will naming yourself as sole inheritor and executor. God forbid that your wife dies before you without a will. Her family will be waiting with open clutches to take as much as one-third of all the assets held in her name. In any event you will have to pay Thai Income Tax on whatever you inherit. Our house cost 1.2 million baht to get the family out so I could give it to a sister of my wife. I also had to pay 111K in income tax at the time of the transfer on the two-thirds I "inherited." My wife was 20 years younger than me and never sick a day in her life so exercise caution.

[Oscar2]

The Government seems bent of continuously passing laws to make Thailand a much less attractive place for tourists.

TAT will tell you numbers are up- the Chinese/ Indian tours do not rent condos .

The country is getting more filthy by the minute,

The idea that you ( as a foreigner) can invest a few million here and actually make a decent return is madness.

Just enjoy your money.

1. Actually Government is trying to make Thailand MORE attractive for tourists. They just making it worse for those living here for 10-15k per month not contributing to economy at all.

2. Yes Chinese tourists do not rent condos. They buy them.

3. What you mean by filthy ? For me Pattaya is filthy, CM is getting less and less filthy.

Chinese tourists aren't buying condominiums....

You wanna bet!

tourists???