Finacial ramifications for Thai marrying foreigner?

[maanoi]

Do certain things get more difficult/ complicated for a Thai woman when married (to foreinger).

For example bank loans/ mortgages. My partner has owned a profitable business for several years and has 2 mortages for investment properties. These were bought in the last 6 months and was a very straight forward process.

We are now looking to buy a 3rd property (to live in, not investment). She qualifies for the mortgage (30 years repayment)on her own, using her business as income.

We are soon to be married and she is concerned the mortgage application process may become "harder" after we marry. Will the bank ask for any of my finacials? Thoughts?

Also, a friend of hers told her she will have to pay more tax when married. I've never heard of this and it seems outrageous....but then again crazier laws exist here.

[blackcab]

I can answer the tax question. If you both enter your own tax filings neither of you will pay more tax if you are married. You will both get your own allowances and deductions.

[Tomtomtom69]

I can't comment specifically other than to say things have become much more straightforward since around 2008, when a law was passed that now allows Thai nationals marrying foreigners to own land (previously this right was denied) as long as the funds used are the property of the Thai partner.

I presume the same situation applies for loans. However, it will probably be even easier if the woman retains her maiden name rather than taking on her husband's name.

[UNTOUCHABLE1]

she should get insurance on any loan she gets so that in case of death the property is paid off--normally if married the husband has to also sign for any loan she gets--you will also have to sign for any property sold or transfered to another name

[stgrhe]

Everything your wife owed before, whether it is loans or assets, belongs to her and it is her sole responsibility. You can never be responsible for anything that happened before you got married.

[thedemon]

I don't think you need to worry.

I have mortgages in my own name. My Thai wife has mortgages in her (married) name. I also have mortgages in my company's name. (yes, plenty of debt....)

My experienced is that banks in Thailand don't care at all whether you are Thai or a foreigner. They care only that they have adequate security and you can pay them back.

Agree with blackcab re tax implications of being married. Nothing to worry about.

[thedemon]

I should add that years ago I (& my wife) did suffer some anti-foreign sentiment from Bangkok Bank.

As said, that was years ago and they may well have improved. It;s not going to matter to me though. I binned them for good.

[dotpoom]

Why say anything to the bank about being married? just carry on as normal, no need to volunteer any information, that's just an observation on my part.

[sawadee1947]

I can't comment specifically other than to say things have become much more straightforward since around 2008, when a law was passed that now allows Thai nationals marrying foreigners to own land (previously this right was denied) as long as the funds used are the property of the Thai partner.

I presume the same situation applies for loans. However, it will probably be even easier if the woman retains her maiden name rather than taking on her husband's name.

However, it will probably be even easier if the woman retains her maiden name rather than taking on her husband's name.

WHY?

It's even more easier if the husband takes HER Thai name....?

[thedemon]

I doubt that it is possible for a mortgagor to not disclose their marital status to the mortgagee bank and a borrowers spouse must formally acknowledged the mortgage by signing a document

So I don't think there is anything to be gained by a wife not taking her foreign husband's surname.

If really concerned about that, just don't register the marriage. In fact I know some "married" Thai couples that have purposely not registered in order to avoid joint liability.

[chilli42]

No, there are no issues that either of you will have. That said, you will need to give careful thought to a will .... Understanding this may not be top of mind at this point in your life. However, one never knows when that screw might turn. If your wife were to pass on before you, the title she holds to the property can not pass to you as foreigners are not allowed to own land. There are limited options but encourage you to get this done as it is not an insignificant complication of a Thai/foreign marriage.

[thaihome]

If really concerned about that, just don't register the marriage. In fact I know some "married" Thai couples that have purposely not registered in order to avoid joint liability.

The previous prime minister is classic example of this.

Fairly common and not always done for financial reasons.

You can have the marriage ceremony without any paperwork or legal implications. Completely socially accepted.

TH

[utkb]

If you are American, then yes. Some thai banks will view her as an American person and not allow investments other than fixed deposits.

[shirtless]

In short expect to be broke in 2 years.

[maanoi]

So it seems it wont matter too much. She will be keeping her maiden name which is fine with me.

[maanoi]

In short expect to be broke in 2 years.

Why would she expect that?

[Johnniey]

In short expect to be broke in 2 years.

Why would she expect that?

I think he means you. Successful Thai women RARELY marry a foreigner without some scam going on. I've known quie a few guys in my 30 years here to state they're marrying successful women to find out later they have financial PROBLEMS. Take care!

[maanoi]

In short expect to be broke in 2 years.

Why would she expect that?

I think he means you. Successful Thai women RARELY marry a foreigner without some scam going on. I've known quie a few guys in my 30 years here to state they're marrying successful women to find out later they have financial PROBLEMS. Take care!

I know he meant me.

But this thread is not about me. I'm a big boy. All my business interests are foerign and protected.

Well we've been living together for 6 years. I know exactly her finacial situation. Successful, but certainly not rich.

[elgenon]

No, there are no issues that either of you will have. That said, you will need to give careful thought to a will .... Understanding this may not be top of mind at this point in your life. However, one never knows when that screw might turn. If your wife were to pass on before you, the title she holds to the property can not pass to you as foreigners are not allowed to own land. There are limited options but encourage you to get this done as it is not an insignificant complication of a Thai/foreign marriage.

The property can pass to a foreigner but the foreigner has to then sell it.