2 mill baht

[kingstonkid]

If I have a deal with a bank for a 1'5 mil mortgage does that count as 1.5 against the 2 mil?

[thairay]

thanks for a clear question.i will think about it and then wonder why...what 2 mill?

[chiang mai]

deleted

[onthemoon]

The 2 million are clearly so that he can apply for a work permit. But it is a good question whether the mortgage counts towards it, I'd be interested to know too.

[blackcab]

The mortgage itself can not be used as it is a liability and not an asset. However, if the mortgage is going to buy property in the company name then once you have the property in the company name it can count as a business asset while the mortgage counts as a corresponding liability.

If you buy land with the mortgage then this can not be depreciated (in normal circumstances). Buildings on the land, however, can be depreciated.

[chiang mai]

The 1.5 mill. mortgage is a personal liability not a company one, with capitalization of less than 2 mill. no bank on the planet would grant a 1.5 mill. mortgage to that company. So whilst you may put the house inside the company, the liability for the mortgage doesn't transfer, that's yours babes and no amount of lipstick will change what that picture is.

Short answer: No.