Work permit not required to rent out condos, confirms Phuket labour chief

[Doc46]

Good that the labour office has clarified after the panic caused by the previous news report.

Just wait,,,,This will change ,,,

[KenKadz]

You mean to say:

Someone thought they had found an official easy source of new income.

Then they discovered that their new income infringed on the rental income of influential people in power?

So they had to *walk back* their new policy?

Edited July 16, 2016 by KenKadz

[NamKangMan]

You mean to say:

Someone thought they had found an easy official source of new income.

Then they discovered that their new income infringed on the rental income of influential people in power?

The 12 big families of Phuket must be protected at all cost.

[LivinginKata]

<snip>

All things taken into account, particularly the money I am making investing the capital elsewhere, and with no rent rises in sight, and no risks and expenses that come with property ownership here, I'm actually making money out of the property market here, and I am only renting.

It's a renters market.

I quite agree with you NKM. I wisely decided not to start a planned condo project in Kata. Put the money overseas into a high yield fund that pays monthly dividend. Making a higher percentage than I would have with building and renting. The long term rental market is dying.

What do you consider a high yield ?

In my personal experience, a net return of 6-8% is not hard to find in thai property.

We are all going way off the topic. It's about need WP or not. Return is another issue.

[GAZZPA]

I consider it possible that the Patong Palace Condominium management had an ulterior motive by scaring the co-owners with that notice. Too much disturbance caused by short-term renters?

Exactly, It is a private arrangement and what people do in regards to letting property that they own is their own business. If Thailand suddenly start to say "work permit required" etc, etc,,, it would crush foreign investments in condos overnight. it won't happen.

[hawker9000]

He said, then she said, then they said.... TIT. Enjoy the ride; it only gets bumpier for farangs from here.

[FredNL]

So I can also rent out my bike...
No work permit needed to rent out condos...

[Peterw42]

So I can also rent out my bike...

No work permit needed to rent out condos...

I suppose the same rational would apply, a private agreement between 2 people etc.

If you had a shopfront, 10 bikes etc, maybe not.

[geisha]

Phuket Palace condo owners and management have had trouble and problems for years.Then I think some necessary changes were made and it seemed to quieten down. Maybe the problems are brewing again. I'm sure someone from Phuket palace could put everyone right as to what is going on.

[PETERTHEEATER]

So if I own 10 units I can live like a king in Thailand renting out , no questions asked because it's a personal agreement ? Good to know.

I am living like half a king then...

Location, location and location, and not just number of units...

I am living like half a king then...

Your King Arthur?

[trogers]

Of course. No relevance whatsoever between employment and owning property for investment.

Same relevance as foreign money buying local shares and receiving dividends...

lots of different ways to look at it. maybe if you have an agency doing the actual management then you are not taking a job from a thai person. another way to look at it is a thai person is being derived of income by a foreigner renting out their condo as they are not renting off a thai person. the definition for 'work' in thailand covers pretty much everything. anyway the law will just be applied how the official on the spot interprets it. this announcement means nothing anyway. infact the whole discussion is pointless as it is not possible to get a work permit to rent out condos anyway.

Actually, I would welcome the Labour ministry issuing work permits to foreign owners, and the corresponding yearly visa from immigration.

Thailand would sell more Condo units too...

[karacho]

I was asking the question to the labour department that provide the workpermits in Chiang Mai." Does a foreigner need a workpermit to rent his room ?"

The chief's answer was very clear : Until you don't create something with your hand or with your brain, you don't need a workpermit.

If you rent your room you don't need a work permit but if you rent the room of someone else you need one.

The investment is the major expense, to let it visit is not significant.

The Thai law is wise to allow foreigners to buy condos. This bring a lot of money to their country and boost their economy.

[mcfish]

The number 1 reason why there will never ever be an introduction of Work permits across Thailand is because of the wealthy influential Thais themselves. These people have monster property portfolios and of course its the Thais that own most of the property in Thailand however if a ruling did go the way of the work permit then there would be an instant hit on the market as farang dump everything to be the first out and condo developments would stop leaving ten of thousands of half built shells , a condo wasteland.

This would destroy the portfolios of wealthy Thais of course as real estate sector implodes. And they aint gonna let that happened , not a chance!

The naysayer renters dont seem to understand this or even considered it , so we property owners are protected by default...wait for it....By the Thais themselves and that my friends is the best insurance you can get

[riverhigh]

Hooray - sanity prevails after so many nonsense post in the previous thread.

Give it time............................

Agree. Some of the wealthy Thai property owners must have had a word in the ear of the Chief. If Phuket is anything like Pattaya where there are thousands of condos for sale a law like this could hurt the wealthy Thai. They need foreign investors to prop up the prices. When the condo market returns to normalcy you can then enact this law.

[riverhigh]

Of course. No relevance whatsoever between employment and owning property for investment.

Same relevance as foreign money buying local shares and receiving dividends...

lots of different ways to look at it. maybe if you have an agency doing the actual management then you are not taking a job from a thai person. another way to look at it is a thai person is being derived of income by a foreigner renting out their condo as they are not renting off a thai person. the definition for 'work' in thailand covers pretty much everything. anyway the law will just be applied how the official on the spot interprets it. this announcement means nothing anyway. infact the whole discussion is pointless as it is not possible to get a work permit to rent out condos anyway.

Actually, I would welcome the Labour ministry issuing work permits to foreign owners, and the corresponding yearly visa from immigration.

Thailand would sell more Condo units too...

Work permits to foreign owners ... dream on! Where did you get this idea?? Been drinking again ... <smile>?

[mcfish]

Hooray - sanity prevails after so many nonsense post in the previous thread.

Give it time............................

Agree. Some of the wealthy Thai property owners must have had a word in the ear of the Chief. If Phuket is anything like Pattaya where there are thousands of condos for sale a law like this could hurt the wealthy Thai. They need foreign investors to prop up the prices. When the condo market returns to normalcy you can then enact this law.

Except their is no law to enact. They would have to create the law and one thing I can tell you is Thais are not good at some things but shitting in their own nest is not one of them..feathering the nest ? You better believe that brother !!

And I can tell you nobody needed a word in his ear. They do not hand out positions of power like that to poor people..our jovial looking friend more than likely owns many guest houses and god knows how many condos or condo blocks so why would he go out of his way to create a law that didn't exist?

Collapsing the market will always be the end result A-I-N-T G-O-N-N-A happen.

Edited July 16, 2016 by mcfish

[BlackJack]

someone better tell Pattaya Immigration as they are enforcing the rule

[Peterw42]

Ok, I'll bite.

What rule ?

[FritsSikkink]

Of course. No relevance whatsoever between employment and owning property for investment.

owning property for investment has nothing to do with renting out property

[Shot]

A shooting star takes the world for granted.

[swerver]

Good that the labour office has clarified after the panic caused by the previous news report.

So the Labor Office has clarified the case that renting property short term has nothing to do with the Labor Office.

Now what about the Business License Office???

Renting property, in this case shortterm, is the domain of the Business License Office same as a Hotel, Condotel, Motel, etc. must have and in full view to the using public a Business License. I'm sure that if ones in a great while you let your condo to a relative or friend on vacation to Thailand when you are not in residence yourself at that time the Business License office is not concerned about that. What they will be concerned about if you run your property on a regular basis for rental to every "Tom, Dick and Harry".

Remember Thai Gov. is getting more and more computerized, you may read about stupid mistakes they're making which is no different when you first start driving a motorvehicle, but in time you will learn the tricks of the trade, and so do the people working the computers in the Thai Gov.

[drgoon]

And his opinon counts over Government Legislation.... or is he a true and proper interpreter of the relative Legislation.

[Peterw42]

And his opinon counts over Government Legislation.... or is he a true and proper interpreter of the relative Legislation.

I think the guy who is in charge of WPs would have some idea.

[Peterw42]

Good that the labour office has clarified after the panic caused by the previous news report.

So the Labor Office has clarified the case that renting property short term has nothing to do with the Labor Office.

Now what about the Business License Office???

Renting property, in this case shortterm, is the domain of the Business License Office same as a Hotel, Condotel, Motel, etc. must have and in full view to the using public a Business License. I'm sure that if ones in a great while you let your condo to a relative or friend on vacation to Thailand when you are not in residence yourself at that time the Business License office is not concerned about that. What they will be concerned about if you run your property on a regular basis for rental to every "Tom, Dick and Harry".

Remember Thai Gov. is getting more and more computerized, you may read about stupid mistakes they're making which is no different when you first start driving a motorvehicle, but in time you will learn the tricks of the trade, and so do the people working the computers in the Thai Gov.

I asked my wife (who owns 2 businesses) about this. She said she has never heard of Business license Office. The 2 businesses she owns have no business licences, only a licence to sell beer. The only places with a license are hotels, bars, and pharmacy's. Most small businesses in Thailand dont even pay tax, let alone have a license.

[stevenl]

Good that the labour office has clarified after the panic caused by the previous news report.

So the Labor Office has clarified the case that renting property short term has nothing to do with the Labor Office.

Now what about the Business License Office???

Renting property, in this case shortterm, is the domain of the Business License Office same as a Hotel, Condotel, Motel, etc. must have and in full view to the using public a Business License. I'm sure that if ones in a great while you let your condo to a relative or friend on vacation to Thailand when you are not in residence yourself at that time the Business License office is not concerned about that. What they will be concerned about if you run your property on a regular basis for rental to every "Tom, Dick and Harry".

Remember Thai Gov. is getting more and more computerized, you may read about stupid mistakes they're making which is no different when you first start driving a motorvehicle, but in time you will learn the tricks of the trade, and so do the people working the computers in the Thai Gov.

I asked my wife (who owns 2 businesses) about this. She said she has never heard of Business license Office. The 2 businesses she owns have no business licences, only a licence to sell beer. The only places with a license are hotels, bars, and pharmacy's. Most small businesses in Thailand dont even pay tax, let alone have a license.

Also tour desks, diveshops and tour operators are licensed. Edited July 17, 2016 by stevenl

[NamKangMan]

Hooray - sanity prevails after so many nonsense post in the previous thread.

Give it time............................

Agree. Some of the wealthy Thai property owners must have had a word in the ear of the Chief. If Phuket is anything like Pattaya where there are thousands of condos for sale a law like this could hurt the wealthy Thai. They need foreign investors to prop up the prices. When the condo market returns to normalcy you can then enact this law.

Except their is no law to enact. They would have to create the law and one thing I can tell you is Thais are not good at some things but shitting in their own nest is not one of them..feathering the nest ? You better believe that brother !!

And I can tell you nobody needed a word in his ear. They do not hand out positions of power like that to poor people..our jovial looking friend more than likely owns many guest houses and god knows how many condos or condo blocks so why would he go out of his way to create a law that didn't exist?

Collapsing the market will always be the end result A-I-N-T G-O-N-N-A happen.

"Collapsing the market will always be the end result A-I-N-T G-O-N-N-A happen." - with 2000 condos and 300 houses currently for sale on Phuket, some may say the market has already collapsed.

Actually, there is no "market" if nothing is selling.

"They do not hand out positions of power like that to poor people." - correct. A position like this is bought. Just because he is rich, doesn't necessarily mean he is smart, but keep the faith, "brother."

Edited July 17, 2016 by NamKangMan

[mcfish]

I have a diversified portfolio, spread across 3 continents. Cash, property, and shares. All structured legally, for tax minimization, and my citizenship.

I do have some cash at bank, but it is not the main earner in my portfolio. Like you say, the returns for cash at bank are poor.

My portfolio is current earning, across the board, around 6.5%. In general, it is a lower to middle risk portfolio, and has been serving me well. I rarely get a shock from any particular market. I made a few quid on Brexit, but do have some property exposure to this, but its real effects are a long way off, if in fact the UK go out at all.

I could possibly earn more by investing with a higher risk, but living here, there is no need to. What I currently earn is more than enough for me.

Whilst 6.5% is modest, the good old days of double digit returns couldn't last forever, still, it's not too bad.

"Part of the reason I brought here was a reasonable return compared to bank 3% or stock market 4%." - talk about going from the kitchen into the frying pan.

I dont buy this sorry. I understand you want some credibility when playing with the big boys and your probably a good guy but your a terrible story teller. Let me tell you why

1. You dream vividly of waking up to news of a complete real estate sector crash.

2. You also state the reason being is to get a better rental deal. Thats it ? LMAO

So out of a multi billion dollar property wipe out you hope to go from 3k/month rent to 1k/month. Two thousand baht savings for a total crash !

Now had you have said you would scoop up 10 x 1 mill baht condos (reduced from 5 mill) I probably would have taken you seriously or if you can point me to a post similar I will re evaluate you but you dont have an investor mindset and thats why your for ever trapped a rental loop

However I had look over at the investment forum and you dont have any posts

Thats because you dont have any shares . All your posts are in the real estate sector, now why is that ?

As other have said your motivation is based on jealousy alone. And that my friend is why you have no credibility.

You have been exposed

Edited July 18, 2016 by mcfish

[LivinginKata]

^

Utter nonsense reply. I could defend NKM but that would be off the original topic.

Edited July 18, 2016 by LivinginKata

[theguyfromanotherforum]

Agreed. Canadian real estate has been going through the roof, yet the guys who invested in markets and decided to rent did much better.

Personally, I don't have a stomach for markets anymore and prefer having a hard asset. However, I will invest in such asset in a country where I have rights and where construction standards are of highest quality.

[NamKangMan]

I have a diversified portfolio, spread across 3 continents. Cash, property, and shares. All structured legally, for tax minimization, and my citizenship.

I do have some cash at bank, but it is not the main earner in my portfolio. Like you say, the returns for cash at bank are poor.

My portfolio is current earning, across the board, around 6.5%. In general, it is a lower to middle risk portfolio, and has been serving me well. I rarely get a shock from any particular market. I made a few quid on Brexit, but do have some property exposure to this, but its real effects are a long way off, if in fact the UK go out at all.

I could possibly earn more by investing with a higher risk, but living here, there is no need to. What I currently earn is more than enough for me.

Whilst 6.5% is modest, the good old days of double digit returns couldn't last forever, still, it's not too bad.

"Part of the reason I brought here was a reasonable return compared to bank 3% or stock market 4%." - talk about going from the kitchen into the frying pan.

I dont buy this sorry. I understand you want some credibility when playing with the big boys and your probably a good guy but your a terrible story teller. Let me tell you why

1. You dream vividly of waking up to news of a complete real estate sector crash.

2. You also state the reason being is to get a better rental deal. Thats it ? LMAO

So out of a multi billion dollar property wipe out you hope to go from 3k/month rent to 1k/month. Two thousand baht savings for a total crash !

Now had you have said you would scoop up 10 x 1 mill baht condos (reduced from 5 mill) I probably would have taken you seriously or if you can point me to a post similar I will re evaluate you but you dont have an investor mindset and thats why your for ever trapped a rental loop

However I had look over at the investment forum and you dont have any posts

Thats because you dont have any shares . All your posts are in the real estate sector, now why is that ?

As other have said your motivation is based on jealousy alone. And that my friend is why you have no credibility.

You have been exposed

You're a funny guy, with a vivid imagination.

"You dream vividly of waking up to news of a complete real estate sector crash." - the market has already crashed.

"You also state the reason being is to get a better rental deal." - I already have a great rental deal, with no rent increase in 2 years, and no increase in sight. The owner of my apartment, a foreigner, left Phuket some time ago. He, and his apartment, are a prime example of what I am talking about.

I do not post in the investment forum, like I don't post in the real estate forum. So, I don't know why you say all my posts "are in the real estate sector."

So, with 2000 condo's and 300 houses on the market, and with nothing selling, what's the value of your condo????