Govt floats long-term land leases for foreigners

[Naam]

1 hour ago, Destiny1990 said:

Is the current advice here now in case of a land and house purchase its wise to have the land and house to be separated and to put the house in the buyer his name and the land in a company its name and this is legal?

unfortunately this option is not available for an existing (built) property.

[Naam]

41 minutes ago, janclaes47 said:

 

Regardless of what Naam want you to believe, it is illegal for a Thai company to be set up for the sole purpose of owning a plot of land.

 

If the company has other activities the company can also own land, but foreign ownership of the company in that case is restricted to 39%, where a company that doesn't own land can have 49% foreign ownership.

regardless what anyone says all "developers" have set up legally companies which deal exclusive with land/property. these companies neither repair motorcycles nor export rice or shrimps.

[janclaes47]

38 minutes ago, Naam said:

regardless what anyone says all "developers" have set up legally companies which deal exclusive with land/property. these companies neither repair motorcycles nor export rice or shrimps.

Exactly, they run a real estate business, in which they buy and sell properties, even an eggsburst would understand the difference between such a company and the one that owns a single plot of land.

 

 

[sendintheclowns]

15 hours ago, Destiny1990 said:

I admit this is mine  understanding also and that is why they are floating the proposal for freehold or expanding  the 30 years current lease term for landplots.

Being Thailand, it is and it isn't. IF you have a house on land owned by a Thai majority owned company (remembering to have a proper money trail) AND you pay rent to the company for occupying the land, my understanding (based on professional advice) is that the company will withstand scrutiny of the authorities. However, if you end up in court, all bets are off. You are at the mercy of the whims of ''the system'' and you ain't gonna win if it is a westerner versus a Thai national. all, just in my humble opinion.

[sendintheclowns]

17 hours ago, Naam said:

am i smarter because i have a German wife since 1979? 

Yes! me too, since 1973 (Danish)

[Naam]

1 hour ago, sendintheclowns said:

IF you have a house on land owned by a Thai majority owned company...

better to have a house on land owned by a publicly quoted Thai company without any Farang directors or Farangs holding voting shares and your rights clearly listed in the chanote. but then we are talking about a rather expensive initial setup.

[KonaRain]

So complicated, come to Hawaii, overstay Your visa, or bring a lot of money,so You can stay. Land on Hawaii island is still cheap, just bring in a few truckloads of soil..
Alohz

[pizzachang]

On 3/25/2017 at 11:01 AM, impulse said:

 

Call me cynical, but I'd wait a few years before hopping on that opportunity with my retirement savings, just to make sure they don't pull a Zimbabwe and change those rules when the leadership changes.

I've enjoyed reading the comments on this topic. I wonder if forum members could relate anecdotal experiences of similar experiences in the USA or other countries?  I had a friend cheated out of a 160 acre homestead in Alaska. Lived there for many, many years, so I am well-acquainted with what 'can' happen.  I think most of us (expat types) chose Thailand for reasons other than investment and realize the corruption is everywhere in the world.  After you pay the attorneys in the USA, to defend you from corruption, are you really better off?  The bottom line is much the same as it's always been...if you have enough money, you can do what you need to do and you will have to defend your 'money' at some point in your life. 

[wealthychef]

5 hours ago, pizzachang said:

I've enjoyed reading the comments on this topic. I wonder if forum members could relate anecdotal experiences of similar experiences in the USA or other countries?  I had a friend cheated out of a 160 acre homestead in Alaska. Lived there for many, many years, so I am well-acquainted with what 'can' happen.  I think most of us (expat types) chose Thailand for reasons other than investment and realize the corruption is everywhere in the world.  After you pay the attorneys in the USA, to defend you from corruption, are you really better off?  The bottom line is much the same as it's always been...if you have enough money, you can do what you need to do and you will have to defend your 'money' at some point in your life. 

 

The difference is that the USA is a nation of laws, and Thailand is a nation of lawgivers.  Therefore, in the USA, the law and the system is the thing that is corrupt and demoralizing.  In Thailand, it's certain people that are corrupt and demoralizing.  In both systems, though, you are right in that it's the wealthy and powerful that benefit.  It's the golden rule:  Those who have the gold make the rules.  

[Destiny1990]

18 hours ago, pizzachang said:

I've enjoyed reading the comments on this topic. I wonder if forum members could relate anecdotal experiences of similar experiences in the USA or other countries?  I had a friend cheated out of a 160 acre homestead in Alaska. Lived there for many, many years, so I am well-acquainted with what 'can' happen.  I think most of us (expat types) chose Thailand for reasons other than investment and realize the corruption is everywhere in the world.  After you pay the attorneys in the USA, to defend you from corruption, are you really better off?  The bottom line is much the same as it's always been...if you have enough money, you can do what you need to do and you will have to defend your 'money' at some point in your life. 

Another guy ?? that cant stop talk about the usa probably because he never has been in Thailand once!

Edited April 28, 2017 by Destiny1990

[Destiny1990]

18 hours ago, pizzachang said:

I've enjoyed reading the comments on this topic. I wonder if forum members could relate anecdotal experiences of similar experiences in the USA or other countries?  I had a friend cheated out of a 160 acre homestead in Alaska. Lived there for many, many years, so I am well-acquainted with what 'can' happen.  I think most of us (expat types) chose Thailand for reasons other than investment and realize the corruption is everywhere in the world.  After you pay the attorneys in the USA, to defend you from corruption, are you really better off?  The bottom line is much the same as it's always been...if you have enough money, you can do what you need to do and you will have to defend your 'money' at some point in your life. 

Edited April 28, 2017 by Destiny1990

[Destiny1990]

Anyway i think nothing is floating above any 30 years of land leases seems totally sunken☀️

[sendintheclowns]

On 4/28/2017 at 0:15 PM, wealthychef said:

 

The difference is that the USA is a nation of laws, and Thailand is a nation of lawgivers.  Therefore, in the USA, the law and the system is the thing that is corrupt and demoralizing.  In Thailand, it's certain people that are corrupt and demoralizing.  In both systems, though, you are right in that it's the wealthy and powerful that benefit.  It's the golden rule:  Those who have the gold make the rules.  

In most parts of the world legal decisions are  based on either Civil law or Common law. Memory fails me as to the instances where Case law is used/referred to. But the key thing missing in Thailand is the lack of reference to precedents. That means that if a lease was considered valid 5 years ago, there is no guarantee it will be secure today. An excellent article published in Thailand just last week identified several decisions by Phuket Courts, in 2015/6, where a plain jane 30 year apartment lease was declared void, because it had the option to renew beyond the initial 30 years. Interestingly, you will find all the countires  the world, listed at Wilkipedia, EXCEPT Thailand. 

[wealthychef]

7 hours ago, sendintheclowns said:

In most parts of the world legal decisions are  based on either Civil law or Common law. Memory fails me as to the instances where Case law is used/referred to. But the key thing missing in Thailand is the lack of reference to precedents. That means that if a lease was considered valid 5 years ago, there is no guarantee it will be secure today. An excellent article published in Thailand just last week identified several decisions by Phuket Courts, in 2015/6, where a plain jane 30 year apartment lease was declared void, because it had the option to renew beyond the initial 30 years. Interestingly, you will find all the countires  the world, listed at Wilkipedia, EXCEPT Thailand. 

 

Interesting info.  According to my friend (with casual but intimate knowledge), you are right in general but there are areas such as labor law where the rules are strictly and reliably enforced.  Of course this probably does not apply to important Thai officials, but it does apply to foreign corporations operating in Thailand, to the Thai government's credit.  Workers here actually do have some decent rights vs. multinational corporations.