Can I give my condo to my friend as a gift?

[Peterw42]

10 minutes ago, Delight said:

 The evidence on the streets is not with you

There was a report a couple of weeks ago in phuket were a thai partner in a company sold 3-4 properties out from under the western owner.

 

http://www.bbc.com/news/magazine-34346620

 

 

[thedemon]

1 hour ago, Delight said:

 The foregoing discussions have prompted a question

 

Which is:

If a freehold condo is transferred into company -then is  a new FET required?

 

If I were in the OP's position and the answer is NO then I would  set up a company and   transfer

 

After that a name change of the position of MD is easy (and cheap) and for ever

 

(please no comments about the so called risks with a condo in a company name. I, for one, do not buy these arguments)

 

 

 

Since we are forbidden from commenting on the increased risk of company ownership, I won't mention it.

 

However,

 

1 - A company will pay higher transfer taxes (SBT) than an individual. 

 

2 - The condo will no longer be within the foreign quota so it may not be possible to sell to another foreigner in the future.

 

So not a very good solution really.

 

 

[KittenKong]

49 minutes ago, Delight said:

Perhaps you could attempt to answer my question. reference the need for a FET

 

Perhaps you should read my first paragraph, which you quoted. It answers your question.

[Destiny1990]

8 minutes ago, thedemon said:

 

Since we are forbidden from commenting on the increased risk of company ownership, I won't mention it.

 

However,

 

1 - A company will pay higher transfer taxes (SBT) than an individual. 

 

2 - The condo will no longer be within the foreign quota so it may not be possible to sell to another foreigner in the future.

 

So not a very good solution really.

 

 

Sorry but i think u just mentioned it?

[Delight]

1 hour ago, KittenKong said:

 

Perhaps you should read my first paragraph, which you quoted. It answers your question.

 You are right !

 

Thanks for your response

[Delight]

 Out of curiosity

 

Why would you wish to transfer your condo?

[BigKahuna]

Boyfriend

Life long friend

 

Who knows

 

If somone inherits one and does not want to live in the country it sounds like months and months of hassle to sort out ownership and sell it.

 

 

[Delight]

10 hours ago, BigKahuna said:

Boyfriend

Life long friend

 

Who knows

 

If somone inherits one and does not want to live in the country it sounds like months and months of hassle to sort out ownership and sell it.

 

 

 Non of your  statements are valid if the condo is in a company name.

I guess that about 30 to  40% of condos (outside Bangkok) are in companies -then it seems to me that the OP should consider that route