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NEW LAW Property owners

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Buakow
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NEW LAW Property owners

Postby Buakow » Tue Oct 04, 2016 3:40 am

Expats who own land illegally in Thailand could be deported under tough new laws being drafted by the government.
Thai ombudsman Siracha Charoenpanij said earlier this month that he was drawing up "carrot-and-stick" legislation to protect the country from illegal foreign nominee ownership.
Under Thai laws, foreign nationals are not allowed to own residential land. They can, however, buy apartments so long as no more than 49 per cent of a development is owned by foreigners. They can also purchase detached villas, but while they can own the house, they cannot own the land the house is on and are only able to lease it for 30 years at a time.
To get around these restrictions, some have entered into complicated structures whereby a company is set up to purchase the land. A Thai national holds the majority of shares in that company, but in reality may have no financial interest in the company and may own it on behalf of the foreign buyer.
It is these such "nominee ownership" arrangements that the government now wants to crack down on, and Charoenpanij has also proposed a reward – of 20 per cent of the land’s value when sold – for those providing information about illegal ownership. His plans also include penalties for lawyers or consultants who advise foreign buyers on nominee structures.

http://www.telegraph.co.uk/finance/personalfinance/expat-money/9413075/Expats-warned-of-illegal-home-crackdown-in-Thailand.html

nil
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Re: NEW LAW Property owners

Postby nil » Tue Oct 04, 2016 4:52 am

The news article is from 2012.

Farang
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Re: NEW LAW Property owners

Postby Farang » Tue Oct 04, 2016 12:24 pm

We all know who in reality own and run Thailand. They are clever enough not to kill the cash cow, even if the military is not.

Luckily, they also run the military. The Chivilinese.
Thank God for atheists!

HHTel
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Re: NEW LAW Property owners

Postby HHTel » Wed Oct 05, 2016 10:20 am

nil wrote:The news article is from 2012.


And after 4 years - same same. Says it all!

Buakow
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Re: NEW LAW Property owners

Postby Buakow » Sat Oct 08, 2016 2:10 am

Farang wrote:We all know who in reality own and run Thailand. They are clever enough not to kill the cash cow, even if the military is not.

Luckily, they also run the military. The Chivilinese.


Soo no fallang have lost there investment jet?

Farang
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Re: NEW LAW Property owners

Postby Farang » Sun Oct 09, 2016 3:42 pm

Buakow wrote:
Farang wrote:We all know who in reality own and run Thailand. They are clever enough not to kill the cash cow, even if the military is not.

Luckily, they also run the military. The Chivilinese.


Soo no fallang have lost there investment jet?


Oh, many, many have lost it, all of it. Most to their girlfriends, many to other farangs.
All due to stupidity combined with gullibility, none through change in Thai laws.
Thank God for atheists!


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