Foreigners can no longer buy houses in Thailand via company.

[malcolminthemiddle]

Malc,

Actually you reached a conclusion on the subject before reading the details of the subject matter.

To use your quote:

a conclusion deduced by surmise or guesswork

If you dish it out Malc, you need to learn to take it also. This is a decent website not TV forum

Burger

Hi Burger,

Normally I should not respond but on this occasion, if you insist on carrying on the debate I shall gladly make an exception.

A typical example of conjecture is your previous post to which you now refer.

http://www.huahinafterdark.com/forum/vi ... c&start=75

It's all about foreign property developers and all that 'may' come with them (non-paying of taxes, money laundering etc etc).

The government told us that in their 15th May Ministry of Interior Statement, didn't they ?

Although I have still not found an authenticated translation of the ministry statement I have found your earlier post where you posted a translation yourself, here there is no mention of non payment of taxes and money laundering that I can see.

http://www.huahinafterdark.com/forum/vi ... c&start=15

I appreciate it is every ones right to post an opinion but to promote that opinion as if it is from “some one in the knowâ€

[STEVE G]

Clive wrote;
I am given to understand that to join the WTO, applicant countries must remove all restrictions on foreign ownership, land, companies w,h,y. So my guess is in a few years time all will come right.


Hi Clive, I am not posting here to be argumentative, but as a point of fact the WTO only concerns trade between nations, and land ownership has no part in it. The WTO has requirements in such things as trade quotas, intellectual property rights, provision of services, transparent business law, etc.
In 2004 Cambodia became the 148th member of the WTO with very similar restrictions on foreign land ownership as Thailand.

[Burger]

Jeez Malc, you're a bit of a sensitive type ain't ya.

You have a light hearted dig at me, I have a light hearted dig back and all of a sudden you want to examine some banter to the empth degree.
I assumed you could handle a bit of the same stick you were dishing out, I was wrong.

Me, tuktukmike and others have drawn out debates over important stuff like the land issue, but theres no need for it over petty issues.

Chill out Malc and enjoy the forum.

Cheers

Burger

[Burger]

Mike,

So you do admit to making the reckless claims.

You hung your hat that the government were now going to investigate the companies, now the government has released their regulations we see that all is ok.

You made the wrong assumptions but are clearly not man enough to offer apologies to those who you may have caused unneccessary concern. That is your perogative.

For someone who always maintained that this was bad news for you also and they you did not want to see any problems come to the companies you do not seem to be taking this news quite so well as we thought. Wonder why

Take a look on the new government directive to the land offices on here tomorrow and they'll be more good news for you.

Cheers mate,

Burger

[hogus]

I got a translation of the "magical" letter (not an official translation, but from my wife).
There are no wonderful news...mostly all was said already on the Majestic-Meeting by the local officials.
I think it's not necessary to repeat the results of this meeting anymore!
Present publications in newspapers confirm TTM’s and others opinion without any doubt additional.
(The only open question is in which way the government will handle and treat normal people, which bought land & houses by the company-route!)

Amazingly, how some people interpret clear and unequivocal law regulations, until they like it.
Hope Mr. Burger and Co won't burn their fingers too much, while they play with the fire.

Good luck, mates!

[Burger]

hogus wrote:

I got a translation of the "magical" letter (not an official translation, but from my wife).
There are no wonderful news...mostly all was said already on the Majestic-Meeting by the local officials.
I think it's not necessary to repeat the results of this meeting anymore!
Present publications in newspapers confirm TTM’s and others opinion without any doubt additional.
(The only open question is in which way the government will handle and treat normal people, which bought land & houses by the company-route!)

Amazingly, how some people interpret clear and unequivocal law regulations, until they like it.
Hope Mr. Burger and Co won't burn their fingers too much, while they play with the fire.

Hogus,

Please read the goverment's statement to the land offices tomorrow. It says that they are only required to ask for additional shareholder information when the company buying the land is buying in for the purpose of carrying out real estate business related to sale of houses, leasing of houses, hotel or resort management.
Land offices are not required to carry out any additional checks to other land purchasers.
That is why the land office had the authority to start transfering land again the week before last.

If you honestly would like to understand the situation correctly then PM me and I will gladly meet you, show you the letter and explain.
If you are merely trying to keep old arguments burning then go ahead and fill your boots.

Burger

[hogus]

Thanks for your kind offer, Burger.
But the letter I've already, and for an official (?) translation I'll wait until tomorrow as you suggested.

In the moment I can't see any relevant news, as I've written above!
Therefore let's sit, relax and wait what's going on.
Both of us won't be able to change coming things, right?
But may be we can have a couple of drinks together someday and try to explain each other the current situation?
I suppose, we won't come to an agreement, because of our different views and interpretations, but may be we have a good time beside!?…who knows?

Cheers

[STEVE G]

Hogus wrote;
But may be we can have a couple of drinks together someday and try to explain each other the current situation?


No offence you two, but if this thread is anything to go on, I would plan on more than a couple of drinks, you had better make a weekend out of it at least!

[hogus]

Great idea, Steve...and after this weekend with a lot of drinks Burger will be agree that the company-route is an absolutely illegal bullshit, and I'll buy a house with swimming-pool, huh?

[tuktukmike]

100% no

Mike,

So you do admit to making the reckless claims.

You hung your hat that the government were now going to investigate the companies, now the government has released their regulations we see that all is ok.

We are clearly reading 2 different letters.

As for frightening people (tosh)

I have posted a list of real Lawyers and the numbers for the Consulate, I also advise your friends to seek legal advice rather than taking anyones advice including mine and yours.

You must always remember i dont build or sell real estate i do what i have done for the last 7 years.

In fact i got a nice call from the Embassy yesterday as i gave their number to a couple who were concerned about a house purchase, they are now going to meet with a good lawyer for advice.

Now whats wrong with that?.

Mike.

[Burger]

tuktukmike wrote:

i got a nice call from the Embassy yesterday as i gave their number to a couple who were concerned about a house purchase, they are now going to meet with a good lawyer for advice.

Now that's the way to do it - at last responsible action, bravo.

There's nothing at all wrong with giving out lawyer's numbers, embassy etc. Never said there was.

There is something very wrong IMO in getting on your soap box and spreading concern and making reckless claims BEFORE waiting for the official government statements. As we've seen, once these statements come out, things seem a lot better indeed.

There were a lot of worried people stuck back in Europe on here when this all kicked off (go back and look over the posts), do you really think your statements about the possibility of court action, losing land, losing life savings etc helped them at all.

You were reckless and I think deep down looking back with hindsight, you know you were. I can't understand how you thought you had the right to spread so much concern!?!

We'll end this particular debate now, we've done enough on it.

Burger

[hogus]

hmmm...don't want to disturb both of you (TTM & Burger) too much in your battle of words, but I suppose it's more reckless to tell worried people all is going fine or even all is going better, although published official statements are showing the opposite.

The government threatens with intensive investigations in view of unlawful land-acquisitation by Thai-companies with foreign shareholders; possible consequences for those companies are indicated and published!

Of course, many people are worry now... and I would be, too, especially if I had founded a company with the only purpose to buy a house & land.
I don't think, that normal buyers will be confronted with a court procedure someday...(as someone posted already, Thai-Law offers mostly an emergency-exit), but they should be prepared for possible inconveniences.

As we know, some people canceled their companies already and transferred their property to Thai-gf's or wife’s name, others sold or trying to sale their property again.
There is no panic and their shouldn't be, but you also can't ignore, that times and laws are becoming harder for foreigners.
Everybody who's thinking he could be affected should find out, which option is the best for him.
The advice from a real and neutral lawyer is recommendable.
I suppose, there are too many individual cases, which make it impossible to point out a general answer.

For our real estate friends I'd like to make the following suggestion:

Forget about the company-route!
This way reminds more of a country-lane from good, old times, than to be a modern and comfortable super-highway.
Why not change your business-policy and offer your objects for long-term-leasing or special gifts for Thai-spouses?
This would be much fairer (and 100% under the law), without any space of highly imaginative law-interpretations.
It would save bandwidth and time for all of us additional, and nobody needs to play the headmaster, telling each other when comments has to stop.

No offence, just a suggestion!

[malcolminthemiddle]

Chill out Malc and enjoy the forum.

Cheers

Burger

Same to you, I am a nice guy really.

[Burger]

Hogus,

There was an article in the Bangkok Post the other day stating the government were going to have a closer look at shareholders within the 'foreign companies'.
They followed that up with their regulation (see link below, malcolminthemiddle posted it the other day) and the only additional documentation they require is proof the shareholder has the funds, copies of bank statements were listed as one such proof.

This is already carried out by our solicitors when correctly setting our companies, so I can't see of any problem there, unless you can ?
The issue of the Thai shareholders was always the main area of concern for those critical of the company set-up, this new government regulation dampens those concerns somewhat IMO.

Burger

http://www.huahinafterdark.com/forum/vi ... php?t=4094 ...... 4th post in.

[johnnyk]

Now for some actual facts...
My friend went two weeks ago to do his land transfer for a house in The Heights.
Land Office couldn't do it immediately because they knew the gov't had clarified it but they did not have it in writing.
Told him to come back a week later.
He came back and an hour later he had his chanote in his company name.