Thai company for property purchase

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dundrillin
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Thai company for property purchase

Post by dundrillin » Fri Feb 23, 2018 6:18 pm

Does anyone have experience of buying land or property using the Thai Company route?

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Pagey
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Re: Thai company for property purchase

Post by Pagey » Sat Feb 24, 2018 9:25 am

Yes.
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dundrillin
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Re: Thai company for property purchase

Post by dundrillin » Sat Feb 24, 2018 11:13 am

Pagey wrote:
Sat Feb 24, 2018 9:25 am
Yes.
Good, and would you like to give me the benefit of your experience ?

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Re: Thai company for property purchase

Post by Pagey » Sat Feb 24, 2018 1:23 pm

No problem but you need to be more specific, what do you want to know ? PM would be better.
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Re: Thai company for property purchase

Post by dundrillin » Sat Feb 24, 2018 2:16 pm

Pagey wrote:
Sat Feb 24, 2018 1:23 pm
No problem but you need to be more specific, what do you want to know ? PM would be better.
I'm having trouble trying to send you a pm. My phone number is 0989 047 033

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Re: Thai company for property purchase

Post by GroveHillWanderer » Sun Feb 25, 2018 8:13 pm

If you decide to go the Thai company route, it's perhaps worth bearing in mind that it means setting up a company where (typically) you own 49% of the shares and Thais own 51% but you have the controlling vote. A few years ago, the Thai government announced its intention to start investigating the Thai shareholders in such companies to determine if they are 'nominee shareholders' (people who don't actually have the money that they would need to own the shares that are in their name). The use of nominee Thai shareholders is prohibited under Thai law.

Now, I haven't personally heard of any cases where an investigation has actually happened and/or caused any problems for a foreigner 'owning' property in this way but it might be worth asking whoever sets up the company for you, to make sure the Thai shareholders have the wherewithal to withstand scrutiny.

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Re: Thai company for property purchase

Post by dundrillin » Mon Feb 26, 2018 3:49 pm

GroveHillWanderer wrote:
Sun Feb 25, 2018 8:13 pm
If you decide to go the Thai company route, it's perhaps worth bearing in mind that it means setting up a company where (typically) you own 49% of the shares and Thais own 51% but you have the controlling vote. A few years ago, the Thai government announced its intention to start investigating the Thai shareholders in such companies to determine if they are 'nominee shareholders' (people who don't actually have the money that they would need to own the shares that are in their name). The use of nominee Thai shareholders is prohibited under Thai law.

Now, I haven't personally heard of any cases where an investigation has actually happened and/or caused any problems for a foreigner 'owning' property in this way but it might be worth asking whoever sets up the company for you, to make sure the Thai shareholders have the wherewithal to withstand scrutiny.
Good point, thanks.

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Re: Thai company for property purchase

Post by PET » Tue Feb 27, 2018 7:41 am

A developer was telling me last week that the Land Office will no longer accept this type of company to own the land . Those that have already been accepted in the past are still Ok but not for new ones. That brings up the 30 + 30 + 30 leases which are legal for the first 30 years but the rest is just lawyers paper - it was not the governments intention to extend these leases so a very big doubt about their legality when 30 years expires?
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Re: Thai company for property purchase

Post by dundrillin » Tue Feb 27, 2018 8:12 am

PET wrote:
Tue Feb 27, 2018 7:41 am
A developer was telling me last week that the Land Office will no longer accept this type of company to own the land . Those that have already been accepted in the past are still Ok but not for new ones. That brings up the 30 + 30 + 30 leases which are legal for the first 30 years but the rest is just lawyers paper - it was not the governments intention to extend these leases so a very big doubt about their legality when 30 years expires?
I'll need to check that double quick.

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