Limited Companies at the Land Office

[Super Joe]

Yes, if the Limited Company has a foreign shareholder.
What's the scenario Jimmy ? I've never known them to allow a Limited Company (with foreigner) to issue a lease, let alone if the lessee is the very same foreign shareholder. There would be no additional protection in this instance anyway.

SJ

[JimmyGreaves]

What's the scenario Jimmy ?
SJ

Hi Joe

4 year old Limited Company with Foreign share holder wanting to build a house on the company land with house having Foreign share holders personal name as ownership.

[Super Joe]

Yes you can register house on land in your own personal name, but the land will have to stay registered in Limited Company. The individual will not be able to get a lease off the company that has a foreigner. You can (should) rent property off company though and use this to pay a bit of tax.

Anyone already married to Thai should generate documentation (see solicitor) showing that funds to buy were personal property gained before marriage, ie not part of marital assets (Sin Somros).
Then in event of divorce Thai spouse on entitled to 50% of gain during marriage.

SJ

[JimmyGreaves]

Yes you can register house on land in your own personal name, but the land will have to stay registered in Limited Company. The individual will not be able to get a lease off the company that has a foreigner. You can (should) rent property off company though and use this to pay a bit of tax.

Anyone already married to Thai should generate documentation (see solicitor) showing that funds to buy were personal property gained before marriage, ie not part of marital assets (Sin Somros).
Then in event of divorce Thai spouse on entitled to 50% of gain during marriage.

SJ

Joe not sure what you mean here if I rent property off company then that must mean the company owns the property for me to rent it.

Me and the missus are majority share holders, not married, 1 daughter born Thailand 2 years old. Bottom line is daughter to inherit all.

[Super Joe]

The Company is receving an income (in the eyes of Inland Revenue) from an individual, shareholder/MD or not, who is using their land. IRD will not accept you are using their land rent free and would apply their market rates in lieu of your delcared rates.
It would be in your interest to pay some anyway, unless you have a real active business. A good accountant/solicitor would advbise you to do this, we are talking relative peanuts.

SJ

[JimmyGreaves]

I see what you mean you mean Land Rent, not property rent. So I would assume the company just needs to write some documentation to allow a house to be built on the land and then charge a small annual rent. Solicitor is in order on this me thinks.

[Super Joe]

Exactly.
I sent you a PM a little while back I think along these lines with a local solicitor who really seems to know it all inside out, well at least compared to others.

Cheers,

SJ

[JimmyGreaves]

Exactly.
I sent you a PM a little while back I think along these lines with a local solicitor who really seems to know it all inside out, well at least compared to others.

Cheers,

SJ

Yes, They are my first port of call when I get back to HH in 4/5 weeks time. Again many thanks for helping me find the needle in a haystack!

[Spitfire]

SJ, I'm surprised you've not been offered an 'honorary position' of adviser by The Knights Templar yet.