Just read this in the Hua Hin Today which has thrown a spanner in my plans to buy a new car.
'NONRESIDENT foreigners legally cannot own a car, though some have bought a car anyway, got it registered, etc. The seller didn't object to receiving the money and filling out the paperwork, and the government offices didn't raise a red flag. The only foreigners who I've known to do this had a work permit and tax ID number. '
I have an OA visa and spend probably 4 months of the year in HH. It is possible that I could get a Work Permit but I don't want to.
Can I legally buy a new car?
Can my company legally buy a new car?
Buying A New Car In My Name - Illegal?
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JimmyGreaves
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Wanderlust
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As far as I am aware it is perfectly legal for 'non residents' to buy a car in their own name. By non resident I assume Hua Hin Today mean those on tourist visas and those who are on non immigrant visas but who go out of the country every 90 days; it is possible that the former cannot but I am sure the latter can as I checked this when I bought my car over 3 years ago. Every time I go to Pranburi to pay my car tax they will see my name in the blue book and they never say anything or check my passport either, and I was on a non immigrant O marriage visa when I bought the car. Maybe there is a difference when buying new or second hand however? I bought new, but I can't see why there would be a difference. I would imagine the person to ask on here would be tuktukmike as he seems to know stuff relating to vehicles; otherwise ask someone at your Embassy.
2 years ago I bought a second hand car. My name, no problem at all.
You need an address and 2 thai witnesses to prove that you live there.
At least so I was told by the police in HH.
The Motor Tax Office in Pran Buri however didn't care to have a look at the paper, so I guess you'll only need your yellow housebook.
You need an address and 2 thai witnesses to prove that you live there.
At least so I was told by the police in HH.
The Motor Tax Office in Pran Buri however didn't care to have a look at the paper, so I guess you'll only need your yellow housebook.
I intend to live forever - so far so good.
Re: Buying A New Car In My Name - Illegal?
JimmyGreaves wrote:
This may be an advantage if one day you do decide to actively trade/get work permit etc, as you can offset against your tax liability.
Burger
Yes, you can buy the new car under your company name, I did.Can my company legally buy a new car?
This may be an advantage if one day you do decide to actively trade/get work permit etc, as you can offset against your tax liability.
Burger
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JimmyGreaves
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Foreigners or foreign owned companys (49%) cannot get finance on new cars without a Thai guarantor. Tried with Honda, Mitsu, Toyota and Ford, none of which could speak Martian.
Foreigners can have a car in their name providing they have a non-imm visa and proof of address (bai lup lorng tee yuu asai) [sp] this is obtained from the owner of the house where you live affirming your residence there with the local police who will issue this letter.
Foreigners can have a car in their name providing they have a non-imm visa and proof of address (bai lup lorng tee yuu asai) [sp] this is obtained from the owner of the house where you live affirming your residence there with the local police who will issue this letter.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Jimmy,
I got finance with Ford on my car, through my company.
I'm sure they didn't ask for any shares documents or whatever, to see that it was a 49%/51% company!?
They were definately interested in the bank balance, and amount of funds coming into the company account over the past 6 months - That definately mattered to them.
Also, and maybe more valid was that we already had a Ford on finance with them, in my wife's name, which we traded in for the new one. Maybe that made a bit of difference with them ?
They wanted 20% deposit, and interest rate over 36 months is 3%.
Burger
I got finance with Ford on my car, through my company.
I'm sure they didn't ask for any shares documents or whatever, to see that it was a 49%/51% company!?
They were definately interested in the bank balance, and amount of funds coming into the company account over the past 6 months - That definately mattered to them.
Also, and maybe more valid was that we already had a Ford on finance with them, in my wife's name, which we traded in for the new one. Maybe that made a bit of difference with them ?
They wanted 20% deposit, and interest rate over 36 months is 3%.
Burger
If your wife owns the 51% of the company or she has had finance before she acts as the Thai guarantor, which goes back to my point that foreigners cannot do it alone.
All they want to know is that the Martian is not going to do a runner and leave unpaid debts. I offered 50% down and they still wouldnt finance without a Thai signature.
All they want to know is that the Martian is not going to do a runner and leave unpaid debts. I offered 50% down and they still wouldnt finance without a Thai signature.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
If your wife owns the 51% of the company or she has had finance before she acts as the Thai guarantor, which goes back to my point that foreigners cannot do it alone.
It must have been my wife's previous finance with Ford then that done the trick, as she owns 0.00% of the company
Sorry Jimmy, guess my situation is not much help to you then.
Burger
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JimmyGreaves
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Cheers Guys
For very useful informatiion. Now need to talk to an accountant to ask the question: 'if I pay for it outright is there any benefit with the company owning it'.
As your probably aware in the UK you are penalised via tax when you as an employee have the use of a company car, At the moment as the MD of my Thai company (49%) I do not have a work permit.
Any thoughts?
For very useful informatiion. Now need to talk to an accountant to ask the question: 'if I pay for it outright is there any benefit with the company owning it'.
As your probably aware in the UK you are penalised via tax when you as an employee have the use of a company car, At the moment as the MD of my Thai company (49%) I do not have a work permit.
Any thoughts?
Jimmy,
If you are going to run an active business, you must get yourself a work permit for your own protection, they're easy and cheap to obtain.
There are certain fields which a foreigner can not work in though, like bars, so you need to look up the government's list of banned fields.
If you are only going to run the company for house purchase, then in practice you do not need work permit to sign the account balance sheets etc, but in this case speak to a lawyer/accountant to make sure you're not pushing your luck putting the car on the company and using it. I guess like the house, it's a company asset that you will 'rent' back to yourself, and pay some tax on!?
Burger
If you are going to run an active business, you must get yourself a work permit for your own protection, they're easy and cheap to obtain.
There are certain fields which a foreigner can not work in though, like bars, so you need to look up the government's list of banned fields.
If you are only going to run the company for house purchase, then in practice you do not need work permit to sign the account balance sheets etc, but in this case speak to a lawyer/accountant to make sure you're not pushing your luck putting the car on the company and using it. I guess like the house, it's a company asset that you will 'rent' back to yourself, and pay some tax on!?
Burger