Listen to Tuktukmike or whatever he's called.
Seems like a voice with reasoning!
Foreigners can no longer buy houses in Thailand via company.
Re: Property.
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JimmyGreaves
- Legend
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- Joined: Mon Oct 17, 2005 5:06 am
- Location: HuaEireHin
Re: Property.
There are many contributors on the forum with there own slant on reasoning. At the end of the day opinions and arguments to issues differ. Excellent, good, not so good and some poor advice from us all. On this subject I do not agree fully with the quote!Onlyme wrote:Listen to Tuktukmike or whatever he's called.
Seems like a voice with reasoning!
Re: Property.
Onlyme wrote:Listen to Tuktukmike or whatever he's called.
Seems like a voice with reasoning!
quote of the week i feel.
quassic
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hunterroute
- Novice
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- Location: Hua Hin + wherever I want to be
- Contact:
It's the quote of the week, Splitlid, cause TTM isn't involved in this real-estate shit where some guys are trying to sale fake-ownerships.
Everybody with a working brain should got it already, that investments are worthless without a legal title to property on investor's name!
Forget this 49:51 bullshit, or making missus rich...not everybody is a fool!
I wouldn't laugh too loud mate!
Everybody with a working brain should got it already, that investments are worthless without a legal title to property on investor's name!
Forget this 49:51 bullshit, or making missus rich...not everybody is a fool!
I wouldn't laugh too loud mate!
I'm getting pretty jacked off with all of this bullshit.
This section is supposed to be a guide for people considering investing, not a slanging match between those that have done it and those that wont.
Opinion is all well and good but we don't need it rammed down our throats. Everyone has their own personal situation which differs from everyone else so theres no way we're all going to agree.
Please, can we have solid information and fact to be posted from now on, I for one am interested in the subject but reading this just seems like 14 pages of squabbling kids trying to get one up on each other.
Rant over.
This section is supposed to be a guide for people considering investing, not a slanging match between those that have done it and those that wont.
Opinion is all well and good but we don't need it rammed down our throats. Everyone has their own personal situation which differs from everyone else so theres no way we're all going to agree.
Please, can we have solid information and fact to be posted from now on, I for one am interested in the subject but reading this just seems like 14 pages of squabbling kids trying to get one up on each other.
Rant over.
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
Well said, Buksida!
Unfortunately, the starting positions are too different, so that "neutral" information is hard to get.
On one side the real estate agents (especially the newcomers) who thought of having discovered an easy way to earn fast money for a comfortable lifestyle; some of these gentlemen even without any morality in view of their customers.
Then those private people, which have already invested, and are unsafe now...still hoping all will be good again someday.
In addition people like me, who would invest with pleasure, but certainly not under so confusing regulations.
...And in the end those which leave their fingers completely from any Thai investments and, of course, feel themselves confirmed now.
All these groups will try to sample and publish information/opinions (sometimes even "fake"-information) to make their position more reliably.
Unfortunately, official information is coming droplet-wise only... and mostly not clear enough...this complicates the thing.
You see even officials are completely confused in the moment.
For every lawyer or official that is involved in this real-estate business and says all is good, another one is easy to find which warns and declines.
Let us hope, that clear guidelines will be published soon, right?
My personally opinion: I doubt this, especially in Thailand!
Unfortunately, the starting positions are too different, so that "neutral" information is hard to get.
On one side the real estate agents (especially the newcomers) who thought of having discovered an easy way to earn fast money for a comfortable lifestyle; some of these gentlemen even without any morality in view of their customers.
Then those private people, which have already invested, and are unsafe now...still hoping all will be good again someday.
In addition people like me, who would invest with pleasure, but certainly not under so confusing regulations.
...And in the end those which leave their fingers completely from any Thai investments and, of course, feel themselves confirmed now.
All these groups will try to sample and publish information/opinions (sometimes even "fake"-information) to make their position more reliably.
Unfortunately, official information is coming droplet-wise only... and mostly not clear enough...this complicates the thing.
You see even officials are completely confused in the moment.
For every lawyer or official that is involved in this real-estate business and says all is good, another one is easy to find which warns and declines.
Let us hope, that clear guidelines will be published soon, right?
My personally opinion: I doubt this, especially in Thailand!
Why do you say that onlyme?
I'm a UK property person by profession and have been advising professional investors for 35 years. What do you do?
I have found the discussions on property ownership interesting and am suprised there is so much crap spoken on these threads by people who know little.
It doesn't take much to investigate the situation with the use of the internet. If people don't want to face up to the truth that's their problem. Me, I like to make financial decisions based on fact and the law because I never know when the time is right to move on. Burying my head in the sand has never struck me as a good solution.
Anyway, my only reason for posting was that a few people have posted on this site and seemed to be unsure of the situation because of all the "wished" for outcomes of various posters (those having "bought" already I guess) whereas I don't have an axe to grind.
Pays yer money and takes yer choice. I'm not going to post any more, as they say, the truth hurts and I don't want to be an unnecessary cause of oit.
I'm a UK property person by profession and have been advising professional investors for 35 years. What do you do?
I have found the discussions on property ownership interesting and am suprised there is so much crap spoken on these threads by people who know little.
It doesn't take much to investigate the situation with the use of the internet. If people don't want to face up to the truth that's their problem. Me, I like to make financial decisions based on fact and the law because I never know when the time is right to move on. Burying my head in the sand has never struck me as a good solution.
Anyway, my only reason for posting was that a few people have posted on this site and seemed to be unsure of the situation because of all the "wished" for outcomes of various posters (those having "bought" already I guess) whereas I don't have an axe to grind.
Pays yer money and takes yer choice. I'm not going to post any more, as they say, the truth hurts and I don't want to be an unnecessary cause of oit.
Thai me to the moon
squabbling
Buksida is right.
Perhaps the mods can chuck out the pissing matches and allow only proper information from now on, otherwise a waste of bandwidth.
Perhaps the mods can chuck out the pissing matches and allow only proper information from now on, otherwise a waste of bandwidth.
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tuktukmike
- Guru
- Posts: 728
- Joined: Mon Apr 18, 2005 1:02 am
In light of todays announcement i have been watching for responses to this issue.
Others including myself have taken a huge amount of flak from the real estate/developers on this subject, why so quiet today as they have been on line and not posted. was this the announcement we were all promised a week ago?.
I posted last year that things were going to change and got shouted down for my remarks on this issue, I attended the Majestic meeting yet others who never bothered to attend knew better.
I as others on this forum were labelled scare mongers and knew nothing of current events, Meetings that had taken place but with no concrete fact.
Myself and others were turned into the bad guys on this subject and guess by who, real estate members of which have chosen not to post on such an important matter. You could hear a pin drop today.
Does any of this make me feel good?. NO.
This affects all of us living here in whatever we do.
I spoke to the Embassy yesterday and at last they are going to have a meeting to consider giving a warning on their web site about land ownership, as soon as Kate gets back to me i will post their response.
Mike.
Others including myself have taken a huge amount of flak from the real estate/developers on this subject, why so quiet today as they have been on line and not posted. was this the announcement we were all promised a week ago?.
I posted last year that things were going to change and got shouted down for my remarks on this issue, I attended the Majestic meeting yet others who never bothered to attend knew better.
I as others on this forum were labelled scare mongers and knew nothing of current events, Meetings that had taken place but with no concrete fact.
Myself and others were turned into the bad guys on this subject and guess by who, real estate members of which have chosen not to post on such an important matter. You could hear a pin drop today.
Does any of this make me feel good?. NO.
This affects all of us living here in whatever we do.
I spoke to the Embassy yesterday and at last they are going to have a meeting to consider giving a warning on their web site about land ownership, as soon as Kate gets back to me i will post their response.
Mike.
After the official publication of the "new" company-rules yesterday, it seems to be clear that the "happy days" are over.
http://www.huahinafterdark.com/forum/vi ... php?t=4094
As Caller wrote in that thread, there are many unanswered questions now.
It should be possible to read/hear in the next days, weeks or even months how hard the authorities will realize these new rules, and in which way they'll treat companies with foreigner shareholders from 15th of August.
We all should keep our eyes and ears opened!
http://www.huahinafterdark.com/forum/vi ... php?t=4094
As Caller wrote in that thread, there are many unanswered questions now.
It should be possible to read/hear in the next days, weeks or even months how hard the authorities will realize these new rules, and in which way they'll treat companies with foreigner shareholders from 15th of August.
We all should keep our eyes and ears opened!
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tuktukmike
- Guru
- Posts: 728
- Joined: Mon Apr 18, 2005 1:02 am
For the record.
Anyone who has bought through the company route must keep all records as to who sold you the property.
You will need to know who advised you that this was a legal route, ie developer/real estate agent/lawyer.
Try and find out as many facts on the people you dealt with for future reference.
This way may help you in mitigating curcumstances should you find yourself with a problem with your purchase
If you feel that in any way you were misinformed you can contact your local tessa bahn.
Mike.
Anyone who has bought through the company route must keep all records as to who sold you the property.
You will need to know who advised you that this was a legal route, ie developer/real estate agent/lawyer.
Try and find out as many facts on the people you dealt with for future reference.
This way may help you in mitigating curcumstances should you find yourself with a problem with your purchase
If you feel that in any way you were misinformed you can contact your local tessa bahn.
Mike.
I've read with interest the many varied opinions and concerned on the subject .
I've not seen any mention of certain developments of detached houses built and registered as condominiums, all on 'common' land and run by a Juristic Person just like an Apartment Block.
It seems to me that this is a perfectly legitimate method of owning a 2 Story detached condominium that sits on the ground. The only law covering this is the 49% maximum foreign ownership of the units.
Anyone have any experiece, knowledge or opinion on these?
Winkie
I've not seen any mention of certain developments of detached houses built and registered as condominiums, all on 'common' land and run by a Juristic Person just like an Apartment Block.
It seems to me that this is a perfectly legitimate method of owning a 2 Story detached condominium that sits on the ground. The only law covering this is the 49% maximum foreign ownership of the units.
Anyone have any experiece, knowledge or opinion on these?
Winkie
Re: the 40% foreign shareholder companies:
This is nothing new, any reading of this as a sign that the government are trying to crackdown on the 'average foreigner' trying to buy a holiday home is ill-informed.
Fact is, most decent lawyers (Bangkok, not Hua Hin) already set up your company 39%/61%, this has been in practice for ages. The 39% was due to a government rule in place for ages about Bangkok Central Land office being able to investigate, if it wishes, land owned by more than 40% foreign sharehold companies.
See link "Practice of the Land Department" http://www.bia.co.th/011.html
See link "1. Thai Land Law: http://www.ethailand.com/index.php?id=1784
See link Hua Hin Today http://www.huahintoday.net/index.php?ac ... story&id=6
See link re: 'Normal Practice in Pattaya: http://www.coolthaihouse.com/artownership.htm
See link hlaf way down under "Create a majority Thai owned company" http://buildingthailand.com/
See link to HH Real Estate http://www.huahinpropertycentre.com/lan ... p-laws.htm
See link another HH real estate http://th-property.com/PropertyLaws.asp?js=2f
See link Bangkok real estate http://www.bangkokrealty.biz/buying.htm
It's nothing new chaps if you had received decent advice, I think the problem is the lack of decent advice we receive here in HH and people who have never bought properties and gone through the process scaremongering (love you really Mike
)
When we all understand that the government induced company set up is a 39%/61% structure, we can all see what nonsense it is to suggest that the government are trying to cut down on us when they make their new rule at 1% above that of 39%. Think about it.
This along with the land office permitting registering land under 1 Rai to average homebuyers, is positive sign. Why allow land registry again if they want to stop it ?
Re: Investigating existing companies, they have made it clear recently who they are targetting with statements about foreign developers/money launderers and their actions against Shin Corp and the Samui company.
Funny how they didn't start with Mr & Mrs Smith to see the legality of their 3M bungalow funds and how much of it was laundered.
Once again this all goes back to the point about seeking proper legal advice, if you want to save some Baht and go to the local shopping mall lawyers then you should know what you're letting yourself in for.
Facts are as it stands:
1) The land office are now (after seeking clarification from central government about their statement from 25th May) registering land under 1 Rai but ONLY asking for shareholder details for OVER 1 Rai (ie: stopping developers) - I've done one this week so I know it's true. After all the recent debate/uncertaintity a clear sign of what the government wants.
2) Ministry of commerce do not have any restrictions on a foreign company with 39% shareholding, again I've done two this week so know it true.
Burger
This is nothing new, any reading of this as a sign that the government are trying to crackdown on the 'average foreigner' trying to buy a holiday home is ill-informed.
Fact is, most decent lawyers (Bangkok, not Hua Hin) already set up your company 39%/61%, this has been in practice for ages. The 39% was due to a government rule in place for ages about Bangkok Central Land office being able to investigate, if it wishes, land owned by more than 40% foreign sharehold companies.
See link "Practice of the Land Department" http://www.bia.co.th/011.html
See link "1. Thai Land Law: http://www.ethailand.com/index.php?id=1784
See link Hua Hin Today http://www.huahintoday.net/index.php?ac ... story&id=6
See link re: 'Normal Practice in Pattaya: http://www.coolthaihouse.com/artownership.htm
See link hlaf way down under "Create a majority Thai owned company" http://buildingthailand.com/
See link to HH Real Estate http://www.huahinpropertycentre.com/lan ... p-laws.htm
See link another HH real estate http://th-property.com/PropertyLaws.asp?js=2f
See link Bangkok real estate http://www.bangkokrealty.biz/buying.htm
It's nothing new chaps if you had received decent advice, I think the problem is the lack of decent advice we receive here in HH and people who have never bought properties and gone through the process scaremongering (love you really Mike
)When we all understand that the government induced company set up is a 39%/61% structure, we can all see what nonsense it is to suggest that the government are trying to cut down on us when they make their new rule at 1% above that of 39%. Think about it.
This along with the land office permitting registering land under 1 Rai to average homebuyers, is positive sign. Why allow land registry again if they want to stop it ?
Re: Investigating existing companies, they have made it clear recently who they are targetting with statements about foreign developers/money launderers and their actions against Shin Corp and the Samui company.
Funny how they didn't start with Mr & Mrs Smith to see the legality of their 3M bungalow funds and how much of it was laundered.
Once again this all goes back to the point about seeking proper legal advice, if you want to save some Baht and go to the local shopping mall lawyers then you should know what you're letting yourself in for.
Facts are as it stands:
1) The land office are now (after seeking clarification from central government about their statement from 25th May) registering land under 1 Rai but ONLY asking for shareholder details for OVER 1 Rai (ie: stopping developers) - I've done one this week so I know it's true. After all the recent debate/uncertaintity a clear sign of what the government wants.
2) Ministry of commerce do not have any restrictions on a foreign company with 39% shareholding, again I've done two this week so know it true.
Burger