SingaporeSteve Posted February 9, 2003 Report Share Posted February 9, 2003 My understanding is that the limited company option is the safest way for a foreigner to acquire land and hold it fully under their control. I have heard talk about leases but do not know anyone who has done it themselves although I remember it seemed a popular option when I looked at buying in Koh Samui. Is a limited company a safe bet? who really knows as their is I believe an issue with using nominee shareholders however Siam Commercial Bank was happy enough to lend me money to buy mine that way so I assume that they must be quite relaxed about it. However they were insistent on checking all the land registration details and Chanot. Cheers Link to comment Share on other sites More sharing options...
Guest Posted February 10, 2003 Report Share Posted February 10, 2003 "Is a limited company a safe bet? " I think it's technically illegal as the company has to be trading and one set up purely for the purposes of purchasing a house would not be. It all depends on whether or not they want to enforce the law, which they don't seem to do at this moment in time, but who knows about the future. Link to comment Share on other sites More sharing options...
Guest Posted February 10, 2003 Report Share Posted February 10, 2003 Showtime, Check these websites - www.thailandguru.com http://www.thaivisa.com/ http://www.pattayaexpatsclub.com/ You'll find info there... Link to comment Share on other sites More sharing options...
SingaporeSteve Posted February 11, 2003 Report Share Posted February 11, 2003 I understand I have to submit a set of accounts showing minimal trading activity to satisfy that requirement. My lawyer has asked me for some house related receipts (furniture etc) so that he can do the submission. So technically it is a working company. Cheers Link to comment Share on other sites More sharing options...
Bembaman Posted February 20, 2003 Report Share Posted February 20, 2003 I think i am somewhere near the mark in saying that if you are bringing 40 million baht or more into Thailand you can own 1 rai of land for the purposes of building a domestic house you intend to live in. Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2003 Report Share Posted February 20, 2003 According to my info, you can own the house but not the land, but only if you have a resident permit. (permanent) I'm waiting for my resident permit to be requested on the end of this year, after having 3 consecutive, in Thailand supplied 1 year visa's. That's the criteria according to emigration in Suanplu. Link to comment Share on other sites More sharing options...
steffi Posted February 21, 2003 Report Share Posted February 21, 2003 How does it work for "proper" condos? ie. Something in a high rise that's like western condos or a Highrise in Pattaya with a view? I'm talking about stuff about 100+ sqm Can you own those outright? Link to comment Share on other sites More sharing options...
Guest Posted February 24, 2003 Report Share Posted February 24, 2003 Whats the point of owning a house on someone elses land? Sort of defeats the purpose doesn't it? SB Link to comment Share on other sites More sharing options...
Guest Posted February 25, 2003 Report Share Posted February 25, 2003 >Whats the point of owning a house on someone elses land? >Sort of defeats the purpose doesn't it? Even in the West there are houses that are built on leased land. For many people this does not matter, as long as the lease is long and solid enough. With modern construction techniques most houses will be uninhabitable and not worth repairing even in a couple of decades, not to mention 99 years. However, my understanding is that in Thailand the lease agreement might often unexpectedly be not as solid as you thought... Wagner Link to comment Share on other sites More sharing options...
Guest Posted February 26, 2003 Report Share Posted February 26, 2003 But what is the point of buying the house and not owning the land underneath it? What happens if you want to expand the house footprint on the land you have leased of the owner? For me I would never buy a house on leased land.....just does not seem a worthwhile investment.....Each to their own!!! SB. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.