lopburi3 Posted November 20, 2003 Report Share Posted November 20, 2003 Get the land in YOUR name, not a shell company or the gf. Not true. You will get the same right to lease land owned by a company and be obligated to build a 20 million baht home on it. You will not own any land. As in all contracts read that fine print. :: Link to comment Share on other sites More sharing options...
Whitney Posted November 20, 2003 Report Share Posted November 20, 2003 Soi 10 shows how someone with connections or money can move at their pace and make things happen, with no one stepping in to stop it. It would seem very easy for someone or official to bend the rules in their favor to seize land just as easily. The destruction of Soi 10 block was done in such a rapid way, and on a large scale, in my opinion, I would not invest large amounts of money in any country that lacks true stability. Link to comment Share on other sites More sharing options...
racha Posted November 20, 2003 Report Share Posted November 20, 2003 lopburi3, That is the way I read it also, in this case the actual owner of the land would be the Thai Government, Link to comment Share on other sites More sharing options...
think_too_mut Posted November 20, 2003 Author Report Share Posted November 20, 2003 >It would seem very easy for someone or official to bend the rules in their favor to seize land just as easily. Again, I understand what you are saying. I would not invest any considerable sum in Thailand. About Soi 10: The guy reclaimed his own land, did not seize other people's land. It was leased to someone who subleased it to many different tenants and it was impossible to get rid of them one by one. In absence of more civilised regulations, he did whatever it took to get his land back. As we saw after that, his right of ownership has been honoured, nobody tried to reinstall businesses of previous tenants. I doubt a farang would ever be that bold but fundamentals here are still in place: the guy owns the land and he got it back to do whatever he wants with it. Even let it idle for a year in one of most expensive locations in BKK. As you see, the land is not being taken away from the owner, the land came back to it's legal owner. Link to comment Share on other sites More sharing options...
Guest Posted November 20, 2003 Report Share Posted November 20, 2003 To all the reseachers .................... Brilliant again guys ............. no doubt the board members here have the intincts of Sherlock Holmes and the eagle eye of a Philadelphia lawyer. Once again, if you want the real facts............check here first. Thanks all. Link to comment Share on other sites More sharing options...
SingaporeSteve Posted November 20, 2003 Report Share Posted November 20, 2003 I loved this comment: ""I'm not here for the free spas or to play golf. I'm not here to do anything else besides getting involved with meeting higher level government officials," he said. "That's the reason for (buying the card). It shows we're committed." The guy should save his money and just make an appointment with one of the top law firms in BKK - then he will end up meeting the powers that be in terms of influence (& I can think of just one law firm where one of main partners is Taksins "trusted expert" that he puts into poorly performing state organisations.) By the way, the Elite desks at the immigration look really nice - shame they dont have any staff manning them !!!! A good idea poorly implemented is my take on this - the fundamental issue is that Thai's do not want anybody having legal foreign ownership and I dont see anything or anyone changing that in the short-term. Cheers Link to comment Share on other sites More sharing options...
bigal Posted November 20, 2003 Report Share Posted November 20, 2003 The Bkk Post said, "the visa will be good for 5 years" The way time flys that's short time. There are other ways to buy and control land, without the GF screwing you out of it. Good idea is to see a good lawyer and save the 25 big ones. In the mean time it looks like the panic has set in gold $400/, platium $780, be careful! :: Link to comment Share on other sites More sharing options...
Guest Posted November 20, 2003 Report Share Posted November 20, 2003 the actual owner of the land would be the Thai Government I don't know anything about this thing, but is the government as owner really a negative? Even in other countries like the USA, technically the government owns the land and the person who thinks they own it is no more than a tenant. Stop paying property taxes? The government takes it away. Government wants to put a road there? They take it away. Find a marijuana plant on it? The government takes it away. And so on with some of these cases no reimbursement to the owner for "their" land. Link to comment Share on other sites More sharing options...
soongmak Posted November 20, 2003 Report Share Posted November 20, 2003 I think this program is just a scam. You don't owe the land, because that is still outlawed. What they do is purchase the land for you and hold it in your name until landownership is legal (which may never happen). To quote the website of thailand elite: During the period that there is no law supporting the Land Privileges, the Company, at the request of the Member, may consider to buy a land designated by the Member and at the expenses of the Member and make arrangement with Member so that the Member has full right to use the land until the Land Privilege is allowed by law. In this connection, the Company shall be entitled to an ownership of such land. The specific details of the terms and conditions of these arrangements shall be set out in the land arrangement agreement to be entered into between the Company and the Member. You can read iit for yourself on thailandelite.com I think it's a safer bet to set up your own company than to be at the mercy of a company you do not control. Cheers, soongmak Link to comment Share on other sites More sharing options...
Guest Posted November 20, 2003 Report Share Posted November 20, 2003 In this connection, the Company shall be entitled to an ownership of such land. Ahh, so this company is the owner. So I think I have this straight now. You pay 1 million baht to become "elite", which really means you have the privelidge of buying land for this company and at the same time guaranteeing you will upgrade the land with a >20 million baht structure. Geez, who is going to stupid enough to do this? Link to comment Share on other sites More sharing options...
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