Nervous_Dog Posted March 12, 2004 Report Share Posted March 12, 2004 <<I suspect JB that the Thai gentleman might have been trying to purchase your flat when he had absolutely no residency status to allow him to do so - if he knew about the Foreign Investment exemptions for buying a new development, and it seems he did, then he would have almost certainly have known too, that just like LOS, a foreigner just can't walk in a conveniently lay off millions of dollars offshore without barriers - think that it's called money-laundering! >> Nah, neither of us knew about the various rules until my lawyer in Aus told me about it. They can buy "Off The Plan" ie unfinished projects, or new units, but can't buy anything 2nd hand. Was a bit of a learning experience actually, as many people complain about the Thai laws stopping ownership, not realizing, (Like me) that their own countries stop this as well. JB Link to comment Share on other sites More sharing options...
think_too_mut Posted March 12, 2004 Report Share Posted March 12, 2004 >Nah, neither of us knew about the various rules until my lawyer in Aus told me about it. They can buy "Off The Plan" ie unfinished projects, or new units, but can't buy anything 2nd hand. It's a well known fact that foreigners can only buy in new developments in Oz. Many Americans got disappointed during the Olympics that they could not buy houses they liked from real estate agencies' windows. In Thai, it was posted here before, one of the ways to get a 1 year visa is also to buy in a new development and above 2 million baht. Link to comment Share on other sites More sharing options...
haltest Posted March 13, 2004 Report Share Posted March 13, 2004 It's 3 million baht or more.... Link to comment Share on other sites More sharing options...
sidsanuk Posted March 13, 2004 Author Report Share Posted March 13, 2004 Thanks for the responses guys. Renting first might be the best idea. Although we can buy, as my wife is Thai and we can buy in her name. Sid Link to comment Share on other sites More sharing options...
SingaporeSteve Posted March 15, 2004 Report Share Posted March 15, 2004 Why dont you consider buying a place on the Eastern Seaboard and rent it out short term to the numerous expats looking for places for 3-6 months as the likes of GM, BMW etc are always bringing people over on short term engagements. Choose in the right area and you are a 75 minute drive from Silom, you can buy a 4/5 bedroom expat standard house with pool on one rai of land for about 8,500,000. Your Thai company can get a mortgage on it and own it and then offset a heap of the expenses. You would generate an income on that house of 100,000 per month MINIMUM for each month you rent it out. You could also lease a car and charge it to your company thus minimising any corporation tax you would pay on the rental income. The management company for the development charges you 5,000 baht a month maintenance fee and deals directly with your tennants, collects the rent and places it into your account every month. This is a very high end development that I am talking about with just 8 large houses set on 6 Rai of land. You could also buy a smaller house for between 4,000,000 and 7,000,000 baht depending upon land size and size of the house. Monthly income would be pro-rata's down accordingly as these would not generate as high an income. The land and house is YOURS to do with what you want - you could leave it empty if you chose to but its a very attractive income generator if you have the capability to do it. Link to comment Share on other sites More sharing options...
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