buffalo_bill Posted August 4, 2009 Report Share Posted August 4, 2009 Gentlemen , owning your own house is a basic human instinct even stronger than boomboom oder collecting stamps . If you manage to let somebody have the feeling that it is easy to buy a place in the sun under a coconut tree and at a damned low price in comparison to falang country it does not take much effort to get the signature . In greater Phuket area they are selling townhouses for a million sometimes , there are people buying them . I almost get a heart attack when I see that . Location is really all that matters , I used to sell to holiday people til last year . Many of those get damned silly when the sun is shining . Link to comment Share on other sites More sharing options...
cavanami Posted August 4, 2009 Report Share Posted August 4, 2009 Today in the BK newspaper (one of them), front page the Thai whatever ministry was investigating farang companies buying land...yes, I am too lazy to post a link, but saw it on the front page. Link to comment Share on other sites More sharing options...
Ckrisg Posted August 4, 2009 Report Share Posted August 4, 2009 I know one or two people who do it, although I think they vere towards pragmatism on the legal side of things. Cheers Tell us more?? the OP needs to know Link to comment Share on other sites More sharing options...
The_Munchmaster Posted August 4, 2009 Report Share Posted August 4, 2009 Yes, a farang can develop property in LOS, but for that he needs land and a farang can't own land. So either he has to have a Thai partner to buy the land or he has to buy the land through his own company with nominee Thai shareholders, which is illegal. I know a farang who with some others is doing a development in Hua Hin but I don't know how they are handling the land or other legal issues. Probably with their wives as partners. Link to comment Share on other sites More sharing options...
buffalo_bill Posted August 4, 2009 Report Share Posted August 4, 2009 Serious developers would not gamble with Thai property laws ( neither would BuBi ) but would for example let a Thai subject surface as the local dealmaker and same Thai subject would offer offshore funds to make developers feel safe .Etcetera . This kind of structures would not appear on a Thai forum or elsewhere . Link to comment Share on other sites More sharing options...
ozpharlap Posted August 4, 2009 Report Share Posted August 4, 2009 There are avenues where you can buy it in a foreign based company registered in Thailand however, your up front expenditure needs to be 40,000,000 baht minimum, and the supply of other associated documentation. Link to comment Share on other sites More sharing options...
ThaiHome Posted August 5, 2009 Report Share Posted August 5, 2009 I think the most common setup is a family (or company) that owns property sets up a joint venture with a foreign developer. Best example would be TCC Capital Land, a joint venture of TCC (Charoen Sirivadhanabhakdi ) and Capital Land out of Singapore. Certainly the field is tilted in favor of the bigger companies. Many years ago there was a member here who built and sold/rented houses in the Pattaya area. I think he concentrated in the Maprachan Reservoir area where the more well off Thais and expats live. Can’t recall his name and he has been gone for a long time. Personally I think the OP may be about 2 years late to start doing this. Lots of little developments in Pattaya sitting empty right now. Resort areas tend to be hit the hardest in times like these. TH Link to comment Share on other sites More sharing options...
expat Posted August 5, 2009 Author Report Share Posted August 5, 2009 Thanks for all the advice. Essentially what I'm hearing is it's not legal for a foreign company to do property development in Thailand (though it may be possible for larger companies). Link to comment Share on other sites More sharing options...
buffalo_bill Posted August 5, 2009 Report Share Posted August 5, 2009 To implant major amounts of cash into a legally unsafe country like Thailand appears not to be very advisable for normal citizen . Unless you are BMW , Seagate or other where papers have been signed by the government . Therefore using a bank as filter in whichever way sounds more promising , I am working on a suitable layout right now . It needs local advice for sure . The property market works in waves like pilot training at airlines . In times of depression nobody needs them , 2 years later the companies get crazy finding any because they stopped finding new entries . It is a lottery Link to comment Share on other sites More sharing options...
Ckrisg Posted August 5, 2009 Report Share Posted August 5, 2009 If it was easy and legal for farangs to own land and property develop, Thailand would be overrun with English second homers and developers fuc.... it up for everyone else same same UK, and Europe east and west Link to comment Share on other sites More sharing options...
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