cmk
Crazy Mango
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Post by cmk on Feb 8, 2016 14:59:28 GMT 7
Johnathan Head did a video about a guy in Phuket who set up an illegal company - Limited Company nominee shareholders in a Thai company - and now the guys who he said ripped off the guy who set up the illegal company are suing. I met a fellow 10 years ago who had a number of house in Pattaya set up that way and he also had shoes 3 sizes too big and the toe part stuck out like he was a court jester or leprechaun or something like that. You know what I mean those pointy toed shoes and in America cowboys do the same thing with pointy toed boots.
Falang can't own land in Thailand and that's a fact and ways to contravene that fact will get you in trouble. Cuba also took over Coke in Cuba and all the casinos owned by the mob and do you think the Thai government is more honest than Cuba?
So if you have a Thai nominee company give it to your brotherinlaw and save yourself and wife the headache.
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Post by Soutpeel on Feb 8, 2016 15:18:24 GMT 7
Johnathan Head did a video about a guy in Phuket who set up an illegal company - Limited Company nominee shareholders in a Thai company - and now the guys who he said ripped off the guy who set up the illegal company are suing. I met a fellow 10 years ago who had a number of house in Pattaya set up that way and he also had shoes 3 sizes too big and the toe part stuck out like he was a court jester or leprechaun or something like that. You know what I mean those pointy toed shoes and in America cowboys do the same thing with pointy toed boots. Falang can't own land in Thailand and that's a fact and ways to contravene that fact will get you in trouble. Cuba also took over Coke in Cuba and all the casinos owned by the mob and do you think the Thai government is more honest than Cuba? So if you have a Thai nominee company give it to your brotherinlaw and save yourself and wife the headache. the simple fact is a lot of people get into this knowing exactly what the score is...so its more of case of "ya pays your money, and you take ya chance"the law is simple in this regard...setting up a Limited company for the express purpose of bypassing land ownership laws is illegal...and yes in theory the authorities could confiscate the lot.. A limited company which is trading can buy the property and it is fully legal to do so, but a "shelf company" set up solely to buy the property and get around the landownership laws is not... so the legality hinges on whether the Ltd company is an active trading company or not. |
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Post by rgs2001uk on Feb 8, 2016 15:21:04 GMT 7
Simple, dont play with fire and you wont get your fingers burned.
Wonder how many of those companies are paying taxes every year.
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Post by Deleted on Feb 8, 2016 15:25:56 GMT 7
Johnathan Head did a video about a guy in Phuket who set up an illegal company - Limited Company nominee shareholders in a Thai company - and now the guys who he said ripped off the guy who set up the illegal company are suing. I met a fellow 10 years ago who had a number of house in Pattaya set up that way and he also had shoes 3 sizes too big and the toe part stuck out like he was a court jester or leprechaun or something like that. You know what I mean those pointy toed shoes and in America cowboys do the same thing with pointy toed boots. Falang can't own land in Thailand and that's a fact and ways to contravene that fact will get you in trouble. Cuba also took over Coke in Cuba and all the casinos owned by the mob and do you think the Thai government is more honest than Cuba? So if you have a Thai nominee company give it to your brotherinlaw and save yourself and wife the headache. Broad brush statement and wrong. The Amity Treaty allows Americans to own one rai of land. There's also a major investor programme, requiring a 40 million baht investment, that allows land ownership. Outwith that, correct. A farang can't own land, a company that he controls can. 49% shareholding, 75% of the voting rights, I believe is the key. And, eh - actually trading as a company, a small but important fact that many overlook. The illegal nominee aspect is also interesting - if you have Thai business partners that work for the company then you'll have no problem. Using random names, potential problem. |
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Post by Deleted on Feb 8, 2016 15:28:56 GMT 7
Johnathan Head did a video about a guy in Phuket who set up an illegal company - Limited Company nominee shareholders in a Thai company - and now the guys who he said ripped off the guy who set up the illegal company are suing. I met a fellow 10 years ago who had a number of house in Pattaya set up that way and he also had shoes 3 sizes too big and the toe part stuck out like he was a court jester or leprechaun or something like that. You know what I mean those pointy toed shoes and in America cowboys do the same thing with pointy toed boots. Falang can't own land in Thailand and that's a fact and ways to contravene that fact will get you in trouble. Cuba also took over Coke in Cuba and all the casinos owned by the mob and do you think the Thai government is more honest than Cuba? So if you have a Thai nominee company give it to your brotherinlaw and save yourself and wife the headache. the simple fact is a lot of people get into this knowing exactly what the score is...so its more of case of "ya pays your money, and you take ya chance"the law is simple in this regard...setting up a Limited company for the express purpose of bypassing land ownership laws is illegal...and yes in theory the authorities could confiscate the lot.. A limited company which is trading can buy the property and it is fully legal to do so, but a "shelf company" set up solely to buy the property and get around the landownership laws is not... so the legality hinges on whether the Ltd company is an active trading company or not. Yup - the clever guys are buidling residences on resorts, with the resorts bringing in an income, and providing the necessary data to satisfy Thai company law. |
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Post by rgs2001uk on Feb 8, 2016 15:30:04 GMT 7
How many American do you know of who own 1 rai of land?
As far as I recall, the 40 million baht investment you talk of, needs to be signed off on, I have NEVER heard of it being signed off.
Way too many farangs masquerading over here as legal experts when it come to Thai law.
I avoid them all and want nothing to do with them.
Same goes for boiler room types.
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Post by Deleted on Feb 8, 2016 15:36:01 GMT 7
How many American do you know of who own 1 rai of land? As far as I recall, the 40 million baht investment you talk of, needs to be signed off on, I have NEVER heard of it being signed off. Way too many farangs masquerading over here as legal experts when it come to Thai law. I avoid them all and want nothing to do with them. Same goes for boiler room types. I know one - guy has been here for donkeys years and qualifies. You still need to qualify, its not an automatic right. www.siam-legal.com/Business-in-Thailand/US-Thai%20Amity.phpAs for the 40 million baht scheme, I don't know anyone who has used that programme. |
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Post by rgs2001uk on Feb 8, 2016 15:36:41 GMT 7
the simple fact is a lot of people get into this knowing exactly what the score is...so its more of case of "ya pays your money, and you take ya chance"the law is simple in this regard...setting up a Limited company for the express purpose of bypassing land ownership laws is illegal...and yes in theory the authorities could confiscate the lot.. A limited company which is trading can buy the property and it is fully legal to do so, but a "shelf company" set up solely to buy the property and get around the landownership laws is not... so the legality hinges on whether the Ltd company is an active trading company or not. Yup - the clever guys are buidling residences on resorts, with the resorts bringing in an income, and providing the necessary data to satisfy Thai company law. I wonder how many of those resorts are leasing the land as opposed to actually buying the land? As for resorts,  , take a trip round Thailand, heres one example, in Issan (yeah I know dont all laugh). 10 of those 300k baht wooden houses and 4 rai of land, total outlay, lets say, 5 million baht, for sale to you my friend for a measly 20 million, where do I sign up? |
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cmk
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Post by cmk on Feb 8, 2016 15:38:13 GMT 7
Johnathan Head did a video about a guy in Phuket who set up an illegal company - Limited Company nominee shareholders in a Thai company - and now the guys who he said ripped off the guy who set up the illegal company are suing. I met a fellow 10 years ago who had a number of house in Pattaya set up that way and he also had shoes 3 sizes too big and the toe part stuck out like he was a court jester or leprechaun or something like that. You know what I mean those pointy toed shoes and in America cowboys do the same thing with pointy toed boots. Falang can't own land in Thailand and that's a fact and ways to contravene that fact will get you in trouble. Cuba also took over Coke in Cuba and all the casinos owned by the mob and do you think the Thai government is more honest than Cuba? So if you have a Thai nominee company give it to your brotherinlaw and save yourself and wife the headache. Broad brush statement and wrong. The Amity Treaty allows Americans to own one rai of land. There's also a major investor programme, requiring a 40 million baht investment, that allows land ownership. Outwith that, correct. A farang can't own land, a company that he controls can. 49% shareholding, 75% of the voting rights, I believe is the key. And, eh - actually trading as a company, a small but important fact that many overlook. The illegal nominee aspect is also interesting - if you have Thai business partners that work for the company then you'll have no problem. Using random names, potential problem. Not true. I'm an American and have investigated the treaty. The land must be in conjunction with a business and not a home. If I was going to build a steel mill the treaty of Amity would be of some value not a single family home. The Americans who wrote the thing messed up and the Thais took advantage of them. |
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cmk
Crazy Mango
Posts: 704
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Post by cmk on Feb 8, 2016 15:40:31 GMT 7
How many American do you know of who own 1 rai of land? As far as I recall, the 40 million baht investment you talk of, needs to be signed off on, I have NEVER heard of it being signed off. Way too many farangs masquerading over here as legal experts when it come to Thai law. I avoid them all and want nothing to do with them. Same goes for boiler room types. I mentioned it before - avoid the guys with the pointy toed larger than life shoes. Never trust a guy who wears white shoes or pointy toed oversize shoes. I touched on it before the Falang who bought the homes in Phuket that Head was talking about got screwed - his wife forged his signature and a lawyer certified it. But it was his fault in the beginning for trying to get around the law. He would not have had a problem if he listened to me. So be warned by my lot (which I know you will not), An' learn about women from me! What did the Colonel's Lady think? Nobody never knew. Somebody asked the Sergeant's Wife, An' she told 'em true! When you get to a man in the case, They're like as a row of pins -- For the Colonel's Lady an' Judy O'Grady Are sisters under their skins! |
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Post by Deleted on Feb 8, 2016 15:43:30 GMT 7
Yup - the clever guys are buidling residences on resorts, with the resorts bringing in an income, and providing the necessary data to satisfy Thai company law. I wonder how many of those resorts are leasing the land as opposed to actually buying the land? As for resorts, , take a trip round Thailand, heres one example, in Issan (yeah I know dont all laugh). 10 of those 300k baht wooden houses and 4 rai of land, total outlay, lets say, 5 million baht, for sale to you my friend for a measly 20 million, where do I sign up? I know a Dutch guy that's been here for donkeys years, and this is exacty the business model he uses. He resides on the resort in a purpose built house. And when he gets the itch to move, he sells the resort at a premium. The guy has been in Thailand for twenty-odd years, and he's still a young man. |
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Post by Deleted on Feb 8, 2016 15:45:21 GMT 7
Broad brush statement and wrong. The Amity Treaty allows Americans to own one rai of land. There's also a major investor programme, requiring a 40 million baht investment, that allows land ownership. Outwith that, correct. A farang can't own land, a company that he controls can. 49% shareholding, 75% of the voting rights, I believe is the key. And, eh - actually trading as a company, a small but important fact that many overlook. The illegal nominee aspect is also interesting - if you have Thai business partners that work for the company then you'll have no problem. Using random names, potential problem. Not true. I'm an American and have investigated the treaty. The land must be in conjunction with a business and not a home. If I was going to build a steel mill the treaty of Amity would be of some value not a single family home. The Americans who wrote the thing messed up and the Thais took advantage of them. I posted the link later. What is unique under Amity is that the American can own the land - something barred to other nationalities. |
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cmk
Crazy Mango
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Post by cmk on Feb 8, 2016 15:48:25 GMT 7
Not true. I'm an American and have investigated the treaty. The land must be in conjunction with a business and not a home. If I was going to build a steel mill the treaty of Amity would be of some value not a single family home. The Americans who wrote the thing messed up and the Thais took advantage of them. I posted the link later. What is unique under Amity is that the American can own the land - something barred to other nationalities. Under what conditions may he own the land? There's the catch. You are only telling half the story that may get a person into trouble. www.bia.co.th/006.htmlUnder the Treaty, Thailand is permitted to apply the following restrictions to American and other foreign investment: owning land; engaging in the business of inland communications; inland transportation; fiduciary functions; banking involving depository functions; engaging in domestic trade in indigenous agricultural products; and exploiting land or other natural resources. www.sunbeltlegaladvisors.com/amity-registration/While exempt from many of these regulations, American businesses are restricted from doing the following: Owning land bangkok.usembassy.gov/business_faq.html |
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Post by rgs2001uk on Feb 8, 2016 15:51:41 GMT 7
How many American do you know of who own 1 rai of land? As far as I recall, the 40 million baht investment you talk of, needs to be signed off on, I have NEVER heard of it being signed off. Way too many farangs masquerading over here as legal experts when it come to Thai law. I avoid them all and want nothing to do with them. Same goes for boiler room types. I mentioned it before - avoid the guys with the pointy toed larger than life shoes. Never trust a guy who wears white shoes or pointy toed oversize shoes. I touched on it before the Falang who bought the homes in Phuket that Head was talking about got screwed - his wife forged his signature and a lawyer certified it. But it was his fault in the beginning for trying to get around the law. He would not have had a problem if he listened to me. So be warned by my lot (which I know you will not), An' learn about women from me! What did the Colonel's Lady think? Nobody never knew. Somebody asked the Sergeant's Wife, An' she told 'em true! When you get to a man in the case, They're like as a row of pins -- For the Colonel's Lady an' Judy O'Grady Are sisters under their skins! Loving those, 30+30+30 year leases I see advertised. Never trusted those guys with their Jamie Oliver haircuts, cheap ill fitting suits, and their tattooeed bling laden translator. |
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cmk
Crazy Mango
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Post by cmk on Feb 8, 2016 16:19:52 GMT 7
I mentioned it before - avoid the guys with the pointy toed larger than life shoes. Never trust a guy who wears white shoes or pointy toed oversize shoes. I touched on it before the Falang who bought the homes in Phuket that Head was talking about got screwed - his wife forged his signature and a lawyer certified it. But it was his fault in the beginning for trying to get around the law. He would not have had a problem if he listened to me. So be warned by my lot (which I know you will not), An' learn about women from me! What did the Colonel's Lady think? Nobody never knew. Somebody asked the Sergeant's Wife, An' she told 'em true! When you get to a man in the case, They're like as a row of pins -- For the Colonel's Lady an' Judy O'Grady Are sisters under their skins! Loving those, 30+30+30 year leases I see advertised. Never trusted those guys with their Jamie Oliver haircuts, cheap ill fitting suits, and their tattooeed bling laden translator. I agree completely. Let your wife buy the house and land and help her make payments. If the wife can't get credit to purchase get another wife. |
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, take a trip round Thailand, heres one example, in Issan (yeah I know dont all laugh).
