Buying house in thailand under foreigner name

[fleaz]

Originally Posted by naemlo

Let me assure u, u will trust your pet dog more than Thai friends.

cannot like that say lah, cannot 1 stick overturn whole boat of people
there are real and genuine nice thai people out there also, especially in the upcountry
i myself have a few close trusted thai friends who guided and help me a lot when i just came here
but in the end whats important ownself needs to be able to tell the pig dog friend from the genuine ones

[naemlo]

Originally Posted by fleaz

i myself have a few close trusted thai friends who guided and help me a lot when i just came here

Guiding or cheonging vs trusting them with millions THB are totally different but if u can get good friends then good for u. Most friends will not be friend when money is involved.

[fallen11]

Originally Posted by naemlo

10% is for locals.... foreigner varies from 10-30% depending on developer.



All companies need 51% Thais but BOI approved company can be 100% foreign owned. BTW, If u know how an actual XXX co. ltd. works then it is stupid to incorp a dummy corp.

BOI approval only allows foreign companies in certain new industries, like biotech, AI, etc. Not for investment / real estate holding company. And nowadays thai govt scrutinize foreign companies more. Last time no questions asked after company is formed properly. Now occasionally will have govt people question about foreign ownership and control of companies in thailand, even if 51% thai owned.

[fallen11]

Originally Posted by fleaz

base on my understanding

condo ownership for foreigner only limited to certain area and development, not all condo (correct me if im wrong)

land/house ownership for foreigner not possible,
option 1 - buy under wife name. (and pray hard she dun sell n run away )
option 2 (know a few retired farang doing this) - buy under trust able thai friend name and get lawyer to make a legal 99 year rental lease agreement, terms should protect foreigner

No foreigner can lease a land for > 30 yrs in thailand.
Maybe in future. Military govt looking to extend the max lease to foreigners / foreign companies. Being military govt, it should pass parliament without much problems. Question is when will they pass this law?

I also offer property tour + transport (normal jap car). $500 fee
Somemore is girl drive and tour u around. hahahahhaha
i act as agent only.

[naemlo]

Originally Posted by fallen11

BOI approval only allows foreign companies in certain new industries, like biotech, AI, etc. Not for investment / real estate holding company. And nowadays thai govt scrutinize foreign companies more. Last time no questions asked after company is formed properly. Now occasionally will have govt people question about foreign ownership and control of companies in thailand, even if 51% thai owned.

Of cause, I am not talking about those prohibited businesses like farming, etc.

I am sharing, there are business which foreigner can engage and own 100% instead of your info, 51/49. How I know about all these are not hear, say, read online, asked in a forum. I went thru personally incorp of a company and purchasing of property with my lawyer. To boast a bit, I incorp companies and ran the business operation in Vietnam, Indo, Cambodia too so whatever nonsense in each country, I also know.

Thai govt scrutinize companies due to lots of dummy, improper companies. My business in Thailand, submit yearly audited account, pay corp tax. Submit VAT, employee SS, income tax, withholding tax monthly... till now no one comes to disturb.

As mentioned earlier, u can start a dummy company to purchase land but no transaction, just pray hard. Thai authority is not stupid, it is whether they want to clamp down on all these nonsense.

[fallen11]

Originally Posted by naemlo

Of cause, I am not talking about those prohibited businesses like farming, etc.

I am sharing, there are business which foreigner can engage and own 100% instead of your info, 51/49. How I know about all these are not hear, say, read online, asked in a forum. I went thru personally incorp of a company and purchasing of property with my lawyer. To boast a bit, I incorp companies and ran the business operation in Vietnam, Indo, Cambodia too so whatever nonsense in each country, I also know.

Thai govt scrutinize companies due to lots of dummy, improper companies. My business in Thailand, submit yearly audited account, pay corp tax. Submit VAT, employee SS, income tax, withholding tax monthly... till now no one comes to disturb.

As mentioned earlier, u can start a dummy company to purchase land but no transaction, just pray hard. Thai authority is not stupid, it is whether they want to clamp down on all these nonsense.

No wonder u know so many places to play

[naemlo]

Originally Posted by funboi

Haiz.......tough life...

Getting more of these farang in Thailand... Thailand now rather welcomes PRC than these white trashes. Even tho PRC culturally is a bit annoying but at least they have the money to spend and get out of the country.

[naemlo]

Originally Posted by fallen11

No wonder u know so many places to play

Bo pian, based in the country needs to find entertainment else will go crazy. My next target is Myanmar.

[fleaz]

Originally Posted by naemlo

Guiding or cheonging vs trusting them with millions THB are totally different but if u can get good friends then good for u. Most friends will not be friend when money is involved.

i think maybe because most of them are richer than me 😄

[Happyman007]

Today news....


https://www.thaivisa.com/forum/topic..._campaign=news

So who still want to set up company just to buy house and/or land??

[naemlo]

Originally Posted by funboi

Then if one day she kick u out of the house, your kid will inherit that house also 55555.

The problem is inherited by her ex husband or bf.

Originally Posted by funboi

I got one thai friend the boss is china people then open company in thailand employ some thai staff to work but the main objective is to bring their funds from china to thailand then they move their children to stay in thailand and want to get PR or citizenship for the children. Like that also can, win liao the PRC.

U need to ask them, have they start learning Thai history and sing Thai national anthem.

[naemlo]

Originally Posted by funboi

That one LPPL liao lor haizzzz. Thai drama....forever dramatic.

Since u know it is Thai drama then why create such a drama? Marry the woman, have a kid then in the end nothing. Buy a condo, draft out your will, no drama... btw if u think marry a woman, make her your wife just for boom boom then better rethink... Having wife might be your worst nightmare.

[Hcer]

Actually, foreigners can buy condominium in Thailand provided the property that you are buying has "Foreigner quota"

Or is simply no quota you can purchase property in Thailand using a BOI. A BOI is Board of Investment that any foreigners can setup provided that you meet the requirements.

My two cents worth!

[fallen11]

Can tell u if u are buying for investment and your aim is capital appreciation, u rather buy condo / apartment.
You dont know the thai market for houses.

When thai people buy a house on sale (not new house), most likely they just aim to buy the land of your house. Whereas the house they'll look to demolish it after that, then build a new house on it. When they want to build a house on it, they will take into account the costs involved in demolishing and building a new house on the land. Because of this, most houses are not able to sell above their initial purchase price (for new houses where the house structure has already been pre-built by developer).
Example: If a buyer willing to pay 4m baht for a house, likely means they only willing to pay u 3m baht for it. The other 1m baht will be for demolishing and building their new house on the same land.

I call this a "resale loss" component. Yes can profit from selling house. But the land appreciation has to go higher than this "resale loss", during the time when u purchased it. Your house structure has almost zero value (or even negative value) to someone who wants to build a new structure. House structure do not appreciate over time either.

This is also the reason why u see half finished skyscrapers, sitting on the same land for > a decade. If developers buy this land, they need to pay to demolish the leftover structure. Unless the sellers lowers the selling price of the land low enough (which means someway below market value of the land in that location) for buyers to justify the cost, else the unfinished building will continue to sit there forever.

Condos and apartments have no such problem.
If u want to build a structure for business (like build a small hotel or resort), probably makes more sense but still need to factor in the additional loss on structure to project your investment returns.

[naemlo]

Originally Posted by funboi

That's why im single mah 55555. but i want many girls be with me but its gona be dramatic.

Who dun want many gers