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No DSI probe into nominee firms in Phuket – for now


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Gee..How many foreigners are looking over their shoulders at the Thai Company they set up to buy a house?wink.png

Or to buy land, or to start a business, etc. Could be some nervous, sweaty palms in Phuket about now.

Why in Phuket, they haven't started there yet. What about Pattaya where they are starting. No problem though, just sign it over to the wife and take out a 30 year lease. People like to make a big drama out of nothing.

Good way to lose your money, sign it over to someone else. And it is actually illegal to do this -something about circumventing the law.

30 year leases are worthless for resale. Who will buy such a thing when the land reverts back? But so many bought the 30 + renewal misinformation, took a lot of posts over the years to get that one out in the open, was absolutely the biggest scam ever perpetuated on expat discussion forums- quite deliberately, too.

Edited by EBlair48
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The approach of Thailand on this issue is schizophrenic. If you look at the laws/regulations governing foreign investment in the numerous industrial estates in Thailand, the laws/regulation allow the foreign enterprise to own land in fee simple, be 100% foreign owned, AND the enterprise is allowed to repatriate all of the profits. There are also considerable tax breaks and relief from import tariffs. Under these circumstances, why not create a level playing field for all?

Because it is not a country that considers people equal, the rich get more rights, foreign or domestic.

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i always said company route to buy a hop use here was very stupid Apart from fact that one day they might actually investigate i know at least 2 cases where forang died and many years later their heirs unable to get the property since shareholders rightly claimed jot was theirs.

Serves them right IMO

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I would be in favor of this, but the action needs to be reciprocal.

For my country, that would mean that no Thal national can own land, work without paid in capital of an appropriate amount and the hiring of four US citizens for every work permit, and duties of 100% to 300% of any Thai products imported.

Is it a deal?

difference is in UK its legal for anyone to own land or poverty and here its not legal for non thais to own land so forang doing this ares knowingly breaking the law and i hope they get stung for it like anyone else breaking the law. ITs of course almost impossible to change law in UK so stupid suggestion

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Gee..How many foreigners are looking over their shoulders at the Thai Company they set up to buy a house?wink.png

Or to buy land, or to start a business, etc. Could be some nervous, sweaty palms in Phuket about now.

Why in Phuket, they haven't started there yet. What about Pattaya where they are starting. No problem though, just sign it over to the wife and take out a 30 year lease. People like to make a big drama out of nothing.

because thats exactly who people use stupid company route because they dont trust their wives and 30 year lease is no good if wife then get nasty which she can't do if in company name but i can never understand why people marry id they can't trust their wives or why they buy a house via a company since as I've already posted if they die before sorting it out its a nightmare for any inheritors to get it anyway. I know 2 cases where (1 is now 12 years later) the nominee shareholders simply claimed it was theirs and little inheritors seem able to do. In one case it involved property costing over 100 million baht and wife/GF has been collecting rents for all those years and openly boasts she just pays shareholders a bit. I understand her husband put in bios will all to go to his children and they have spent many many millions of baht in court and legal fees. IO doubt they will ever win and wife has told them shell settle and give then 10 million or shell just continue and they will never get the property. At start she offered 1/2 but now says stupid forang soon ill offer 5 million then nothing and let them go broke trying to get courts here to support them.

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Gee..How many foreigners are looking over their shoulders at the Thai Company they set up to buy a house?wink.png

Or to buy land, or to start a business, etc. Could be some nervous, sweaty palms in Phuket about now.

Why in Phuket, they haven't started there yet. What about Pattaya where they are starting. No problem though, just sign it over to the wife and take out a 30 year lease. People like to make a big drama out of nothing.

because thats exactly who people use stupid company route because they dont trust their wives and 30 year lease is no good if wife then get nasty which she can't do if in company name but i can never understand why people marry id they can't trust their wives or why they buy a house via a company since as I've already posted if they die before sorting it out its a nightmare for any inheritors to get it anyway. I know 2 cases where (1 is now 12 years later) the nominee shareholders simply claimed it was theirs and little inheritors seem able to do. In one case it involved property costing over 100 million baht and wife/GF has been collecting rents for all those years and openly boasts she just pays shareholders a bit. I understand her husband put in bios will all to go to his children and they have spent many many millions of baht in court and legal fees. IO doubt they will ever win and wife has told them shell settle and give then 10 million or shell just continue and they will never get the property. At start she offered 1/2 but now says stupid forang soon ill offer 5 million then nothing and let them go broke trying to get courts here to

Doesn't anyone have a normal life anymore??

I mean you meet a woman..fall in love get married.

Buy a house/land etc together (can't own the land - so what?) maybe have kids.

If all goes bad - go to court - split the marital assets 50/50 INCLUDING the land.

Same as where I come from in Oz. (in theory..most times the wife gets a lot more)

What's the big deal? Trust me... the man will get screwed in any event.

Why go through all the drama of creating a dodgy company?

What's the point?

Unless of course your original intention was less than honourable.

If that's the case don't come here whining for understanding and sympathy.

Wear your losses because there is fair chance you deserve it.

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^...but everybody does it !!!! Well seems they will get away with breaking this law a little while longer.....

Thailand has set it up to take everything it can from foreigners. Caveat emptor !!

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To icare999:


Why do we need punctuation?

Punctuation marks are essential when you are writing. They show the reader where sentences start and finish and if they are used properly they make your writing easy to understand.

post-2763-0-46928600-1408763932_thumb.jp

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Gee..How many foreigners are looking over their shoulders at the Thai Company they set up to buy a house?wink.png

Gee .. I'm astounded by the amount of Thais driving around Sai Yuan with fistfulls of cash looking to buy up all those bloody great condos and 'willas' being sold at knockdown prices by Thai developersw00t.gif

You'll be okay in your little rental room with no tenancy protection law, don't worry coffee1.gif

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Or to buy land, or to start a business, etc. Could be some nervous, sweaty palms in Phuket about now.

Um, if you read the header again, it states NO plans to participate in usual witch hunt every time reins change hands huh.png

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The approach of Thailand on this issue is schizophrenic. If you look at the laws/regulations governing foreign investment in the numerous industrial estates in Thailand, the laws/regulation allow the foreign enterprise to own land in fee simple, be 100% foreign owned, AND the enterprise is allowed to repatriate all of the profits. There are also considerable tax breaks and relief from import tariffs. Under these circumstances, why not create a level playing field for all?

Because it is not a country that considers people equal, the rich get more rights, foreign or domestic.

Name a country that is not true of?

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