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#1
18-02-2005, 22:04
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Thai wives and property...
Like 99% of other board members I fantasize about owning a bar on Phuket.
In March 2006 I will have 2 million Baht to squander and won't require an income from the bar - just the worlds most expensive hobby  My question... I know a Thai lady I trust ABSOLUTELY. If I married her would I get a better deal on property? Would I be able to get traditonal freehold? Would I get an indefinate stay visa or Thai passport? What are the downsides of marrying a Thai and starting a business together (apart from midnight runs with the swag)? Thanks in advance for your help, Nic 
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#2
19-02-2005, 06:12
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Thai Property Laws
Thai property laws are complicated and strange. In essence they are trying to protect Thailand from carpet baggers and the like.
Here is the chapter and verse Acquisition of Land by Spouses of Aliens According to the most urgent letter No.Mor.Thor. 0710/Vor.792 dated March 23, 1999, the procedures for the acquisition of land by Thais having spouses being aliens, either by lawful marriage (with proper registration of marriage) or unlawful marriage (without proper registration of marriage) and children of aliens, have been changed to be as follows: Any Thai having an alien spouse may purchase or accept land as a gift with no consideration and register the ownership of such land during marriage under a condition that the spouse must jointly provide a written legal confirmation stating that the entire source of funds for such purchase or gift is solely from the "Personal Property" (as defined by Thai laws) of such Thai. Without written confirmation from an alien spouse, the request for such registration must be referred to the Land Department in order to obtain an approval from the Minister. Acquisition of Land by Spouses of Aliens Any Thai who has divorced or separated from an alien spouse may purchase or accept land as a gift with no consideration and register the ownership of such land if it does not appear after investigation that he/she has done so to avoid the law. Acquisition of Land by Children of Aliens Any alien's minor having Thai nationality may purchase or accept land as a gift with no consideration and register the ownership of such land if it does not appear after investigation that he/she has done so to avoid the law. Hope its not too confusing being an alien.... Mac
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#3
19-02-2005, 10:16
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Quote:
If thats a fanasty I shudder to think what your nightmares may be... Bars are high competition industry.. Personally wouldnt touch it with a bargepole but thats just me.. Quote:
If doing a biz look at what biz's earn money that dont have such insane competition (everyone and thier uncle opens a bar).. Things like 7/11 franchises are licences to print money and have very low management input.. Quote:
There are Thai women you can trust absolutely ?? In fact there are women you can trust absolutely ?? There are 2 people I trust absolutely, my brother and my father.. Even my mother would not get full fiscal trust as she is too dizzy.. Anyhoo She may get a better deal on property than you asking as a farang.. All in all money talks though and I get someone else to start the negotiation (set initial bargaining price) and then haggle myself.. You cant get freehold (in broad strokes).. She can get freehold.. You can use company constructs etc to own land / property and should do no matter ho much you trust her now... Retain 100% ownership of everything.. You control your assets and make the choices that effect your life. Once married you can show 400k baht in the bank and qualify for a non immigrant - O visa.. Quote:
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich. Last edited by LivinLOS : 19-02-2005 at 10:24.
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#4
21-02-2005, 11:30
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Mmmmm.....
Wow - comprensive answers
Mac, as I understand it I gain no benefit from marriage re: property ownership - merely the disbenefit of having it in my wife's name/ our joint name. Am I reading it right? If I sign a statement saying that the funds were from the personal property of my spouse then presumably she can just sell it at any point gaining all of the asset... Ouch - I don't think I trust anyone that much  Living in Los, I used to have a persistent nightmare when I was a kid about being locked in a house with a Japanese man who had a gun and wanted to kill me. I had a gun too but I knew it was unloaded... I have considered a restauraunt but I know nothing about them. Also, the standard is set very high in Phuket - the food and service is (nearly) always outstanding. I have been diving for ever but recognize that there are way too many dive outfits on Phuket and the start-up would be beyond my reach. I am thinking about a bar because; 1 I would pay a lot to chill in my own place surrounded by ladies honing my connect 4 and anything else that occured to me 2 I have a great relationship with a big boss (Thai lady) that I would like to make more formal... I think she could go a long way to making it a success. It would give me pleasure to to make her more successful. 3 I can afford the start up. 4 I can easily find 6 month contracts in South Korea that will pay for me to take a year off in LOS. If push comes to shove I can disappear in the low season to re-fill my wallet. Do I 100% trust her? No. She has two kids and a family that she has to prize much more highly than me. Giving her the opportunity to steal enough money to put her kids through school and university would be unfair to her and would probably be the end of a wonderful realtionship too... The story? I went to Phuket to find the pregnant Thai wife of a mate who I thought had died in the Tsunami. Actually, he hadn't Half way through my holiday my money ran out (CC maxed out and my ATM not connecting to my Korean bank...). I checked my email and found out that my sister had been trying to contact me like mad because my father had died. At the bar I had been drinking (I was super generous before my cash ran out) the girls were wonderful to me. I wasn't penniless but couldn't barfine anyone or cough up the necessary 1000. I had offers of free sex from all the girls that I declined with a smile and a Wai (really). The ladies fed me like I was a stray dog and the big boss got pissed with me one night on a bottle of Mekong she bought. On the day I left all the girls gave a small gift (a flower, a hankerchief, a dangly thing for my mobile phone etc.). The big boss fed me twice a day, gave me booze and a shoulder to cry on. She fully expected never to see me again... That's why I trust her. That's why I want to buy her bar in the event it fails, which it probably will... Toe Knee Cap
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#5
21-02-2005, 19:21
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How about a small hotel or guesthouse?
Have you ever looked into buying a small hotel or guesthouse? It might be too expensive, but then again if you could afford it it might be easier to run than a bar.
Rex
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#6
21-02-2005, 20:08
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With 2 million to invest it WOULD be too expensive..
__________________
Men have only 2 emotional states, hungry and horny.. So ladies, if you see me without an erection, make me a sandwich.
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#8
21-02-2005, 21:08
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No bar name
The bar has no name. The bar is in the "swamp" in Kata.
The swamp is the group of two sois on the road to Kata Noi from Kata. Just where the road splits to go to Club Med. It is a very small bar actually on the road just to the left of the RUOK bar. The bosses's name is Pay. She doesn't do boom boom but has two beautiful girls who do. Naa just turned 21 and Paa is late twenties. There's another lady, Nit, pleasant but no beauty (understatement!). It's not classy - but I had my best nights on Phuket there... Be nice to them and tell them England Monkey sent you Cheers
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#9
22-02-2005, 09:25
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Investing in Thailand
It used to be the case that once a Thai national was married to a Farang she/he was no longer allowed to own property in Thailand. This has been a little relented - as in the note above.
By and large Foreigners are not allowed to own businesses or property in Thailand, but then there are legal ways around it. In essence the secure way of doing business in Thailand is to set up a company entity with seven Thai partners. You are only allowed to own 49% of this entity but given that you do, and there are seven of them then you will always have control if you choose your partners carefully, particularly if one of them is your paid lawyer. These entities are available pretty much off the shelf for a fee. Once you have set up this entity you can do business legally as long as you conform to the regulations. You have to "qualify" in a number of ways, but typically it is all about money. If you have a lot of money it is pretty easy, if you don't it isn't. It is however very very important that you clearly read and understand the banking regulations. If you transfer money into Thailand for a particular purpose then you absolutely MUST designate that purpose using a bank form before you do so. For example if you wish to buy property then you must file a TOR3 form, otherwise you simply cannot use that money to buy property and you cannot easily transfer the money out again. In all of these enterprises the services of a good Thai lawyer are a pre-requisite. If you do not protect yourself you will be shafted IMHO. My own personal view of your good natured investment scheme is that it has limited probability of success as a venture. If you want to help this lady to secure her bar then drip feeding the money would probably be better and would certainly last longer. For example if you turned up and gave her 50,000 Baht as a present I think you will reap many rewards in terms of jai dee and your reputation would go before you big time. You could then keep the rest of your money and enjoy it at another bar! I am only voicing my own opinion here, but "investing" in Thailand when you don't actually live there is not a very sound idea. The kempton races in England have a higher probable investment return. Giving money to someone you like is a different matter altogether. Mac
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#10
22-02-2005, 21:42
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Good advice...
Mac, I must say you cut to the quick of the issue. With some mature reflection I guess ensuring her continued presence is more important to me than being in situ at the helm of my own sinking bar.
Also 50,000 Baht would be a life changing sum for her. This is what she told me she paid for a years rent, nearly all the money in the world to her... You can guess how small and poorly located the bar is from that. I will take your advice. Thank you.
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#11
26-07-2006, 00:28
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i know what you mean
i just wanted to reply to the ending of your mail i just thought it was relevant.I too had a problem 2 years and 5 months back in Phuket i was with a girl i had met in Bangkok i had a prob with my ATM card it went outta date i felt such a prick knowing i was broke yet did have plenty of money in my bank.
The girl i was with totally spent her own money which wasnt alot to take care of me for a week or so on my return flight back to Bangkok paid my hotel for the week and took me out and bought my smokes and food we couldnt exactly drink all night but i was happy. I returned all the money she gave me it was like 15.000 baht she had nothing left i had not even considered not paying her back god how could i have my friends back in England said they couldnt believe i paid her the money back and replied "i would have kept the money and ****ed her off and nort bothered with her again"(that sums up the good natured people in my country) And Now i am married to this girl and have been for a year and half i have never regreted it i think Thai are the most honest people i have met ok so there are bad but god in my country England it feels like everyone is bad,rude,ignorant pricks ......i admit at first i didnt trust her and we did argue sometimes that i didnt trust her but now i totally do i love her more than anything else. Quote:
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#12
27-07-2006, 08:52
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happy to hear good stories from both of you, wish you all the best to come....
Regarding buying a bar....it's fun at the start but after some time it becomes hard work.... but if you have made up your mind and wanting to start a new then "just do it". and its possible to make a living on bars. do be careful to buy the right bar though. Last edited by Raw : 27-07-2006 at 09:05.
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#13
27-07-2006, 13:43
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Up for development???
Possibly the way this little corner of Kata has changed in the last 12 months makes the Sois that you refer to far more likely for redevelopment.
What happens if you invest 2million and then the bigger picture of widerscale redevelopment kicks in with the impact of the difficult Thai property laws???
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