Phuket

jason_uk · #1 24-07-2006, 22:17

According to my friend telling me you dont need to go into business with a thai in order to own property in LOS,i was thinking unless you had citizenship (if you can still get this???) it wasnt possible it was only the 51%thai-49%farang way of working a business.
So if you want to own a house is this the same principle could i buy a house LOS without the thai having to be a part of the business deal..................................please someone shed some light on this subject i have a great interest in getting my own small business in LOS with a friend in the next 7 years but we want it in our name but im sure this couldnt happen could it ??????????????????

LivinLOS · #2 24-07-2006, 22:43

Thats a confusing post..

You cannot be the majority owner of a Thai Business.

You cannot own land (as distinct from a building on land which you can own) at all.

You can own a minority share in a business. That business can own property incedental to its business interests, its getting MUCH harder to form a company and have it own land without the company haveing a real business interest in that land or reason to own it (like office etc).

You can lease land for up to 30 years. This lease is a legal structure that can be registered in a farang name and is involatile.

Getting citizenship is near impossible for a male.. Its easy for a female marrying a Thai male.

eric-the-viking · #3 25-07-2006, 04:51

now dont shootthe messaenger,but i have been led to belive that untill thatskin had the rescent problems, the was talk of Farangs that are married to a Thai national forso many years may be entitled to owning a SMALL plot of land as long as they meet the restrictons.
all this of course i have now been told has been bottom shelved with political situation,but i am always ready to recieve a word in my shell like if any one heres of any change.

LivinLOS · #4 25-07-2006, 09:22

There was discussion of 1 rai of land being available per person for a single house (not development purposes).. Also discussions that 30m baht in would permit 1 rai (not sure about this one) under 'special investor' conditions.. Same as the easy visa routes.

shark1963 · #5 25-07-2006, 21:27

Quote:

Originally Posted by LivinLOS

There was discussion of 1 rai of land being available per person for a single house (not development purposes).. Also discussions that 30m baht in would permit 1 rai (not sure about this one) under 'special investor' conditions.. Same as the easy visa routes.

Correct me if i am wrong!
As far as i know it is possible to own 1 rai of land to a farang who is married with a Thai.But if the marriage is getting divorced the land must be sold or transfered to the woman.
The original post is confusing as i cant get the point if you like to built up a business to own a house for your own use or starting any kind of business or starting a business in the construction and development services??

There has also been a thread about how to own land or to built a house.And the risk of a company just to own the land (which is illegal).

But at the moment its NOT possible to have an only farang owned company.
Depending on what kind of business your are thinking about, a construction of a thai company owned by 49 % by farang(you) and contracts with a non thai company (owned 100% farang) could work out

LivinLOS · #6 25-07-2006, 21:41

Quote:

Originally Posted by shark1963

Correct me if i am wrong!
As far as i know it is possible to own 1 rai of land to a farang who is married with a Thai.But if the marriage is getting divorced the land must be sold or transfered to the woman.

Nope no way a farang / non Thai can legally own thai land.. Marriage etc makes no difference at all.

Quote:

But at the moment its NOT possible to have an only farang owned company.
Depending on what kind of business your are thinking about, a construction of a thai company owned by 49 % by farang(you) and contracts with a non thai company (owned 100% farang) could work out

With 2 execptions..

Companies formed under the treaty of Amity between the US and Thailand 100% owned by an american national.

A BOI registered company within the specific sectors of industry which BOI is applicable to.

I am 99% sure that one of the clauses for both the types of legal structures is they cannot own land. The US treatey of amity is being phased out to gain WTO acceptance but I recently heard there was some Aussie treaty being made and coming into being.