Phuket

Wolf · #1 15-02-2007, 23:02

Hi,

I think this probably will end in

Money and investment
but as most people look here first, I will post it here first.
Woman I am with right now wants to buy or lease a shop in Patong.
I wonder about the legalities if I put money in there.
Is not so much but I still wonder.
Any ideas or experience will be apreciated!
In particular the experience to learn from!!!

Thanks,
Wolf

ATMwalking · #2 15-02-2007, 23:05

Do you mean a typical short-term 3yr shophouse lease or a long-term 30+30+30 year lease? If longterm, then same rules apply as house ownership. If it is solely in her thai name, then no legal issue. Bunch of recent threads on that.

marc26 · #3 15-02-2007, 23:14

wolfie,
whos the girl now? you have to take things slow. not just dive into things. just giving you soem advice to avoid gettign screwed

Wolf · #4 15-02-2007, 23:24

Yes, I will take it slow and will also consult embassy but ...
You know best about getting burned and dumped etc...
I think there are some threads but I am working too hard and hardly have time and on 23 I am there and sure she will bring it up!
I bought her a diamond ring but will not say name or more!

Wolf

seafox · #5 15-02-2007, 23:39

Wolfie,

you know the old baseball adage about 3 strikes and you're out. As Pual said, you need to spend more time with these ladies before you get too involved monetarily with them. You already gave her a ring. Will this business venture be successful, or is it just a way for the Thai boyfriend suck the money out of her when you are not there, or something in between that? There are many different ways for her to be sponsored and a business is the most costly way just about it. We all wish you luck but don't jump in with both feet and drown. Better to take off your shoes, stick your feet in the water to make to sure it is not too hot, too cold, or too deep, then you can jump in.

Good luck.

marc26 · #6 15-02-2007, 23:52

again wolfie,

we are not trying to be rude to you
you are a nice guy and we know you from this board
we are just looking out for you
giving you an outside view

Dodger · #7 16-02-2007, 02:49

Sorry I do not understand your question Wolf? what legalities are you wondering about? whether you can do it and how? or whether you will have any ownership or legal standing? from my limited experience to date I've not met a Thai that could think up a business plan other than 'my idea is..........' and other than that there has not been any other thought.

LivinLOS · #8 16-02-2007, 09:32

Of course she can do it with your money.. However you will have almost 0 rights to anything unless you spend (usually more than its worth) to incorporate it in your name and employ her as management.

les1999 · #9 17-02-2007, 17:19

[quote=Wolf;288902]Yes, I will take it slow and will also consult embassy but ...
You know best about getting burned and dumped etc...
I think there are some threads but I am working too hard and hardly have time and on 23 I am there and sure she will bring it up!
I bought her a diamond ring but will not say name or more!

you're taking it slow but have already bought her a diamond ring.........maybe I should go out with you....555555555

Nicke · #10 17-02-2007, 20:54

I would recommend he lease the shophouse in his name, if just monthly rent there is not much to protect and no need for it. (No keymoney involved)

Then she can run it as an individual business, with licenses and tax in her name.

Quote:

Originally Posted by LivinLOS

Of course she can do it with your money.. However you will have almost 0 rights to anything unless you spend (usually more than its worth) to incorporate it in your name and employ her as management.