I'm not sure how many of you had read this article about foreigners lease the house in Bangkok Post
http://m.bangkokpost.com/latestnews/485221
Court voids "secured" foreigner leases
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Thailand civil and commercial code is clear about lease ( section 540 below ) :
Section 540. The duration of a hire of immovable property cannot exceed thirty years. If it is made for a longer period, such period shall be reduced to thirty years. The aforesaid period may be renewed, but it must not exceed thirty years from the time of renewal.
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Schemes and schemers.
I'm less than shocked.
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So what's next? What about the thousands of people who have "bought" landed properties in Thailand using a corporate structure arranged by an attorney (the usual work around). Personally, I would never mess with Thai law in any way.
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Gravitas wrote:So what's next? What about the thousands of people who have "bought" landed properties in Thailand using a corporate structure arranged by an attorney (the usual work around). Personally, I would never mess with Thai law in any way.
If you observe any laws change pertaining to foreigners, it comes effective very fast. Immigration laws are never debated in parliament but police decide and implement them.
Thai authorities knows about proxies in companies and signing of house rental lease etc. They are going for some companies and this happen because someone rock the boat. All goes well if no one stir the "shit." When someone stir the shit, then it goes into the mouth or not and have fireworks for celebration.
I wonder how many observe the Japanese corporations and I have not seen or know Japs lease house with land like some foreigners who did on 30 years lease. Likewise for western countries companies here who can spend few hundred thousand baht on monthly rent for their CEO and they dont go for the 30 years lease style. Isn't it strange as I'm sure multi corporations have gurus in financial and attorneys.
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