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New home

Starting to build a small house on our land today. And this is the Thai way of blessing our house on lucky budda day 24th of July with a pigs head,candles,part of tree, and many food to celebrate new home. I just watch as i don't fully understand this tradition but enjoy it.

Stuart :)

Thais tend to be quite superstitious and have a litany of rituals aimed at changing their luck or appeasing spirits.  You have the right attitude, just sit back, watch and enjoy.  It doesn’t hurt you and it makes them feel better so why not.  Fortunately for me, my wife is not very superstitious and we have managed to avoid a lot of the small stuff.

I like you  did not plan on Thailand being my choice of places to live. 11 years ago I just decided to come here, I had no idea about it. I first came to pattaya and travelled round a bit and liked it so much I came back every year. Last year I met my partner in korat, very different from pattaya  but very happy here. I also find no problems living here only the visa laws which i wish could be simpler and more in favour for some countries. Reading some of the posts i don't see why people who have negative opinions about Thailand choose to remain here. We all have the right to our own opinions and I am happy here and like thai culture. I live with my partner and family in the country i live as they do eat what they eat go to the temple ect ect and would never wish to return to my life in the u.k.

Stuart

Are there any comments about setting up a corporation as a means of buying land in Thailand? I believe that there is one requirement in which there is a need for two Thai nationals to be board members with a so called majority. Any input? I do not have a Thai wife.

Be very, very careful.  Many dangers if you do not know what you are doing.  Lots of 'solutions' out there, many offered by the people trying to sell you the land so the advice is unlikely to be impartial.  Thai lawyers will happily set up a company for you, and equally happily provide the 'nominee' directors to kindly own 51% of your company.  Again, hardly impartial.  If you do not have either some Thai friends or a Thai wife you 100% trust, I wouldn't touch it.

I actually have an American lawyer, in practice with a Thai law firm, to help out with the process. This is in association with trusted resources.

I do understand that Thai lawyers can be "challenging" with Farangs. I even saw a situation where a Thai lawyer had promised to do a job for about 15 k baht and then made a big stink when she raised the price to 75 k baht. I was having coffee in a shop and the lawyer actually called the police because she wanted to collect the 75 k baht.

I know American lawyers can be sharks. When it comes to Thai lawyer they could be sharks in blood soaked waters, when it comes to dealing with Farangs. Then again there are still some good people left in this world.

Good luck finding the good people!!

Of course it is up to you but at least take Cranky’s advice and be very, very careful.  Trying to set up a dummy company to do an end run around the laws governing foreign ownership of land is a very bad idea and you could lose everything if things go bad.  If the company does no business and pays no taxes they know what you are doing.  Sure you might get away with it, but can you afford to lose the money you invest?

That's what I thought, when it was suggested to me. Thanks.

Based on my knowledge and may differ due to age; financial abilities and long term.

I assume building your home on "your" land are paid by cash without any loan since foreigners to get loan from local bank is difficult and subject to age too.

As Foreigners are not allowed to buy land and using a corporation to do it is possible if the business is running. But if the business is on stand still then monthly operating cost is needed like book keeping of accounts. Then you have auditor fees when closing the corporate account for the year.

It's funny that a corporation is loosing money or no profit for years yet own land and house.

Personally, I don't believe in buying landed properties in Thailand even I have the financial resources and company. Even with a Thai wife, I will not do it too.

I believe in liquid in cash and investment are overseas whereby I get good returns or if needed, depose of assets is fast and easy.

To buy is easy in Thailand but to sell without profit is difficult. You can see lots of properties unsold for many years. I hate to see my money tied down to something that I can't sell especially the amount is a million baht upwards.

As I'm doing business, I eye for assets rather than liabilities. Financial security is important and no loans or very short term loans.

When I rent a home and with cash in hand, I have bargaining power. Besides I can offset it as Company expenses, why do I need to buy?

I can move homes if neighbours or surroundings changed without any problems.

Many Scandinavian lease nice homes by the sea on 20-25 years contract. They live here for 6 months when winter there and goes back 6 months for the warm weather back home.

Everyone is different so my comments might not suit some.

Bottom line is your heart, do you want to live here till cows come home, how deep is your pocket, what is your safety net in case environment or Thai laws or divorced by Thai wife changed.

I had seen Thai laws changed many times towards foreigners and I won't put my penny here much.

Good example is the immigration laws. You may report every 90 days now and what happens if you gets older or you are weak or etc

Hi, 15 years ago i bought a condo in jomtien and hsd to appoint thais as shareholders, as i didnt know many thais then , my lawyer appoint 2 members of his family . They recieve a dividend of 200 bt a year each and there was never any issues. I have now sold up and moved on . That is the thai system of doing things and while it may not be what were used to , it works ok.

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