Foreigners purchasing property in Thailand

[cbrib]

There's usually always a lot of debate on just what it takes for a foreigner to purchase property in Thailand. This is a pretty good blogpost from Ajarn.com explaining how it works. http://bit.ly/1hxORlx

[pattysteve]

Except tha the company name thing could backfire on you if the is any dispute involving the

land or house the judiciary will not favour you.

 

Ithink a well known story,abr.

 

Man buys house company name,man goes to UK for business,man returns and house has someone

living in it.It seems a lawyer a had borrowed money on the house and had not repaid.

 

When it goes to court,judge admits the man has been swindled but says because in the first

instance you broke the Thai law for owning land.YOU LOSE.

[Grandpollo]

And the Thai tax authorities are apparently looking for this as the use of the house is a taxable benefit to the owner of the holding company and you wind up paying income tax for this virtual salary.

 

The lawyer borrowed against the house is pretty preventable if the title is sound. Not sure how that would happen at all, actually.

[pattysteve]

And the Thai tax authorities are apparently looking for this as the use of the house is a taxable benefit to the owner of the holding company and you wind up paying income tax for this virtual salary.

 

The lawyer borrowed against the house is pretty preventable if the title is sound. Not sure how that would happen at all, actually.

Maybe it was the lawyer who did the title ect. that borrowed the money.Its an old story

from the local papers a good few yrs ago.

[bigmick]

And the Thai tax authorities are apparently looking for this as the use of the house is a taxable benefit to the owner of the holding company and you wind up paying income tax for this virtual salary.

 

The lawyer borrowed against the house is pretty preventable if the title is sound. Not sure how that would happen at all, actually.

 

Not a problem if you file your tax return each year and pay the taxes due. And, so long as the Title papers is in your possession - it cant be used to borrow money against it. Thailand does have some draconian laws but you may get fleeced - but only if you are silly enough not to follow them and get a good lawyer to start with.