Unanswered3 years ago
Can foreigners buy land in Thailand through a registered company?
What does freehold property mean?
Can I as a foreigner
1. Buy land with a company regd in thailand?
2. What is the legal position in the above situation?
3. Am I (thag company) allowed to sell such land?
4. Anyone knows anyone who is into Rice Whiskey Manufacturing?
Can I as a foreigner
1. Buy land with a company regd in thailand?
2. What is the legal position in the above situation?
3. Am I (thag company) allowed to sell such land?
4. Anyone knows anyone who is into Rice Whiskey Manufacturing?
Summary so far
The conversation discusses the legality of foreigners owning land in Thailand through a registered company, indicating that it is generally considered illegal. Several comments highlight concerns about legal repercussions related to these actions, while others suggest consulting legal experts for accurate information. Additionally, there is mention of a distillery in Phuket related to rice whiskey manufacturing.
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Norbert ***********
The company can buy the land and put it in the landofficepaper(schanod)and you rent it for 2x 2 pr 30y.
Steve **********
Simply......Don't
you'll hear all the cons. loopholes etc....Don't
you'll hear all the cons. loopholes etc....Don't
Frank **********
You need OJ Simpsons lawyer.
Sam ******
This legal site has the info you need (nothing to do with me- just has info you need):
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Neil ********
@Sam *****
great article and correct.
Steve *******
correct.
Richard ********
Get a good lawyer
Michael ********
There is a good distillery in Phuket and they used to do tours. Very well operated.
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Stephen ********
Michael ********
@Stephen *******
No its a distillery and a well operated one. Do you realise the process is the same. If i was going into this buisness i would take the opportunity to look at a good set of equipment. You can get basic distilling equipment off lazada for couple thousand baht but its not the same.I could easily make a set up out of kitchen equipment but again its not the same
Sam *********
nasty product to be honest
Michael ********
@Sam ********
I dont drink but being steam engineer i was interested in the equipment
Sopan *********
OP@Michael *******
looks good 🤔🤔 let me check it out moreBrandon ************
Creating a company to own property as a foreigner is illegal, because foreigners cannot own property. Many people will say it's legal, but all you have to do is look at the news to see the crackdowns on this exact situation that have been happening.
Norbert ***********
@Brandon ***********
iam not the owner,the company is the owner.Iam the Renter of the land!!!Brandon ************
@Norbert **********
the COMPANY is illegalNorbert ***********
@Brandon ***********
A set up company can Buy land and register it on the landoffice,you ate the generalmanager,you can Rent it from the company.Brandon ************
@Norbert **********
still illegal since it's going to use nominees
Kool *******
@Brandon ***********
that is dealing with nominee shareholders to circumvent the business ownership requirements of regular businesses only being 49% foreign owned. Land speculation, and ownership, is not illegal, as long as the business structure is above the board, with the correct shareholder ratios. A foreign individual can not own land, but a legal corporation can.Brandon ************
@Kool ******
the 2 issues are basically the same, since the foreigners who want to own their house don't want the company they created to skirt the law and own their house to be 51% owned by Thai directors.
Neil ******
@Kool ******
the Thai shareholders are nominees unless the company is engaged in actual business and the shareholders are all realizing profits/losses. If the company has been formed solely to hold the property, it will always be as Brandon says.Kool *******
@Brandon ***********
that's why the voting rights of the stocks issued are important now.Sopan *********
OP@Brandon ***********
hmmmm Interesting 🤔🤔Brandon ************
@Sopan ********
there are entire law firms who only setup these companies for foreigners to own property. Of course they're going to tell everyone it's legal, because it's how they make their money. ************************************************************************************************************************
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