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What is the easiest process for an expat to open a company in Thailand and use it to buy a house while complying with the law?

Thai company formationBuying property in ThailandNominee shareholder legalityExpat real estate adviceThai property lawsVisas and immigration in Thailand
May 31, 2024
a year ago
James *****
ORIGINAL POSTER
Can anyone recommend the easiest process to open a company and then use this to buy a house ? I know need 51% Thai, so I have 49% with 25% and 24% Thai….
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TLDR : Answer Summary
Opening a company to buy property in Thailand can be risky and may expose you to legal issues. Although you might consider a setup with Thai partners to own 51% of the business, many comments emphasize that this practice is illegal if it's solely a means to circumvent property ownership laws. Legal experts strongly recommend against it due to increased crackdowns by authorities. Instead, it is suggested to seek legitimate legal advice or consider leasing property. For expats without a Thai spouse, there are significantly fewer pathways to legally owning a home in Thailand.
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1-phukets-foreign-investment-crackdown-over-200-arrested-in-nominee-scheme
a year ago
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Doug *********
I am not going to offer to set up a nominee company. It’s illegal, and the people involved are getting arrested. You can lease for limited fix periods and there are better ways to lease, but you cannot buy. Its that simple.

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/16/due-diligence-to-protect-against-scams-in-thailand/
a year ago
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Frank-Steven ***********
If you go down this road, make sure to have "preferential shares" considered. This way, while not having majority shares (which cannot happen in Thailand with a normal comapny as a foreigner), you will preserve majority votes for yourself. Still, it remains risky. Because should authorities / courts deem that your whole construct is only to circumvent / achieve owning land - then they are within their legal rights to take action. Not sure how much enforcement happens - but rumors have it more and more.
a year ago
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Nongnuch ********
creating a company in order to buy a house is illegal. Thai government and Immigration is cracking down on those who use this scheme. Be warned!
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a year ago
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Kris ********
She gets a bonus in the Pre Nup if he dies with a smile on his face???????
a year ago
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Armando **********
Meet the right Thai woman or man depending on you preference, that won't f you over and marry her or him then buy business and or house in their name. Foreigners can buy condos but not houses or property. That's what I did and so far so good. Good luck 👍
a year ago
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Aaron *******
@Armando *********
 Horrible advice.
a year ago
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Tohksic ******
@Armando *********
 I bet you buy lottery tickets as well 😂
a year ago
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Tohksic ******
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Tohksic ******
I know of 4 folks already in the last 6 months who have had their company assets (house/land) seized for using shell/nominee companies to control the assets. The long-tolerated illegal workarounds seem to have come to an end, or at least it seems to be the beginning of the end.
a year ago
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Dylan *********
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477 in today's news ;-)
a year ago
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James *****
ORIGINAL POSTER
@Dylan ********
 ruskies causing problems…. ?
a year ago
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James *****
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Bart **************
They're cracking down on this construction. It's just not legal to own land.
a year ago
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John *********
So much misinformation there are legal and legitimate contracts for this. Whilst nominees are illegal. Agents contracts between Thai are completely lawful depending on the company set up.

For legal advice and assistance, I suggest you contact the following who have been assisting overseas nationals since 2007 with smatters

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The British client affairs manager and practising Lawyer together with his in-house team of Thai lawyers bargers and consultants and accountants will guide you through the process legitimately and legally

I hope this assists 
a year ago
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Us *****
Cheaper to rent. Why buy, use that money to invest. Only Chinese people from the mainland would buy properties here to launder money out of China. You're not one of them, are you?
a year ago
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Alistair **********
@Us ****
 land has provided great returns in many places in Thailand
a year ago
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Us *****
@Alistair *********
 but you're not allowed to own land.
a year ago
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Us *****
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James *****
ORIGINAL POSTER
@Us ****
 never assume
a year ago
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James *****
ORIGINAL POSTER
@Us ****
 renting it’s not yours, can’t do what you want, risk of being asked to leave, owner wants to sell blah blah blah….
a year ago
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Us *****
@James ****
 owner will never sell unless they do it at a lost. No owner would reject your idea of doing something to improve their property. As for it is not yours, this is Thailand, it is never yours. You're just too old fashion, I don't think I can convince you.
a year ago
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James *****
ORIGINAL POSTER
@Bradley ********
 agree so much
a year ago
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Us *****
@Bradley ********
 again, owner will NEVER sell UNLESS they do it at a lost.
a year ago
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James *****
ORIGINAL POSTER
@Us ****
 stop assuming, that’s a fools games
a year ago
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James *****
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Dave *********
Personally I would lease rather than buy but if I was buy I give 45% and 6 %. To Thai with a six a non voting share holder
a year ago
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Michael ********
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/09/french-woman-catherine-delacote-ko-samui-company-assets-could-be-seized-by-the-ministry/
a year ago
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Us *****
@Michael *******
 this is absolute bs. All the real estate developers encourage foreigners to buy homes using this method. Most of the houses in Samui are set up this way. I cannot recall seeing a foreigner with a Thai wife on Samui. This is why you rent and assume little risk.
a year ago
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Brook ********
@Us ****
 never rely on the advice of a salesperson.
a year ago
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Michael ********
@Us ****
 Yes been watching situation on Samui for years knew all about developers doing like this and quite a few of the developers are not thai. Been waiting for bubble to pop
a year ago
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Michael ********
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Will ************
80+ foreigners have been rounded up in Phuket very recently for doing something similar to this.
a year ago
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John ********
The proof I was seeking was assuming this was about setting up a Ltd., company with six Thai partners, plus one farang to purchase a property, so the only investor, the farang could protect his investment. If the Thai Government as I've said previously let foreigners buy houses, but put restrictions on how they could sell them, instead of them being able to speculate for profit purposes, then that'd we'd out genuine foreigners from those who'd like to abuse, by buying cheap & selling at a profit.
a year ago
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John ********
@Will ***********
 Where's your proof?
a year ago
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Nigel *********
@John *******
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a year ago
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Michael ********
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54/more-than-200-arrested-in-phuket-nominee-crackdown
a year ago
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Michael ********
@John *******
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54/more-than-200-arrested-in-phuket-nominee-crackdown
a year ago
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Michael ********
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Michael ********
Bad idea they are cracking down on this.

Recent case where french lady (i think) died and left house to maid has been trending on thai social media
a year ago
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James *****
ORIGINAL POSTER
What’s the best way?
a year ago
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Doug *********
@James ****
 The worst way is to post the questions you are asking on Facebook. You are asking: “what is the best way to commit serious crime that is under intense scrutiny” on Facebook.
a year ago
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James *****
ORIGINAL POSTER
@Doug ********
 thank you for your input
a year ago
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James *****
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John ********
@James ****
 there's no best way
a year ago
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Michael ********
@James ****
 Lease the land, see a lawyer
a year ago
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Ryan ************
@James ****
 There is no safe, legal way around this unless you have a Thai wife that can be on the title deeds. I think there has been a big crackdown on this on Phuket in recent months and the rest of Thailand could be next. Really wouldnt risk it unless you can afford to lose the house
a year ago
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Ryan ************
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Johann *********
You are literally exposing yourself for wanting to circumvent the law friend.

The only sin is getting caught after all. You are making it way too easy.
a year ago
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Brandon ************
Unless the Thai partners have actual financial investment in the company and the ownership of the property is for an actual business purpose of the company, it's illegal. They are called nominees and highly illegal in Thailand and the subject of a crackdown currently.
a year ago
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Judy *******
@John *******
a year ago
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Judy *******
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Judy *******
Technically illegal and could backfire on you
a year ago
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John ********
a year ago
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Nigel *********
@John *******
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a year ago
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John ********
@Nigel ********
 what has this got to do with agents getting 'O' visa extensions based on retirement?
a year ago
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Nigel *********
@John *******
 nothing what so ever. What has the op's question got to do with non o and retirement extensions? You're very funny guy.
a year ago
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Judy *******
@John *******
 This whole conversation is about using Thai nominees for fake businesses in order to purchase property. No-one, other than you, have ever mentioned agents/visa extensions
a year ago
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Judy *******
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Nigel *********
@John *******
 not been following the news Hun?
a year ago
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Nigel *********
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John ********
OMG., So many righteous farangs on here. Maybe trying to change the Thai way of doing things.
a year ago
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John ********
@John *******
 yes that is correct if the thai government has a good look at it a lot of people will be going to prison
a year ago
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John ********
@John *******
 OMG, make sure you get tucked up in bed tonight 😂
a year ago
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John ********
@John *******
 they have done it before and they will do it again when they need some tea money
a year ago
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John ********
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John ********
@Judy ******
 How do you reckon it's technically illegal? Explain please.
a year ago
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Jj ****
@John *******
 nominees are illegal
a year ago
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Danny *******
@John *******
 For one thing the company has to be a valid operating enterprise with a revenue stream not just a shell to own the house.
a year ago
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Danny *******
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Nick *******
Definitely speak to a lawyer . I bought a house 2 ISH years ago and my lawyer said they would set me up a company if I really wanted too, but strongly recommend I didn't go that way .
a year ago
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Damo ******
@Nick ******
 What did he recommend ?
a year ago
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Nick *******
@Damo *****
 I went with the house in my name and a long term lease in a Thai friends name for the land .
a year ago
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Damo ******
@Nick ******
 Cheers, sounds reasonable. Can I ask why your lawyer thought the company option would not be best option for you ?

Appreciate your advice.
a year ago
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Nick *******
@Damo *****
 because it's not totally legal and she said old companies seem to be fine but setting up new ones just for house purchase they are being scrutinized more.
a year ago
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Damo ******
@Nick ******
 Ok I understand. Thanks for the info.
a year ago
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Damo ******
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Stuart *********
You’ll probably need to seek good legal advise on this one as they are cracking down on nominee shareholding.
a year ago
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Stuart *********
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