No matter what they say you can only lease the property for 30 years and even then the arrangement is very dicey. The promoters talk about buying the house and land but that is "deceptive and misleading", you are only leasing. the land. Just not good enough, as it is it will never be. A hole packet of worms.
I'm not sure what you mean by "dicey." If you can elaborate, that would be great as I would be able to respond. Again, if the lease agreement was properly drafted and officially registered with the Land Department, it is final and protected by law during its duration.
Clearly, as a farang, you will never own the land and for whatever reason your contract will be only as good as the owner's long-term occupancy and dicey goodwill from the vendor. It is just renting long-term and can be ejected at their pleasure or convenience. I can see all sorts of holes. It cannot be used as a security or mortgage as you can in most Western countries. It has no value there. The lawyer is beating around the bush.
If the lease agreement is properly drafted and officially registered with the Land Department, it is protected by law. The lessor can't eject it at their pleasure or convenience as that would be in breach of contract. In fact, lease agreements are also a common practice in the commercial real estate sector. If lease agreements where that flimsy as you say, then that industry won't be able to exist. I'm not sure what holes you're talking about, or what you mean by the lawyer beating around the bush. If you can elaborate, that would be great.
It's going to be interesting if they get the price they want because the building itself is quite old and the renovation feels more like an indulgence than a home.
Stunning! Love that sexy kitchen. My only big complaint would be that washer/dryer single combo unit; they are horrible and inconvenient, though I realize it's fairly standard in Thailand.
สวัสดี ครับ Jeff awesome, videos, I'm from an Asia country small island. I love Thailand, food, environment especially people. I trial and try for few months and love it. I believe Bangkok is my place Sabai. I'm curious, I would like stay more then 6 months per year would I be tax from my primary business income overseas? As for my expense I can take a short flight back to bring in cash on me after use up and also to visit my parents. I believe the limit amount is USD $20,000. Do you think its' fine. All use cash. And appreciate videos about rental. Hope to visit your office or meet up someday when I move over. ขอบคุณ ครับ
Well, I am very impressed. That architect is a genius. Normally I hate kitchens that are open plan to the lounge but that one is acceptable because it is amazing. Maid's room, the bar at the top of the stairs, the quirky doors and secret doors and so on. Wow. Don't get excited though, I don't have the money yet.
Who needs full facilities when double zero 7 left you a set of his crib keys. Could be the best unit i have seen so far in bkk. You nailed it once again!
Ahh you actually see the 007 theme! This property was actually marketed by the designer as a 007-inspired bachelor pad but I omitted that reference as I thought it was kind of a stretch.
It's fear mongering. Have you ever heard anyone losing their house as a foreigner through a company? Have you? Anyone? The only people who spread all this fear are Westerners who bring their Western mentality to Thailand and tell everyone "Don't do it". Meanwhile, since time immemorial, there has been no records of any foreigner with Thai company losing their house... Do you know anyone? It's so stupid... and yet most people fall for those real estate agents...
Setting up a Thai company with 49% foreign ownership solely for the purpose of owning land, without conducting any other legitimate business activity, is illegal in Thailand. This type of arrangement is commonly referred to as using a "nominee company." In this setup, Thai nationals hold the majority (51%) of the company shares on behalf of foreign investors, but they do not actually control or benefit from the company’s operations. This is a violation of the Foreign Business Act and other laws regulating foreign ownership of land in Thailand. Under Thai law, foreigners are not allowed to own land directly. While they can legally own up to 49% of a Thai company that conducts genuine business, using a company as a front to acquire land is illegal. This includes forming a company without any genuine commercial activities simply to bypass foreign ownership restrictions. The offense falls under the Foreign Business Act B.E. 2542 (1999), which mandates that foreign-owned businesses in restricted sectors must be majority-owned and controlled by Thais. In cases where nominee shareholders are used, authorities can prosecute for fraud and violation of the Foreign Business Act. Those involved may face penalties including: Fines of up to 1 million baht. Imprisonment for up to 3 years. Dissolution of the company. Confiscation of the illegally acquired land. Authorities have been actively investigating and prosecuting such cases, especially in areas with significant foreign investment like Phuket, as seen in recent arrests and company crackdowns. Some references: www.huahintoday.com/local-news/thailand-targets-nominee-companies-facilitating-foreign-land-ownership-hua-hin-next-in-line/ www.roedl.com/insights/newsflash-asean/2023-03/thailand-land-act www.phuket.net/articles/2022/12/can-foreigners-buy-property-phuket/
No this one. If you're looking for a low-rise condo with spacious units that is pet friendly, check out this one ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-h4vP8-6T0S8.html
The problem is when buyers try to make return on investment that doesn't help local business who don't sell products to empty units or partially used. City must put a taxes for unit that are empty or not a main residence or used as a full time airbnb
Really prices up since 2 years ago? Am trying to sell an old condo for last 1 , 2 years with no success, at a price cheaper than the original developer's price.
