Seems I chose the wrong time to retire in Hua Hin . . .

[DaveT]

Hi everyone,

Just registered after considering over the last few weeks whether to come and live in Hua Hin after selling one of my businesses. Seems my timing could be very wrong bearing in mind what's just happened with the Thai government's directive of enforcing the law on foreigners owning land.

I've read the threads on here, plus various other sites, all seem to be saying the same really, even though there's lots of debate.

Appears to me that irrelevant of the enforcement of this law, it's still fraught with danger. The Thai government could well change the law next week, next month or next year either way.

Having said that, the article about holding companies does sound like it's a way round the issue. I certainly wouldn't want to buy land/property anywhere that I couldn't say was 100% mine without the fear of someone knocking on my door one day telling me it's been confiscated/seized or whatever. Similar to Inland Revenue distraint - something thankfully I've never had to experience!

I'll continue my digging, but would appreciate any feedback from you guys already there.

Reading through the threads there seems to be a good ex-pat community in HH. I'm a keen golfer and am lucky enough to be a member of Wentworth here in England, so the championship courses in and near HH are very appealing. Are there many Brits in HH and playing golf?

The entertainment, bars and restaurants look good in HH too. Are there too many tourists though?

Any advice, feedback or comments would be greatly appreciated before I start making some decisions.

[Digger]

Hey Dave
Digging around internet does not really give you a great insight into whats going on as you will get all the different sides to the coin.If you are on the internet,book a ticket to BKK,jump the bus from the southern bus terminal and have a real real time look at hohin you might just love it but you wont find that out in Surrey.My apologies if you have already visited but your post implies that you have not

[DaveT]

appreciate your feedback.

I have been to Thailand a few times but not to HH. I have a Thai partner here in Norwich and it is her who has recommended HH.

I do think digging around is useful, but you're quite right about visiting HH in person, having a good look around and speaking to the right people.

Are you a Brit in HH?

[essbee]

If your Thai partner likes it.............. get on that plane !!!

[buksida]

[JW]

Hi Dave T,

Lots of us Brits are playing out here, tad jealous that you play at Wentworth mind!! Why dont you come here for a few months and rent somewhere nice and get a feel for the place. The property market has had a small blip with this enforcement issue, but it is a great place to live with a bunch of good folks living here. Have a look at this site also - www.huahingolfsociety.com

More than happy to have a knock with you if you come.

Cheers

JW

[PJG]

DaveT,

The Golf is great around Hua Hin. You will enjoy playing Springfield, Lakeview and Majestic just as much as Wentworth but a lot cheaper and pleasenter during the Winter.

There is a flourishing Golf Society in Hua Hin with many members and competions every Tuesday and Wednesday. Also lots of the guys get to-gether most days for roll ups.

Regarding property if you are worried about owning in your name a Condo is probably the best route. If you want a house you can rent and enjoy an extremely good lifestyle without risking your capitol.

Regarding your g/f's advice she is correct come and try HH you will not regret it.

[JW]

The golf diary works like this -
Monday - Roll up at Lake View - usually noon tee off
Tuesday - Golf Society - venues change
Wednesday Day - Butterfly Rock Golf Society - details at Butterflyrock.com
Thursday - Springfield roll up - 9.30 tee off
Friday - Golf Society
Saturday - Day Off
Sunday - Springfield Roll up - 9.30

Plenty of golf to be had and if you travel to Racthaburi - 2 great courses and 1 ok.

[DaveT]

seems like there's a great golfing community out there.

If I make it over I'd love to join the golf society and thanks for the offer of a game.

It's the complete opposite to me playing in the UK. The weekly agenda kindly posted shows Saturday as a day off. That's the only day I can play over here as I'm working my backside off the rest of the week. Can't wait for it to be the other way round.

As the moderator said, the internet is a fantastic tool for finding all the different points of view and experiences. I shall keep hacking away at that, though I shall wait a few weeks to see how things settle down and whether the Thai authorities start investigating existing shell companies, etc.

One question, if you have a shell company that's not actually trading in order to own a property, how can you post accounts? That would be the first sign to the Thai authorities that something was amiss.

[Guess]

The general rule of thumb with properties that I have rented is about 1/200th the value of the house per month. This give you about 16 years before you have paid for the house at the price it was when you moved in.

The Condo option is probably better if you are prepared to live in a Condo.

If you have a partner that you trust all of these land ownership rights go out of the window. I have seen nothing to sugest that any law has been changed. All that has happened is that the land ownership restrictions regarding farang directed shell companies have recently been enforced.

We have all known for years (or those of us that have been made aware) that the setting up of shell companies with Thai solicitors acting as shareholders has been a loophole that has been exploited and also that that it is the government's perogative to clamp down at any time they wish. It has just happened recently.

It is my opinion (but only that, I could be wrong) that the enforcement was made pending investigations into crooked foreign companies with false frontages around the world worls that were profiting from major land deals and developments in Thailand with hardly any of the procedes entering the Thai economy. These are companies of international crooks who pay no taxes in any country.

I think that like with many of the panics we get here in Thailand that time will provide an adequate solution.

However the overall effect on the property market, especially in areas popular with farang, must have suffered a negative effect. The price rises were too great to sutain anyway. A market only has a limited size and budget. When saturated two things can happen. It can decline or it can remain stagnent for a sustained period. Both thes situations have happend in the UK since 1989 to to a lesser degree in the Bay Area of California.

So in the original concerned poster's case, I would judge that everything is on your side. You can come here, rent for two or three years and make your decision based upon what you learn in that period.
_________________

All that the South has ever desired is that the Union of fore fathers should be preserved.

[igor1]

Hello Dave,

Would you mind buying leasehold?

The one safe thing would be to buy a house but lease the land from a "truly" thai company - which would probably mean a company without any foreign shareholders at all.

Any other form (whether you use a company with a nominee structure or you lease from a company with a nominee structure that in its turn owns the land) are legally incorrect.

That said, I think they are all pretty safe simply because if the Thai government would crack down on the use of nominee shareholders it woud equate them cracking down on virtually every foreign business in thailand that does not operate with a board of investment excemtion. -This would simply be too complicated for thailand and scare too many investors off.

Basically think that if you manage to transfer the land (as the land transfer is the part that is being attacked) to your company you are home free.

This is just my personal opinion, nobody knows or will know for a while.

[DaveT]

Thanks for the information, really useful. The golf society looks really well organised and popular.

Don't really want a condo - I'm really looking for a larger house with nice grounds. Couple for sale at the moment on Palm Hills golf course that look nice. What's Palm Hills like as a golf course?

[tuktukmike]

With respect to the mods this site seems to me being used as a vehicle to real estate agents, i really do hope that this is not a regular feature.

If these people tell customers the facts this will enable an informed opinion as to any investemnt.

mike

[Lev]

[JimmyGreaves]

Well said Lev, Totally agree. This board is handled very professionally.