to buy or not to buy !

kevars · Member Joined: 04 Dec 2005 Posts: 75

i have been checking out lots of the posts on here regarding property , purchasing , thai laws etc , i looking to buy some sort of home in HH within the next 6 months , i mentioned to my thai wife about setting up a thai company and purchasing the property that way , i could sense she was not too pleased with the idea ! was just wondering how you guys with thai wifes went about your home buys ? did you buy on the side of caution or take a bit of a gamble and put in your wifes name ?

johnnyk · Ace Joined: 02 Sep 2005 Posts: 1098

In your Thai wife's/GF's name is not a gamble. Cussing

Chok dee krap

Guess · Posted: Fri Jan 06, 2006 12:16 pm Post subject:

My understanding is that the difffernece between wife and G/F is important here in Thailand.

If you start a company you can own 49% and you will become the MD with a minority shareholding. The remaining 51% is owned by a number of solicitors scattered all over the country.

If you are married then the best thing to do is to give 49% of the shares to your wife. She is entitled to about 50% anyway. This way you have equalkity and you will render the solicitors impotent.

As for girlfriends are concerend, I know nothing. I have heard of many horror stories though, mainlly involving misplaced trust. If your are not sure then do it on your own. It is not your girlfriends concern regarding the property in which you live or have invested in. If she questions you on the subject, my guess is it's for an ulterior motive.
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Remember. A turkey is for life not just for Christmas

buksida · Posted: Fri Jan 06, 2006 1:06 pm Post subject:

This topic has been covered many times:

http://www.huahinafterdark.com/forum/viewtopic.php?t=1507

http://www.huahinafterdark.com/forum/viewtopic.php?t=1619

However it is still one that interests me as I do plan on buying something at some stage here.

As said above, if you are legally married here then the 50:50 split is more viable but I personally wouldn't put anything into a "girlfriends" name unless I can afford to lose it. There is no logical reason for a Thai wife not to be supportive of setting up a company to purchase property unless she wants it all in her name for a reason.

Idea

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Luctor et Emergo

JW · Ace Joined: 11 Sep 2005 Posts: 1529 Location: hua hin

If you buy the house in a company name, you can save money on taxes when you sell the house as you simply change the directors within the company.

Big Boy · Legend Joined: 04 Nov 2005 Posts: 3591 Location: UK

Is there a need to form a company at all if your wife is Thai and you know that you can trust her?

I hope this is a naive question, but my plans have always been to retire to Thailand and to buy property in my wife's name.

If that is not feasible, can somebody please explain why?

Norseman · Posted: Fri Jan 06, 2006 8:30 pm Post subject:

No problem Big Boy.
You don't need a form a company to stay in Thailand, as long as the house, car and motorbike is kept in your wife's name.
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I intend to live forever -- so far, so good.

Norseman · Posted: Fri Jan 06, 2006 8:32 pm Post subject:

You don't need a form? Should be: You don't need to form a company.
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I intend to live forever -- so far, so good.

Farang · Guru Joined: 09 Jan 2003 Posts: 690

Big Boy · Legend Joined: 04 Nov 2005 Posts: 3591 Location: UK

Big Boy · Legend Joined: 04 Nov 2005 Posts: 3591 Location: UK

Norseman,

Please accept my apologies, I'm giving Buksida the credit for your answer.

buksida · Posted: Fri Jan 06, 2006 10:55 pm Post subject:

Not really sure what the F%@# has happened to this thread but anyway ...

Farang, thanks for the offer, we will have a chat. I'm not planning to rush anything ... how long have I been here?!

BB, No problems at all if you know you can trust your wife. However would you put everything into your partners name in the UK (or wherever you're from)? In my view an investment as large as buying a house needs to be secure for both parties involved. Everything in a Thai name where a foreigner has less legal rights than a soi dog doesnt sound very secure to me.

Norseman, put that beer down ... or at least bring a couple round for me!

Norseman · Posted: Fri Jan 06, 2006 11:34 pm Post subject:

Sorry 'bout my spelling buksi. (Sangsom)
I'll buy you a beer anytime.
Why?
Because you're worth it!!!
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I intend to live forever -- so far, so good.

kevars · Member Joined: 04 Dec 2005 Posts: 75

i think i have the answer !! we have a house in Khonkaen ( in her name but money borrowed from thai bank ) , and i ve said " my love do you think we need a bigger house for our future off spring ? "BINGO ! sweetmouth kevars , now shes distracted im thinking of setting up thai company and purchasing in HH , MM THE WORLD IS MY LOBSTER ! Wink

lomuamart · Posted: Sat Jan 07, 2006 5:49 pm Post subject:

You're promising sprogs as well?
Reckon 2006 could be a busy year for you. Good luck thumbs up

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"I spent a lot of my money on booze, birds and fast cars - the rest I just squandered". George Best.