John Speed

True to an extent,
but don't forget we are guests here; love the life in Phuket, am retired so find a view of the sea very relaxing and it's certainly better for the arthritis I left behind in Surrey.
We have to be patient when visiting Immigration, or taking their driving test,or wondering why we can get no discounts from car dealers as you can in The UK.
But apart the appalling driving we can find nothing else to dislike......but DO NOT go into business with a Thai.

Troopie

Oh yes, I agree. For retirement (so long as you have no wish to leave something for your offspring to fight over, like a house) or for a long holiday, Thailand is marvellous. But for business or settling down, maybe not.
It is better than Africa (where my family settled 122 years ago) but I hate to see wasted potential. Set aside a few areas where farang can legally buy a house, with higher taxes & prices, & then milk them like crazy. The Thais could be making a hell of a lot of money if they handled the farang right. Then again, even if they did, it wouldn't improve the average Thai's life or the schools -- educated kids might upset the status quo!

maria-g

Thanks, that's a very interesting reading. So looks like the only way you can form a company in Thailand is to have a thai business partner, who someone you trust. That will be a problem for me as I don't know anyone in Thailand.

So say I bought my 3 bedroom house with a thai business partner. Is that mean that this person has a claim on my property?

Troopie

You would need several Thai partners, actually. Now in theory, even if they were to unite & conspire against you, your 49% share would have more voting power than their 51%. However, the government sees this rather differently.
Your partners could, possibly, (I haven't heard of this happening much) take over the company & as the company owns the house, that as well. What is more possible is that they would take at least 51% of any income the company generated -- & since Thaksin, the days of the old paper companies are over. If your company doesn't need to pay taxes within a few years, then you'll attract the interest of the government -- & they are more likely to threaten your property than your partners!
What some folks do is buy 2 properties (using the company) & then rent one out, the rent being company income that keeps the tax man at bay. If you pay any tax, even just a few baht, they generally leave you alone. No, if your company is semi-active & you keep your fiscal nose clean, then the main problem is partners.
There are, of course, loads of foreigners with good, dependable Thai partners who do good business here, no complaints. Restaurant owners, property shops, import/export firms, the Yellow Pages are full of them. However, choosing your partners can seem a bit like roulette, & if things do go wrong, you do tend to be rather on your own, as legal system is somewhat partisan.

I am, of course, painting an extremely bleak picture. Many foreigners never face such problems at all -- but it's best to enter the game knowing that such problems are possible, even if not probable. I own a house & land (through a company) & have done so for around 2 years. It isn't too easy but if you have patience & determination, it's possible -- & can be VERY nice!

maria-g

Thanks Troopie for the information. We just sold our house in Florida so looking to invest again like buying another holiday home in the sun where we can use it, rent it out when we are not using it, a place where we can retire and at the end pass it on to our children. Looks like Thailand is out of the list now. We really like Thailand so we are still going there for a holiday.

John Speed

Still come, buy a Condo, easier and safer, many now available.We live in one in Phuket and having had a house in Koh Samui for three years, we are far more able to feel safer and just lock up and go when we want a trip.
Anyway there are many more web sites which can give you information; check Google!

maria-g

Hi wellington, thanks. How did you buy your condo?

John Speed

With Money!

Troopie

Yes, a condo is fine -- for some.
However, I grew up in the wide open spaces of the high veldt, with our neighbours around 20km away, & so after spending 14+ years in Tokyo, I swore I'd never live without a garden again. Now I have a detatched,2 storey house with all round garden (allowing me to keep my beloved dog & gives mt son room to play) -- great for a sundowner drink on the lawn or an occasional braai (bbq) .
Yes, buying a house is complex but it was worth it.
But then, different strokes for different folks!

John Speed

Quite.

maria-g

Sorry, what I mean to ask is, what is the process to buy a condo?

John Speed

1; Decide where you want to start looking
2; Approach all local agents for property lists
3;View as many as you think may be interesting
4;List pros and cons
5;Start negotiating; The agent will know the whys and wherefores!

maria-g

Thanks for that Wellington.