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Thread: If you own Land via nominees

  1. #1
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Stillearly's Avatar
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    If you own Land via nominees

    Support sought for bill to curb foreign land grabbers in Phuket and throughout Thailand

    PHUKET: The Office of the Ombudsman is seeking support for a law to prevent foreigners illegally owning land via nominees.

    Bangkok Post
    Tuesday 20 August 2013, 10:58AM

    The legislation was discussed yesterday (August 19) at a seminar organised by the Office of the Ombudsman, which wants to push the bill through for scrutiny by Parliament.

    The 40-section bill targets foreigners illegally holding land in Thailand, their legal consultants and their nominees.

    Foreigners holding land plots in Thailand illegally would face five to 20 years in prison and/or a fine of B500,000 to B2 million, while the consultants would face two-thirds of whatever penalties are imposed on the wrongdoers.

    Under the bill, a committee to investigate “hidden” transactions would be set up.

    One provision in the draft allows those found to be holding Thai property illegally to transfer the plots to legitimate entities within one year to avoid being punished.

    Ombudsman Siracha Charoenpanij said the proposed law aims to close loopholes being exploited by foreigners.

    Mr Siracha became the centre of a heated debate in March last year when he claimed that foreigners owned 30 per cent of all the land in Thailand.

    Currently, foreigners may “own” land through a number of channels such as registering a limited company with 51:49 Thai-foreign ownership, or by putting the land in the name of a Thai spouse.

    “We must bring to account the foreigners, Thai nominees and legal advisers,” he said.

    He said the Office of the Ombudsman would propose a regulation overseeing nominee ownership before the law takes effect. It would require the Interior Minister and his permanent secretary to investigate “hidden transactions” and take legal action against offenders.

    Mr Siracha said that based on the office’s study, much of the land in major tourist destinations such as Phuket, Koh Samui and Koh Chang is owned by foreigners.

    He said another concern was that foreigners allegedly “seized” agricultural areas through either purchase or lease.

    “If we don’t do anything, they will take control of it all – tourism, residential and farming,” he said.

    Prasop Butsarakham, a legal adviser to House Speaker Somsak Kiatsuranont, backed the proposed changes.

    He suggested Mr Siracha ask major political parties to submit their own versions to parliament to avoid conflicts.

    Prasong Lertratwisut, a member of the law reform committee, however, pointed out that the problem lay with lax enforcement of the law.

    Mr Prasong said land grabs were widespread among Thai investors and suggested a tax measure to address it.

    He said information on land ownership should be made public as this would allow the state to collect taxes on unused land.

    Mr Prasong believes such a measure would force many landowners to sell their plots to avoid paying taxes.

    Pirapan Premputi, former secretary-general of the Anti-Money Laundering Office, also raised concerns about lax law enforcement.

    He said existing laws, such as the anti-money laundering law, should be amended instead of drafting a new law.

    Department of Business Development deputy chief Wichai Potchanakij said political will was needed if the problem was to be properly addressed.

    Mr Siracha said he would submit the bill along with a study on nominee land ownership to the Prime Minister, Parliament and the two biggest political parties before the end of the current session.

    - See more at: Support sought for bill to curb foreign land grabbers in Phuket and throughout Thailand

  2. #2
    Frequent Flyer kaptainrob's Avatar
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    Some of the worst offenders are other Asians, particularly Chinese nationals which annoys Thailand's power elite who want it all for themselves. In essence it's not a bad law, protecting sovereign interests.
    Cheers, Rob.
    Lifes journey is not to arrive at the grave safely in a well-preserved body, but to skid in sideways totally worn out, shouting: holy s.h.i.t what a ride!

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    ประเทศไทยเพื่อน Founding Member Thai Dreamer ผู้เพ้อฝัน Changone's Avatar
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    And what of the Thai nationals who have sold out to foreigners, and pocketed the cash?
    Could they be the same ones now wanting the law changed?
    Nothing like getting your land back cheap after you "Laundered" it.

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน MarcTwoSix's Avatar
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    the one thing i don't understand is the restriction on foreign ownership doesn't seem to keep prices down
    i can't see them going much higher if there were no restrictions

    you look at prices in BKK(true market) and prices are pretty much in step with western prices if you look at similar construction quality

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    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    Quote Originally Posted by MarcTwoSix View Post
    the one thing i don't understand is the restriction on foreign ownership doesn't seem to keep prices down
    i can't see them going much higher if there were no restrictions

    you look at prices in BKK(true market) and prices are pretty much in step with western prices if you look at similar construction quality
    Far less in truth forget what you see on the internet as its inflated.

    Your average 3x2 semi detached house you can see in many parts of BKK say Bang Phree or near the airport.

    750k Bt seems about average.

    Average Thai abodes...
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    Platinum Mick's Avatar
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    Quote Originally Posted by kaptainrob View Post
    Some of the worst offenders are other Asians, particularly Chinese nationals which annoys Thailand's power elite who want it all for themselves. In essence it's not a bad law, protecting sovereign interests.
    It is a jingoistic law protecting vested interests, which brings no benefit to the compliant, indebted hoi polloi.

  7. #7
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน MarcTwoSix's Avatar
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    Quote Originally Posted by wabbits View Post
    Far less in truth forget what you see on the internet as its inflated.

    Your average 3x2 semi detached house you can see in many parts of BKK say Bang Phree or near the airport.

    750k Bt seems about average.

    Average Thai abodes...
    but that is the key, average Thai abodes that are built like crap

    that is why i said "similar construction"
    if you have a condo, say in Sathorn, that is actually built properly, with the same fittings as a western build, it will cost you just about the same as it will in the west

  8. #8
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Chob's Avatar
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    Their country , they can repeat their laws over and over if they want.

    If your Thai gf or mate owns 51% of your block , and you own 49% , who REALLY owns it already?
    But fine , if Siracha wants Thais to pay for 100% and own the lot REALLY , then by all means...

    And if he wants to sue all the Thai lawyers and legal advisors who advise according to THAI LAW , then lets see how he goes.

    Honestly , its the lax enforcement of existing laws plus corruption that ought to be targetted.
    But Siracha wants headlines.

  9. #9
    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    Quote Originally Posted by MarcTwoSix View Post
    but that is the key, average Thai abodes that are built like crap

    that is why i said "similar construction"
    if you have a condo, say in Sathorn, that is actually built properly, with the same fittings as a western build, it will cost you just about the same as it will in the west
    Ok I see what you are saying but I can't see the difference in quality as they are all put together the same.
    The only thing that would be different is the fit out covering the same as everywhere else construction.
    And it is not the same cost as the west you only need to go to homepro and look at the cost of fitting out a condo.

    Materials are much cheaper labour is much cheaper...
    A bag of cement is 200bt its 25.00 here.
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  10. #10
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน MarcTwoSix's Avatar
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    Quote Originally Posted by wabbits View Post
    Ok I see what you are saying but I can't see the difference in quality as they are all put together the same.
    The only thing that would be different is the fit out covering the same as everywhere else construction.
    And it is not the same cost as the west you only need to go to homepro and look at the cost of fitting out a condo.

    Materials are much cheaper labour is much cheaper...
    A bag of cement is 200bt its 25.00 here.
    but the condos are the same price when you get in the higher end and even then, the fittings are inferior to a high end condo you would buy in the west

    you can buy a thai style townhouse that looks good but more than likely, you will have issues with the house
    i see it constantly in my wife's hood in BKK, including their townhouse

  11. #11
    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    Quote Originally Posted by MarcTwoSix View Post
    but the condos are the same price when you get in the higher end and even then, the fittings are inferior to a high end condo you would buy in the west

    you can buy a thai style townhouse that looks good but more than likely, you will have issues with the house
    i see it constantly in my wife's hood in BKK, including their townhouse
    A lot of those condo's are aimed at western buyers maybe...Hence the prices, I have given up on internet prices as it is not aimed at Thai's.
    The basic concrete structure of the houses out in the burbs is fine a little subsidence here and there.
    Plaster work is ordinary but easy to sort.....But things are falling apart by the time someone feels it needs to be fixed if at all.
    You only hear about it because you are farang.55555
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  12. #12
    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน MarcTwoSix's Avatar
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    Quote Originally Posted by wabbits View Post
    A lot of those condo's are aimed at western buyers maybe...Hence the prices, I have given up on internet prices as it is not aimed at Thai's.
    The basic concrete structure of the houses out in the burbs is fine a little subsidence here and there.
    Plaster work is ordinary but easy to sort.....But things are falling apart by the time someone feels it needs to be fixed if at all.
    You only hear about it because you are farang.55555
    nah, i think her mom just stating there is 3ft of water in her house is making convo 555

  13. #13
    The artist formally known as Wabbits Thai Dreamer ผู้เพ้อฝัน wabbits's Avatar
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    Quote Originally Posted by MarcTwoSix View Post
    nah, i think her mom just stating there is 3ft of water in her house is making convo 555
    Two levels and not much furniture has its advantages when the floods come.55555
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