# Buying a house through a LTD Company



## King Silk (Feb 25, 2009)

A Ltd Company owns my House and the Land it stands upon. Formed it about 6yrs ago.
I am the MD with a share majority.

Now, I was informed some time ago, by a Thai git, that this way of buying a house was no longer available to Farangs. But NOT SO!

My new accountant just told me it's "Same same before".......They have just reduced the number of the obligatory Thai shareholders from about 5 to 2.

IMO it's easily the best way to buy a home. Leasing from your missus for 30yrs is a non-starter, and buying it in her name is just plain 'stoopid'. So don't even think about THAT, Buster!

The Company route *is* a bit expensive as you need Annual Accounts (10/12000bht) and you must pay 'Rent' to the company. The amount depends on the size of the House etc.

Condo buying is easier I know. But I don't like living in them. Earthquakes worry me, even though we seem not to be effected by them here in the LOS....YET!


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## Guest (Apr 4, 2009)

King Silk said:


> IMO it's easily the best way to buy a home. Leasing from your missus for 30yrs is a non-starter, and buying it in her name is just plain 'stoopid'. So don't even think about THAT, Buster!


If you are married before purchase and pay for the property, you do have some rights in the case of a split. Prenups are important too. You can I think recover half the value in the event of divorce. Ok the land can never be yours and the property is in your wife's name, but you have rights and that's what we interested in more than anything. Half the value is better than nowt.

Personally the company route is something I'm still wary of, having gone into it in some detail. Thai law is fickle and can change radically from one year to the next, so having Thai nationals as 51% shareholders, even if on paper they have no actual power, is something I instinctively don't like. Still it's the best option of a lot of poor options as the law currently stands. Or the least bad option, depending on whether you are a glass half empty/half full kind of guy.

_(Edit.... you say you have a majority shareholding? Voting shares maybe? Cos as a farang I understood that you cannot own more than 49% of a Thai company)...._

So I rent! If ever I buy, either in the wife's name with as much prenup as I can get, or via a company, it'll be a very limited investment! Just a basic property, a couple of mill, so relatively little to lose if it goes wrong.


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## King Silk (Feb 25, 2009)

Yes. I own 49% of the shares.
As I have said elsewhere, prenups are vital. Fortunately I had one and lost nowt!


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## KhwaamLap (Feb 29, 2008)

*LTD Ownership*

I thought for land ownership (companies owning land) the share had to be no more than about 35% in foreign hands (65%in Thai) - but that may not have actually got in to law - I remember something about it in the news a while back.


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## Guest (Apr 4, 2009)

KhwaamLap said:


> I thought for land ownership (companies owning land) the share had to be no more than about 35% in foreign hands (65%in Thai) - but that may not have actually got in to law - I remember something about it in the news a while back.


Ah yes missed the mention of land KS - does 49% still apply?


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## King Silk (Feb 25, 2009)

49% is the correct figure. I have just got it. So ignore all other info.......


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## willy (Apr 6, 2009)

as far as i know something about the rules in thailand for ownership:
- building permit can be issued in "farangs" name = your name, so you are the legal and only owner of the BUILDING, not from the land
-if you invest up to 40.000.000 baht for a period of 5 years or longer, you are allowed to purchase a land - maximum 1 Rai = 1600 m2 - in your own name, as "farang".No ladies need .... 
The only question is .....who has that much of money to invest ??


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## King Silk (Feb 25, 2009)

willy said:


> as far as i know something about the rules in thailand for ownership:
> - building permit can be issued in "farangs" name = your name, so you are the legal and only owner of the BUILDING, not from the land
> -if you invest up to 40.000.000 baht for a period of 5 years or longer, you are allowed to purchase a land - maximum 1 Rai = 1600 m2 - in your own name, as "farang".No ladies need ....
> The only question is .....who has that much of money to invest ??


Lots of us do on here Willy!
Rich we are.......


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## KhwaamLap (Feb 29, 2008)

King Silk said:


> Lots of us do on here Willy!
> Rich we are.......


Are you turning into Yoda "Rich we are".
Lend me a mill? I'm good for it


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