Land ownership via limited company

[thebears]

Not necessarily a simple topic I realize, but does anyone have any more recent knowledge of whether this type of land ownership through Thai shareholders in a limited company is still a viable structure and still used? Thanks.

[Scout]

Yes and yes. Every once in awhile the regular rumor goes around that the government will soon take actions to do away with it but nothing seems to happen and as far as I know nothing ever changes. I’ve discussed with numerous lawyers who all assure that it’s entirely legal, as long as you don’t use “nominee shareholders”, which the lawyers say are defined as Thai Shareholders that exist in name only. I’m not an expert on any of this, so will be following this thread with interest, especially if there are lessons to be learned from people that have had bad experiences.

[thebears]

Thanks for the reply, Scout, that's helpful.

[centermid7]

I think the limited company might more accurately be described as "quasi legal" in that if it is formed for the sole purpose of owning land (or a house on that land) then it is not really legal but being overlooked at this time.

[PET]

The real test is that the Thai shareholders prove they actually paid the money from their funds to purchase the property --
if or when the transaction gets officially questioned - it is called risk!!