Nominees will need to find ‘real’ Thai partners, says JFCCT

PROPERTY: Nominees will need to find 'real' Thai partners, says JFCCT - Bangkok Post, October 27, 2009
...In the worst-case scenario, property will be seized by the Lands Department," he said.
"Foreigners now are really panicked. But they need to familiarise themselves with the changes. Everybody always resists change, so the beginning could be a struggle..."

Earlier: Taste of the Thai life: Thailand's property market is still hot and spicy - Daily Mail, June 25, 2009
[There continue to be baffling articles like this coming out of the English press about how easy it is for foreigners to own property in Thailand. The local story is how authorities insist that foreigners cannot own land/property and accusations of a witch hunt to find foreigners who hold land through work around solutions. Also, the traditional method of holding property through a locally created company has been called into question in recent years. Against this backdrop, the English press continues to put out these press release-type articles touting what a great deal Thai property remains for foreigners.]

Earlier: No witch-hunt, says Lands Department - Foreign ownership debate intensifies - Bangkok Post, June 15, 2009
...The Lands Department does not have a policy to scrutinise acquisitions in which illegal use of Thai nominees on behalf of foreigners is suspected, says director-general Anuwat Maytheewibulwut.
We have some regulations and processes to investigate illegality, but not that many. We must respect individual rights and assume individuals will not give fake statements to officials - Anuwat Maytheewibulwut Director-general, lands department
Land ownership revocation cases mostly occur when a complaint or conflict is brought to the department's attention, he said...

Earlier: Land purchase through Thai spouse forbidden: Land Dept - Phuket Gazette, May 27, 2009

Earlier: International Real Estate For Sale In... Thailand - New York Times, May 26, 2009

Earlier: Tourism Increases Property Investment in Thailand - BigNews.Biz, July 16, 2009
[Another bizarre press release... Did you know both tourism and property investment in Thailand has been increasing?]
The world class tourist industry of Thailand attracts re-locators and property investors contributing to the increase in property investment of the country...

This entry was posted in Property and Development. Bookmark the permalink.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.