living in the ‘Land of Smiles’

Chiang Mai, Thailand

Thailand – new draconian laws to DEPORT foreigners who “owns” land illegally

Via: Bangkok Post

Thai ombudsmen is drafting a carrot-and-stick law to protect Thai lands from illegal foreign nominee ownership, while developers and consultants suggest more legal transparency, a longer leasehold period and higher foreigner property taxes to prevent nominees.

Ombudsman Siracha Charoenpanij said the new law would comprise punishment for companies offering advice to foreigners on how to hold Thai property by disguising their legal transaction. This would include law firms and consultants.

The existing law enforced by the Lands Department requires foreigners found holding Thai property to transfer the plot to someone else or sell it within 180 days.

“The new law includes a REWARD to anyone providing information about foreigners owning land through nominees. They will get 20% of the market price of that piece of land as a reward after the plot is sold,” he said at a seminar on foreign property ownership yesterday held by the Thai Appraisal Foundation.

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The new law would also DEPORT foreigners found guilty of holding land plots in Thailand illegally.

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Read more, HERE:

http://www.bangkokpost.com/business/economics/300025/ombudsmen-urge-draconian-new-law

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personal thought:

Some falangs (foreigners) will get around the law by buying; no, no, no, I mean marrying a ‘bar girl’.

Of course if the marriage goes South, and I don’t mean to Malaysia, SHE owns the house and land.

And you?

Possibly/probably –  S.O.L.

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June 30, 2012 - Posted by | Uncategorized | , , , , , ,

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