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  1. #1
    Thailand Expat
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    LAND: Nominee Co. structure - Hunt goes on

    More documents sought in nominee hunt

    KANANA KATHARANGSIPORN
    Inspections of land holdings by companies suspected to be foreign-owned must await documentation from the Business Development Department, according to the Lands Department. Sub Lt Khantachai Vichakkhana, the deputy director-general of the Lands Department, said it was the responsibility of the Commerce Ministry unit to determine the nationality of companies and whether illegal shareholding structures were used.

    Thai law sharply restricts foreign ownership of land. Corporate entities doing so must be majority controlled by Thais. But nominee structures are commonly used to bypass the law, particularly in tourist areas such as Phuket and Pattaya.

    Sub Lt Khantachai said that since last year, provincial land offices have had the authority to inspect companies suspected of having illegal nominee structures.

    If violations are found, provincial governors have the right to direct the companies to sell off the land within 180 days.

    But Sub Lt Khantachai said that before an inspection could be made, information was needed in co-operation with the Business Development Department, which is responsible for corporate registrations.

    ''We cannot check potential nominees until a prosecution is made. In any case, there must be evidence from the Commerce Ministry as well,'' he said.

    The Lands Department directed its provincial land offices last June to submit information on companies that had purchased land or properties in their jurisdiction to the Commerce Ministry for verification of their status.

    To date, no formal report of an illegal nominee structure has been made to the Lands Department.

    Sub Lt Khantachai said Foreign Business Act reforms and tighter enforcement of existing land laws were unlikely to result in a slowdown in the property market.

    ''Actually, what these reforms will do will be to help clamp down on asset laundering in the country,'' he said.

    Kanissorn Navanugraha, the director-general of the Business Development Department, agreed that greater co-operation with the Lands Department was needed to improve enforcement of the law.

    He said the department only forwarded information on various juristic entities to the Lands Department on request, but did not have the right to stipulate whether a nominee structure existed or not.

    ''If a company is suspected of using an illegal nominee structure, we are obligated to report the case to the police and await a formal court ruling,'' Mr Kanissorn said.

    He said the Lands Department was empowered to investigate on its own whether a foreign entity used nominees.

    Bangkok Post 15.02.2007

  2. #2
    watterinja
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    How will this affect the longevity of 'solutions' yourself & various other consultants have promoted for a number of years?

  3. #3
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    William's Avatar
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    what 'longevity' soultions have I promoted?

  4. #4
    watterinja
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    Quote Originally Posted by William View Post
    what 'longevity' soultions have I promoted?

  5. #5
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    better yet, when have I advocated foreign ownership of land in Thailand or the use of any particular mechanism by which to acquire land in Thailand?

    And if you cannot put your money where your mouth is (and show me specific examples of where I have done such) - SHUT THE FUCK UP

  6. #6
    watterinja
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    Quote Originally Posted by William View Post
    better yet, when have I advocated foreign ownership of land in Thailand or the use of any particular mechanism by which to acquire land in Thailand?

    And if you cannot put your money where your mouth is (and show me specific examples of where I have done such) - SHUT THE FUCK UP
    Did you post on AjarnForum as 'Pinky'? If you did, you may well remember the contest about the phrase "Falangs may not own land in Thailand".

    If you are the same person, then you may owe a few folks an apology. Hence the choice of the term 'longevity' of 'solutions'...

  7. #7
    Thailand Expat
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    the phrase "falangs may not own land in Thailand" is clearly wrong. Foreigners can own land in Thailand, in certain circumstances.

    That is not the same as saying I have in any way advocated the use of any particular mechanism in order to own land in Thailand, which is what I understand to mean by I have "promoted" any "solutions" to this issue.

    I have never "promoted" a solution to anything in my life. I have, on a number of occassions set out mechanism others use - but not once have I advocated this as being a sensible and reliable method by which to own land in Thailand.

    So, I say: show me one time where I have "promoted" a "solution" to the topic at hand here. If you cannot, the apology, my dear sir, whould come from you.

  8. #8
    diaw
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    I'll take up the cudgels, dear fellow.

    As 'Pinky' you have advocated the use of various legal structures to assist fellow Falangs to purchase property under the ruse of a company's ability to own land. This is in violation of the essential legal principle that "Falangs may not own land in Thailand".

    You & I debated this point at length on AjarnForum. I asked a respected legal counsel family friend about your view & his advice that it was very dangerous, as in the final analysis, the Thai courts would honour the principle, despite all the wonderful paper window-dressing.

    I told you then, & I'll tell you now - "You are offering dangerous advice". If you choose to continue in your interpretation, so be it - hopefully you would also be so kind as to balance the risk for your clients with a suitable 'pot of cash' - just in case.

  9. #9
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    Who gives a toss what Pinky says if he/she doesn't post here? If you have issues with Pinky's posts, go to Ajarn and slag it out there, please.

  10. #10
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    ^^ you are talking absolute bollocks.

    I have been asked in the past whether or not it is possible to own land via a company structure. I have replied that it has been done and that people do it. That is about a zillion miles away from saying "I suggest you set up a company in order to own land in Thailand".

    Never once have I suggest that anyone own land in Thailand, much less say set up a company to do it.

    On the topic of your legal counsel family friend you and I have discussed this in the past. I told you then I thought they were a fuckwit, and I'll tell you now I think they are a fuckwit. I think they're fuckwits because I think you are a fuckwit - regardless of what your ph.d(s) and IQ may say to the opposite.

    And if you have ever bothered to read anything I have ever written on the topic of land ownership in Thailand (as a foreigner), I think I have always said "never invest more than you are willing to lose, beause that's what you're doing" (or words to very similar effect).

  11. #11
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    I don't think Williams ever "advocated" land ownership, at least in this forum. Quite different from giving out advice for those who are going to do it regardless.

    Most lawyers will give solutions to client requests, putting the stress on the risk involved, but that's hardly advocating solutions.

    The client is usually the one responsible for putting the pressure

  12. #12
    diaw
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    Quote Originally Posted by Whiteshiva View Post
    Who gives a toss what Pinky says if he/she doesn't post here? If you have issues with Pinky's posts, go to Ajarn and slag it out there, please.
    Who gives a toss what you think? You were not the subject of the debate. Go away.

  13. #13
    diaw
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    Quote Originally Posted by William View Post
    ^^ you are talking absolute bollocks.

    I have been asked in the past whether or not it is possible to own land via a company structure. I have replied that it has been done and that people do it. That is about a zillion miles away from saying "I suggest you set up a company in order to own land in Thailand".

    Never once have I suggest that anyone own land in Thailand, much less say set up a company to do it.

    On the topic of your legal counsel family friend you and I have discussed this in the past. I told you then I thought they were a fuckwit, and I'll tell you now I think they are a fuckwit. I think they're fuckwits because I think you are a fuckwit - regardless of what your ph.d(s) and IQ may say to the opposite.

    And if you have ever bothered to read anything I have ever written on the topic of land ownership in Thailand (as a foreigner), I think I have always said "never invest more than you are willing to lose, beause that's what you're doing" (or words to very similar effect).
    Well 'William', I do trust that you & the 'Pinky' fellow are not one-&-the-same ex-pert. You do seem to have a different opinion to that one. Perhaps different opinions for different boards, eh?

    Frankly, I have always found you to be an over-opinioned stuffed shirt who gets his kicks out of being a legal big fish in a small pond. To each his own. My IQ is an obvious sore point for you. Shame.

    If you are indeed 'Pinky' - which I do think is the case - as you once stated that on Ajarn - then you are a two-faced legal weasal... par for the course...

  14. #14
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    Quote Originally Posted by diaw View Post
    Quote Originally Posted by Whiteshiva View Post
    Who gives a toss what Pinky says if he/she doesn't post here? If you have issues with Pinky's posts, go to Ajarn and slag it out there, please.
    Who gives a toss what you think? You were not the subject of the debate. Go away.

  15. #15
    Thailand Expat
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    Quote Originally Posted by diaw View Post
    Quote Originally Posted by William View Post
    ^^ you are talking absolute bollocks.

    I have been asked in the past whether or not it is possible to own land via a company structure. I have replied that it has been done and that people do it. That is about a zillion miles away from saying "I suggest you set up a company in order to own land in Thailand".

    Never once have I suggest that anyone own land in Thailand, much less say set up a company to do it.

    On the topic of your legal counsel family friend you and I have discussed this in the past. I told you then I thought they were a fuckwit, and I'll tell you now I think they are a fuckwit. I think they're fuckwits because I think you are a fuckwit - regardless of what your ph.d(s) and IQ may say to the opposite.

    And if you have ever bothered to read anything I have ever written on the topic of land ownership in Thailand (as a foreigner), I think I have always said "never invest more than you are willing to lose, beause that's what you're doing" (or words to very similar effect).
    Well 'William', I do trust that you & the 'Pinky' fellow are not one-&-the-same ex-pert. You do seem to have a different opinion to that one. Perhaps different opinions for different boards, eh?

    Frankly, I have always found you to be an over-opinioned stuffed shirt who gets his kicks out of being a legal big fish in a small pond. To each his own. My IQ is an obvious sore point for you. Shame.

    If you are indeed 'Pinky' - which I do think is the case - as you once stated that on Ajarn - then you are a two-faced legal weasal... par for the course...
    Put up or shut up. Show me your evidence.

  16. #16
    Thailand Expat
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    Quote Originally Posted by diaw View Post
    Frankly, I have always found you to be an over-opinioned stuffed shirt who gets his kicks out of being a legal big fish in a small pond. To each his own. My IQ is an obvious sore point for you. Shame.
    I am that - and then some.

  17. #17
    Not an expat
    Fabian's Avatar
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    Another important thread anyway (minus the comments).

  18. #18
    Thailand Expat reinvented's Avatar
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    i thought water ninja was diaw?

    IQ is one of the worst indicators of perfomance by the way...

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