Great video. Been to Pattaya once. Stayed at the Royal Cliff. Friends I was with went to party. I went to experience the country and people. Very humbled to have visited there. Cute guy btw.
Yes, you can own a company that holds title to the real estate. But there has to be a valid business purpose for owning the real estate. If it is just a shell company formed for the purpose of owning the house, you're skating on thin ice. Might it work? Yes. But for how long? You are technically in violation. So if the government decides to crack down, you can be screwed.
Every decade or so the government says they will crack down on nominee shareholding structures and everyone freaks out and they drop it. One day they might not drop it. That uncertainty of ownership for such an important asset ought to give anyone pause, despite what people trying to sell real estate might suggest.
Best option in my opinion - 30yr lease hold - avoids the issues with a company and the expense. In the lease, ensure you have the right to sell and develop the land for your use, you own the house under the leasehold, Thai only the land it sits on. If you have a significant other in Thailand, don't get married - you don't actually gain anything in marriage in Thailand except a 50/50 split of assets. In the end if there is a breakup you just gave 50% of everything away and are pretty much guaranteed to lose any landed property you purchased in marriage because as a foreigner you can't own landed property - why even elect to do something like that when most expats are the ones bringing all the money. You don't have to be married to be happy - a marriage license is only a contract that defines the ownership of assets and how they will be divided or inherited - there is zero benefit to marriage in Thailand. At least in the USA, there is a tax benefit, not so in Thailand. You have a wonderful family in Thailand and want to leave everything to them - get a Will in Thailand. If you are currently married to a Thai, your Thai spouse can't be the legal lease holder because now your a legal family and anything within the marriage is joint property - it wouldn't be a valid contract because it was entered into during married and not prior to marriage. If not married they can be the lease holder of the land and grant you the rights to the property for use and development to include outright sales which if there is a falling out between the two of you the property and house remain in your control for the 30yr term which gives you plenty of time to work out next steps. Divorce is a real issue in Thailand between foreigners and Thai's, when the Thai family gets involved, and they will, typically they want everything because they come from very little - they don't want to return to the village, they want to continue having that high end Western/European "HiSo" lifestyle you provided. If you are absolutely going to get married because of whatever reason. Please do yourself a favor and get a prenuptial agreement that states everything you purchased in marriage with your own money is yours and will be treated as separate property - in other words, nothing is split. Never ever get a joint bank account and never ever let your spouse know where your money is and how much you have - never ever keep all your money in Thailand. Keep enough to live 2-3 months at a time and highly consider a separate Thai bank account for your retirement or other Visa cash/banked requirement so it's never spent ensuring you can stay in Thailand, the rest keep in your home country so it can't be touched by anyone but you. You will be simply amazed how fast your bank account will be drained once the sky falls - and all with a smile :)... Land of smiles after all. This is the safest and cheapest way and fits within the legal framework of Thailand with almost no gotchas. Be sure in the leasehold agreement that there are leasehold beneficiaries and clauses in the event of a death so the government doesn't take over administration of the property. None of this is legal advise, consult an attorney - consult several.
Can't help noticing how quickly Mika's pronunciation of 'Pattaya' changed when she realized that Jeff was pronouncing it correctly. I get it - selling to Farang and constantly hearing the way they pronounce the name of the city has forced her to adapt. Smart lady.
must be some REALLY wealthy people buying these as a 2nd or 3rd home. I couldn't imagine spending that kind of money for a house in Thailand. I seriously doubt it is locals paying that kind of money, so much be foreigners.
Hey Jett, appreciate your work and that you try your best to give different views into the thai real estate market. But it is not necessary for your guest to promote questionable info about pattaya (11:30). Pattaya was the opposite of being "packed" during strong covid restrictions. And that takes away legitness from that agent.
The typical tourist spots like Walking Street and Beach Road were dead, yes. I think she was referring to the exodus of Bangkok residents to other cities including Pattaya to escape the lockdown. A lot of my circle went to Hua Hin, Phuket, Samui (and I'd hear about the crazy villa parties people held😄). I myself escaped to Chiang Mai for quite some time.
How is it going to work for foreign investors. Is there going to be a limit or taxes? For example, where I'm from. Foreign buyers had full reign and the market got so crazy that it became unaffordable for regular citizens of that city/country.
Aloha Jett, How is resale value on these homes owned by a foreigner in a thai company? Better than owning a condo I hope. I’m interested in the first one, solid !
The "company-solution" is just illegal, because you have to run a real company with turnover etc. Thailand is getting tight on this kind of solution. What you can do is renting the land for 30 years and own the house on the land. But you can not get ownership of the land if you are not thai!
Steep price for that 2nd property. Design is average at best. Small bedrooms and no yard with an avg sized pool. And close enough to your neighbour to hear their conversations when floating in your pool. No thanks. First one more palatable but 455/K usd? Ouch
Poor answer to the ownership question. The company owns and you a part of the company. Not gonna tie my money up in court trying to fight a foreign company in a foreign country.
Sorry to say a lot of what you have discussed is illegal re. ownership, be on the safe side and don't get fooled . I have lived in Pattaya for 9 years. A condo is OK but today you need to be Thai to own land , that's it ... The government are keeping a close eye on this an the rules can change I a matter of weeks...
@@JettGunther I don's say the you haven't addressed it , I just say to own land in Thailand you need to be a Thai National then there is as of now loopholes which you can utilize but still you don't own the land plot. Never the less a beautiful house and a beautiful price , I would think twice to make such an investment. Keep up your good work
I'm sure it was an accident but let her finish a bit more before you break character and become the agent all of the sudden. Nice video otherwise though.
You need to stop promoting the idea of setting up Thai companies for foreigners to buy such freehold properties. That is fraught with all sorts of risks and frankly terrible 'advice'.
Actually, thank you for pointing that out. I no longer encourage people to set up companies to buy property due to the risks you mentioned and have since gone back to delete whole videos or sections within videos that mention it. This one must have eluded me. I found the section in this video that talks about it and have removed it. It takes a few hours for RUclips to register the changes. I have since invited lawyers onto the channel to cover in great length how to legitimately own property in Thailand and warn about the risks of "grey area" methods. You can check some of them out here: ruclips.net/video/uOSh5IQzdE4/видео.html ruclips.net/video/gadpcWDbIyU/видео.html Cheers.
@@JettGunther I appreciate you replying and your honesty. Hopefully the Thai authorities will come up with a better solution soon for foreigners to invest in such properties. I am personally in the market for a villa around 20m THB but I will not go down the ‘shell company’ route as I know how quickly circumstances can change and the risks involved. If you check out Integrity Legal’s channel, he’s pointed out specific cases where such companies have been shut down and their assets confiscated. Thanks again and all the best.
🏡 Looking for property in Thailand? We'll help you find a place bit.ly/3WIgJJa
@TRAVELER www.numbeo.com/crime/in/Hua-Hin
Great video. Been to Pattaya once. Stayed at the Royal Cliff. Friends I was with went to party. I went to experience the country and people. Very humbled to have visited there. Cute guy btw.
Love the first villa. Awesome series
I love it. Thailand is so gorgeous 😍
Gorgeous property & excellent tour & questions!
Glad you enjoyed it
Yes, you can own a company that holds title to the real estate. But there has to be a valid business purpose for owning the real estate. If it is just a shell company formed for the purpose of owning the house, you're skating on thin ice. Might it work? Yes. But for how long? You are technically in violation. So if the government decides to crack down, you can be screwed.
ruclips.net/user/shortsT4gfQiGnngs?feature=share
Yepp its a "workaround"... and the political situation is chaotic.
Yes, if that person got $$$ to burn, yes. This is not for vacationers but for multi-millionaires that have business in Thailand.
Please explain how Thailand’s politics has exchanged property ownership laws. I’d love to hear of actual examples.
Every decade or so the government says they will crack down on nominee shareholding structures and everyone freaks out and they drop it. One day they might not drop it. That uncertainty of ownership for such an important asset ought to give anyone pause, despite what people trying to sell real estate might suggest.
Love these in person showings khun Jett 🙏
Glad you like it :)
Best option in my opinion - 30yr lease hold - avoids the issues with a company and the expense. In the lease, ensure you have the right to sell and develop the land for your use, you own the house under the leasehold, Thai only the land it sits on. If you have a significant other in Thailand, don't get married - you don't actually gain anything in marriage in Thailand except a 50/50 split of assets. In the end if there is a breakup you just gave 50% of everything away and are pretty much guaranteed to lose any landed property you purchased in marriage because as a foreigner you can't own landed property - why even elect to do something like that when most expats are the ones bringing all the money. You don't have to be married to be happy - a marriage license is only a contract that defines the ownership of assets and how they will be divided or inherited - there is zero benefit to marriage in Thailand. At least in the USA, there is a tax benefit, not so in Thailand. You have a wonderful family in Thailand and want to leave everything to them - get a Will in Thailand.
If you are currently married to a Thai, your Thai spouse can't be the legal lease holder because now your a legal family and anything within the marriage is joint property - it wouldn't be a valid contract because it was entered into during married and not prior to marriage. If not married they can be the lease holder of the land and grant you the rights to the property for use and development to include outright sales which if there is a falling out between the two of you the property and house remain in your control for the 30yr term which gives you plenty of time to work out next steps. Divorce is a real issue in Thailand between foreigners and Thai's, when the Thai family gets involved, and they will, typically they want everything because they come from very little - they don't want to return to the village, they want to continue having that high end Western/European "HiSo" lifestyle you provided.
If you are absolutely going to get married because of whatever reason. Please do yourself a favor and get a prenuptial agreement that states everything you purchased in marriage with your own money is yours and will be treated as separate property - in other words, nothing is split. Never ever get a joint bank account and never ever let your spouse know where your money is and how much you have - never ever keep all your money in Thailand. Keep enough to live 2-3 months at a time and highly consider a separate Thai bank account for your retirement or other Visa cash/banked requirement so it's never spent ensuring you can stay in Thailand, the rest keep in your home country so it can't be touched by anyone but you. You will be simply amazed how fast your bank account will be drained once the sky falls - and all with a smile :)... Land of smiles after all.
This is the safest and cheapest way and fits within the legal framework of Thailand with almost no gotchas. Be sure in the leasehold agreement that there are leasehold beneficiaries and clauses in the event of a death so the government doesn't take over administration of the property. None of this is legal advise, consult an attorney - consult several.
Thank you so much for this advise and so true. Men you better listen and read very carefully or lose what you worked for all your life.
Wow, Bishop! What a thoughtful and meaningful comment. Thank you for sharing.
@@HolymanofGodSD do what you got to do. Cry later. 😀
wow 美国人真牛，love this research by you
Wow I love the first one!
great video and very informative Jett. thank you, keep up the good work. 👍👍👍
i will subscribe...
Love this now this is modern
Can't help noticing how quickly Mika's pronunciation of 'Pattaya' changed when she realized that Jeff was pronouncing it correctly. I get it - selling to Farang and constantly hearing the way they pronounce the name of the city has forced her to adapt. Smart lady.
I'll continue buying into condos for short term rentals. At least I own those 100%. 🤷🏿♂️ Nice villa though, very modern.
Wow so beautiful
Hi Jett, what is the property tax the first house shown? Thanks
must be some REALLY wealthy people buying these as a 2nd or 3rd home. I couldn't imagine spending that kind of money for a house in Thailand. I seriously doubt it is locals paying that kind of money, so much be foreigners.
Thailand has several rich people. U cant imagine. But again lifestyle is far far better n cheaper than west.
Hey Jett, appreciate your work and that you try your best to give different views into the thai real estate market. But it is not necessary for your guest to promote questionable info about pattaya (11:30). Pattaya was the opposite of being "packed" during strong covid restrictions. And that takes away legitness from that agent.
The typical tourist spots like Walking Street and Beach Road were dead, yes. I think she was referring to the exodus of Bangkok residents to other cities including Pattaya to escape the lockdown. A lot of my circle went to Hua Hin, Phuket, Samui (and I'd hear about the crazy villa parties people held😄). I myself escaped to Chiang Mai for quite some time.
Proud of your guys! Mika, you are rock, my sis :)
Thank you so much!!
How is it going to work for foreign investors. Is there going to be a limit or taxes?
For example, where I'm from. Foreign buyers had full reign and the market got so crazy that it became unaffordable for regular citizens of that city/country.
Hi, so...what type of company or how much investment require in order to own the house land outright ? Thanks.
Do they are also, sell architect plan for this houses.
very nice but wow led lights suck
Aloha Jett,
How is resale value on these homes owned by a foreigner in a thai company? Better than owning a condo I hope. I’m interested in the first one, solid !
If you anonymously list via an agent, I assume sale price should be based on fair market bids.
Damn wish I could get a house like that for this price in nz
very nice
What about a Norwegian company?
There is a new law for foreigners owing land but not sure what the eligibility is. Anyone know?
It got shot down
@@JettGunther so can foreigners buy a house in Thailand
i feel like it would make more money if the neighborhood was up to standard with the house IMO
Owning property through a company- what’s the tax going to be like?
The "company-solution" is just illegal, because you have to run a real company with turnover etc. Thailand is getting tight on this kind of solution. What you can do is renting the land for 30 years and own the house on the land. But you can not get ownership of the land if you are not thai!
Steep price for that 2nd property. Design is average at best. Small bedrooms and no yard with an avg sized pool. And close enough to your neighbour to hear their conversations when floating in your pool. No thanks. First one more palatable but 455/K usd? Ouch
In other words, you can't afford one. Got it
@@Facts_In60Seconds So in your world if something is worth max $375/K you happily pay $455/K ok, got it. I've got a house for sale...
The Serenity villa has a wrong price, a single villa starts at 23 millions.
where i live 450k buys you a pos 1 bed condo
Postage stamp kitchen
Unless your're a Thai citizen you can't own it so why don't you all tell us what the land lease is instead of the price???
They know how to make a home! 😭 for a price that is very much worth!
🔥
There is one type of house that foreigners can own. Hint, there is no actual land deed.
Poor answer to the ownership question. The company owns and you a part of the company. Not gonna tie my money up in court trying to fight a foreign company in a foreign country.
Nothing in Thailand is easy.
Rules change day-to-day.
Fyi foreign property ownership laws haven’t changed.
See:
Thai Real Estate Lawyer Answers Your Property Buying Questions
ruclips.net/video/R_RVuR5ZqVw/видео.html
@Long nguyen So?
My above comment still applies.
Please not to be mean, but you need to let her talk more than you., she is the one doing the showing.,,,,, just saying. not to be mean either,......
No point to buy a house you will never own. Better to rent
Very pricy. I don't think the locals can afford that.
What’s that in £
You won't own it unless you are married to a thai ' elbow low kick left hook dude
Sorry to say a lot of what you have discussed is illegal re. ownership, be on the safe side and don't get fooled . I have lived in Pattaya for 9 years. A condo is OK but today you need to be Thai to own land , that's it ... The government are keeping a close eye on this an the rules can change I a matter of weeks...
We addressed this in detail here. Full transparency ruclips.net/video/uOSh5IQzdE4/видео.html
@@JettGunther I don's say the you haven't addressed it , I just say to own land in Thailand you need to be a Thai National then there is as of now loopholes which you can utilize but still you don't own the land plot. Never the less a beautiful house and a beautiful price , I would think twice to make such an investment. Keep up your good work
Can american but property in Thaialand
I’m 99% sure you Only can own 49% The rest is history?
Foreigners CANNOT own in Thailand. If they buy land, the deed needs to be in a Thai national.
They want foreigner money but the home can't really be owned! Playing both sides lol no thanks!
I'm sure it was an accident but let her finish a bit more before you break character and become the agent all of the sudden. Nice video otherwise though.
Pa'tiya or pa'taya😂
THANKS FOR SHARING 🔍💯 INFORMATIVE AND BENEFICIAL
Sure. But would u trust their govt long run
...no. rent.
You need to stop promoting the idea of setting up Thai companies for foreigners to buy such freehold properties. That is fraught with all sorts of risks and frankly terrible 'advice'.
Actually, thank you for pointing that out. I no longer encourage people to set up companies to buy property due to the risks you mentioned and have since gone back to delete whole videos or sections within videos that mention it. This one must have eluded me. I found the section in this video that talks about it and have removed it. It takes a few hours for RUclips to register the changes.
I have since invited lawyers onto the channel to cover in great length how to legitimately own property in Thailand and warn about the risks of "grey area" methods. You can check some of them out here:
ruclips.net/video/uOSh5IQzdE4/видео.html
ruclips.net/video/gadpcWDbIyU/видео.html
Cheers.
@@JettGunther I appreciate you replying and your honesty. Hopefully the Thai authorities will come up with a better solution soon for foreigners to invest in such properties. I am personally in the market for a villa around 20m THB but I will not go down the ‘shell company’ route as I know how quickly circumstances can change and the risks involved. If you check out Integrity Legal’s channel, he’s pointed out specific cases where such companies have been shut down and their assets confiscated. Thanks again and all the best.
If you can afford a $450,000 house, avoid Thailand.
Why?
@@JettGunther The same reason Hong Kong real estates price is dropping 15% a year
Thailand is one of the worst country to invest in property lol