Archive for the ‘Readingroom’ Category

Property Tax

Taxes & Government Fees for Sale  of Real Property
“To be or not to be tax wise, that is the question”
By Ponthep Werachon

“To Be Or Not To Be Tax Wise” is the question of tax planning to avoid excessive tax implications. “Tax Avoidance” is not “Tax Evasion”.

“Tax Evasion” is punishable by the laws for involvement of fraudulent act while “Tax Avoidance” is not punishable if it involves only planning of the most wise tax structure. However, it is not easy to ascertain delineation between “Tax Avoidance” and “Tax Evasion”. The untouchable “Al Capone” was put in jail by the IRS for “Tax Evasion”, not for other felonies by the Fibbies. The IRS in USA can ambush you everywhere with their commandos.
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Buying Property

WHAT FOREIGNERS SHOULD KNOW ABOUT ACQUISITION OF PROPERTY
By Ponthep Werachon

There are more and more foreigners coming to Thailand for their long-stay. Most of them are middle age men dreaming of package of happiness with beautiful house with lovely family. With the reasonable cost of living, Pattaya seems to be more and more the best destination for foreigners to enjoy their hibernation.
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A Bandits Tale

“Only the truth shall set you free!”
Don”t Get your Head Blown Off!
By Ponthep Werachon

“You will know the truth, and the truth will make you free”, a quotation from the Bible which is always timely in Pattaya. This word of wisdom is parallel with the saying of Lord Buddha “One who acts on truth is happy in this world and beyond”.

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The Land Code

The Land Code (1954) Governing Foreign Ownership of Land

“Foreigner” means either a natural or individual person having no Thai nationality or a juristic person (legal entity) which fall into Section 97. – of the Land Code.

A foreigner either individual or juristic person cannot have the ownership of land except in the following circumstances: –
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Owning Land by Company Take Over

Legal pitfalls for acquisition of land by taking over an existing company
It’s a piece of cake if you exercise your prudence!

“Hell hath no fury than a government scorned”. The new policy of the Land Department to investigate every company with foreign shareholders and director applying for the ownership of land makes many foreigners suspicious about their future in Pattaya. Our article is not written with the aim to panic the property market which is the bread and butter for all of us. Only the truth shall set us free from all dilemmas. Nobody can deny the rights of foreigners to have the access to the truth.

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Only New Companies Affected

Only new companies with foreign shareholding who apply for land ownership are effected.

The Circular Letters of the Ministries of Interior and Commerce affecting Foreign Ownership

“Modus Operandi” of the two Musketeers to Investigate Thai Nominee Shareholders in Foreign Jointly Owned Companies

“Dossiers” which should not be “Secret” for all Property Buyers in Pattaya

The letter dated 15th May 2006 of the Ministry of Interior creates panic for many foreign property buyers in Pattaya to barter their last castles for horses. The destiny of this retreat city always depends upon rumor mongers who even said that Thai laws can be changed over night to expropriate land from all foreigners. The laws and regulation should not be retroactive to existing companies already owning land before this letter. If the government deems these existing companies violate the restriction under the Land Code, these companies will be legally forced to sell their lands in question. All monies from the sale lands will be returned to these foreigners

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Legal Loop hole or Black Hole?

Legal Loop Hole or Legal Black Hole”

The Fineline between the “Legal Loophole” and “Legal Black Hole” for Property Buyers in Pattaya

The Final Frontier of “Justice”

“Money is a Misery” should be the axiom of the Thai government who makes many day-to-day policies to stop money coming into the country. They scare of everything and point the finger around. A gun kills no man but it is a man who kills. Is it comparable to money

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The COUP

The COUP Aftermath

Popular Militarization of Justice and Law Enforcement
Any “Deep Impact” on Foreigners in Pattaya

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The COUP II

POST-COUP EFFECTS

Mission against “Conspiracy of Nominees”, Any “Theory” implicating Foreigners in Pattaya”

“The Lesser of Two Evils” should be the right expression to depict the feelings of Thai people who are stigmatized by the international community for the paradox of our democracy. The militarized mission was well accomplished by toppling the venal regime.

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New Policy of the BOT

The New Draconian Policy of the Bank of Thailand

30% Deduction for Incoming Monies from Aboard

Any Misery for Property Buyers in Pattaya

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