Integrity Legal

A Thai prenuptial agreement (also referred to as a Thai prenup) can provide a great deal of protection for individuals should a marital union be dissolved. A premarital agreement can also be very beneficial because it can provide certainty and transparency for the parties to a marriage. That said, a prenuptial agreement (Thai or otherwise) should be drafted in such a way that it provides protection for one’s property or real estate holdings as well as corporate assets and financial instruments. In Thailand, ensuring that a prenuptial agreement comports with all applicable formalities can be difficult which is why it is always prudent to consult with a Thai lawyer regarding such matters. For those foreign nationals with assets outside of the Kingdom of Thailand it may also be wise to consult with an attorney in the jurisdiction where one resides or maintains property in order to take all reasonable measures to ensure the integrity of one’s estate.

In Thailand, a prenuptial agreement must be registered at the time of the marriage in order for it to be enforceable by Thai courts. In a way, it may be better to think of prenuptial agreements as simply “nuptial  agreements” as the agreement does not exist until the simultaneous registration of that document and the marriage. Many Americans in Thailand opt to register a prenuptial agreement prior to the marriage that will act as a basis for a US Marriage Visa.

Corporate Assets

For those with corporate assets in the form of stocks, bonds, mutual funds, or options it is always prudent to seek information regarding a prenuptial agreement as such an agreement could protect one’s corporate assets in the event of a marital dissolution. In Thailand, those who have an ownership interest in a Thai company are wise to research prenuptial agreements prior to marriage in order try to maintain one’s holding in the event of a divorce.

Thai Property

Although foreign nationals cannot own land in Thailand, there are other property interests that one may have pursuant to Thai law, these include, but are not limited to: Thai Condo ownership, Thai usufructs, Thai 30 year leases, etc. Those with Thai real estate should consider a Thai prenup prior to marriage registration.

Marriage is a major event in one’s life. It can also have a significant impact upon the legal posture of one’s assets and interests. Therefore, those with an eye towards marriage should consult with a family lawyer within one’s local jurisdiction prior to marriage registration in order to help ensure that one’s assets are properly protected.

Tags: prenuptial agreement Thailand, Thai Company, Thai prenuptial agreement, Thai Property, Thai Real Estate, Thailand Marriage, Thailand Marriage Registration, thailand prenuptial agreement, Thailand Property, Thailand Property Law, Thailand Real Estate, Thailand Real Estate Law
Posted in Thai Family Law, Thailand Business, Thailand Condo, Thailand Marriage Registration, Thailand Property, Thailand Real Estate, Thailand company, prenuptial agreement | No Comments »

In an effort to provide information upon which individuals can make informed decisions the following is a brief overview of the concept of limited liability and its practical applications. The following is a direct quote from Wikipedia:

Limited liability is a concept whereby a person’s financial liability is limited to a fixed sum, most commonly the value of a person’s investment in a company or partnership with limited liability. In other words, if a company with limited liability is sued, then the plaintiffs are suing the company, not its owners or investors. A shareholder in a limited company is not personally liable for any of the debts of the company, other than for the value of his investment in that company. This usually takes the form of that person’s dividends in the company being zero, since the company has no profits to allocate. The same is true for the members of a limited liability partnership and the limited partners in a limited partnership.^[1] By contrast, sole proprietors and partners in general partnerships are each liable for all the debts of the business (unlimited liability).

Although a shareholder’s liability for the company’s actions is limited, the shareholder may still be liable for its own acts. For example, the directors of small companies (who are frequently also shareholders) are often required to give personal guarantees of the company’s debts to those lending to the company. They will then be liable for those debts in the event that the company cannot pay, although the other shareholders will not be so liable. This is known as co-signing.

The legal structures used by individuals in an effort to enjoy limited liability have changed over the course of recent years. In the relatively distant past, many American jurisdictions required a great deal of formality when granting limited liability. In recent years, legislative measures have been taken in an effort to make conferment of limited liability more available to larger numbers of people and enterprises.

The creation of the Limited Liability Company (also known by its acronym LLC) was a watershed moment in American jurisprudence. To quote Wikipedia again:

A limited liability company (LLC), also known as a company with limited liability (WLL), is a flexible form of business enterprise that blends elements of partnership and corporate structures. It is a legal form of business company, in the law of the vast majority of United States jurisdictions, that provides limited liability to its owners. Often incorrectly called a “limited liability corporation” (instead of company), it is a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC, although a business entity, is a type of unincorporated association and is not a corporation. The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. It is often more flexible than a corporation and it is well-suited for companies with a single owner.

It is important to understand that limited liability does not imply owners are always fully protected from personal liabilities. Courts can and do pierce the corporate veil of LLCs when some type of fraud or misrepresentation is involved, or under certain situations where the owner uses the company as an “alter ego.”

As can be inferred from the above quotation, Limited Liability Companies are an optimal tool for business in the global information age as they provide flexibility as well as mobility for an individual or small group of individuals seeking to provide goods and services to niche markets in the international arena. That said, there are certain legal issues that must be addressed when incorporating any venture and, as straightforward as a US LLC may first appear, there are formalities that must be adhered to when one wishes to organize an American LLC.

For related information please see: US Company Registration.

Tags: American Corporate LAw, American Limited Liability Law, American LLC, Limited Liability, Limited Liability Companies, Limited Liability Company, Limited Liability Company Law, Limited Liability Jurisprudence, United States Limited Liability Law, US Company Registration, US Corporate Law, US LLC
Posted in Thailand Business, US Business, US Company Registration, US LLC | No Comments »

In a recent posting on the website ThaiVisa.com the following was announced:

CHON BURI:– Immigration police here have arrested a Belgian man for having allegedly extorted money from his fellow Belgians by deceiving them that he is a police officer and advisor to the Belgian ambassador. Pol Col Athiswis Kamolrat, commander of the Chon Buri Immigration Police, held a press conference Thursday to announce the arrest of Jacobs Marc R.

Athiswis said the immigration police were asked by the Belgian Embassy in Bangkok to help make the arrest after several Belgian tourists filed complaints with the embassy that they were extorted out of money by Marc. Athiwis said Marc was arrested at his rented room in Bang Lamung district.

It is interesting to note the “tough” stance being taken by Thai Immigration authorities with regard to foreign criminals. It would appear as though Thai authorities are increasingly concerned with eradication of the foreign criminal element in the Kingdom. In a recent blog posting this author noted that the Royal Thai Immigration Police are taking measures to integrate their systems with those of the US and the international law enforcement community. It remains to be seen how effective this initiative will be in ascertaining the criminal history of foreign nationals in Thailand, but one can easily assume that Thai authorities will be placed on better notice of foreign criminals in the Kingdom.

In another story on the Pattaya One News website the following was reported:

Political unrest hit the tourism industry hard in May, causing arrivals and hotel occupancy to plummet in the central and northern provinces, says the Bank of Thailand.

Unfortunately, the recent political turmoil caused many setbacks for both businesses in and around Bangkok as well as the Thai tourism industry as a whole. Although the Thai government has been taking steps to assist businesses impacted by the recent unrest many feel that recovery will likely be slow and incremental. The problem is probably exacerbated by the worldwide economic crisis which has been particularly acute in countries such as the United States as well as parts of the European Union.

Thailand remains a strong economic player in Southeast Asia, but the confluence of recent events, both local and global, have caused a great deal of strain on the Thai business community. However, many feel that Thailand’s economy and tourism sectors are resilient and can overcome these recent obstacles.

For related information please see: warrant.

Tags: crime in Thailand, Extortion, News, Thailand Business, Tourism in Thailand, warrant
Posted in News, Thailand Business | No Comments »

In a recent posting on ThaiVisa.com, this issue of Thailand’s economic situation was discussed. In recent months, Thailand has been the victim of political turmoil, but many are hopeful that the future will bring tranquility and economic progress. To quote the aforementioned posting:

Bank of Thailand (BOT) Deputy Governor Bandid Nijathaworn yesterday listed the five factors as the global economic momentum, tourism recovery, drought conditions, trends in the policy interest rate and access to funding by small and mediumsized enterprises (SMEs). He said businesses, especially SMEs, must monitor these indicators closely, so they can adjust quickly to any situation. Bandid made his remarks at a seminar entitled “Thai SMEs in the Era of a Free Asian Economy”, hosted by Bangkok Bank. He said the first factor was whether the global economy would enjoy a healthy recovery.

The US economy has yet to pick up fully, while some European countries are experiencing public debt problems. However, many Asian countries are seeing strong economic growth, so if the US and European economies do not pick up more in the second half, Thai exports will have to focus more on Asian markets.
The second factor is the tourism industry. It recovered in six months after the 2003 Sars epidemic, five months after the 2004 tsunami and seven months after the 200809 [sic] political turmoil. It is expected to take six months to recover from the latest round of political turmoil, but that will also depend on the global economy and government measures to entice tourists back to Thailand. The third factor is the draught, and it remains to be seen how that will play out. The fourth one is the policy interest rate, which has been kept at a low 1.25 per cent in a bid to boost economic recovery. Many times, the BOT has indicated that if the domestic economy recovers and the global economic crisis abates, it may consider increasing the rate at an appropriate time.

The fifth factor that could affect second half economic growth is SMEs’ loan accessibility. SMEs have yet to enjoy full access to loans, which means they still suffer a high cost burden. Bandid said many commercial banks had stepped in to help SMEs gain easier access to loans. He believes the country’s economy will grow 45 per cent this year. Bandid said while Thailand’s economy showed positive growth in the first quarter, the economy was affected in the second quarter by the political turmoil. Tourism suffered severely from the chaos, but other key sectors were also hurt, such as agriculture, exports and real estate.

Many agree that it will be interesting to watch Thailand’s recovery as many are of the opinion that Thailand is set for further economic growth. Many Expatriates feel that although tourism figures are lower than desired the country’s many natural attractions will act as a catalyst for new growth in tourism. Furthermore, Thailand boasts of better infrastructure relative to many of the other jurisdictions in the region. Also, Thailand’s position as a key actor in the Association of SouthEast Asian Nations (ASEAN) will likely result in a better overall position for the Thai economy moving forward, when compared with other countries in the region.

Finally, Thailand’s positive relationships with countries such as the United States and Japan, as embodied in the US-Thai Amity Treaty and the Japanese-Thai Free Trade Agreement, respectively, are indicative of Thailand’s ability to effectively negotiate longstanding mutually beneficial trade arrangements. Some believe that Thailand’s economic situation remains poised for growth notwithstanding recent disturbances.

For information about business travel to Thailand please see: Thailand business visa.

Tags: Amity Treaty, Thai Business News, Thailand Business News, Thailand Business Visa, US-Thai Treaty of Amity
Posted in Amity Treaty, General Legal Information, News, Thailand Business | No Comments »

To see this post in English please see: LGBT immigration

ประเด็นที่มีการถกเถียงบ่อยๆบนบอร์ดนี้คือ สิทธิตามกฎหมายคนเข้าเมืองของ เลสเบี้ยน เกย์ ไบเซ็กชวล และ บุคคลแปลงเพศ ไม่นานมานี้กระทรวงต่างประเทศของสหรัฐอเมริกาประกาศระเบียบปฏิบัติใหม่ที่จะนำมาปรับใช้แก่ผู้ที่ต้องการขอมีหนังสือเดินแทนและแจ้งเกิดนอกราชอาณาจักร  เพื่อให้สอดคล้องกับการเปลี่ยนเพศ  ด้านล่างคือข้อความที่ตัดทอนมาโดยตรงจากประกาศ

กระทรวงต่างประเทศสหรํฐมีความยินดีในโอกาสเดือนแห่งศักดิ์ศรีชาวเกย์ เลสเบี้ยน ไบเซ็กชวล บุคคลแปลงเพศ ที่จะประกาศระเบียบนโยบายใหม่เกี่นวกับการเปลี่ยนเพศในหนังสือเดินทางและการแจ้งเกิดนอกราชอาณาจักร เริ่มตั้งแต่วันที่ 10 มิถุนายน เมื่อผู้ขอหนังสือเดินทางแสดงใบรับรองการผ่านการวินิจฉัยของแพทย์ว่าเป็นผู้ที่แปลงเพศโดยถูกต้องทางการแพทย์ หนังสือเดินทางใหม่จะออกให้ตามเพศใหม่ ระเบียบนี้รวมถึงรายละเอียดของข้อมูลที่ต้องมีในใบรับรอง มีความเป็นไปได้ที่จะขอหนังสือเดินทางที่มีกำหนดอายุหากว่ารายงานของแพทย์แสดงว่าผู้ขอหนังสือเดินทางอยู่ในระหว่างกระบวนการแปลงเพศ ไม่ต้องใช้บันทึกการรักษาพยาบาล การผ่าตัดแปลงเพศไม่จำเป็นต้องมีขึ้นก่อนการออกหนังสือเดินทาง การแจ้งเกิดนอกราชอาณาจักรยังสามารถเปลี่ยนแปลงแก้ไขได้ตามเพศใหม่ เช่นเดียวกับผู้ขอหนังสือเดินทางคนอื่นๆ เจ้าหน้าที่ออกหนังสือเดินทาง ณ สถานทูต และกงสุลในต่างประเทศ และ ตัวแทนและศูนย์ออกหนังสือเดินทางในประเทศจะถามคำถามที่จำเป็นเพื่อขอข้อมูลเกี่ยวกับสัญชาติและลักษณะจำเพาะบุคคล

นโยบายและวิธีปฏิบัติใหม่นี้ตั้งอยู่บนพื้นฐานและการปนะนำของ องค์กรสุขอนามัยบุคคลแปลงเพศโลก (WPATH) รับรองโดยแพทย์สภาอเมริกันให้เป็นผู้มีอำนาจในเรื่องนี้

ถึงแม้ว่าประกาศนี้จะทำให้เกิดวินาทีแปลงโฉมของสิทธิผู้แปลงเพศ ยังคงมีหลายๆคนที่รู้สึกเครียดกับปัญหาในการขอวีซ่าเข้าอเมริกาให้แก่คู่รักที่มีความสัมพันธ์แบบรักร่วมเพศโดยถูกต้อง ในปัจจุบัน กฎหมายเช่น พระราชบัญญัติเพื่อการสมรส ( DOMA) ยังไม่มีผลประโยชน์ทางกฎหมายคนเข้าเมืองสำหรับคู่สมรสร่วมเพศต่างสัญชาติ ในขณะที่บุคคลเพศเดียวกันได้รับผลประโยชน์ตามกฎหมายคนเข้าเมืองทั้งที่สมรสภายใต้เงื่อนไขเดียวกับคู่สมรสเพศเดียวกัน หลายคนรู้สึกว่าความแตกต่างนี้ไม่เป็นไปตามรัฐธรรมนูญและผิดกฎหมาย อย่างไรก็ตามประเด็นนี้ยังไม่ได้มีการวิเคาระห์ในศาลอเมริกัน

มีนักนิติบัญญัติอเมริกันบางท่านที่พยายามผลักดันร่างกฎหมายเพื่อยุติความไม่เท่าเทียมกันนี้ เช่นพระราชบัญญัติรวมครอบครัว หลายคนหวังว่า การปฏิรูปกฎหมายคนเข้าเมืองให้ครอบคลุมจะรวมเอาข้อบัญญัติเกี่ยวกับสิทธอทางวีซ่าของคู่รักเพศเดียวกันต่างสัญชาติเข้าไปด้วย

K1 วีซ่า

Tags: DOMA, K1 วีซ่า, lgbt immigration, LGBT passport, Passport transgender, same sex visa, US Passport Transgender
Posted in Thailand Business, สถานทูตสหรัฐอเมริกาประจำประเทศไทย, ้วีซ่าอเมริกาจากประเทศไทย | No Comments »

Recently, the website Thaivisa.com has reported that the Thai Ministry of Foreign Affairs has announced that the Tourist visa waiver program will be extended. The following is a direct quote from Thaivisa.com:

“Thailand extends tourist visa fee exemption scheme until 31 March 2011

BANGKOK: — The Royal Thai Government has extended the tourist visa fee exemption scheme that had expired in March 2010. As a result of the decision, foreign citizens that qualify for a tourist visa are not subjected to a visa fee. The exemption scheme will be in effect from 11 May 2010 until 31 March 2011 (the fee exemption is not extended to other types of visas).

For further information please contact the Consular Department, Ministry of Foreign Affairs of Thailand (662-981-7171)or the Royal Thai Missions or visit Visas and Travel Documents webpage.”

Although the impact of this program remains to be seen it can be assumed that this can only benefit the Thai Tourism sector, particularly in light of the recent disturbances in Bangkok. Hopefully, this fee waiver, along with a concerted effort by Thai Tourism authorities will lead to an increase in the annual number of tourists traveling to the Kingdom of Thailand.

It should be noted that this will likely not have any impact upon the fees associated with other categories such as the O visa and the ED visa. However, business travelers to Thailand still seem to be applying for the Thai business visa with the same frequency as was the case prior to the recent slump of travelers to Thailand.

Those interested in obtaining a Thai tourist visa should contact the nearest Royal Thai Embassy or Consulate. In the immediate vicinity of the Kingdom of Thailand the most popular destinations for “visa runs” are Laos, Malaysia, and Myanmar. Although Cambodia is a frequent destination for Thai visa runners it is not generally the location of choice for those wishing to obtain a new visa, but is instead rather popular for those who simply wish to travel to the border and get stamped in and out of Thailand.

The Royal Thai Consulate in Penang was once a popular locale for “visa runs,” but fewer visa runners seem to be using this post since they seem to only allow issuance of one Tourist visa per applicant. Recently the Thai Embassy Kuala Lumpur began requiring a that applicants have a work permit with a rather lengthy period of validity remaining  when applying for a 1 year Thailand business visa. This has caused many who seek 1 year Thai visas to opt to seek such travel documents at other Consulates.

For further information please see: Thailand Tourist visa.

Tags: Thai Business Visa, Thai Consulate Penang, Thai ED Visa, Thai Embassy KL, Thai Embassy Kuala Lumpur, Thai O Visa, Thai Visa, Thailand Business Visa, Thailand Embassy Kuala Lumpur, Thailand Visa
Posted in Thai Embassy Kuala Lumpur, Thailand Business, Thailand Embassy, Thailand Visa, Upcoming Legislation | 16 Comments »

In previous posts, this author has discussed visa runs and border runs. Another common method of obtaining lawful status in the form of a Thai visa is by traveling to Thai Embassies and Consulates outside of the Kingdom of Thailand. This can be a difficult endeavor for some, but the difficulty can be increased as Embassies and Consulates change their internal rules frequently. This is a by-product of doctrines similar to that of Consular Absolutism also known as Consular NonReviewability. This doctrine states, in a nutshell, that Consular Officers are given wide latitude to use their own discretion when making factual determinations about visa issuance.

Recently, this author has learned that the Royal Thai Embassy Kuala Lumpur will no longer issue the 1 year multiple entry Thai business visa to those with a work permit that is valid for less than 7 months. In the past, it was routine to see the 1 year Thailand business visa issued to those with a valid work permit regardless of the duration of its validity. Now, it seems that only a 90 day business visa will be granted to those with a Thai work permit that is valid for less than 7 months.

In recent years, the Thailand work permit and the Thailand visa have been effectively “decoupled” in the sense that one is no longer necessarily dependent upon the other. For a long period of time one had to have a work permit in order to obtain a Thai visa extension. Once that extension was obtained one needed to then extend the work permit so that the two documents’ validity were in sync. This has changed as the Ministry of Labour is more apt to grant a 1 year work permit to first time applicants and then the applicant can easily obtain a visa extension. The side effect of this system is that Thai Embassies and Consulates are increasingly less willing to issue one year Thai visas since their personnel view the decision regarding issuance of such a long term travel document ought to be made by the Royal Thai Immigration Police in the Kingdom of Thailand.

When analyzed, this policy makes sense as the Royal Thai Immigration Police in Thailand are often better equipped to adjudicate visa extension requests. However, there are often very compelling reasons why an applicant would wish to obtain a 1 year multiple entry visa from outside of Thailand. One notable reason, such a travel document would not require the issuance of a Thai Reentry Permit as would be necessary if a one year visa extension were issued.

It should be noted that each Thai Consular and/or Diplomatic Post has a different set of rules with regard to visa issuance so what is the rule at one post may not be the same at another.

Tags: Consular Absolutism, Consular Nonreviewability, Royal Thai Embassy, Royal Thai Embassy Kuala Lumpur, Thai Embassy KL, Thai Embassy Kuala Lumpur, Thai Immigration, Thai Visa, Thai Visas, Thai Work Permit, Thailand Embassy Kuala Lumpur, Thailand Immigration, Thailand Visa, Thailand Visas, Thailand Work Permit, Visa Thailand, work permit Thailand
Posted in Legal Opinion, Thai Embassy Kuala Lumpur, Thailand Business, Thailand Embassy, Thailand Visa | No Comments »

In a recent posting of the website ThaiVisa.com, the issue of Thai tourist was discussed in the context of Thai Immigration. Frequent readers of this blog will remember that until March of this year, Thai Tourism officials, in conjunction with the Ministry of Foreign Affairs, had been granting tourist visas to Thailand free of charge. Apparently, this program is to be extended. The following is quoted from ThaiVisa.com:

“The Ministry of Tourism and Sports has extended tourism stimulus measures for one year until 31 March 2011 to assist tourism related entrepreneurs who were affected from the demonstration of the United Front of Democracy Against Dictatorship (UDD). Tourism and Sports Minister Chumpol Silapa-archa announced on Thursday that the ministry has resolved to extend the assistance measures to help tourism related entrepreneurs while road show activities must be organized on a continuous basis to further stimulate tourism. The stimulus measures include the exemption of visa fees for foreign tourists, travel insurance for foreign tourists of not more than 10,000 USD, low interest rate loans, and extension of loan payment periods.”

Hopefully, these measures will provide a benefit to Thailand’s struggling tourism sector which will likely be adversely impacted by the unrest in Bangkok that has occurred over the recent weeks. The report went on:

“The minister added that the number of tourists travelling [sic] into Thailand at airports in general have not decreased, but on the other hand, is more than the number in the same period last year because the figure last year was very low. Mr Chumpol admitted that tour bookings in Bangkok would be affected from the mass rally of the UDD now taking place at Ratchaprasong Intersection. However, those in other areas, especially in the southern islands of Phuket and Samui would not be affected.”

This author would argue that although Tourism has been impacted by recent events in Thailand. There may be another explanation for the seemingly lower tourism figures (or at least the lower numbers of people pursuing Thai Tourist visas). One of the causes could be the fact that more and more tourists in Thailand are “Long Stay” tourists, meaning that they prefer to remain for 3,6, 9, or even 12 months at a time. Many such travelers prefer to come to Thailand using an O visa as such a visa can be granted with a validity as long as one year. Others prefer to use a Thailand business visa. A Thai business visa provides the benefit of creating a foundation for a Thai work permit application should the need for such documentation arise. Although an individual present in the Kingdom on a business visa does not strictly meet the definition of “tourist,” many people come to Thailand using a “B” visa and conduct business meetings in Thailand before pursuing more recreational activities.

Tags: Free Thai Tourist Visa, Free Thailand Tourist Visa, Free Thailand Tourist Visas, Free Tourist Visa Thailand, Long Stay Thailand, Long Stay Visa Thailand, long term visa Thailand, O Visa Thailand, Thai Business Visa, Thai Immigration, Thai Long Stay Visa, Thai Long Term Visa, Thai O Visa, Thai Visa, Thailand Business Visa, Thailand o visa, Thailand Tourism
Posted in Thailand Business, Thailand Visa, Thailand Work Permit | No Comments »

Fraud and white collar crime are significant concerns for any country as such activities can have a very harmful impact upon investors, consumers, and the overall economy. Apparently, there has been a noticeable rise in the number of certain types of white collar crime in the Kingdom of Thailand. Such schemes, called Pyramid schemes or Ponzi schemes have been prevalent in many western countries in the past and have seen a resurgence since the rise of the internet. In Thailand, such schemes appear to be on the rise. The website Thaivisa.com is reporting upon this issue in Thailand:

“Pyramid scheme businesses can survive at the expense of people being lured into the trap of hope to earn quick money although the authorities have been attempting to impede pyramid scheme swindlers by educating people about such incidents. Nonetheless, self-awareness to greed is the vital key to ensure that no one will fall into the trap, if we can change this value in each individual, pyramid scheme businesses will no longer appeal to anyone.”

Apparently, the Kingdom of Thailand has been a very popular place for those who specialize in Pyramid schemes and Ponzi schemes. That being said, most such enterprises claim to be something other than simply a Pyramid Scheme:

“In the last few years, pyramid scheme businesses have gained significant popularity Thailand as people have been lured into making investments in some intangible businesses. Nowadays, some of pyramid scheme swindlers disguise themselves as either direct sales or tourism enterprises, making it even more difficult for innocent people to differentiate and for authorities to trace the frauds.”

Most people understand that the forces of greed, if left wholly unchecked, can result in major aberrations in capitalist countries. Most nations, Thailand included, take measures to place a check upon those who would harness unwitting individuals’ greed and use it for their own purposes. However, at the end of the day, the population at large must be educated about the dangers of Pyramid Schemes:

“Legal officials have cautioned people to check before deciding to invest and to do some research on whether the companies have legally registered with the OCPB or if previous complaints have been filed by consumers or not. Furthermore, Ms Sareeya admitted that some companies did not conduct their businesses according to the plan submitted to the OCPB. She stressed that pyramid scheme businesses would focus more on financial return and recruitment of more members instead of tangible goods or services while some companies only had their goods available in catalogs.”

Those foreign nationals interested in investing in Thailand may be wise to conduct serious due diligence with regard to certain investment vehicles. Due Diligence may even need to be conducted for what turns out to be a legitimate Thailand Company in order to ascertain whether the buyer will receive what they bargained for. In any case, if a potential investor believes that “it sounds too good to be true,” then there is apparently a good chance that it probably is.

For more information on legal issues in Thailand please see: American Attorney Thailand.

Tags: American Attorney Thailand, Investing In Thailand, Ponzi Scheme, Ponzi Scheme Thailand, Pyramdi Scheme, Pyramid Schem Thailand, Thailand company
Posted in General Legal Information, Thailand Business, Thailand company | 1 Comment »

A common method of land ownership in Thailand is through use of a Thai Limited Company. In many cases, a juristic person is incorporated to hold Thai property on behalf of the principal investors in the company.  Over the past three years the Thailand Real Estate market has been somewhat stagnant, but recently there seems to have been something of an upward trend in Real Estate transactions. This has resulted in the Ministry of the Interior raising the fees for land transactions, particularly with respect to land transactions executed on behalf of a corporation. To quote a Pattaya Times article promulgated on the website Thaivisa.com:

“‘A nationwide increase in land offices fees will go in effect on March 2,’ a spokeswoman for the Ministry of Interior announced in Bangkok. The fees for purchases and sales involving a Thai company limited which most foreigners use to buy land will go up from one percent to six and a half percent of appraised or contract value, whichever is higher. The head of the Chonburi Land Office, Director Vaiyavuth Surapruik, said, ‘In 2008 the fees were lowered to help the economy. This has stimulated the sale of properties. Since the fees were lowered almost two years ago there has been no slow-down in the number of transactions at the land office in Banglamung which services Pattaya so now fees will go back up in order to increase government revenues.’”

On the one hand, the recovery of the Thailand Property market is definitely a positive development, and hopefully a sign of an underlying upsurge in the overall Thai economy. This upswing in Thai property sales may also be indicative of an overall upward trend in the world wide economy. However, for those who are thinking of purchasing Thai property be it land or another form of Thai Real Estate such as a Thai Condo, this development will likely be viewed negatively as it will result in increased fees for the buyer or seller of Thai property.

This fee increase will also have an impact on individuals as the aforementioned article concluded:

“Property transfered between individuals will be charged three percent fees if owned for more than two years by the current owner. If owned less than two years the fee is higher, between five and six and a half percent.” [sic]

Property transfers between individual foreigners is probably as common, if not less common, than property transfer between corporations controlled by foreigners. That being said, under certain conditions a foreigner can own a Thai Condominium in freehold and therefore could be effected by these increased individual transfer fees.

For related information on this blog please see: Thailand Property Law.

Tags: Thai Company, Thai Condo, Thai Property, Thai Real Estate, Thai Real Estate Law, Thailand company, Thailand limited company, Thailand Property, Thailand Property Law, Thailand Real Estate
Posted in General Legal Information, Thailand Business, Thailand Property, Thailand Real Estate, Upcoming Legislation | No Comments »