Integrity Legal

8th August 2011

It recently came to this blogger’s attention that the Association of Southeast Asian Nations (ASEAN) has celebrated its 44th birthday. In order to provide further information on this story it is necessary to quote directly from the official website of Channel News Asia, ChannelNewsAsia.com:

SINGAPORE: Singapore will mark the 44th anniversary of the Association of South East Asian Nations (ASEAN) with a flag-raising ceremony at the Indonesian Embassy on 8 August. Indonesia is the current Chairman of ASEAN. Singapore’s Ministry of Foreign Affairs (MFA) said this year’s celebrations are particularly significant. It said this will be the first time that the ASEAN flag will be flown at all ASEAN member states’ diplomatic and consular missions in ASEAN countries and ASEAN’s dialogue partners and ASEAN Member States’ Missions where UN headquarters and offices are located…

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Frequent readers of this web log may recall that there have been significant discussions within ASEAN regarding issues such as a unified ASEAN visa, the exchange of University credits in an intra-ASEAN context, and a framework for dealing with issues pertaining to the South China Sea. As of yet, there has not been a full resolution regarding these issues, but the dialogue continues with many hopeful that ASEAN will be able to provide a strong platform for regional and global trade as well as business.

In news which is likely of more pertinence to those in Southeast Asia, it recently came to this blogger’s attention that there is further optimism regarding the Thai real estate markets. To quote directly from the official website of The Nation, NationMultimedia.com:

The property market will benefit from political stability and the government’s policy of boosting demand in the first-home market in the second half of this year, according to property experts. A survey of leading property firms by The Nation, seeking outlooks for the property market in the second half of 2011, found most believing that following the election, home-buyers will return to the market because of renewed confidence in political stability…

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Many foreign nationals in Thailand contemplate a Thailand property purchase either in the form of a Condo in Thailand or a house. In the case of a house in Thailand, it may be possible to enjoy the benefits of a Thai home notwithstanding restrictions placed upon foreign ownership of Thai land. In fact, through use of instruments such as Thai leases or Thai usufructs it may be possible to secure virtually total control over a home in Thailand. Some opt to secure their interest in a Thai house by bifurcating the title to the house from the title to the property (sometimes referred to as a Chanote). In any case, there may be ways in which a foreign national can enjoy the benefits of real estate in Thailand.

For information pertaining to legal services in Southeast Asia please see: Legal.


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