thailaw.com

I posted a link to the English version of Thai law concerning commercial and civil properties.......but there may be wider interested in the information at www.thailaws.com......the information appears to be current and appears to be geared at those parties interested in doing business in Thailand.
Included are a number of forms, pdf/word formatted, including a sample will.....all in very readable English.

parrot wrote:I posted a link to the English version of Thai law concerning commercial and civil properties.......but there may be wider interested in the information at http://www.thailaws.com......the information appears to be current and appears to be geared at those parties interested in doing business in Thailand.
Included are a number of forms, pdf/word formatted, including a sample will.....all in very readable English.

Thanks for posting that, Parrot, but the link doesn't work (at least, for me).

-S

Try this:

http://www.thailaws.com/

Thx. I thought his link referenced some specific subpage on that site...

I meant to paste the link to free legal forms (including a will) at http://www.thailaws.com/legal_form.htm

There's also some info about prenuptial agreements at http://www.thailaws.com/aboutthailand/business_47.htm .....a subject of concern from time to time on this forum

The information above about prenuptial in NOT ACCURATE IN THAILAND.
It was probably "copy-paste" or re-writing from an American website. I actually made a search on Google and found this article:
http://ezinearticles.com/?Advantages-Of ... &id=472203

It is the same benefits, but they changed the numbers and sentences!!!!
This applies to a prenup in USA. But sincerely, in Thailand, there are differences.

Prenups in Thailand and much more limited but they still have benefits. So, it is better to make one then nothing.
You can not decide for example about the custody of a future child. And the article above talks about "Protecting Business Assets" but this would not apply in Thailand for the fruits of the business, which are common property under
clauses 1471 to 1474 of the Thai Commercial and Civil Code.

That website is normally pretty good to find laws but on prenuptial, with respect, their article does not fully apply to Thailand.

This article is more accurate, simple to understand, but prenuptial are COMPLEX agreements:
http://www.thailawonline.com/en/family/ ... iland.html

For instance, we do a prenuptial for most clients in Thailand of about 10-15 pages.

But if a clients has assets in Australia, and would like to live in Australia, I would do a completely different agreement. It would be based on clause 90 B of the Family Law Act 1975 (Cth) and would be called a Financial Agreement. That would be a 25-30 pages agreement.

In Canada, let's say in Ontario, the prenup would have definitions related to “matrimonial home”, “business assets” or “matrimonial assets” or “property” as defined in the Family Law Act, of Ontario (R.S.O. 1990, CHAPTER F.3)

Drafting an efficient prenuptial is difficult and It must be adapted to each client.

Farangs cannot own land in Thailand, but can I am led to believe own condos over 5 stories high. I was also told that there is a way for farangs to own land and almost anything a thai person can own as follows. If a farang purchased land or anything else which is not permitted for a farang to own, he can do so in a thai persons name/ not in his name / then he may draw up a contract through a thai lawyer stating that although he only owns 49 percent of the said land, he as manager of the said land and perhaps development of such reserves the right of total control over it. For example if the land and development is sold all the proceeds of such revert back to the farang etc etc. I am led to believe its just a matter of contractual signatures, ie if the thai person signs to this effect then although the thai person owns 51 percent, its in law no use at all to that person as they signed all management rights away. Can anyone confirm this for me please.?

jon, you have a Thai lawyer on a monthly retainer - perhaps you could address the question to him/her, and get back to us with an authoritative answer.

Such assistance from a new member would be greatly appreciated.

I received a reply for udonmap. I am not here often but was in Udon this weekend and coming back on 25th.
I am not a Thai attorney. But manage a law firm in Thailand.
I am a Canadian attorney and do work in Thai law since 7 years.

Foreigners can NOT own land in Thailand POINT. There are exceptions: BOI approval, 40,000,000 investment, inheritance in the land code, but really, THEY CAN NOT.

Finding loopholes is trying to avoid the law and could be dangerous. Lease, usufruct, superficies, mortgage, are not loopholes. Thai companies CAN OWN LAND. But using nominees is illegal.

Yesterday, it was in all medias of Thailand:
http://www.phuketgazette.net/archives/a ... 12574.html

Farang CAN OWN A CONDO. There are quotas per building.

jon132 wrote: If a farang purchased land or anything else which is not permitted for a farang to own, he can do so in a thai persons name/ not in his name /

That is called NOMINEE and illegal.

jon132 wrote:then he may draw up a contract through a thai lawyer stating that although he only owns 49 percent of the said land, he as manager of the said land and perhaps development of such reserves the right of total control over it. For example if the land and development is sold all the proceeds of such revert back to the farang etc etc. I am led to believe its just a matter of contractual signatures, ie if the thai person signs to this effect then although the thai person owns 51 percent, its in law no use at all to that person as they signed all management rights away. Can anyone confirm this for me please.?

Law is clear: you can not own land. (unless exception).
Thai company can. But it must be 51% Thai and if over 40% foreign ownership, checkups are made.
Also, you need more Thai shareholders than foreigners when you transfer a property to a Thai company.

The most important to protect foreigners into a Thai company, to my opinion, is a preferred shares setup.
So, even with minority shares, you can control the company.

Management of the land or use of the land is different in civil law, as the right of ownership is divided in usus, fructus and abusus in later terms. That's where USUFRUCT comes from. (first 2 parts).

There are power of attorneys that can be signed, LOAN agreements, mortgage, many things. But there is NO PERFECT SOLUTION. As you can not own, you can not sell? (unless you have signatures).

Each situation is different. Title deeds are different. Investment of 500,000 or 10,000,000 is different. Married or not, heirs or not, wanting to sell or not in short term, long or short relationship between spouses are different situations.

I believe some law firms are making things some complex than they are. They let you believe you will control everything. Foreigners can own a house, that is true. Superficies for example will grant them buildings and plantations.

If I had to invest in Thailand, I would seek some legal advice, and not only in one place. Shop lawyers like you shop for anything. Like in restaurant, prices can vary on quality. You need to understand, to trust your law firm and to know what you are doing.

Sebastian.

Thanks for that, our Thai lawyer just said its a lot more complicated than that, and from all i ve read it obviously is, trouble is, you here a lot of bar talk around pattaya and most of it is incorrect. I was aware though that farangs can own condo s above 5 stories high and that there were limits to how many farang owned condo s per block.