Australian marry a Thai lady - asset protection?
- Thread starter b simpson
- Start date
Foreigners cannot own land. But they can own the house on the land.
Foreigners can own apartments - i think there is a limit on the number of foreign owned in the complex.
Although foreigners cannot own land there are several methods they can indirecctly control land:
- registered 30 year leases
- usefruct (whatever that is!)
- company with a majority of Thai owned shares
But I would recommending never investing in Thailand. It is too unstable, coups ever 9 years on average, and there are going to me major issues arising in the future - can't say more or a I could be arrested on my next trip.
If you want to live in Thailand just rent. Earn money in dollars and spent it in baht.
Foreigners can own apartments - i think there is a limit on the number of foreign owned in the complex.
Although foreigners cannot own land there are several methods they can indirecctly control land:
- registered 30 year leases
- usefruct (whatever that is!)
- company with a majority of Thai owned shares
But I would recommending never investing in Thailand. It is too unstable, coups ever 9 years on average, and there are going to me major issues arising in the future - can't say more or a I could be arrested on my next trip.
If you want to live in Thailand just rent. Earn money in dollars and spent it in baht.
Gives a whole new meaning to 'asset' protection, doesn't it.
It is a fact if we generally think of a house being a structure sitting on a plot of land. We're not talking mobile homes here! I've heard stories of guys bulldozing houses when the relationship has ended after his Thai wife/gf told him to take a hike. She can keep the land but not the house.
Fab, foreigners can only own a condo if 51% or more of them in the complex are owned by Thais. The 49% are relegated for foreigners to purchase. In the Phil's it's 60/40. You'll often see condos in a complex being advertised cheaper than comparables but these are held in a Thai name.
Always make sure the condo is in a foreign name if you intend to buy. But it's cheaper to rent apartments. The first one I had was 6,000 baht a month (AU$200) for a 28m2 studio with furniture inc fridge, TV etc. Water and elect was paid separately. It's much better to stay mobile in Scamland in case you need to move quickly. I've done alright with my condo but if I had my time again I would've bought elsewhere.
Agree with Terry, earn it in the West and spend it in the East. This is a maxim which has served many people well. I think Terry might be alluding to Elvis leaving the building soon (King will die) and this will cause more instability. His son will take over (most Thais don't like him) and there's rumours casinos will be legalised amongst other major reforms.
As of August 12th, the use of back to back tourist visas will no longer be permitted. This law was recently brought in by the ruling military and will see a lot of guys leaving Thailand and head for Cambodia and Philippines. There's speculation it will cause condo prices to crash with reduced demand. Lots of threads about this.. here's a couple.
http://www.rooshvforum.com/thread-38319.html
http://www.thaivisa.com/forum/topic/743467-visa-crackdown-is-this-the-end-of-the-road-for-unqualified-esl-teachers-in-thailand/
Thais cannot be trusted.
So to get back to the OTP's original question, if he marries then divorces a Thai lady, under Thai and Auss law he
-keeps all that was his prior to the marriage
-splits assets aquired during the marriage 50/50
The split is simple by Thai law and complicated by Auss law.
Does that sum it up correctly?
-keeps all that was his prior to the marriage
-splits assets aquired during the marriage 50/50
The split is simple by Thai law and complicated by Auss law.
Does that sum it up correctly?
Under Australian law he doesnt't necessarily keep all assets owned before the marriage. The courts have the power to alter interests in this. Also assets aquired during the marriage may not go 50/50.
LOL
Btw a friend of mine married a thai woman and in oz but he says it's not all legit as she's not a ozzie citizen
And as my dearly departed mother put it,she has champagne tastes but cordial money
Cheers Spades.
OP says "The marriage was done in Thailand formally".
If it was a Buddhist wedding then I understand it's not legally binding and she has no claim to his assets. Different if it was formally registered at the Amphur (district office). I hope he didn't pay a ridiculous amount of Sin Sod especially if she already has kids, is uneducated or ever worked in a bar because a Thai guy wouldn't pay one satang for her. IMO the guy is crazy to marry a TG and doesn't live with her. He should hire a private detective and make sure she's not screwing around.
Ha good luck with that!
And as my dearly departed mother put it, she has champagne tastes but cordial money
They all do! I could tell you a million stories but I don't have the time
Agreed. Despite multiple qualified legal opinions from Terry, myself and other lawyers, there's no sign that anybody actually wants to listen in threads like this that keep coming up.
+1 vote for mods shutting this crap down or at least keeping a very short leash on it.
Not in a few weeks but my bro will be there late this year early 2015.
He's into buddism,alot of contacts.
WTH?What's wrong with the truth?
Btw it's open for discussion,both ends of spectrum.
Cheers Spades.
This is quite true, however there is most certainly a Bangkok Professional class that is nothing like you describe. I have a Thai woman like this working for me who is of this class and the last thing she would ever be interested in is a western slob...hence she is married to a Thai her own age, even though she live in Oz. ...mind boggling isn't it
I've also got colleagues in Bangkok of this class and I can tell you hooking up with a Westerner is not a badge of honour......Now, I understand that most Aussies experience of Thai women is limited to girls from Isaan that they meet around Sukhumvit, Walking street and Bangla rd and this is a different story
Or, if you want to read real idiotville, be an old extremely well off australian woman who ma r r i e s a thai boy 30 years younger, brings him out here and supports him. Thinks and says "he didnt marry me for my money". Guess who will get it all when she dies and her boys will get nothing
You mean her children? Under Australian law they will certainy be entitled to a large sum - whether she leaves it to them or not.
I spent a month as a monk many years ago.
Nothing wrong with the truth, but there is little truth in this thread. Mainly stereotyping a whole nation based on 3 streets in bangkok. It would be similar to saying anyone that works in Kings Cross is a drug addict or a stripper.
Shaolin Monk? That would be totally sweet.
Ah the legend of Shaolin - mostly myth. No I was a Theravadin Bhikkhu, Thai style.
This is quite true, however there is most certainly a Bangkok Professional class that is nothing like you describe. I have a Thai woman like this working for me who is of this class and the last thing she would ever be interested in is a western slob...hence she is married to a Thai her own age, even though she live in Oz. ...mind boggling isn't it
Now, I understand that most Aussies experience of Thai women is limited to girls from Isaan that they meet around Sukhumvit, Walking street and Bangla rd and this is a different story
TMNT is correct with the excuses guys come out with to say "my girl is different" and your post is also spot on. An educated professional Thai woman from Bangkok would never get into a relationship with a westerner. There's a few reasons why but I won't go into it. The Thais you see with foreigners are from Issan (poverty area on Laos and Cambodia border) and they're doing it for the money.
There's a huge red light scene and many Thai prostitutes working in places like Pattaya, Bangkok, Hua Hin, Chiang Mai, Phuket, Ko Samui, Ko Lanta, Ko Chang, Ko Samet, Udon Thani etc etc and they're 99% from Issan. A lot of Bangkok office girls also freelance as prostitutes when the rent is due because they don't see anything wrong about sleeping with a guy for money.
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