Setting up a company in Thailand - what's required

reciprocal agreements

By tingtong, Created on: 09/10/2008, Last updated on: 15/02/2015

» Not only do ex prime ministers live in exile but any wealthy Thai can buy what they like in Uk. I dont know about other countries but I suspect the same. Not only can a Thai buy a house to live in, but hotels and even football teams of national importance. A six month visa is the smallest...

• Thulsa Doom commented : [quote="tingtong"]Not only do ex prime ministers live in exile but any wealthy Thai can buy what they like in Uk. I dont know about other countries but I suspect the same. Wrong tingtong In general rule, Thai citizens are not allowed to own land, house, or condo in Switzerland. They are allowed to do so only under the following conditions: 1) Having permanent residency (which can be obtained after 12 years of continuous journey here). In such case, they can own only their main property but are not allowed to buy any other one for speculation. Of course, if they lose for any reason their permanent residency status, they are not allowed to own anything anymore and must sell their property in a given time. 2)Buying property through the Law of Swiss Property Purchase by Foreigners living abroad. Thai citizens who are not resident in Switzerland have the right to buy one property under authorization of Swiss Government as holiday property. Such properties are alvailable in a limited number per year and are situated in specific and mandatory places. Of course the Swiss Government can refuse such privilege for any reason it wants. 3) Thai companies based in Switzerland are not allowed to own Swiss land( (it means majority of Thai shareowners) 4) Swiss companies but managed by a Thai CEO are not allowed to own Swiss land. I give you an example: the Prime Minister of Italy Mr Berlusconi who is as rich as Thaksin had his purchase of a property in East Switzerland refused. Finally he bought and owned it through his mother who is an Italian permanent resident in Switzerland since many years. So i am quite sure that Thaksin even if he is so rich can buy anything he wants in Switzerland...

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