Connect with us

Phuket

Land Office moves to allay property bust fears

Legacy Phuket Gazette

Published 

 on 

Land Office moves to allay property bust fears | Thaiger

PHUKET: The Chief of the Phuket Provincial Land Office (PPLO), Supot Suwannachote, has moved to reassure businesspeople that the closer inspection of companies wanting to register land titles, as ordered by the Ministry of Interior, does not mean that transfers of ownership will be refused.

He stressed that he did not want to see a slowdown in Phuket’s booming property industry. “If your company is genuinely 51% Thai-owned, then there is no problem.”

K. Supot denied that all applications by companies with foreign shareholders are being put on hold, or that applications are being sent to Bangkok for examination.

“The first thing we do is check with the Provincial Business Development Office (BDO) whether the company has been properly set up, with foreigners owning no more than 49%.

“Where the company has a Thai MD [Managing Director] or has both Thai and foreign MDs, there is no problem. But when a Thai-registered company has a foreigner as its Managing Director, we check more carefully. For example, we check with the BDO whether the shareholding has changed so that the foreign share exceeds 49%.

“So far, we have not sent a single case up to Bangkok,” he said. Details of some applicant companies with foreign shareholders might be sent to the BDO for further checks, he said, but these checks should not take more than a month to complete. Since the order was issued on May 15, however, no cases have been sent to the BDO for checking.

The PPLO receives between 100 and 120 applications for change of ownership of land every day, he said, though most of these are transfers from one Thai to another or people wanting to register loan or lease agreements.

Since the original uproar over the tightening of checks on land transfers, matters have gone rather quiet in the property community, with concern over the brakes being put on business having, apparently, abated. Stuart Reading, Assistant Vice-President of Finance at Laguna Resorts & Hotels (LRH), said that LRH was not particularly concerned as most of its sales were on a leasehold basis, and thus did not require a change in land ownership.

But, he added, “I’m not aware of any transfers we’ve done in the past week that have [run into problems]. From what I understood this was mainly aimed at foreign developers. We’re a Thai company, so we are legally able to acquire and develop land, because we are a public company.”

BDO Chief Veerachai Tantiwathanavallop denied that checks on companies would take a month, as suggested by K. Supot. “It will take only a minute or so,” he said. “Just give me the name of the company and its registration number and I can tell you.” He confirmed that he had, to date, received no queries from the PPLO.

He noted that when people apply to set up companies, he explains to them that in order to register a Thai company the foreign shareholding must be no more than 49%.

He said that, theoretically, a company could increase its foreign shareholding to more than 49% but that it would then have to be re-registered as a foreign company, which would limit it to just 49 areas of business, all effectively in exports. “I have never had a single application of this nature,” he added.

The registration of new companies in Phuket continues apace. A total of 157 new limited-liability companies were registered in May. Of these, 50% were registered to do property business, and of those, 70% had foreign investors.

 

Want more from the Thaiger family?

πŸ“± Download our app on Android or iOS for instant updates on your mobile
πŸ“§ Subscribe to our daily email newsletter
πŸ‘ Like/Follow us on Facebook
πŸ”” Subscribe to or Join our YouTube channel for daily video updates

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *



Read more headlines, reports & breaking news in Phuket. Or catch up on your Thailand news.

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Phuket

Thailand News Today | Pfizer vaccines on the way, Phuket’s July re-opening | May 7

Thaiger

Published

on

By

Disease Control Department back-peddled saying that that foreigners living in Thailand WILL also be vaccinated, governor of Chiang Mai is calling for the ban on dining in at restaurants in the northern city to be lifted and for eateries to be allowed to serve food on-site until 9pm, Tourism and Sports Minister insists the southern island of Phuket must record zero Covid-19 cases if a planned July re-opening is to go ahead, and 150 million baht worth of methamphetamine pills were impounded in Nakhon Phanom yesterday

 

Want more from the Thaiger family?

πŸ“± Download our app on Android or iOS for instant updates on your mobile
πŸ“§ Subscribe to our daily email newsletter
πŸ‘ Like/Follow us on Facebook
πŸ”” Subscribe to or Join our YouTube channel for daily video updates

Continue Reading

Phuket

We’re looking for a Video Editor/Production Assistant in Phuket

Thaiger

Published

on

By

The Thaiger is seeking a full time video editor and production assistant for a new project based in Phuket. The role is open to a Thai national but with great English skills as well. You will need to be able to work to deadlines with a crazy bunch of stressed out news hosts, guests and the rest of The Thaiger team.

You’ll also need a general knowledge of the Thai news cycle as the content will be largely centred around daily news and current affairs. Knowledge of social media, and especially YouTube, will be an advantage.

Prior work in the TV or video production industry would be a requirement; we couldn’t care less about your educational qualifications. The role would be Monday to Friday.

The work hours would be earlier in the day, probably starting around 7am. There may be some occasional travel to Bangkok involved as well. Salary would be between 30-40,000 baht per month, depending on experience with opportunities for bonuses. The initial contract would be for 3 months, renewable.

If you are interested, or know someone who could fit the job, send an email to THAIGER EDITOR at info@thethaiger.com

 

Want more from the Thaiger family?

πŸ“± Download our app on Android or iOS for instant updates on your mobile
πŸ“§ Subscribe to our daily email newsletter
πŸ‘ Like/Follow us on Facebook
πŸ”” Subscribe to or Join our YouTube channel for daily video updates

Continue Reading

Coronavirus (Covid-19)

Phuket red zone list adds Krabi, Trang, Ranong, Phatthalung

Neill Fronde

Published

on

FILE PHOTO: The Phuket checkpoint now lists 25 provinces as a red zone.

Visitors to Phuket from Krabi, Trang, Ranong, and Phatthalung will now have to prove they’re vaccinated or have a negative Covid-19 test within 72 hours of arrival, as they’ve been added to the red zone province list. People entering without those qualifications will have to take a rapid antigen test on the spot before being allowed into Phuket.

The 4 provinces join a group of 21 other provinces already on the Phuket red zone list requiring strict measures to enter. That list even includes Phuket itself, as people do exit the province have to prove a negative test or vaccination before being allowed to re-enter.

Phuket’s vice governor made the announcement yesterday after the governor signed the order and put it into effect until at least May 15th. That same order requires all trucks transporting goods to travel from 11 pm to 5 am, the nighttime hours that other people are not allowed to enter the island. Phuket recently closed its entry checkpoints from late night to early morning after reports of exhaustion from the health officials working to test everyone or verify their credentials.

Delivery drivers will also have to pass the same requirements as red zone province arrivals before entering Phuket. Any driver who does not have a negative test within 72 hours or proof that they’ve received both doses of a vaccine approved by Thailand’s Food and Drug Administration, will be forced to wait until the regular checkpoint opens at 5 am to receive a rapid antigen test.

Over 40,000 people from red zones have now been tested at the checkpoint to enter Phuket. In the first week of the requirement which began on April 22, health officials tested more than 22,000 people, overwhelming staff and prompting the government to close the entrance from 11 pm to 5 am to give checkpoint workers a break.

The 25 provinces currently classified as a red zone for entering Phuket are as follows:

Bangkok Nakhon Pathom Pathum Thani Rayong Suphan Buri
Chiang Mai Nakhon Ratchasima Phatthalung Sa Kaeo Surat Thani
Chonburi Nakhon Sri Thammarat Phuket Samut Prakan Tak
Khon Kaen Narathiwat Prachuap Khiri Khan Samut Sakhon Trang
Krabi Nonthaburi Ranong Songkhla Udon Thani

SOURCE: The Phuket News

 

Want more from the Thaiger family?

πŸ“± Download our app on Android or iOS for instant updates on your mobile
πŸ“§ Subscribe to our daily email newsletter
πŸ‘ Like/Follow us on Facebook
πŸ”” Subscribe to or Join our YouTube channel for daily video updates

Continue Reading

Follow Thaiger by email:

Thailand2 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 months ago

In search of Cat & Dog CafΓ©s in Phuket Town | VIDEO

Thailand4 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand4 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand4 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand4 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand4 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand4 months ago

Thailand News Today | Chinese vaccine, Thailand β€˜drug hub’, Covid update | January 13

Thailand4 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand4 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand4 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending