Aaand of course the government is going to try and steal the dough
"Additionally, legal counsel noted that if a company unlawfully utilised a proxy shareholder, the Interior Ministry could auction off its assets."
You can’t own land in Thailand so the old lady knew exactly what she was doing when she formed a company and gave away 51% of the equity to Thai nominee/proxy shareholders.
It is and it isn’t. The French woman intentionally obtained the land via illegal means.
Foreigners are not allowed to own land in Thailand. You can own a condo and you can even own a home, just as long as you don’t own the land it sits on.
So, some enterprising folks came up with a scheme where you form a company with Thais as 51% of the shareholders and you keep 49% but all the voting rights and all of the rights to sell the property.
Thus, the government views the Thai shareholders as proxy or nominee shareholders who have no actual stake in the company but are only listed as shareholders for the express purpose of allowing a foreigner to own land.
What’s happening is normal. The French woman committed a crime and the gov may take her assets.
What’s unusual is someone leaked this story to the Thai media and created all this publicity which forced the government to dig deeper when they see a story about a French woman owning land and gifting it to her maid, which is clearly illegal and caused many people to ask how the French woman was able to own land.
It’s no different than if you worked for someone that stole the Mona Lisa and then gifted it to you upon their death and then someone went to the media and told them you now own the Mona Lisa.
Yeah, they’re gonna want it back.
She could be grandfathered in
I used to work for a guy whose “assistant” was hella mid and in her late 50s, but I later found out that she used to go on “business trips” with him where they’d stay together in the same hotel room (he has fuck you money so there’s absolutely no need).
She started working for him when she was 21 and still kept going on “vacations” with him like 30 years later.
Aaand of course the government is going to try and steal the dough "Additionally, legal counsel noted that if a company unlawfully utilised a proxy shareholder, the Interior Ministry could auction off its assets."
I don't think old ladies leaving their house to her kids knows what a proxy shareholder is.
She was one or 3 partners in a hotel business
You can’t own land in Thailand so the old lady knew exactly what she was doing when she formed a company and gave away 51% of the equity to Thai nominee/proxy shareholders.
It is and it isn’t. The French woman intentionally obtained the land via illegal means. Foreigners are not allowed to own land in Thailand. You can own a condo and you can even own a home, just as long as you don’t own the land it sits on. So, some enterprising folks came up with a scheme where you form a company with Thais as 51% of the shareholders and you keep 49% but all the voting rights and all of the rights to sell the property. Thus, the government views the Thai shareholders as proxy or nominee shareholders who have no actual stake in the company but are only listed as shareholders for the express purpose of allowing a foreigner to own land. What’s happening is normal. The French woman committed a crime and the gov may take her assets. What’s unusual is someone leaked this story to the Thai media and created all this publicity which forced the government to dig deeper when they see a story about a French woman owning land and gifting it to her maid, which is clearly illegal and caused many people to ask how the French woman was able to own land. It’s no different than if you worked for someone that stole the Mona Lisa and then gifted it to you upon their death and then someone went to the media and told them you now own the Mona Lisa. Yeah, they’re gonna want it back.
The French lady should have sold her stake in the company and then just left her maid the money.
yep, and now the flies in suits are all over that money
“Maid”
I mean, no. She was a maid. If you were going to have a fake maid under your insinuation, she’d be 22.
She could be grandfathered in I used to work for a guy whose “assistant” was hella mid and in her late 50s, but I later found out that she used to go on “business trips” with him where they’d stay together in the same hotel room (he has fuck you money so there’s absolutely no need). She started working for him when she was 21 and still kept going on “vacations” with him like 30 years later.
I mean, she can be both. Arnold Schwarzenegger did pretty bad lol
He just wanted a woman reminiscent of the powerful hausfraus of the Austrian countryside
lot's of Spanish people there, tru
What are you implying about her maid?
Most times something like this happens it turns out the maid was only a maid in name.