Offshore Injury – What You Need to Know

In early 2013 it become clear that allegations made against the Takata Corporation about faulty airbag devices were true. According to pre-trail hearings Takata stands accused of being directly responsible for the over fourteen deaths.

Standing responsible for millions of unsafe airbags installed in cars throughout the world has been a cause of serious coprorate and also legal concern.  Information like this is not generally revealed to the public unless it’s a blunder of this proporation.  Luckily thanks to qualified offshore lawyers who delve deep into the research behind such events we know that there is some recourse for unjust events and situations that occur on a global scale.

While you might be thinking how can an event of this size affect me? It can.

Millions of Americans and Canadians work overseas and return home only occasionally to see family and friends.  While the figure aren’t clear, a large percentage of these ex pats are out seeking jobs in foreign markets and in term subjecting themselves to foreign laws and health provisions.

As an American working in the states for a US owned and operated company most of us can rest assured that our basic legal rights are respected and also upheld.  This isn’t the case in a number of foreign countries where local laws often trumps international laws.

If you do plan on traveling overseas it’s advisable to do a few things before embarking on your voyage.

A couple of thing to keep in mind:

  • Read all the fine print on your health insurance and be wary of fake online reviews.
  • Speak to a tax expert to know if there will be any end of the year tax implications.
  • Consult with a legal professional such as an overseas injury lawyer to know what exactly what happens in case of the need for emergency medical evac or legal difficulties.

It’s always best to have a plan of action in worst case scenarios then be faced with the legal and potential financial ruin that can come about from not knowing your rights overseas.

One of the biggest things that most ex-pats working abroad take for granted is that other countries uphold laws and protect workers rights to the same extend as American companies. Even large foreign international companies don’t function in the same way as their American counterparts.

For more information – Jeff Hermanson speaks on the matter:

Owning a House in Thailand – Do You Really Own It?

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After visiting the amazing Asian country Thailand, one would be so elated by its beautiful people, panoramic beaches, culinary delights and interesting culture that he would consider buying a piece of it to call his own in such a tropical paradise. The land of smiles has been attracting a good number of international investors.

Thailand’s foreign real estate market in Bangkok, Chiang Mai, Pattaya and Hua Hin is thriving and so is the country’s tourism sector. Many foreigners have successfully invested sans any problem.

In the previous years, it was difficult for foreigners to legally buy a house, condo or any kind of property in Thailand. However, the country had relaxed its laws from 1997 onwards. Though some restrictions remain the same, it is now practically easier for foreigners to purchase a property in the country, according to Thai Visa Property.

Foreigners can own a house in Thailand, but not the land since the country’s laws prohibit them from owning a land under their own name. In owning a house, to build a structure on a land requires the foreigner to just apply for a construction permit if he has to build it in his own name.

A real estate in Thailand involves a land and a house and the owner of the land owns the things fixed to it. However, when the foreigner buys a house, the ownership of the house can be separated from the land it stands on. It must be registered to the local land office. Transfer fees and taxes are also required.

Thailand’s land office is the only government body which can administer and complete the transfer of ownership of a building or house, according to Samuiforsale. It usually takes at least 30 days from the announcement of the sale period from the first visit to the country’s land office structure document sale to be issued. The 30-day period is intended to see if anyone wants to contest the ownership over the property.

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As for owning a land in Thailand, foreigners in previous years would set a joint venture with a Thai entity in the form of a Thai Limited Liability Company, where the Thai national will be the majority shareholder. They would then forge an agreement wherein the Thai entity will hand over complete power of attorney to the foreigner who will have significant security in the venture and ownership of the property.

The people involved in the joint venture are required to complete a tax return and pay a small amount of administrative fees and taxation every year. However, this kind of venture is now illegal in Thailand.

The current recommended option is a long term leasehold agreement. Foreigners who are unable to directly own a land in Thailand in most situations can take out a legal lease in their own name to secure themselves throughout the duration of the lease.

Long term leaseholds are commonly used when buying a property in contemporary residential development in Thailand. While the term varies and depends on the parties involved, an initial leasehold can be 30 years. Renewal and further leases could then be agreed but not enforceable under Thai law.

References:

http://property.thaivisa.com/can-foreigners-property-thailand/
https://www.samuiforsale.com/knowledge/owning-a-house-in-thailand.html
http://www.thaiembassy.com/thailand/buying-realestate-thailand.php