We talking about the need of getting a lawyer to buy a condo in Thailand, and countries where you can get a residence permit easily
Buying any Real Estate in Thailand whether it is a house or a condo requires the services of a reputable law firm. Once you have decided which real estate you want to buy, always consult a lawyer before signing any documents.
Is it easy to buy a condo in Thailand? The process of buying a condo in Thailand is quite easy, and only a few requirements must be met: The property purchased must be part of the 49% of the project surface that can be owned by foreigners. This can be easily verified in the developer’s office directly and legally responsible.
Under the right conditions, buying a condo in Thailand can be a profitable purchase and a good investment. If you are a foreigner who is interested in buying a condo in Thailand, there are some issues that you should be aware of. Thai law only allows foreigners to buy condos under certain conditions.
There are no restrictions on nationality and every foreigner who can enter Thailand legally (no visa class requirements) can buy and own a condo unit under the foreign ownership quota of a condominium, but every foreigner must qualify for ownership under section 19 of the Condominium Law .
| level | Price per m² |
|---|---|
| Mid-Range | €70,000 €89,999 |
| Upper-Mid-Range | €90,000 €119,999 |
| Above the End | €120,000 €199,999 |
| luxurious | €200,000 €299,999 |
Paraguay. Paraguay is considered one of the easiest countries to immigrate to because of its investment visa and retirement scheme. Both of these options make it effortless to obtain permanent residency and then citizenship- granted, there is a catch; You must be well off in terms of financial means.
Which country is the easiest to get residence? Here are some of the easiest countries to immigrate to:
Nicaragua is the only country that grants you permanent residency right away. Most countries, including Panama, start with temporary residency and then allow you to upgrade to permanent status. Like Panama, you can apply for citizenship after 5 years of residency.
A Permanent Residence Permit allows you to stay in Thailand permanently without the need for a visa. Moreover, it is another step to obtain citizenship, and a Thai passport. This is an opportunity that the Thai government offers to only 100 people of each nationality each year.
How can I stay in Thailand long term? To get a long-term visa in Thailand, you must be a student, an expatriate in Thailand, married to a Thai person, have a business (or businesses) in Thailand, or be old enough (over 50 years old) to apply for a Long Stay (or so-called retirement visa ).
When moving to Thailand, you must obtain a visa required by the Thai Immigration Law. Most people moving to Thailand do so with a tourist visa (valid for 60 days) or a non-immigrant visa which is initially valid for 90 days and then needs to be extended through Thai Immigration.
The processing fee for a Thai Permanent Residence Permit is 7,600 Thai Baht. If your application is approved, you will need to pay another fee for the Permanent Residence Permit Certificate: 95,700 Thai Baht if you are applying for Permanent Residency based on marriage to a Thai citizen.
All applications for Thai Permanent Residency are processed by the Royal Thai Immigration Commission. The annual quota for granting permanent residency in Thailand is a maximum of 100 people per country. The application period for Thai PR is usually from October to the end of December every year.
| Land value | tax rate |
|---|---|
| THB 51 million – THB 200 million | 0.40% |
| THB 201 million – THB 1,000 million | 0.50% |
| THB 1,001 million – THB 5,000 million | 0.60% |
| More than THB 5,000 million | 0.70% |
How much is the land transfer tax in Thailand? Transfer tax – The land department levies 2% of the property value based on the registered value.
The inheritance tax rate is 10%, except for heirs who are ascendants or descendants of the will, where the rate is 5%. Inheritance received by the testator’s spouse is exempt from tax.
| Income (THB) | Tax % |
| below 50,000 | exempt |
| 150,000 – 300,000 | 5% |
| 300,000 – 500,000 | 10% |
| 500,000 – 750,000 | 15% |
| 750,000 – 1,000,000 | 20% |
| 2,000,000 – 4,000,000 | 30% |
| over 4,000,000 | 35% |
An individual is considered a tax resident if he/she is in Thailand for 180 days or more in a calendar year.
In general, foreigners are not allowed to buy a house directly in Thailand. Simply put, Thai law prohibits foreigners from owning land in their own name, although theoretically there are exceptions but it has not been seen in practice.
Can foreigners buy farmland in Thailand? Can foreigners own land in Thailand? Foreigners cannot own land in Thailand. However, companies registered in Thailand can own land, and foreigners can open companies if they meet the requirements.
Foreigners under the Land Code Act, are prohibited from owning land in Thailand, so it is impossible for foreigners to obtain direct ownership of land and houses in Thailand. Foreigners are allowed to own units in condominium buildings under the Condominium Law.
While US citizens are prohibited from buying land in Thailand, they can, however, apply for long-term land leases of up to 30 years and build structures on the land. They can also buy condominiums from property developers.
Foreigners cannot buy land in Thailand, only condominium units and apartments. Foreigners cannot make up more than 40% of the condominium unit owners. However, foreigners can buy the whole building, minus the land on which it is built.
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