Buying a property in Thailand always requires the use of a real estate lawyer who can guide you through the legal process. Thai Property Law is complex and for the better part unregulated. When we talk about selling real estate in Thailand, it is common to talk about selling land and a house.
Can a foreigner buy a condo in Bangkok?
Foreigners can legally purchase up to 49% of the registered area of a Condo Project (Foreign Quota). The remaining 51% can only be owned by Thai citizens or Thai entities. Therefore, foreigners looking for straightforward and hassle-free property ownership in Bangkok are advised to consider buying a condo.
How can I buy a condo in Bangkok? Anyone can buy a condominium in Bangkok, but expats must observe these two rules: They can only buy a unit in a condominium where less than 49% of the units are owned by foreigners. The money used to buy a condo must be paid from outside Thailand.
Can a foreigner own a condo in Thailand?
There are no restrictions on nationality and any foreigner who can enter Thailand legally (no visa-class requirements) can buy and own a condo unit within the foreign quota of a condominium, but every foreigner must be eligible to be an owner under section 19 of the Condominium Act.
Is it easy to buy a condo in Thailand?
The process of buying a condo in Thailand is simple, and only a few requirements must be met: The purchased area must be part of the 49% of the project that can be owned by foreigners. This can be easily confirmed at the manufacturer’s office directly with the responsible jurisprudence.
Can I own land in Thailand?
Foreigners should not have land in their name; however their Thai registered company can own the land. There are different ways of business organizations in Thailand; It is mainly used by Thai Limited Company.
Can US citizens own land in Thailand? While US citizens are prohibited from buying land in Thailand, they can, however, apply for land leases of up to 30 years and build buildings on the land. They can also buy condoms from real estate developers.
Do you have to be Thai to own land in Thailand?
Foreigners cannot own land in Thailand. However, a registered Thai company can own land, and a foreigner can open a company if they meet the requirements.
Can you own property in Thailand?
Answer: Under Thai law, foreigners cannot own land directly in their name. However, they can buy condominiums outright (freehold) or buy an occupied property and lease the land (usually for 30 years, with the option to extend) where the building sits.
Is buying land in Thailand a good investment?
There are many good reasons to invest in Thailand real estate. The country has shown strong and stable growth in recent years and looks to continue this trend. House and land prices are rising, as are rents, and this presents exciting opportunities for real estate investment in the market.
Can foreigners own real estate in Thailand?
Answer: Under Thai law, foreigners cannot own land directly in their name. However, they can buy condominiums outright (freehold) or buy an occupied property and lease the land (usually for 30 years, with the option to extend) where the building sits.
Can a foreigner buy a house in Thailand? Foreigners are not allowed to buy property in Thailand, but you can buy houses and condos as a non-resident. However, foreigners cannot make up more than 40 percent of the condo’s total unit ownership. Fortunately, you can buy the entire building as a foreigner, but not the land on which it was built.
Can foreigners own condos in Thailand?
Buying a condo is the only way foreigners are allowed to buy real estate in Thailand. Other options include negotiating a long-term lease (up to 30 years) or buying real estate using a Thai dummy corporation, a practice that, although common, is illegal.
Can foreigners own villas in Thailand?
Foreigners under the Land Code Act are prohibited from owning land in Thailand, so it is impossible for foreigners to own land and houses in Thailand. Foreigners are allowed to own a share in a condominium building under the Condominium Act.
What is Thailand Elite card?
The Thailand Elite Visa is a long-term visa issued to Thailand Privilege Card members. It is placed under a Tourist Visa (Privilege Entry Visa “PE”) which allows to stay in Thailand with benefits for a period of between 5, 10, or 20 years depending on the package chosen in exchange for a membership fee.
Is the Thailand Elite Visa worth it? If you can afford to pay 10,000 baht a month and live without the hassle of this visa, then it’s totally worth it with all the convenience you get. On the other hand, if you qualify for other long-term visas and don’t have to worry about paperwork and government procedures, then the Elite Visa is not for you.
How much does Thailand Elite cost?
The Elite Visa has a five-year validity period and can be renewed for an additional five years. There is no annual fee and the price is 800,000 Thai baht. A fee of 700,000 Thai baht is charged for any other family member.
Who is eligible for Thai elite visa?
Thailand Elite Visa Requirements: Be a holder of a foreign passport from a host country with at least three blank pages and a minimum validity of one year. Being allowed to stay in Thailand depends on the immigration rules, which means that the applicant has no record of living in Thailand.
Is Thailand Elite legit?
The Thailand Elite Visa is an official, legal way to buy your stay in Thailand for up to 20 years, with minimal paperwork and visits to immigration offices. It’s clearly the easiest and most hassle-free way to live in Thailand long-term but it comes at a cost.
