Rent Sale Condos Bangkok Thai Laws
Bangkok Buy Condos Apartments in Thailand free information
Foreigners who want to own property in Thailand like a piece of land in Pattaya,Phuket,Samui or Koh Chang
A Luxury condo or a cheap apartment,studio,shop or business in Bangkok close or near the Bts or Mrt or a best buy in Pattaya
Whether you intention is to use that property as an investment,retirement,vacation place or as a investment in the future its better you inform yourself about the Thai laws and the legal concerns regarding the ownership of properties in Thailand about the legal procedures you have to go through in to buy,to lease a condo,apartment,house,shop or land or to start a business like restaurant, bar, coffee shop, beauty salon etc….
After all you don not want to be a victim of a bad scheme to be duped or misled by corrupt agents or bad property projects so its best you inform yourself about the does and not does and how you can evade mistakes so you can make your dreams come reality
Condo Rent and Sale Bangkok com is pleased to provide you with that information.
We want to be sure when you buy, make an investment or lease a property that you can make the right decision and sleep on you both ears.
Don’t hesitate to contact us when you need more information and help through our email addres rentsalecondo@yahoo.com.
How can a foreigner own a new condo or apartment in Thailand?
1.Title deed
You have to verify the land deed where the condominium is built on
2.The agreement for buying the condo
In this agreement we can find back the price from the condo we buy the terms and the conditions upon.If its not clear or we are not sure than we ask better the help from a lawer
3.the payement of the condo
Deposit This is normally 15 of the total price from the condo to have the right to buy this condo.
Down payement. This can be 25% to 30% of the total price this depends on your contract and the agreement you have made.You made need to pay every month a certain amount this depends on your contract.Remember because this is important the money you have to pay for the condo have to come from outside Thailand to a Thai bank.
4.The registration and the ownership of a condo
After the condo is finished and you have fully paid,the seller will than transfer the ownership of the condo or apartment in your name.The tax, fees of registration and duty stamps must be paid at the time of transfer.
How can a foreigner best buy a used condo in Thailand?
To buy a used condo is more easy know that from a condominium or apartment building 49% can be freehold and owned by foreigners this has the most value.
From the other 51% you can only buy through a Thai company in which you are a shareholder.The money you have to pay have to come from abroad and put on a
Thai bank.Foreigners have only the right to hold the building not the land by Thai law.The contract from the condo is directly between owner and buyer and can be made by a broker or a lawer.The full payement will be done at the transfer of the condo or apartment to the foreigner name.In most cases the cost of the transfer is paid half by the owner and half by the farang.
How can a foreigner best buy a house or in Thailand?
You can only hold the freehold of the building,house or townhouse or villa and for the land have a good lease contract for 30 years with an option for 30 years more and don’t forget the lease to register at the Land Department.
A foreigner can he aquire land in Thailand and how?
Foreigners normally they cant own land in Thailand but there are five ways how a foreigner can aquire land
1.When you marry a Thai lady
When you are married to a Thai you can own land but the Thai land must be registered under her name and the money have to come from a Thai spouse which has to be declared on paper by the foreigner.So this means that the thai land always will belong to the Thai partner.This is a law from 1998.
2.When you are share holder in a Thai Company
You can own land in the name of a Thai company 49% from the shares can be farang owned and 51% of the shares have to belong to Thai shareholders.This way the foreigner can manage and control the company and has a save freehold ownership of the land
3.When you lease a Thai piece of land
You can own a piece of Thai land by leasing it and that for maximum 30 years with an option for another thirty years by agreement.Whats important you have to register it at the Land Department otherways the lease can be void.
4.Through Money Investment
If you invest as a foreigner minium 40 million Baht during 5 years than you can buy one rai of land that’s about 1600 sqm with the intention to live on but you need the permission of the ministery of interior.
5.Through a structure ownership
When you are married to a Thai wive or have a Thai company you can own the house you built on the land but the land itself you will have to lease for 30 years with an option to 30 years more.and register the lease with the Land Department.
Its very important to know about the land title deeds in Thailand
There are four types of land deeds
1.Freehold or Nor Sor 4
This title means the land belongs fully to the owner so he can sell, lease or mortage it this is the best and most value deed in Thailand
2.Land waiting to become a freehold or Nor Sor 3
This land can be sold, leased or mortaged as land with a freehold title but the owner of the land has to ask to change at the Land Department for a freehold title Nor Sor 4 3.Land like Nor Sor 3 but the land has to be measured
When this land is measured it can become a Nor Sor 3 and by this way become a freehold or a Nor Sor 4 see and read Nor Sor 3
4.Land which has no papers at all its only registered at the Land Department
This land is the least actractive of the four title deeds
Copyright Rent Sale Condos Bangkok com Thai Property Laws 14/04/2008
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