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Archive for the ‘Real Estate’ Category

Property Law in Thailand

Tuesday, May 10th, 2011

Thailand is becoming an ever more popular retirement and choice of country to live with its low costs and beautiful scenery not forgetting of course the world famous friendliness of the Thais themselves. But finding out about the laws governing property ownership here can be confusing. A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.

A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review. The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don’t have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)

A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested. If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors. At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.

Thailand Real Estate Market in Phuket

Wednesday, March 23rd, 2011

The cost of living is always the main concern for most of us. In order to enjoy life after retirement, many people choose to migrate to other countries where the cost of living is much lower. Nowadays, this island has become an international jet-set destination. The international airport is located in the north of the island. There are many schedule flights and chartered flights from different countries in Asia, Europe and North America landing in this island. In the past 10 years, many foreigners have been returning regularly to spend part or all the year in Phuket.

Phuket is the largest island in Thailand. Its size is as big as Singapore. It is located off the west coast of Thailand in the Andaman Sea. This island is “backed up’ by its rich culture and colorful history. It has successfully attracted many tourists because of its beautiful coastline, spectacular natural sights and a wide variety of sports activities. For people who love to explore, there are dozens of smaller islands around Phuket which you can reach within a few hours of boating. You can spend your leisure time going around easily. Besides the breathtaking beaches, most of the retirees like Phuket because everything can be obtained in a convenient manner. The island is “well equipped” with international banks, shopping malls, restaurants and post offices. Both its infrastructures and local industries are well-developed. They are catered to suit foreign tastes and expectations. Almost all types of facilities we have in the city can be found in this island.

Purchasing real property in Phuket is not really hard. There is an important thing you must know. You need to understand the land law in Thailand. In this special island, foreigners are not allowed to own land. However, you have the right to own buildings. The fastest way for you to settle down is through purchasing condominium. According to the latest regulations, 49% of a condo building can be owned by foreigners. The prices of the condominiums offered in Phuket are very attractive. You can own luxurious condominiums which come with great facilities. You can enjoy sea view if you choose to buy the unit facing the ocean. You don’t need to worry so much about the investment cost. You are able to get exceptionally luxury condominiums if you have a few hundred thousand dollars. Your cost of investment can be much lower if you are looking for normal condo.