| Foreign Ownership of Thailand Property |
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Foreign ownership of Thailand property is an ideal option for international investors in the residential real estate, and commercial real estate sectors. Below are key points related to foreign ownership of Thailand property and how Healy Consultants assists investors with their objectives: | ||||
1.
| Foreign ownership of Thailand property is generally via purchasing condominiums. Foreign individuals can not own land in Thailand. A broad range of investors choose Thailand property as it offers diverse opportunities from apartments in Bangkok to beach side condominiums in the holiday destinations such as Phuket, Koh Samui and Hua Hin. Following are the legal options for foreign ownership of Thailand property i) A unit in a registered condominium, maximum foreign ownership in the complex is 49%, ii) A building (but not the land it sits on), iii) A registered leasehold of up to 30 years for all types of titled land or buildings. | |||
2.
| Foreign ownership of Thailand property requires the individual to show the funds for their property purchase have come from outside Thailand. This is still the case if buying through a Thai national as proof has to be given that the funds were supplied to that Thai national. To assist clients arrange property finance, Healy Consultants sources finance options, including international mortgages, and negotiates mortgage terms and conditions. Our firm works with leading international banks including ANZ Bank, DBS Bank and OCBC Bank. | |||
3.
| Foreign ownership of Thailand property requires payment of taxes. Healy Consultants provides professional tax and accounting advice to investors in order to efficiently meet the tax requirements associated with foreign investment in Thailand property. Property taxes include a transfer fee and stamp duty which can be paid by buyer or seller, depending on negotiations. Income received from rent is also taxable at varying rates dependent on the individuals income level. | |||
4.
| Compared to many countries around world, Thailand offers a low cost of living
and favourable exchange rates. Combine these factors with the Thailand's friendly culture, world renowned food and tropical climates it is easy to see why foreign ownership of Thailand property is sort after by people around the world. | |||
5.
| Healy Consultants offers comprehensive professional advice and management services to assist clients with their objective of foreign ownership of Thailand property. Whether investment objectives are in the i) residential real estate sector or ii) commercial real estate sector, our firm will develop a summary of the clients property needs such as budget, property locations, size, proximity to transport and schools, to develop options suitable for the needs of the client.
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6.
| To acquire a house and land package, a foreign individual can form a Thai Limited company. Foreign control of the company can not exceed 49% and it is the company that owns the land not the individual. A second method is to purchase the land in the name of a Thai national, such as a wife or friend. The property can then be rented from the Thai national with the foreign individual's name included on the title deed so the land can not be sold or sublet without consent from that individual. The lease period is generally thirty years and can be renewed twice, thus extending the total lease period to ninety years. | |||
7.
| Tourism plays a key role in the development of Thailand real estate. The Tourism Authority of Thailand (TAT) expects 14 million tourists to visit key destinations across the country in 2010, this represents a 5.6% increase from the 2009 figure of 13.2 million. The total revenue generation expected by tourists in 2010 is 540 billion baht, which represents a 6.4% increase from this year's targeted revenue of 530 billion baht. Thailand’s holiday destinations will see increased demand, with the economy on the rise and budget airline growth, surging tourism is inevitable. The Tourism Authority of Thailand has revealed that there were 15.84 million international visitor arrivals, excluding overseas Thais, in 2010. |
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| The property management services provided by Healy Consultants are beneficial for investors as it saves them from the time consuming activities such as organizing property maintenance and refurbishments, arranging property security, obtaining property valuations, finding tenants and ad hoc problem solving. |
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10.
| To ensure the legal matters associated with foreign ownership of Thailand property are correctly undertaken, Healy Consultants appoints and supervises a Thailand lawyer. The realty industry in Thailand is as regulated as some western markets so having a lawyer experienced in property transactions in Thailand helps the client maintain peace of mind over their property asset. |
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| Contact Us | ||||
For futher information on foreign ownership of Thailand property, please contact us at our Singapore office at (+65) 67350120 or email us at email@healyconsultants.com
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