What kind of real estate can foreigners buy for living such as houses, condominiums, etc. And if foreigners want to borrow to buy real estate in Thailand, what preparations must be made? This article has the answer.
Condominium Ownership
- Ownership share : 49% of 100%
- Must obtain permission to have residence according to city residency laws.
- Must obtain permission to enter the country according to investment promotion laws.
- Establish a company with Thai shareholders holding 51% and foreign shareholders holding 49%.
- The money to be used for purchasing must be transferred into a foreign currency into the country. If you are a permanent resident in Thailand do not need to transfer money from abroad.
House and landownership
- Not more than 1 rai ( 1600 sq.m. )
- The property must be used for residential purposes on its own.
- The investor must invest in Thailand with a minimum amount of 40 million baht for at least 3 years, such as buying bonds or real estate mutual funds, and be certified by the Minister of Interior.
- The investor must reside in Bangkok, Pattaya City, municipal area, or in areas designated as residential zones according to urban planning laws, but must be outside the military security zone.
- If it is land, it must be bought and sold with the name of the owner in the title deed.
- If it is the transfer of land with a building, the seller must also have their name on the building's title deed.
Rights to own a house and land
If received as inheritance, the size must not exceed 1 rai. If it exceeds this, it will be forced to sell.
Target group qualifications
- wealthy global citizens
- wealthy pensioners
- work - from - Thailand professionals
- highly skilled professionals
Ref.Bangkok insight , REIC
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