The Different Ways Foreigners can own Property in Thailand
Because a Condotel has both condominium and hotel licenses, the units may be rented out on a weekly or even a daily basis. With Airbnb growth, the ability to offer short-term rental represents a massive advantage for foreign investors. While branded residences may also be villas, a number of developments in Phuket have been established as luxury condominiums, which means the 51% Thai – 49% Foreigner ownership dynamic must apply. This type of investment property falls squarely in the realms of Luxury Property.
They need to find in you the right agent and they also need to feel you work with experienced, and ethical lawyers that will help them during the buying process. A freehold condominium is the most straightforward way for a foreigner to own property in Thailand. Provided the requisite Thai-owned percentage within a given development is maintained, a condominium unit can be fully and legally titled in the name of a foreigner. Under Thai law, bangkok condo for sale (https://bangkok.thaibounty.com/2020/03/13/6-simple-tactics-for-bangkok-bar-girl-uncovered/) up to 49% of the unit area of any condominium may be owned by foreigners. What follows is a description of the most common and legal ways in which your customers can invest in Thai property.
A common way to try and circumnavigate the law is for a foreigner to set up a Thai Company Ltd. A foreigner may not own more than 49% of the shares. The Thai shareholders they find should be legitimate investors, as well as interested parties who have a say in running the company going forward. But to be done correctly, the company must be run as a legitimate business. An experienced Thai lawyer will be able to advise you on the best strategy to help your foreign customers holding a property in Thailand. This means that they generate revenue and has proper Thai shareholders (nominee shareholders in Thailand are illegal). Note that if the lawyer that will support your work, suggests that your customer cuts corners on any of the above, you need to find another lawyer. Why not considering a leasehold?
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