Concerns when Preparing to Obtain Thailand Real Estate
Thailand real estate assets can offer rewarding profits. Foreigners within this country aren’t liable to fork out tax if they sell real estate to private customers. If you are looking on this as a business, this article just might help you out.
The first thing to give some thought to when planning to buy Thailand real estate would be the different kinds of visa. These include vacationer visa, work visa, investment visa and retirement visa. You will find much more about that as you consult the Thai Ministry of Foreign Affairs along with the Department of Immigration.
The next phase is to try to look for Thailand houses for sale. If you wish a trouble-free search, you could seek assistance from real estate agent. It will likewise be helpful to employ an authorized attorney if you are not familiar with the processes. In addition, they know about the legal guidelines regarding buying real estate in the nation.
Even if you have the help of these experts, you will still ought to be familiar with local laws. The country allows foreigners to register the property ownership under several conditions. They are able to own a property not over 1 Rai or 1600 square meters. You have to prepare no less than 40 million Baht should you wish to profit from getting a Thailand real estate property. You have got to transfer the amount into a Thai bank-account and then get permit on the Ministry of Interior.
You might setup your personal Thai company after purchasing the property. Your registered Thai lawyer may also help you in this process. Ensure that you seek advice from him prior to signing any document. By setting up a company, now you may claim ownership of the house under it. You also must know that you’ll need to register your company with some other government agencies. There’s also separate criteria when you setup a limited company in the country. American buyers of real-estate properties must abide by the policies in the Thailand Amity Treaty. It is wise to check the regulation regarding corporate tax before having a house. They can be quite complicated and may change over time.
In buying a Thailand real estate property, you have to know that you cannot resell it within a period of five years. Only after this period can you offer the property to other buyers and profit from the sale.
Thailand government also allows foreigners to possess freehold condominiums. This only is applicable to less than 50 % ownership of the property. Ordinary shares and preferential shares are the two classes of the company’s share capital. This division preserves the interest of the foreign investor. Once you buy a condominium, you will obtain a document showing the ownership is only less than half of the property. There have been some exceptions for this rule for the past few years but nowadays, the rule applies in all cases.
These are some of the things to know before buying a property in Thailand. Checking for some of the available choices online can help you in the process-from choosing to purchasing the property.
Eve Howells is an investor looking for thailand houses for sale and is looking forward to invest in thailand real estate for the following year.
Processing your request, Please wait....
