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The Traveler

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  1. First, this is the wrong section ! But yes, you can easily buy as many condos in your own name as you wish. The only retriction that exist is, that the whole condo building has at least not more that 49% of foreign ownership. So buying from a farang (foreigner) doesn't change anything regarding this issue, but buying from a Thai could cause a prob when the 49% mark is exceeded. You can also buy a house and land, but not in your own name but rather on the name of a company. A Ltd. is easy and quite cheap. Again only max. 49% of the shares can be in foreign hands, the remaining 51% must be Thai. You need at least 7 persons for a Ltd. but any lawyer will help you in this regard. Now you might be worried that the Thais - as they have the majority - could cause probs. Nope, no way. Before the shares are registered in their names they have to sign a contract in which they sell their shares. Since you are the managing director and the only person who is allowed to sign any contracts in the name of the company, all you got to do is to put a second signature under that contract from another Thai who won't cause a prob. So every time someone should cause probs, transfer the shares to the next one. BTW, usually the lawyers have a few people at hand who collect a few baht for their signature but will never interfere with you. It's common practice and I never heard of any probs. This is the legal situation, but there are many more issues to take in count if you want to buy property in Thailand. Traveler
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