My own condo

[anto24 0]

Is it true a ferang can buy a condo in his own name in Thailand.Without gettin a lady involved incase have prob in future.Heard u have 2 marry 2 buy a house but u can buy a condo in ur own name.And was also wondering is it ok for us ferang 2 sell condo when we want to get another 1.Really want 2 buy property in thailand so any info greatly apreciated thanx.

[pattysteve 34]

Yes you can buy condo,one restriction 51%of condos in a building have to be Thai owned.

 

There is however a commonly used loop hole,register a Thai business then you can own land and therefore buy houses.You dont have to run it like a business

just register.If you need more info do a couple of searches.

[bangkapiboy 5]

Foreigners can own a condo in their own name. If you are buying from a foreigner then no prob, but if buying from a Thai then it must be checked if you can have it in your own name.

[anto24 0]

Want to buy soon think prices will go alot higher in the near future like everywhere else.Seen a nice condo beside MBK Bangkok for 3million.Am really interested.Will be goin over next month 2 look for real and hopfully buy 1 and rent it out.

[The Traveler 0]

Is it true a ferang can buy a condo in his own name in Thailand.Without gettin a lady involved incase have prob in future.Heard u have 2 marry 2 buy a house but u can buy a condo in ur own name.And was also wondering is it ok for us ferang 2 sell condo when we want to get another 1.Really want 2 buy property in thailand so any info greatly apreciated thanx.

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