- View - Transferring money into Thailand to purchase a condominium
- View - Registering a Company to Buy Property
- View - Purchasing Real Estate In Thailand FAQs
- View - Items to look for in housing
- View - Vaccination Guide
Transferring Money Into Thailand To Purchase a Condominium
Should you require a Condominium apartment, which you wish to put in your
own name, just ensure that you have the money 'bank transferred'
here, with a statement on the transfer document, "For the purpose
of purchasing a condominium apartment in Thailand."
This
statement will help you to get what is call a "Tor Tor Sam"
document from the bank over here. It will also let you take the
same amount of money out of country legally if and when you wish
to sell the condominium and take the funds out of Thailand.
Registering a Company in the Kingdom Of Thailand To Purchase a House & Land
The following is not legal advice from our company, but merely
the result of ten years of observing Thai lawyers and their
legal practices, as concerns foreigners controlling land
and houses in the Kingdom of Thailand. Please note the following:
An
alternative to buying a condominium is the purchasing of
a house. Purchasing a house will require that you register
your own company here in Thailand. The costs for registering
a company will range from Baht 15,000 to Baht 25,000. This
will depend on what Lawyer you go to. Premier Homes has
a great legal firm that does this kind of work and they
can help you at a cost of about 20,000 Baht.
Just
a few details and back round on purchasing a house and land 'in'
a registered company. First and foremost, the reason is that technically,
a foreigner cannot own land in most all cases and places throughout
the Kingdom of Thailand.
When
you register a company, you will at the same time, have each of
the required Thai shareholders sign share release forms, thus relinquishing
all other persons relationship and influence with the registered
company. You keep these documents.
You
are now the sole (Managing Director) controller (Owner) and are
now able to purchase property, cars, etc. This is the safest and
best way to own a home in Thailand. Many, many foreigners all over
the Eastern Seaboard here own homes exactly like this.
Many
Law offices have 'ghost companies' which have already been set up
and already have had the share holders (Usually their own staff)
sign the share release forms. All you need to do is to pick three
possible names for the new company and pay a deposit of 50% of the
company registration price. The balance is paid upon receiving the
company registration documents. This entire process can often be
accomplished in as little as 15 to 20 days.
Purchasing Real Estate In Thailand - Frequently Asked Questions
1. Question: Can a foreigner own property in Thailand?
Answer: Yes...a
foreigner can own (100%) a condominium apartment in Thailand.
Technically
(and in most cases) a foreigner cannot own a house in Thailand as
the Thai Government does not allow a foreigner to own land (which
a house is obviously built on). In Thailand, a house would come
with a title deed (Chenoud) that will also show a certain amount
of land with the house, which will be registered to the owner of
the property as well.
A condominium
apartment's title deed (Chenoud) does not have any land registered
to or associated with the condominium apartment. The condominium
building's land is owned by a Juristic Persons Group (Association)
registered with the Thai Government and made up of a majority of
Thai citizens.
2. Question:
How can a foreigner own land in Thailand?
Answer: As
stated above, legally and technically a foreigner cannot own land
in Thailand. Their are a few small cases and a few new laws (over
a certain age...with so much money...in certain areas
of Thailand...married to a Thai National and have so
much money...etc.) that might accept foreign ownership of
land in their name, but the above is the normal scenario. (Refer
to #1.)
3. Question: Are there many foreigners that have land and houses in Thailand?
Answer: There
are many, many foreigners here that are in possession of houses
and land...in most all cases the land, the house, etc.
are owned as assets of a legally registered Thai Company, which
is controlled by a 'sole signatory' (all other share holders had
signed share release forms prior to the purchase of the house and/or
land).
4. Question:
How do these foreigners get properties like land and houses (or
do I need a Thai national for this purpose?).
Answer: Most
often, foreigners here form a company of dominantly Thai National
share holders (usually about $250 to $500 U.S. Dollars to form and
register the company properly).
When a registered
company's shareholders sign 'share release forms'' one individual
may 'become' the managing director and only signatory for the company.
The managing director may then sign for property purchases and the
company (Managing Director) owns the property (house and/or land).
In Thailand, it is possible (easily) for a foreigner to become the
managing director of a company.
The company
(Managing Director) is also able to transfer ownership (Elect a
new Managing Director/Property Owner) by selling the position in
the company which owns the property (for the purchase price of the
property) and/or sell the property outright at anytime in the future.
5. Question:
What should I bear in mind to secure my property against third parties?
(Government, etc.)
Answer: Not
that much. Things are pretty secure here at this time and there
are really no major 'pitfalls' once you get the property in your
name (Condominiums can be in your name and land & house may
be in a company name) and have the 'Title Deed' (Chenoud) secured
and in your (or the companies) possession through the normal legal
procedures at the Thai Government Land Office.
6. Question:
As I understand it, these coastal areas are very much in demand
and I'm not the only one willing to have a seaside-house.
Answer: Yes
you are correct....but there is an awful lot of available land.
7. Question:
What are the realistic possibilities to find a plot to build a house
on some coastal areas (eastern or western coast of the Gulf of Thailand
and/or Phuket and the many other islands around Thailand)?
Answer: Possibilities
are quite good, but tend to be higher priced than most foreigners
expect. The tendency is also for large parcels of land. Parcels
of land as small as 1, 2 or 3 home plots are few and far between.
Your Eastern Seaboard Housing Tour
Items To Look For In Housing
1. LOCATION
It is very
important that you know what public transportation (bus/taxi/motorcycle)
is available to you and where you may catch them. Also, be sure
and check for the location of nearby stores, restaurants, etc.
2. ENTRANCE
WAYS
When looking
at homes, make sure there are two entrance ways. There should be
a way to enter the house from the front and the back in addition
to any patio doors. As well, all doors should either lock or be
able to have locks attached to them.
3. RESERVE
WATER SUPPLY
Most homes
will have a large water reserve system (tank & pump) in case
of a main water supply failure from the city's own water reserve.
This is of great importance since the city's water supply can be
cut off at times! Note: This is most often for short periods of
time, but can be very annoying if you do not have a reserve water
system.
4. WINDOWS
AND SCREENS
Check all windows
for opening, closing and locking. Make sure that there are enough
windows and doors with mosquito screens for your comfort.
5. OUTSIDE
WATER SUPPLY
A house should
have at least one outside water supply (spigot/faucet). You can
buy the hose and clamps here, but any type of special nozzles for
spraying may need to be brought with you (Chonburi's True Value
Hardware has them!).
6. CABLE OR
SATELLITE TV RECEPTION
The local television
reception is almost entirely in the Thai language. You will want
to look for another option (cable and/or satellite) for TV viewing.
Premier Homes highly recommends the UBC Satellite television network.
Remember! All televisions here are PAL format (not NTSC or MESCAM)
but, multi system VCR (video players) are easily obtainable.
7. HOT WATER
SHOWER
You will find
that many houses and condominiums will have a small water heater
in the bathrooms for hot water showers. You may not find hot water
in the kitchen, so make sure you look for a water heater! (Usually
under the kitchen sink!). Also, check to see if a shower curtain
is included. Bath tubs are a bit of a rarity also, so do not expect
to always see one in a house or condominium.
8. GAS STOVE
Most of the
time you will see gas stoves in the kitchens. Check to see how many
burners are available and whether their is an oven or not. Some
places will have a micro wave oven which can be very handy to use.
9. REFRIGERATOR
The refrigerator
should be at least medium size if not a large one. Many homes and
condos will have one of the small refrigerators and they usually
are just not enough. You may want to have your Premier Homes real
estate consultant negotiate a larger one into the lease agreement.
10. UTILITIES
AND APPLIANCES
It is very
important that all of the homes utilities hardware, appliances and
air conditioning equipment is in good working order. It is standard
procedure with Premier Homes to ensure that the properties Landlord/Owner
does check and service all appliances, electrical outlets and switches,
plumbing fixtures and air conditioning units before you move into
your new home.
11. WASHING
MACHINES
Not all of
the houses and condos will feature a washing machine. There are
laundry services everywhere and usually, they are quite reasonable
in price. Dryers are even less seldom seen (hang the clothes out
a few hours and they are dry!). If you do find a place that does
have a washer or you decide to purchase one, remember that they
are often gravity drained (there are often no pumps to get the water
up and out). Also, check for places and space to hang out your clothes
for drying.
12. AIR CONDITIONING
It would be
best to have at least the bedrooms air conditioned. It takes most
expats a good while to get acclimated to Thailand's very hot weather...remember
you also have a very high level of humidity here also!
13. TELEPHONES
You will most
likely want to have a telephone (IDD-International Direct Dial).
Normally they are in the homes and are most often assigned to the
home owner's account. Be sure and ask what sort of service their
phone has and what is necessary to get IDD if it doesn't already
have it.
14. STORAGE
You should
look to have at least one room available for the storage of items
like luggage, boxes, recreational items, etc.
15. NEGOTIABLE
Remember...You
can always try and ask for improvements (painting, repairing, replacing,
etc.) during the negotiation period (prior to signing the rental
agreement contract).
REMEMBER! It is very important that you always have someone that
you may contact in case of any problems or emergencies with your
new home. You will need a name and number of someone to get in touch
with (Property Owner, Property Manager, Your Premier Homes Property
Management representative, etc.)
Also, make
sure that you know where and when to pay your utility bills (electric,
water and telephone) and any additional monthly charges and/or fees
you may incur. It is very easy to get these utilities 'cut off'
if you are not aware of when and where to pay them.
Remember! Premier
Homes Real Estate Co., Ltd. is the only real estate firm on the
entire Eastern Seaboard that stays with their client's throughout
their tenancy.
Remember...when Premier Homes moves you in...
it's just the beginning of their many services!
Vaccination Guide
The purpose of this guide is to provide basic information about vaccines and
vaccination, to enable the readers to make a more informed choice about which vaccines to
have for themselves and their families. It is not intended to be a source of reference for
health care professionals, who will find data more suitable for them from the CDC and
other sources on the internet.
Although I have tried and shall continue to try to keep the information presented here
accurate and up to date, the whole subject area of vaccination is continually undergoing
reassessment, re-evaluation and improvement, therefore you are advised to double check
with other sources on any crucial information. If the reader spots any errors or
inaccuracies, I shall be most grateful if I could be informed of them via e-mail.
Please also bear in mind that vaccination policies vary from country to country, and
the suitability of individual vaccines for individual persons may depend on many factors.
When in doubt it is important to discuss with your doctor the risks and benefits involved
in having or avoiding a vaccine. Special reference is made to Thailand and the far east in
much of this guide, but most of the information is applicable world-wide.
Specific vaccines
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