Items to Know Whenever Planning to Buy Thailand Real Estate
So you are searching for real estate investment potentials in Asia. Why not consider Thailand real estate? Investments on this Asian country can offer successful results. This short article can help you if you’re planning on Thailand real estate as a possible business enterprise.
One thing you need to realise while planning to buy housing properties in Thailand is having the right visa. Thailand grants tourist, work, investment, and retirement visas. To find out more with regards to all these visa types, make sure you seek advice from the Thai Ministry of Foreign Affairs and the Department of Immigration.
When you have acquired your visa, the next task is to find Thailand real estate for sale. You can save time through getting the help of real estate brokers. They could provide you with reputable real-estate resources. In addition, you need to find skilled lawyers just in case you don’t have adequate knowledge about legal procedures in the nation. They are experienced with the local policies and systems regarding property investment.
Also you need to find out regarding current government policies. One of the most essential things you must know is the conditions regarding registration of the property. The Thai government lets foreign people to own a property not beyond 1 Rai or 1,600 square meters. You need to prepare around 40 million Baht (or almost $1.3 million) so that you can profit from your Thailand real estate investment. You should transfer the amount into a Thai banking account and obtain a permit on the Ministry of Interior.
After buying the real estate, perhaps you may now setup your own Thai company. Only by establishing a company will you claim ownership, as you need to sign up the property under your firm. Your qualified Thai lawyer will help you with the process. Make sure you seek advice from him before signing any paper.
As in other nations, you need to sign-up your business with a few government departments. For American investors, they have to observe strict compliance with the Thailand Amity Treaty. You should also look into the regulations concerning corporate tax before getting ownership. Laws and regulations within it are sometimes complex and authorities could change them every now and then.
Another important thing to know is you cannot resell your property within a period of five years. Only after this period, can you sell the property and profit from the sale.
The Thai government allows foreign investors to secure property ownership in different ways. You can own freehold condominiums, for example, given you have less than 50% ownership. The company’s share capital must be divided into Ordinary Shares and Preferential Shares. Dividing it into these two classes helps preserve the interest of the foreign investor. These are some important things to consider before buying Thailand real estate. You may check online for more details on smooth and efficient acquisition of your Thai property.
Eve Howells is an investor interested in Thailand real estate and is currently looking for Thailand real estate for sale.
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