Buying property in Thailand

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Buying property in Thailand


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Old 17th October 2018, 07:34 AM
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Default Buying property in Thailand

Hello guys
I live in the UK and are thinking of moving to Thailand soon I found a property and the agent has advised me to transfer the money into their company account but wouldn't I need to be there to sign the deed papers with the seller at the land registry office or is there something I'm missing can this be done in my absence all the other necessary legal paperwork they said they can send to me via DHL and then I will send it back after signing is this a trusted system of doing business to anybody know can you help please your thoughts would be welcome
Kind regards
Dean

PS the agent is a well established company in Pattaya and is owned by a British owner

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Old 17th October 2018, 08:06 AM
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Foreigners are not allowed to own land in Thailand by law. The one exception that I know of is that condos can be purchased by foreigners as long as at least 51% of the building is owned by Thais.

If you are not buying a condo in a building at least 51% owned by Thais, then you are being conned. (I would be willing to bet that you are being conned regardless, but then I'm not a very trusting person by nature.)
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Old 22nd October 2018, 08:09 PM
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After Living almost 10 Years in Bangkok, and also married to a Thai.... I can confirm that what Myrrh said above is accurate... But he left out one other Avenue, that is also risky... "IF" you are married to a Thai, Your Wife can buy the property in HER Name!!

Or... It "MAY" be possible in some circumstance (Complicated and expensive) to buy a property in the Name of a business... However as a UK Citizen, YOU can not own more than 49% of that business!!

Another alternative, would be to try and arrange a Long-Term Lease!!

Sorry... But there is No easy way for a foreigner to buy a home, other than a condo, in Thailand!!

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Old 24th October 2018, 01:10 PM
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Many stories about a foreigner buying property with his wife owning the 51%. Then, after a while, she changes the locks and throws you out. You lose everything you spent.
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Old 24th October 2018, 08:47 PM
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Yeah, correct me if I'm wrong, but in Thailand, having 49% of the say in/ownership of a property/business is very often the equivalent of having zero say/ownership. I've read and/or heard of so many horror stories...including a former colleague of mine.

Similarly, the British "owner" of this company in Pattaya has at most a 49% stake in an industry (real estate) that he's precluded by law from participating in...yes?

That said, I learned something new today: the one major exception to the above appears to be US citizens registering their businesses through the Treaty of Amity. More here:

https://www.siam-legal.com/Business-...ai%20Amity.php
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Old 25th October 2018, 06:33 PM
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Quote:
Originally Posted by myrrh View Post
That said, I learned something new today: the one major exception to the above appears to be US citizens registering their businesses through the Treaty of Amity. More here:
True... However, owning 100% of a Company is not the same as owning 100% of Land... especially if that Land is for a Home... You may get away with it, if the land is to build a factory!!

CS

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Old 10th December 2018, 01:44 AM
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only your wife can buy land in her name. But you must check about all the paper work deeds to the land and house. because all depends where the land is where the house is to be built. making sure it is not owned by the military, and also about the deeds can be owned by family, so all family must agree to sell the land of the house, it can get quite complicated, if there are no deeds papers,

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Old 9th January 2019, 01:18 PM
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There are some exceptions. US and AU nationals can incorporate their own company in Thailand, with a single non-thai director. This company can wholly own land in Thailand, albeit a few conditions, industrial and agricultural land is a no go. Residential and Tourism marked land is OK.

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Old 25th January 2019, 11:57 AM
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Quote:
Originally Posted by myrrh View Post
Foreigners are not allowed to own land in Thailand by law. The one exception that I know of is that condos can be purchased by foreigners as long as at least 51% of the building is owned by Thais.

If you are not buying a condo in a building at least 51% owned by Thais, then you are being conned. (I would be willing to bet that you are being conned regardless, but then I'm not a very trusting person by nature.)
Same here. I don't trust people (family included).

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Old 25th January 2019, 11:59 AM
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Quote:
Originally Posted by Thai Bigfoot View Post
Many stories about a foreigner buying property with his wife owning the 51%. Then, after a while, she changes the locks and throws you out. You lose everything you spent.
MGTOW, baby.

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