Tips in Hunting for Thailand Real Estate for Sale and Acquisition of Ownership
Article by Howells
So you are searching for real estate investment prospects in Asia. Why not look into Thailand real estate? Investments on this Asian country can offer rewarding results. This short article can help you if you intend on Thailand real estate as a possible business enterprise.
First thing you must know whenever planning to buy properties in Thailand is acquiring the right visa. Thailand grants tourist, work, investment, and retirement visas. To learn more concerning these visa forms, it is wise to seek advice from the Thai Ministry of Foreign Affairs and the Department of Immigration.
After you have received your visa, the next thing is to find Thailand real estate for sale. You can save time through getting help from real estate agents. They can provide you reputable real estate resources. Moreover, you may need to find experienced legal professionals in the event you don’t have enough know-how about legal procedures in the country. They are informed about the local procedures and systems concerning property purchase.
In addition, you need to understand regarding present government policies. Just about the most important matters you must know will be the conditions regarding registration of your property. The Thai government allows people from other countries to obtain a property not beyond 1 Rai or 1,600 sq . meters. You ought to prepare not less than 40 million Baht (or almost $ 1.3 million) for you to make money from your Thailand real estate investment. You must transfer the quantity to a Thai banking account and find a permit from the Ministry of Interior.
After buying the real estate, you may now setup your very own Thai company. Only by establishing a company will you claim possession, since you need to register the exact property under your firm. Your qualified Thai lawyer will help you with all the process. Make sure you discuss with him prior to you signing any paper.
Like in some other countries, you should sign up your business with some gov departments. For American investors, they should observe strict compliance with the Thailand Amity Treaty. You must also read the policies regarding corporate tax just before acquiring ownership. Laws under it are usually complicated and government bodies may well change them every now and then.
Another essential 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 make money 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.