Condo ground floor (shops) in foreigner name ?

[EcigAmateur]

Hello,

 

As a foreigner is it possible to buy a ground floor shop of a condo if it is included in the 49% foreign ownership ?

And what about townhouse / commercial buildings ?

 

Thanks.

[Dipterocarp]

The land a condo sits on is owned by the juristic person, thus the 49% ownership cap as Thai land cannot be foreign owned. Ground floor shops in condos are leased to renters by the juristic person.


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[KittenKong]

5 hours ago, Dipterocarp said:

Ground floor shops in condos are leased to renters by the juristic person.

 

That depends entirely on the building. In my building all units are individually owned, including the ground floor. And the ground floor is not necessarily a commercial area as the condo act understands it.

[KittenKong]

6 hours ago, EcigAmateur said:

As a foreigner is it possible to buy a ground floor shop of a condo if it is included in the 49% foreign ownership ?

 

Yes.

 

 

6 hours ago, EcigAmateur said:

And what about townhouse / commercial buildings ?

 

Only in company (Thai) name.

[trogers]

1 hour ago, KittenKong said:

 

Only in company (Thai) name.

 

Meaning the hush-hush Thai nominees as major shareholders...

[Delight]

 To my mind it is very simple

Condominiums have 'Living Area' and 'Common area'. The 49% applies only to the 'Living Area'. Shops are 'Common area'

If any part of the common area is disposed or rented out then minimum 50% of co -owner vote have to agree.

In relation to the OP's request for info.I assume that there needs to be separate votes for 1st stage renting out (already in place )-then  a further 50% vote to satisfy his request for ownership.

The 50% will be tricky!

If he gets that far then it will need to be in a Thai name.

[KittenKong]

2 hours ago, Delight said:

To my mind it is very simple

Condominiums have 'Living Area' and 'Common area'. The 49% applies only to the 'Living Area'. Shops are 'Common area'

If any part of the common area is disposed or rented out then minimum 50% of co -owner vote have to agree.

 

If there are buildings in which the Juristic Person owns shop areas that are rented out then I have not come across one. In every building I have ever known here all units in the designated commercial are individually owned and have chanotes, just like every other unit. They form part of the farang or Thai quota depending on who owns them, in the normal way, but the Juristic Person does not (and cannot) own them therefore it cannot rent them out.

 

Maybe some other buildings are different.