Owning property with no visa status

[anon537687643]

How is it possible for Non Thai citizens to own property in Thailand and have no visa status at all! I know of Chinese buyers who own condos but have no visa of any sort other than if they visit as a tourist ! As well as the fact they cheat tenants by not paying back deposits!

 

 

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[FritsSikkink]

Owning a condo is 1 thing, renting your condo out as a business is working and you could do something about this.

[KittenKong]

52 minutes ago, markaoffy said:

How is it possible for Non Thai citizens to own property in Thailand and have no visa status at all! I know of Chinese buyers who own condos but have no visa of any sort other than if they visit as a tourist !

No one needs any sort of visa to own a condo here.

[kevin612]

I personally think chinese tourists are dumb, they paid such a big amount and they will have 5-7% investment return annually for rental. I don't trust the thai government or thai people because there are too much scams out there and Thais are greedy. You never know how the condo end up what happen. One day you may find out the condo belongs to somebody else.

[gk10002000]

  The OP title  is a bit off.  Land in general can not be purchased by Non Thais.  Condos and other types of property can be bought by non Thais 

[Suradit69]

10 hours ago, markaoffy said:

s it possible for Non Thai citizens to own property in Thailand and have no visa status at all! I know of Chinese buyers who own condos 

I know of many non-Chinese foreigners who own condos but only occupy them during the winter months while here on tourist visas.  For the rest of the year they have no visa status. Hardly a Chinese phenomenon.

 

For about ten years while working in Abu Dhabi I owned my condo that I occupied only 3 or 4 months a year. The rest of each year I had no visa status ... until I retired and took up full time residence.

 

 

 

 

Edited August 25, 2018 by Suradit69

[Suradit69]

9 hours ago, kevin612 said:

You never know how the condo end up what happen.

Stunning observation.

 

 

 

 

Edited August 25, 2018 by Suradit69

[brommers]

It is wrong to say Thai people are greedy because I have numerous instances of just the opposite. One house owner where I rented actually reduced my rental when the exchange rate went south and she never increased it back to the contract price. I believe that if you give out bad attitude signals they will result in a negative attitude in return.

[Kwasaki]

11 hours ago, markaoffy said:

As well as the fact they cheat tenants by not paying back deposits!

Why don't they stay and not pay rent until the deposit recovered.

 

8 hours ago, gk10002000 said:

  The OP title  is a bit off.  Land in general can not be purchased by Non Thais.  Condos and other types of property can be bought by non Thais 

Spot on.?

[jippytum]

To own a condo in Foreign name you need a bank account to transfer funds and a visa of some sort is generally required to open a bank account . However with a Thai company as a front there are no restrictions . A  popular choice of the Chinese and others who wish to circumvent the law .

[spillige]

2 hours ago, jippytum said:

To own a condo in Foreign name you need a bank account to transfer funds and a visa of some sort is generally required to open a bank account . However with a Thai company as a front there are no restrictions . A  popular choice of the Chinese and others who wish to circumvent the law .

I opened a Thai bank account to purchase a condo without a visa but I needed to show a sales agreement from the Condo Developer to do it. 

[blackcab]

Moved to the Real Estate forum for specialist advice.

[ericthai]

8 hours ago, jippytum said:

To own a condo in Foreign name you need a bank account to transfer funds and a visa of some sort is generally required to open a bank account . However with a Thai company as a front there are no restrictions . A  popular choice of the Chinese and others who wish to circumvent the law .

No visa is requied to open a bank account.  

[bkkandy1308]

I know of quite a few Singaporean property investors that own Thai property but have never set foot in Thailand. They base their investment decisions largely on what friends and family tell them.

 

So, in short, you do not ever need to be in Thailand to own Thailand property.