Can a foreigner buy two condos?

[canerandagio]

Hello,

 

I am here on a retirement visa, not married, not permenent resident.

I would like to buy two apartments in two different condominiums.

Please can you confirm this is ok by law? Can a foreigner own two condos?

Assuming I can... if I keep the second one as a 'spare', without renting it, would I have any tax or other liability?

 

Thanks in advance for your help.

[Jingthing]

I'm pretty sure yes. I do but they're connected. 

[Brunolem]

No problem, I did it. 

 

A friend of mine had four, and many guys I know off have or had much more. 

[canerandagio]

I am reading this: 
https://www.siam-legal.com/realestate/thailand-property-how-to.php

Can foreigners buy property in Thailand?

In Thailand, a foreigner may only own a condominium in his/her own name. If the foreigner wishes to acquire land and build a house, he/she should obtain a long term lease on the land (for a period not exceeding 30 years each term). Read more about "Leases in Thailand".

 

[canerandagio]

Just now, canerandagio said:

I am reading this: 
https://www.siam-legal.com/realestate/thailand-property-how-to.php

Can foreigners buy property in Thailand?

In Thailand, a foreigner may only own a condominium in his/her own name. If the foreigner wishes to acquire land and build a house, he/she should obtain a long term lease on the land (for a period not exceeding 30 years each term). Read more about "Leases in Thailand".

 

OK, I think I read it better now: may only own a condominium and not a house... A condominium, not ONE condominium. ????

[Oldie]

No problem at all. The income tax depends on other things. Just follow the exact legal procedures how to buy a condo here. 

[bkk6060]

I know a Chinese lady who owns 20 at The Base in Pattaya.

[canerandagio]

Thanks all. I think I just misread the article above.

[Peterw42]

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

[canerandagio]

1 minute ago, Peterw42 said:

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

Thanks. I am not so worried about the 0.02% as much as I would be in calculating it and paying it, as I do not do any form of tax return at the moment. Will they just send the bill to me in the post or how does it work?

[blackcab]

1 minute ago, canerandagio said:

Thanks. I am not so worried about the 0.02% as much as I would be in calculating it and paying it, as I do not do any form of tax return at the moment. Will they just send the bill to me in the post or how does it work?

 

You can own as many condos as you want.

 

You will receive a precalculated invoice from the District Office, based on the size of your second unit.

 

To pay you just take the invoice and cash to the District Office. They will take the payment and give you a receipt.

[canerandagio]

3 minutes ago, blackcab said:

 

You can own as many condos as you want.

 

You will receive a precalculated invoice from the District Office, based on the size of your second unit.

 

To pay you just take the invoice and cash to the District Office. They will take the payment and give you a receipt.

Lovely, how to determine which of the two is my second unit please? 

[cyril sneer]

23 minutes ago, bkk6060 said:

I know a Chinese lady who owns 20 at The Base in Pattaya.

China not falang, not dirty, own many 

[blackcab]

14 minutes ago, canerandagio said:

Lovely, how to determine which of the two is my second unit please? 

 

There is no one answer to that question as it will differ from area to area. The hardest to dispute method would be that your first unit would be the unit you have a yellow house book for. If you don't have a yellow house book then it might be the unit you purchased first.

 

The only way of checking is to discuss the matter with the district office.

[CLS]

31 minutes ago, Peterw42 said:

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

AFAIK this tax relief that was introduced last year is like many other things for Thais only. Only people that qualify to be listed in the blue tabien baan book get the discount.

[canerandagio]

1 minute ago, blackcab said:

 

There is no one answer to that question as it will differ from area to area. The hardest to dispute method would be that your first unit would be the unit you have a yellow house book for. If you don't have a yellow house book then it might be the unit you purchased first.

 

The only way of checking is to discuss the matter with the district office.

Thanks.

[Peterw42]

1 hour ago, CLS said:

AFAIK this tax relief that was introduced last year is like many other things for Thais only. Only people that qualify to be listed in the blue tabien baan book get the discount.

They wouldn't have introduced any covid relief measures last year, the virus didnt exsist in any major way back then. There are reports that the tax wont be levied for the rest of the year, for all

[YT3k72Em]

Since you pay tax on the second home and not the first, if you wanted to minimize the tax, then making the lowest valued one your second home would be the way to do it.  But the tax is so low it's probably not worth the effort.  I think the primary one is the one that you are listed in the Yellow Book.

[murraynz]

On 6/24/2020 at 5:06 PM, bkk6060 said:

I know a Chinese lady who owns 20 at The Base in Pattaya.

Wow,good for rental income.

[bontang]

On 6/24/2020 at 5:15 PM, Peterw42 said:

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

I have 2 x 36 Sm Fully Furnished units for sale with many Extras in Jomtien, Condo Complex have GYM, Swimming Pool. Plus many Extras to suit your applician, I plan to go back home to Australia soon. Reasonable Priced,

[SePl]

What a question... really...

 

if you want to know you can also own 10 and let them without paying any tax ????

 

 

 

 

[SePl]

10 minutes ago, bontang said:

I have 2 x 36 Sm Fully Furnished units for sale with many Extras in Jomtien, Condo Complex have GYM, Swimming Pool. Plus many Extras to suit your applician, I plan to go back home to Australia soon. Reasonable Priced,

 

Please PM details, I might be interested to buy more if price if very interesting, not just reasonable. Thank you.

[finnishmen]

i know some europe guy in pattaya who owner 4 condo ,no problem how many can own and buy, if confirmed money outatthailand incomeneed some papers. i not remember what papers need but if move money out at thailand to thai bank you need paper why has move and papers has certificed house/condo buy. then have legal money in thailand and can buy how many house you want 2 or 200 newermind nor have many cheap condo.

[Gee Ku]

Yes, You can own more than one condo unit with no problem at all. Do you want a mid-range condo in an upscale area of Silom-Surawong? 0818513488.

[sanuk711]

Yes I had 2 at one point.......of course as soon as I sold the one off in Ban Chang near Rayong ---everything went price mad.........but I still made 80% mark up on it....that's one booming town.

 

[nahkit]

On 6/24/2020 at 5:22 PM, blackcab said:

 

You can own as many condos as you want.

 

You will receive a precalculated invoice from the District Office, based on the size of your second unit.

 

To pay you just take the invoice and cash to the District Office. They will take the payment and give you a receipt.

If you have several condos how does it work when you want to put the electricity bill or the internet contract in your name? I'm sure that you're able to do it but if you can only have one yellow book then what sort of identification will the utility companies take in order to put the services in your name? 

[blackcab]

I can't answer that as I don't have any experience of this situation.

 

In Bangkok it is certainly possible for the same Thai person or the same limited company to be the account holder of multiple electric and water accounts.

 

At a guess I would imagine the condo sale document from the land office which has your name on it and your passport would be sufficient.

[mrfaroukh]

Two of my friends have 6 each. It was nice before as they use to get good rental income but now most of the condos are vacant and rental dropped from 22000 to 9000

[elgenon]

I have a falang friend who owned 4 condos between CM and Pats.

[Rdrokit]

You can own as many as you can afford as long as the building has at least 51% Thai ownership.