Foreign Company Purchasing Thai Condo

[Pappiklon]

I know the quota for foreign ownership in a condo is 49%, however is a foreign company wants to buy within that quota and they transfer the foreign funds into Thailand expressly for that purpose, can they buy just like an individual, or would they need to set up some form of Thai Company to make the purchase?

Thanks in advance for feedback

[gusgorman]

Not sure if i understand what you are asking but once 49% has been sold to non-thais, only Thais or a Thai company can buy freehold. If you want them in your name you cant, but you can put the ownership of the condo into the company name, if it is a Thai Ltd company. Hope this helps.

[donx]

I know the quota for foreign ownership in a condo is 49%, however is a foreign company wants to buy within that quota and they transfer the foreign funds into Thailand expressly for that purpose, can they buy just like an individual, or would they need to set up some form of Thai Company to make the purchase?

Thanks in advance for feedback

Your question is a good one - can a foriegn company buy a condo in the same manner that a foriegn individual can buy a condo? My guess (wait for the experts for a better answer) would be that yes, a foriegn company can do this. I would assume that the same requirement of proving that the funds came from outside of Thailand would apply. The question I have for you though is why is a foriegn company buying a condo? Are you planning on using it as an office or to rent it out? Depending upon what the business reason is for buying it, you may find that a foreign company is not allowed to do that type of business.

Hopefully someone with personal experience in this matter can provide a proper answer.

[Pappiklon]

Hi Donx

Thanks for the post, to answer your question about why in the name of a foreign company - I don't know, I'm the one selling the condo, the buyer is based in Europe and posed the question to me. My understanding based on the conversations we've had is it's his Company and he wants to purchase it in the Company name to live in himself when he's here.

[Pappiklon]

Just spoke with a lawyer who said yes a foreign company could buy it.....but as with many things here I kinda have a feeling there may be complications when it comes to doing the deed....any other experience on this would be most welcome

Many Thanks

[phetchal]

it's the same process for company owner or personal owner but it's cost more for tax( call business tax about 2%) when transfer deed to company name

[kanderson]

Just spoke with a lawyer who said yes a foreign company could buy it.....but as with many things here I kinda have a feeling there may be complications when it comes to doing the deed....any other experience on this would be most welcome

Many Thanks

I think if it's purchased in a Falong name it can be sold again for like 10 or 20% more. When I was shopping I only considered something in my name - not my wifes or company name.