Keith Dickons Posted December 12, 2004 Share Posted December 12, 2004 I am at present looking at a few properties in Hua Hin and was wondering what the best way is to buy and own the property. I have been told that opening a business will be the easiest way. What implications does this have as it involves having Thai partners. Link to comment Share on other sites More sharing options...
ZOVOX Posted December 12, 2004 Share Posted December 12, 2004 I am at present looking at a few properties in Hua Hin and was wondering what the best way is to buy and own the property. I have been told that opening a business will be the easiest way. What implications does this have as it involves having Thai partners. <{POST_SNAPBACK}> If you buy a condo, you can do it in your name because it requires no purchase of land. Foreigners cannot own land in Thailand, with one exception, if you purchase 1 rai of land at a cost of 40 million baht, which probably does not apply to most property purchases. There are a number of ways to get around this, but my lawyer says that these are the most common methods used 1) purchase the land in a Thai national's name (usually wife) and have her lease the land to you, or have a mortgage registered at the land dept. 2) setup a thai company Link to comment Share on other sites More sharing options...
Keith Dickons Posted December 12, 2004 Author Share Posted December 12, 2004 I am at present looking at a few properties in Hua Hin and was wondering what the best way is to buy and own the property. I have been told that opening a business will be the easiest way. What implications does this have as it involves having Thai partners. <{POST_SNAPBACK}> If you buy a condo, you can do it in your name because it requires no purchase of land. Foreigners cannot own land in Thailand, with one exception, if you purchase 1 rai of land at a cost of 40 million baht, which probably does not apply to most property purchases. There are a number of ways to get around this, but my lawyer says that these are the most common methods used 1) purchase the land in a Thai national's name (usually wife) and have her lease the land to you, or have a mortgage registered at the land dept. 2) setup a thai company <{POST_SNAPBACK}> Thanks for the reply. What is involved with setting up a Thai company, and what legal rights do the partners have in the company. What would happen if i decided to sell the house at a later date. Link to comment Share on other sites More sharing options...
ZOVOX Posted December 12, 2004 Share Posted December 12, 2004 I am at present looking at a few properties in Hua Hin and was wondering what the best way is to buy and own the property. I have been told that opening a business will be the easiest way. What implications does this have as it involves having Thai partners. <{POST_SNAPBACK}> If you buy a condo, you can do it in your name because it requires no purchase of land. Foreigners cannot own land in Thailand, with one exception, if you purchase 1 rai of land at a cost of 40 million baht, which probably does not apply to most property purchases. There are a number of ways to get around this, but my lawyer says that these are the most common methods used 1) purchase the land in a Thai national's name (usually wife) and have her lease the land to you, or have a mortgage registered at the land dept. 2) setup a thai company <{POST_SNAPBACK}> Thanks for the reply. What is involved with setting up a Thai company, and what legal rights do the partners have in the company. What would happen if i decided to sell the house at a later date. <{POST_SNAPBACK}> My lawyer says that the company would have to have the majority shares owned by thai nationals i.e 51% plus, but you can remain in control of the company, even if you have minority shares, by being the director of the company. I guess, you would then be able to sell the property when you please, but it's best to check with a lawyer yourself, especially about the rights of the partners - good luck !! Link to comment Share on other sites More sharing options...
astral Posted December 12, 2004 Share Posted December 12, 2004 Try some searches in this section. Link to comment Share on other sites More sharing options...
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