Real estate with Offshore company

[ZEYO]

Hi all,

I plan to invest in condos in Bangkok. My question is : Can I buy the condos with my Hong Kong offshore registered company ? Or I have to create a new company in Thailand to run this investment programm ?

Thanks for your help

[Sunbelt Asia]

Purchasing a condo using your Hong Kong company would set the condo under the foreign ownership quota of the building and the money would have to be transferred in for the specific purpose of purchasing a specific company.

Also be aware that you would need to provide company registration documents and getting the embassy to certify + translate into Thai and certify at the Ministry of Foreign Affairs. Minutes of the shareholders meeting would also be required.

Another issue would be in opening a Thai bank account, a foreign entity would encounter problems opening a Thai bank account and could pay for the condo by transferring the funds directly into the seller's bank account and asking the seller to obtain the FETF from their bank.

If you wish to avoid these issues then you could open a Thai company to purchase condos but again, minutes of the shareholders meeting and company documents would be required. However, since these would already be in Thai then translation would not be needed and neither would the MoFA certification since the company is Thai.

[sunbeltlegal][/sunbeltlegal]