Clarification needed on foreigner quota

[SheungWan]

I have been told by one person that the quota in Pattaya is now being enforced and that foreign owners of apartments in older apartment blocks where the quota has been clearly exceeded cannot now effect a foreign owner transfer. Any corroboration of this?

How about this?

http://www.thaivisa.com/forum/topic/774461-49-foreign-ownership/

Yes, exactly that. However my contact also informs me that the window for envelopes being used to effect a transfer is now closed and that foreign ownership re transfers in such buildings eg Center Condo, Yensebai and others are now screwed.

'er, am hearing that the envelopes are back in. That didn't take long, Maybe it was seamless......................................

[Issanman]

I would like to know if foreign ownership is available in all condo developments in Thailand or is it only available in specific condo developments which have been designated as eligible?

[KittenKong]

I would like to know if foreign ownership is available in all condo developments in Thailand .....

I have never seen one in which it wasn't.

[somerville52]

Nearly 3 years ago I bought 3 condos in Center Condo , Pattaya from foreigners & transferred them into my( foreigner ) name . Recently I was shocked when informed that I couldn't sell/transfer into foreign ownership & that my 3 purchases were done illegally by bribes/ /envelope by the agent who arranged the 3 sales & accompanied me & the 3 sellers to & at the Local Land office ; as the foreign quota at the time was over 70%.

I was told that currently over 70% of condos in Center Condos are foreign owned .

Does anyone know for sure if the envelopes are back in again yet ? Any other advise please .

[Delight]

This is the way that I see it ,and this is just a wild guess.

If at the time of the original transfer when your three condos were registered in foreign names ,space was legally available in the foreign quota.

Certain transfers ,subsequent to yours, breached the 49% max.

Therefore those condos that breached the foreign quota limit should,in theory , be re -classified.

Suspect that only a judge can decide.

I suspect that Pattaya has many condos with this same problem.

It is a big issue.

[KittenKong]

Nearly 3 years ago I bought 3 condos in Center Condo , Pattaya from foreigners & transferred them into my( foreigner ) name . Recently I was shocked when informed that I couldn't sell/transfer into foreign ownership & that my 3 purchases were done illegally by bribes/ /envelope by the agent who arranged the 3 sales & accompanied me & the 3 sellers to & at the Local Land office ;

Never trust real estate agents in Thailand. Most of them have no qualms about breaking the law or putting the buyer or seller into a bad or illegal situation as long as they get their fee, which is the only thing they are interested in.

[Langsuan Man]

This is the way that I see it ,and this is just a wild guess.

If at the time of the original transfer when your three condos were registered in foreign names ,space was legally available in the foreign quota.

Certain transfers ,subsequent to yours, breached the 49% max.

Therefore those condos that breached the foreign quota limit should,in theory , be re -classified.

Suspect that only a judge can decide.

I suspect that Pattaya has many condos with this same problem.

It is a big issue.

You are correct that it is a wild guess but.

incorrect, once a condo is accepted and registered at the Land Office (legally) in the Foreign Quota that does not change the status of that condo down the line if the Thai farang ratio changes due to death or sales of other condos since that does not effect the condos that are legally registered in the foreigner quota. In other words, the condos are "grandfathered" as being in the farang quota. And in the case of Center Condo it was done as an emergency measure during the Asian Economic Crisis

To somerville52 are your Chanotes in your foreign name and if they are then the Land Office will have to explain what happened and why they issued you, a foreigner, a Chanote and who informed you that

I couldn't sell/transfer into foreign ownership ?

[Delight]

A question –in relation to the breaching of the 49% rule -was posted on the ‘Ask the Lawyer ‘blog

The reply:

When buying a condo, the Land Office requires a letter from the manager of the building stating the ratio of foreign owners to Thai owners. If this sale puts the ratio over 49% then the official at the Land Office will reject the sale. This has obviously been circumvented in the past.

Can you quote your source as to the ‘Grandfather ‘ concession.

Also the Center condo was built in 1990(according to their web site).

The Asian financial crisis started in 1997.

Again please quote your source.

[Anthony5]

Of course the quotas have been changed at one time it was allowed 100% foreign quota..

A minor technical point of no real importance, but I understood that the quota was increased from 49/51 to 70/30 during the last crash, but that was as high as it ever got.

In the past foreign quota allowed has been as high as 100%, and until today the building that qualified for those high quotas are grandfathered at the LD.

http://www.thaivisa.com/forum/topic/780802-owning-condos/?p=8751387

[SheungWan]

Nearly 3 years ago I bought 3 condos in Center Condo , Pattaya from foreigners & transferred them into my( foreigner ) name . Recently I was shocked when informed that I couldn't sell/transfer into foreign ownership & that my 3 purchases were done illegally by bribes/ /envelope by the agent who arranged the 3 sales & accompanied me & the 3 sellers to & at the Local Land office ; as the foreign quota at the time was over 70%.

I was told that currently over 70% of condos in Center Condos are foreign owned .

Does anyone know for sure if the envelopes are back in again yet ? Any other advise please .

I am informed that the envelopes are back in again.