BUYING A PROPERTY not a Condo

[factseeker]

Hi,

Wife and I have 12 month retirement extensions - have had for 3 years now.

Is there any way at all to 'buy' a small villa - say in Hua Hin or Chiang Mai?

From what I have read it really is not possible to 'own' property in Thailand for Non Thai.

But on the other hand I see many such properties for sale and apparently previously 'owned' by Non Thai.

We do not want a Condo - we want a small piece of garden etc to ourselves.

At the price of a small villa we are prepared to take some 'risks' but only want acceptable legal stuff that would 'pass muster'.

So what is best to hope for?

Best Rgds.

Factseeker.

[MJCM]

I would recommend that in current climate with crack downs on everything it's IMHO not wise to go the company route. Rent at first would be my suggestion for now.

Good Luck

[KittenKong]

Houses "owned" by farangs here are usually in company name, often via a company that is illegally structured. Other options are leasehold, which is probably somewhat more legal.

Personally I would not touch either with someone else's bargepole.

[Boycie]

It is possible to own property (small villa) 100%, but not the land that it sits on or surrounding gardens.

But Thai Law allows foreigners to lease the land via registration at the land office for the maximum term of 30 years. (The land has to have a government paper NS4J or NS3) Fees and taxes will be have to be paid. There is also a usufruct contract that some offices issue at a low cost which gives you access/permission to use rights for the lifetime of the lessee.

All depends on your personal situation. Some people say just rent don't buy, where others are happy to spend X amount of baht, knowing the above conditions.

If you do find somewhere that you like, get as much information as possible, consult a lawyer one of your own choice in the local area if possible before handing any monies over, even a deposit.

I'm no expert, but just my two cents worth from experience.

Good info can be found at http://www.samuiforsale.com/

http://www.thailandlawonline.com/thai-real-estate-law/ownership-and-buying-real-estate-in-thailand

[SheungWan]

Divorce the falang wife, marry a Thai woman, buy a property in the new wife's name. Live happily ever after.

[iluvbeaches]

Company structure is not illegal if your purpose is to run it like a business, for rental purpose for example and make money and have Thai partners. The later is debatable as long as the Thai partners are relatively well off it won't be looked into further.

It's when you just want to own the house you "may" run into problems but even with the doom and gloom I've never heard of anyone forcibly having to sell the property.

Maybe someone can cite a newspaper article that isn't a "crackdown" but rather an actual forced sale.

Look at the "ownership" situation in many areas of Thailand.

[factseeker]

Divorce the falang wife, marry a Thai woman, buy a property in the new wife's name. Live happily ever after.

Good idea - trouble is I rather like the one I have - 30+ years and all that. ;o))

[factseeker]

It is possible to own property (small villa) 100%, but not the land that it sits on or surrounding gardens.

But Thai Law allows foreigners to lease the land via registration at the land office for the maximum term of 30 years. (The land has to have a government paper NS4J or NS3) Fees and taxes will be have to be paid. There is also a usufruct contract that some offices issue at a low cost which gives you access/permission to use rights for the lifetime of the lessee.

All depends on your personal situation. Some people say just rent don't buy, where others are happy to spend X amount of baht, knowing the above conditions.

If you do find somewhere that you like, get as much information as possible, consult a lawyer one of your own choice in the local area if possible before handing any monies over, even a deposit.

I'm no expert, but just my two cents worth from experience.

Good info can be found at http://www.samuiforsale.com/

http://www.thailandlawonline.com/thai-real-estate-law/ownership-and-buying-real-estate-in-thailand

Hi Boycie thnxs for reply.

Sort of prepared to risk losing it up to a certain amount - although of course would prefer not to do so.

Know something of the Usufruct.

I think the lease of land would be best - plus Usufruct because in 30 years I will be above the 100 mark - although all family very long lived there is a limit.

Best Rgds.

Factseeker.

[bangkoklawyer24]

You can set-up a company to buy and own the land and villa. The company can be structured in a way that you get 49% of the shares, 75+% or the voting rights, 100% of the dividend rights. You can be the king of the castle without any material restriction. Everything fully in compliance with Thai laws and policies. Details at http://bit.ly/Thai-land-guide

ABSTRACT: It is a highly controversial topic whether it is (still) a good idea for a foreign investor to use a Thai company to hold real estate in Thailand - or whether a leasehold investment is the only remaining option. This article explains that under a typical scenario real ownership through a Thai corporation is the preferable and most reliable investment structure. The threatening full application of existing laws and regulations (a.k.a. crackdown) is not a game changer. Foreigners can smartly invest in Thai land ownership and this guide shows how to do it.

[factseeker]

You can set-up a company to buy and own the land and villa. The company can be structured in a way that you get 49% of the shares, 75+% or the voting rights, 100% of the dividend rights. You can be the king of the castle without any material restriction. Everything fully in compliance with Thai laws and policies. Details at http://bit.ly/Thai-land-guide

ABSTRACT: It is a highly controversial topic whether it is (still) a good idea for a foreign investor to use a Thai company to hold real estate in Thailand - or whether a leasehold investment is the only remaining option. This article explains that under a typical scenario real ownership through a Thai corporation is the preferable and most reliable investment structure. The threatening full application of existing laws and regulations (a.k.a. crackdown) is not a game changer. Foreigners can smartly invest in Thai land ownership and this guide shows how to do it.

Hi,

Thnxs will check this out.

Factseeker

[dean008]

I know its nice to own your own place but of I was you I would not risk it, and as for the company route all it takes is a crackdown (as mentioned) or a change in the rules which could increase your annual costs significantly (it happened to me in another country). Would it not be better/safer/potentially cheaper in the long run to take out a long (I believe 30 years is permisable) lease?

good luck either way

[dean008]

cont. which is transferable should your plans change???

[GinBoy2]

In today's 'troubled' climate I'd be a little wary of any of the company schemes. We all know that it's a loophole which has up to now has been given the blind eye. That being said there does seem to be a touch of xenophobia in the current regime, the recent proclamations on foreign business ownership being a classic example. That they backed off from due to pressure from Toyota and the like, but I'm not so sure that a few land owning farangs would have the same clout.

My thoughts, or musings at least; either buy a condo which is totally within existing laws (I know this isn't what you want) or rent a house, at least until some more rational (if thats even possible here) administration comes into power

[bangkoklawyer24]

cont. which is transferable should your plans change???

A lease is not transferable. You can just terminate and enter into a new one - if the land owner cooperates.

Source: https://lnkd.in/bpESXP4

[sometime]

Lots of advice saying RENT, We bought our house 10 years ago in company name,no regrets because if we walk away tomorrow we will have lost nothing taking into consideration all the rent we would have paid.

No trouble with landlords, no excessive water and electric bills.

So if we have to leave we can sell to a Thai national very cheap and still be on the winning side.

Well that my two penneth,( English saying)

[liddelljohn]

I BOUGHT A HOUSE WITH COMPANY MANY YEARS AGO DUE TO CONTINUAL PROBLEMS AS A RENTER WITH USELESS LYING FECKLESS LANDLORDS ,

also a condo was out as i like space for my motorcycle collection and a workshop now i have it all for the last 11 years ,, no problems no hassle , i keep my property up and its currently worth 1.5m more than i paid for it,, saved a lot on rent over the years , cost of house 2.4m now worth 3.9m ,judging by recent sales in my village of some smaller units , current rental value 25 k per month so if i had rented for 11 years that would be over 3.9m baht down the swanny....annual cost of company including accounts has never been more than 20k .

mains water and village fees for security and rubbish collection twice a week about 600 bt a month are reasonable.

no one ripping me off .whats not o like..

BUT IF IN DOUBT about your relationships or wether you might move on RENT!!!!!

[scooter73]

Advice please, i have a 6 month old Thai baby, if i buy land is it possible to put it in my Daughters name rather than my soon to be wife ?

[Naam]

It is possible to own property (small villa) 100%, but not the land that it sits on or surrounding gardens.

But Thai Law allows foreigners to lease the land via registration at the land office for the maximum term of 30 years. (The land has to have a government paper NS4J or NS3) Fees and taxes will be have to be paid. There is also a usufruct contract that some offices issue at a low cost which gives you access/permission to use rights for the lifetime of the lessee.

All depends on your personal situation. Some people say just rent don't buy, where others are happy to spend X amount of baht, knowing the above conditions.

If you do find somewhere that you like, get as much information as possible, consult a lawyer one of your own choice in the local area if possible before handing any monies over, even a deposit.

I'm no expert, but just my two cents worth from experience.

Good info can be found at http://www.samuiforsale.com/

http://www.thailandlawonline.com/thai-real-estate-law/ownership-and-buying-real-estate-in-thailand

for a foreigner it is not only possible to own a small villa but also a huge mansion. what a foreigner can't own is land.

[AnotherOneAmerican]

Advice please, i have a 6 month old Thai baby, if i buy land is it possible to put it in my Daughters name rather than my soon to be wife ?

You can not only put it in your child's name, but have yourself appointed as manager on the chanote until baby aged 20.

But it needs your wife's co-operation at the land office, which may not be forthcoming.

Cash purchase only, no loans will be allowed against the property.

If anyone at anytime says 'can't do' assume sabotage from the wife.

Edited January 9, 2015 by AnotherOneAmerican

[scooter73]

Thankyou one American, just what i needed to know

[Langsuan Man]

Why not listen to one of TV's sponsors, Ask the Lawyer

http://www.thaivisa.com/forum/topic/723747-land-ownership-by-thai-company/?p=7778088&hl=company+name

[Pib]

Divorce the falang wife, marry a Thai woman, buy a property in the new wife's name. Live happily ever after.

Actually this story has several possible endings just to mention a few:

Divorce the farang wife, marry a Thai woman, buy a property in the new wife's name. Live happily ever after.

Divorce the farang wife, marry a Thai woman, buy a property in the new wife's name. Divorce Thai wife, she keeps property, start over again.

Divorce the farang wife, marry a Thai woman, buy a property in the new wife's name. Not live happily every after.

But hey, fortunately for me, after quite a few decades of marriage to my Thai wife the Living Happily Ever After and owning property in Thailand ending does exist...but I inserted a Usufruct in my name in this story if nothing else to make me feel a little better (whether it really helps or not).

[liddelljohn]

Be very careful dealing with pattaya land office as they are known to create duplicate chanotes and work scams with some local lawyers and real estate agents ...going to the police wont help as they see any land office scams as untouchable when local influential thais are involved .