Owning more then one condo?????

[ozzy86]

Hello everyone, I have this question in my mind from long time, What happens if you own more then one condo????

 

I do own one condo in Bangkok, small one.... anyway if I want to buy a second one, will it be a problem?? The Gov could find it souspicios that I have more then one condo? and maybe think that I'm doing rental in black and stuff like that?  Or I can be quiet that I won't get problems owning 2 condos?

 

thanks

[blackcab]

No problem at all. Own as many as you want.

[chicowoodduck]

Wow, I don't own anything in LOS.....even my gf is coin operated....and that is just one reason I have a huge grin on my face......all the time.....go figure???!!!!??

[diehard71]

foreigners can own up to 20% of the rooms of a designated condominium available for sale to foreigners as long as you have proof that the money for purchasing the condo came from abroad,unless you have a permanent resident certificate in your name.

[blackcab]

13 minutes ago, diehard71 said:

foreigners can own up to 20% of the rooms of a designated condominium available for sale to foreigners as long as you have proof that the money for purchasing the condo came from abroad,unless you have a permanent resident certificate in your name.

 

Foreigners can own up to 49% of a registered Condominium (measured in square meters, not rooms).

Edited January 17, 2017 by blackcab

[diehard71]

sorry blackcab,i stand corrected 49% of the floor space can be foregn owned.

[AlQaholic]

No problem at all, in fact organized crime (like Bandidos and Hells Angels) use it as a convenient way to launder ill begotten money, they own hundreds of condos all over Thailand.

[Deepinthailand]

6 hours ago, chicowoodduck said:

Wow, I don't own anything in LOS.....even my gf is coin operated....and that is just one reason I have a huge grin on my face......all the time.....go figure???!!!!??

But you will go blind eventually ?

[bangon04]

so the OP also begs the question - if I own several condos and rent them out and collect the rental money, what sort of visa do I need to be a "landlord" . (don't need to rehash the TM30 debate - and if I am just collecting money from rent - am I working?)

[blackcab]

3 hours ago, bangon04 said:

so the OP also begs the question - if I own several condos and rent them out and collect the rental money, what sort of visa do I need to be a "landlord" . (don't need to rehash the TM30 debate - and if I am just collecting money from rent - am I working?)

 

It depends. Let's assume the rentals are all long term (over 30 days). The key words to consider are active and passive.

 

If you are actively advertising, arranging viewings, making repairs, cleaning, checking in tenants, solving disputes and generally getting involved in multiple properties then in my opinion you are working and you need a work permit. Included in this category is being on site managing and directing Thai staff. That is also working.

 

In contrast, if you have an agent who takes care of all of that and you get your money from the agent then you are passive and I don't believe you need a work permit.

 

I don't see any difference between passively receiving rental income or passively investing in the Thai stock market or passively being a shareholder in Thai limited company that pays dividends.

[mrfaroukh]

I know people in Pattaya have 6 condo.