What you must Know before Buying Thailand Real Estate

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by: ArchieLord
Word Count: 496
Date: Fri, 3 Feb 2012 Time: 4:56 AM
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So you are seeking real estate investment potentials in Asia. Why not look into Thailand real estate? Investment opportunities in this Asian country may give rewarding results. This short article can help you if you're considering Thailand real estate as a possible business enterprise.

First thing you have to know while planning to buy real-estate properties in Thailand is acquiring the right visa. Thailand grants tourist, work, investment, and retirement visas. For more info with regards to all these visa types, it is best to seek advice from the Thai Ministry of Foreign Affairs and the Department of Immigration.

After you have acquired your visa, the next thing is to search for Thailand real estate for sale. You could save time by getting some help from real estate brokers. They may offer you legitimate real estate resources. You also must find professional legal professionals just in case you don't have enough knowledge about legal methods in the country. They are well-versed in the local policies and systems concerning property investment.

You also need to find out regarding existing government laws. One of the most important matters you must understand would be the conditions concerning registration of the property. The Thai government allows foreign people to obtain real estate not beyond 1 Rai or 1,600 square meters. You need to prepare at the least 40 million Baht (or almost $1.3 million) for you to profit from your Thailand real estate investment. You have to transfer the amount right into a Thai banking account and acquire a permit on the Ministry of Interior.

After purchasing the property, perhaps you may now build your own Thai company. Only by establishing a company could you claim possession, as you have to register the property under your company. Your qualified Thai lawyer can help you with the process. Make sure you discuss with him before signing any file.

Like in various other countries, you need to register your company with a few gov departments. For American investors, they should observe strict compliance with the Thailand Amity Treaty. You have to also check out the regulations relating to corporate tax before acquiring ownership. Laws under it are often complicated and government bodies may perhaps modify them from time to time.

Another essential thing to know is you cannot resell your property within a period of five years. Only after this period, can you sell the property and profit from the sale.

The Thai government allows foreign investors to secure property ownership in different ways. You can own freehold condominiums, for example, given you have less than 50% ownership. The company's share capital must be divided into Ordinary Shares and Preferential Shares. Dividing it into these two classes helps preserve the interest of the foreign investor. These are some important things to consider before buying Thailand real estate. You may check online for more details on smooth and efficient acquisition of your Thai property.

About the Author

The author is interested in Thailand real estate and is looking for condos in Thailand.