subject: Remember Some Fact While Buying A Thai Property [print this page] Owning Thai property is of many ways. But some of the ways are very important to own property in Thailand. You should know these facts:
1. You must have the title deed in your own name: it is one of the most important forms of ownership among foreigners who are residing in the Thailand to own any property particular in their own name. For this you have to register yourself as well as you have to follow the rules of Condominium Act. There is a rule for non Thai citizen that total sell able area of the condominium can be owned in a foreign name. So from this it is clear that if you are non-Thai citizen then it is very easy for the people who are non-Thai to buy and register a condo in his own name. 51% of the remaining must be owned by any companies or Thai persons. Like this there are laws for hus til salg in Thailand.
2. Register Thai Company Limited: as we have discussed above at least 51% of the sell able are of a condominium must be owned by Thais. We know most of the buyers are foreigners, so this problem is solved by setting up a Thai company in order to own the condo units which are bought by any foreigner. The buyer of the company will be the only Director of the company and he will also be the largest shareholder by owning 49% of the shares of the company. Now there are remaining 51% shares, according to the law which must be owned by at least two Thai people or companies who are acting as nominees. These two Thais will have to sign "transfer share documents" so in case investor wants to change the Thai nominee share holder he can change. The Director is the whole and sole of controlling the activities of the company and its shareholders.
This is the way by which you can own a Thai property whether it is Hua Hin or any other place of Thailand. It is necessary that you must be aware of entire rules and regulations of owning or selling the property in Thailand, especially if you are a foreigner.
by: Georgine Hadden
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