Purchasing a Condominium:
Before, foreigners could only own (40%) of the aggregate unit space. This has been amended to 49% of the aggregate unit space although the ministerial regulations governing this change have not yet been issued. The new Act allows foreigners or alien juristic persons (majority foreign-owned companies) to own up to 100% of the aggregate unit space registered in a condominium up to 27th April 2004. The total development area in that case must be under 5 rai (8000 m2) and located in Bangkok, all municipal districts and "such other areas as shall hereafter be announced by the Minister of the Interior to be foreign owned, provided always (this is unchanged) that the funds for the purchase have been remitted from abroad". Foreigners
are allowed to purchase condominiums in Thailand. There is a
maximum quota of 49% foreign ownership ratio which is calculated on an
area basis. In order to purchase a condominium, foreigners are
required to transfer funds from overseas with funds denominated in
foreign currency. Once the funds are transferred, they are required
to be marked as a condominium purchase and needs to be verified through
obtaining a "Tor Thor 3" document from the receiving bank
in Thailand. The "Tor Thor 3" document is required when
transfering the Title Deed at the Land Department for foreigners. Who can own a condominium: Basically any foreigner who enters Thailand legally can
buy a condominium. If in doubt ask our lawyer: [ LAW
SERVICE ]
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If
you wish us to list your property, building, house or land for sale
please send us a copy of the title certificate as we will not list
any properties in Thailand any longer unless you fax a copy or scan
& email to us.
BEST
BUY FOR 2008 Rimping Condo. Luxury 20th floor, This is the best condo complex in Chiangmai on the Ping River. 161 sq metre condominium for sale on the Ping river in the most sought-after condo building in Chiangmai. Great location. Spectacular river, city and Doi Duthep views. Foreign owner selling. 3 bedrooms, 3 bathrooms, maids room/utility room with toilet. Large lounge dining area. Western kitchen with quality oven and halogen hob.Features include 4 air-con units. Dedicated phoneline. All floors
refinished. Walls and ceilings painted throughout. 2 brand new
bathrooms.Condominium facilities include 24hr security, swimming pool with fitness suite, in-house cable, river-front restaurant and allocated car parking space. Price 7m baht. Refer Ann-condo1
Write to cmhouses@gmail.com |
