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 FOR SALE 2 bedroom apartment AT HILLSIDE
CONDO 7 --BEHIND CARREFOURE on the superhighway set back with view of the
south & bedroom facing East overlooking with excellent views. Very Quiet, has car parking, quiet tenants & total security. Spectacular views from
the 6th floor with BRAND NEW inbuuilt wood furniture with
kitchen/dining room fully furnished in tasteful timber throughout,2 bedroomswith private balcony; kitchen balcony, fully fitted & furniture throughout, parquet flooring; 2 large bedroom with
separate bathroom; hot water with 2 bathrooms; new kitchen cupboards; cooker & rangehood,
fridge,security,as new building, telephone line & can install ADSL for the buyer, right by Carrefoure superstore/ Payap University,
Security, card access to lifts and internal doors, TV,& the latest of the best Condos on
the market. This condo is fully furnished. Hard to get condo is close
to Payap University and schools; minutes away from the main centre of Chiangmai yet right by a Superstore just 2 minutes away; everything with superb views and cool. For sale 3.95 m baht. Refer Condo Hillside 7 -3
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