How you can legitimately own a condo, lease a house or land, and navigate the Thai property market as a foreigner. Contact me for the best real estate opportunities in Thailand 👉 jettgunther.com
The 51% thai ownership is just a loophole. You set up a company with 51% thai ownership but 0% voting rights. Set up the contract such that 100% of voting rights + 100% cash flow and economic gains go to you. I'm shocked how you just forgot to mention this.
He most probably didn’t mention it because it is illegal in many ways (circumvention of the Foreign Corporations Act, nominee business, false corporate goals), and once the authorities are after you, there is no argument you can use to get out of trouble
@@scottiebumich If you run a true rental business and live in the place yourself some of the year, that's not a problem. However, this is not what most people want. If you started the business only to provide ownership of a property to a foreigner, this is not a permissible business goal, and your official goal does not reflect the truth behind the real motivation. Besides, the goal of any business is to make money, which is not the case with these constructions. Also, employing 4 Thais is a requirement for hiring a foreigner, which has nothing to do with owning land and running a bogus company. In Phuket, police recently raided 44 real estate businesses. Just because you got lucky and didn't get in trouble doesn't make it legal.
The lease of land to build ur home is a dangerous game. Too much risk involved without guarantees. Also, locals get to buy same condo unit at lower prices which puts ur investment at a disadvantage from the beginning. Only move there if you want to retire. otherwise, just rent😊
I would never buy a house if i can’t own the land it sits on. I wouldn’t need acres, but a small lot with a garden and perhaps a pool should be acceptable to thailand or philippine governments. Anything else is risking a lot of money. In fact not being able to own land, encourages people without substantial money to come to these countries.
Is there a lawyer i can hire to check out multiple condos I might be interested in, and find out the legality status of each of them before I make an offer? Are all condo 'free hold'? Thx for your videos. Any help much appreciated.
Planning on moving in 3 years to Chiang Mai. We want a house not a condo what are the speculations for expats being able to own land? Thanks again and love your vids
As a foreigner, you cannot own land in Thailand. However, many ex-pats build houses all over Thailand with their Thai partners. Other “not that good options with high risks” are land leasing or building a Thai company that owns the property. Search for a reputable lawyer before making any moves.
NEVER BUY ALWAYS RENT!!! So many buy condos and have buyer’s remorse and are stuck. If you are a renter and dislike the roosters, mold in the building, noisy neighbors etc just pack and move. Purchase at your own risk and don’t complain about being shite on later. Good luck all!
Sooner they change the foreign ownership laws the better. Should be able to buy a house and land there not everyone wants to live in a condo. The Thia people can buy a house outright here in Australia no conditions.
No. Why should they become unliveable hellholes like western countries where foreign ownership contributes to ruined local generations. Thai laws should stay the same and make it extremely difficult for foreigners to come in and screw over the locals out of a basic human necessity like shelter.
tbh, If they allowed foreigner to buy property freely, everyone living in Europe or US could afford an home and the really rich people (billionaire/millionaire) would by all block of flats or some big part of any city. The locals wouldn't be able to compete with the farang.
I was watching a vlog from a RU-vidr based in BKK. He is originally from the U.S.. He mentioned in one of his blog that the condo price is different from locals & pricing is different for foreigners. Local condo pricing is a bit lower than a foreign buyer. Is this true?
Thanks for the video and the information And about the land and houses you say is not allowed But in condominiums ok Is their condominium came in shape as a small house with front yard And can I buy condominium in compound for the more safe almost like attach houses
i gave a question here.. what if i buy a house with a thai person 49% mine and 51% to the thai person... but the thai person is older much older then me. then that thai person dies of old age. who gets that house from the thai person?. will i have 100% ownership after that? will the thai government get that 51%? will fall into the wrong greedy hands?
asThai. It will never fall into foreign hands. The house will belong to the children or heirs of the original owner. If he has no children or heirs will belong to the government
If I have a criminal record in Canada can I move to Thailand and buy a condo to live and work there? I’ve been looking at getting my elite visa the 20 year one I just want to know if I could because I would love to move there
30 years is the maximum lease duration that is recognizable by law. Once that term is up, you'll need to sign a new 30 year contract and have it registered again at the Land Office, and so on. When you hear about other lease terms such as the 30+30+30 term that is often marketed by developers, only the first 30 years is legally locked in and the remaining two are a "promise" that they will agree to renew for two more terms. On paper, the latter 30+30 are not enforceable by law. But in reality, there hasn't been an issue before where a reputable developer has tricked the buyer, as their reputation is on the line and it just isn't worth it for them to forego their promise. In summary, the first 30 years is truly safe and legal. For the remainder, it's up to the lessor to asses the risk for themselves.
What exactly defines a condo with the whole 50/50 foreign ownership thing? Is it specific to the deed type of the property? Is it generally only newer developments that allow this?
All legitimate condos that are in compliance with the Condominium Act allow for 49% of its total livable area to be purchased by foreigners. If it’s a well known condo by a reputable developer, it’s legit. Can have a lawyer double check if you want to be extra careful.
It’s like musical chairs. If the foreign quota in a given condo is full, you will need to wait until one foreigner sells his unit, and then you can take up his quota.
All great, but wait until you sell, the bank will not release the money even with the proof you transfers it legally, then my Thai l partners” ( that’s a joke would not sign off until I gave them a massive pay off. DO NOT BUY, RENT.
Resale transactions are conducted every day with no problem whatsoever, so what is the reason why the bank won't release the money in your example? Regarding a Thai partner, foreigners can 100% own condos without needing a Thai partner, so why did the person in your example do so using a Thai partner, and why give them such authority to begin with?
@@JettGunther it was a villa, so land involved they had 51% B shares, non voting but came the time,they refused to sign, nothing to do with authority, they just refused, what can I do about that. They wanted 1 million THB each, in the end my lawyer got them to agree half even though I was paying them a six monthly dividend on a non profit making g business. Nothing is as it seems in Thailand, I still say DO NOT BUY RENT.
It's unfortunate to hear that, but the reality is that foreigners are not allowed to own land in Thailand. Trying to circumvent this using a company is grey area at best and illegal at worst. This is a different issue that shouldn't be grouped in with legal property ownership in Thailand. On the other hand, foreigners who have owned property legally have always had their property rights fully protected in Thailand. See "How to Protect Your Property Ownership Rights in Thailand" ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-gadpcWDbIyU.htmlsi=SAbPg-MHUEzPSMib
@@agentsmith2798 Most condos do not participate in the Elite Visa Flexible One program that you're alluding to. The ones that do usually have trouble selling and are looking for ways to sweeten the deal. Yes buying a condo has more purpose for the LTR, provided that you're also able to meet the visa's other requirements, most notably the income requirements. Can see this video for more info ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-evruHuPFXSk.html
