Frequently asked questions about property in Thailand
Consider the basic aspects of purchasing property in Thailand.
Under the condominium understand detached house or group of houses, consisting of several apartments. In most cases condominiums have a common courtyard, pool, Parking and security. In ECS, the higher class also has a restaurant, tennis court, Laundry facilities and other infrastructure.
- Can the Russians to buy a house or apartment in Thailand?
Under the law, a foreign citizen in Thailand can only buy apartments in condominiums. While there is a significant limitation - foreigners can own only 49% of ownership in the condominiums. And the remaining 51% can be owned by only Thais or registered in its territory companies. However, this applies to the condominium as a whole. The right of ownership to a separate apartment from foreign owner of one hundred percent.
- As a foreign citizen to buy a house in Thailand.
Directly to buy a house in Thailand foreigners are not allowed. For this, they need to register a company in Thailand and to buy a house on her. Thus will the chain belongs to the Russian company, and the company owns the house. Accordingly, the Russian head of the company will be able to freely dispose of all property of the company, including Villa. It should be borne in mind that a foreign national can only own 49% of the company, the remaining 51% must be owned by the people of Thailand. While there are legislative mechanisms that protect shareholder rights-minority shareholder regarding his property.
- How is the transaction of purchase and sale of real estate in Thailand?
All transactions related to the acquisition of real estate are issued to the Land departmentsthose. A contract, usually drawn up in Russian and English languages. However, the legal power of a contract, written in English.
- What are accepted methods of payment when purchasing property in Thailand?
To buy an apartment in Thailand it is common to use non-cash payments. The safest course would be to open a personal account at a Bank in Thailand and translated it means marked "for housing". And only after that to transfer money either to the seller or to the account of the developer.
- What does ' TT3 ' mean?
ТТ3 is a document without which the conduct of real estate transactions by foreigners in Thailand is impossible. This is a document issued by the Bank and confirmed on foreign investment. Under current law, a foreign national can purchase property in Thailand only if funds for the purchase came from another state , the currency should not be baht.
- Is it possible to register the apartment in the property of a few people?
Yes, this is possible.
- Is it possible to pass Thai the property by inheritance?
Yes. The apartment owner in the condominium has the right to housing transfer by inheritance. The name of the heir should be made to the document on the property right. If this entry had not been made, the inheritance occurs in the following order: priority right to receive property parents, then – spouses and children after them - the older adult male relative.
- IS IT POSSIBLE TO BUY A HOUSE IN THAILAND USING BANK LOAN?
If the buyer has a tourist visa, the credit is not available to him. The Bank issues loans if you have a work permit and banking history. The loans are secured by property. Annual interest rate as a rule, is about 8%.
- Does buying property in Thailand , any visa or other benefits?
No, any of the benefits of the acquisition of real estate does not. However, in itself a long-term visa in Thailand is much easier than in any other state. It is easily renewed from year to year.
Thai law sets many sorts of nuances and "gotchas" for potential foreign buyers of real estate. It is therefore desirable to entrust the registration of real estate transactions in Thailand professionals.