Tips for buying an apartment in Thailand

Ask yourself how ready you are to Buy an apartment in Thailand? Today the question is so relevant among us that because of this on the Internet There were thousands of offers from hundreds of real estate firms. And here the first question arises whether it is possible to prepare and make a real estate purchase deal in Thailand or should contact the real estate agency, which will take on yourself all this hassle.

The first thing that a buyer faces is going to purchase Real estate is two options of ownership:

  1. It is already a foreign property and may be framed on him personally as a citizen of another country.
  2. If this apartment is still in Thai ownership, In this case, it cannot be framed.

What is Thai and foreign quota?

The quota is a part of the living space divided among Owners in the ratio: 51% owned by Thai citizens 49% can be sold to foreigners. It is on this part of the foreign quota will account for most of the proposals for sale from real estate agencies or from the developers themselves.

If the apartment is in a foreign quota, then the tax is enough substantial and it is paid by the buyer. For example, the cost apartments 2 million baht, registration in the City Hall of Thailand 10-15 thousand baht, tax on this property will be 6% of the cost.

Registration of the contract of purchase of an apartment in Thailand

Thai companies prefer to enter into contracts in Thai in foreign companies, you may be offered an agreement for English with Russian translation. Both options have power. Thats if there is a contract for buying an apartment in Thailand concluded in Thai and English, the preference will be surrender to the Thai contract. If the contract is concluded only on English, his Thai translation will be in the second plan.

Apartment purchase agreement in Thailand

Here is the contract for buying property in Thailand

You must clearly understand that no legal force is Russian contract option for buying property in Thailand have not will be, and that the Thai and English versions are also better to check for matching to each other. Your expenses depend on it, which you will incur in addition to the basic payments for the property.

To buy an apartment in Thailand, primarily in the contract need to pay attention to a few nuances:

  1. What is the quota apartment.
  2. Who is responsible for the transfer of property rights and to pay taxes.

Buying an apartment in Thailand

  • You should know English well, as Thai it is easier for civil servants to speak native Thai or international English, and no one obliges them to know Russian.
  • You yourself will have to deal with the design of all the necessary documents for the purchase of an apartment and its subsequent registration in City Hall of Thailand. Also, you will need to understand the subtleties in the peculiarities of the Thai laws.

Think again about whether you are ready to take on all the risks of buying property in thailand or should still contact to the services of professionals who defend your interests. Also, we advise you to read about taxes scum in Thailand, which you will have to pay for reissuing your own.

Buying an apartment from the developer

Real estate developer under the contract with the buyer share the costs of transferring ownership, about this too should be remembered when concluding a contract and again, do not forget about quotas.

Developers in Thailand are divided into two types:

  • Honest – will warn you immediately that the apartment already in Thai quota and you need to open a company to its redeem.
  • Fair fact honest – put you in front the fact when you will get the right setting documents, especially if you buy an apartment in the primary market of Thailand, then there is directly in the house under construction.

If you fall for an honest developer after the fact, and Thai apartment is in Thai ownership – this means the beginning of the procedure for registration of real estate through registration of a company with Thai founders is naturally not is free. Therefore, with the help of a lawyer, check the documents that provides you with the developer in Thailand. Lawyer check your contract, the compliance of the Thai version to English, or a Russian translation, check the company’s documents, to what extent the company is reliable. When the value of the transaction upon purchase real estate in Thailand from a million or more baht, appeal to lawyers definitely required.

What if you liked an apartment in Thai quota

In order to issue an apartment with a Thai quota, you it is necessary to open a company in Thailand, and only after that make out. Here a number of features arise.

1. We make financial investments

Opening a company provides for certain financial attachments. First, the company opens with a statutory capital equivalent to the value of the apartment in Thailand. Value depends on the size of the share capital the opening of the company. Next, the company needs an annual accounting services, even if it does not lead activities. These are certain costs to which the buyer Real estate in Thailand should be ready.

2. We think about security

The question arises, how to protect yourself? Thai who is the founder of your company, must give you a letter of refusal from their share in this company. It is fast enough and painless procedure, and having this letter in hand, you can change one Thai owner to another. And since the company already owns an apartment in Thailand, then she herself automatically becomes the property of new people of the company. After purchases of long-awaited housing, it is worth getting acquainted with the utilities payments that in the future “will fall on your shoulders.”

We also recommend to consider the issue of buying a house in Thailand The real estate market in Thailand whole

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