How to Buy Condo in Thailand as a Foreigner | Part 2
ฝัง
- เผยแพร่เมื่อ 15 มิ.ย. 2024
- 𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐅𝐨𝐫𝐦 | 𝐓𝐡𝐞 𝐋𝐚𝐰𝐲𝐞𝐫: 𝐕𝐢𝐳𝐞 𝐂𝐨𝐮𝐧𝐬𝐞𝐥𝐨𝐫
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Are you considering buying a condo in Thailand but have questions about the process? In this video, we'll address some common queries to Jimmy, the lawyer, Vize Counselor owner, about purchasing condominiums in the Land of Smiles.
More videos with the Lawyer:
👉 Buying a CONDO in Thailand Part 1 | THINGS TO KNOW
🔗 • Buying a CONDO in Thai...
👉 Buying Land and Home in Thailand as a Foreigner (video with a Lawyer)
🔗 • Buying Land and Home i...
1. Can I Own a Condo in My Own Name as a Foreigner?
Yes, you can own a condo in your own name without needing a Thai company or special visas. Thai law allows foreigners to own a portion of the units in a condominium building.
2. What's the Buying Process Like?
The process is relatively straightforward. You put down a deposit, sign a contract, transfer the money to the bank, and provide necessary documents like a foreign exchange transcript. The developer often assists with these steps.
3. Taxes and Fees
Taxes and fees can vary depending on your agreement with the seller. Typically, buyers may need to pay a transfer fee of around 1.5% of the property value. Property tax is also applicable, typically around 10% of the annual rental value.
4. Due Diligence is Key
Due diligence is crucial when investing in Thai real estate, especially for high-value properties. Ensure that the property has a clear and legitimate title to avoid potential issues.
5. Renovations and Modifications
You can renovate or modify your condo, but larger projects may require permits. Consult with local authorities to ensure compliance.
6. Buying Secondhand Condos
Check the quota of the building before purchasing a secondhand condo. Some buildings have restrictions on the number of foreign-owned units.
7. Dealing with Real Estate Agents
Always conduct due diligence on real estate agents. Research their reputation and ensure they have a good track record in the industry.
8. Owning a Condo and Staying in Thailand
Owning a condo doesn't grant automatic residency in Thailand. Visa requirements are separate from property ownership.
9. Benefits of Property Ownership
Some property developments may offer additional benefits like eligibility for Thailand Elite visas for high-value investments.
10. Protect Your Investment with a Prenuptial Agreement - Consider a prenuptial agreement to safeguard your property investment, especially if you have a Thai partner or plan to marry in the future.
In summary, buying a condo in Thailand as a foreigner is possible and relatively straightforward. However, it's essential to do your homework, understand the associated taxes and fees, and consider legal protections like prenuptial agreements to ensure a smooth and secure investment. If you have more questions or specific requirements, don't hesitate to contact a legal expert or real estate professional for guidance.
👉 Buying a Condo in Koh Samui
🔗 • Wing Samui Condo Const...
Thailand Easy Telegram group
🔗 bit.ly/3JHjTXi
0:00 - Introduction
0:36 - Can I Own a Condo in My Own Name as a Foreigner?
1:29 - What's the Buying Process Like?
2:20 - Taxes and Fees
3:15 - Due Diligence is Key
4:01 - Renovations and Modifications
4:47 - Buying Secondhand Condos
5:33 - Dealing with Real Estate Agents
6:28 - Owning a Condo and Staying in Thailand
7:17 - Benefits of Property Ownership
8:04 - Protect Your Investment with a Prenuptial Agreement
8:52 - Conclusion
11:20 - Contact Form
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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐅𝐨𝐫𝐦 | 𝐓𝐡𝐞 𝐋𝐚𝐰𝐲𝐞𝐫: 𝐕𝐢𝐳𝐞 𝐂𝐨𝐮𝐧𝐬𝐞𝐥𝐨𝐫
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Excellent video ! Helps us understand how to buy and more
Thank you for support!!!
Thanks for the video!! Awesome information 🙏🏻🙏🏻
Appreciate, Duran!!
If I ever look into buying a condo there I will for sure take into consideration this law firm
thank you for your comment
Quality inputs! 🥰😊👍
Glad you think so!
Very interesting
I think so too!
every time it gets better and better! Keep it up, bro!!
until I'll make a Video of me buying a Condo in Thailand
@@THAILANDEASY_ yes 😊
@@4985muhammadali dreams are coming true
@@THAILANDEASY_ Congratulations 🎉 Edward 😊
@@4985muhammadali Thank you my friend
I'm coming over to Thailand in about a month. I plan on hiring this particular attorney. So these videos or not for nothing. Thank you so much
Great! You can leave your details in the contact form when you coming 🙏🏻 Thank you
what about the prices for condos now compare to few years ago
Gone up slightly due Thai currency got stronger.
Hi! And thanks for this video! I would like to know what is the delay of procedure between the moment you decide to buy and the day you get the keys of your condo?
Hello! If the condo is built , you transfer your name withing a day.
Check my video with Condominium ready for sale in Samui
th-cam.com/video/hIp-R3VTAdA/w-d-xo.html
And the one under development
th-cam.com/video/PfA1maxywT8/w-d-xo.html
(you get your keys in Summer 2024)
Good info
Glad it was helpful!
Edward in suit?😮
Bangkok Official attire time
Biggest question is, financing. As a foreigner, what options are available for paying for the condo? Does it need to be all cash, do condo associations provide internal financing with a down payment? Thanks
They need cash. Cash from the abroad only, although there are ways how to make it work with cash earned in Thailand too. You can ger finance from Thai Bank as long as you are the resident with the required income
@@THAILANDEASY_ so no internal financing through the condo developer then? This area is very unclear, thx
@@misteramsterdam8181 Haven't heard about it, if you find something, please let me know, I'll tell about it here
@@THAILANDEASY_ - can you elaborate more on buying a condo if you are already living in Thailand and your money is coming from here. Thank you
Hi!
Sathorn and sokomvith in Bangkok near train station
I want condo or apartment
hello, my only concern is about the transfer. If i have to buy a condo like 2.500.000 baht, i can transfer 5 times 500.000 baht from aboard in different time? and can I transfer from different Bank always from aoutside thailand?
if you buying with a help of a real estate, they will give you some tips on how to do it the best way
What happens if they don't honour your visa after buying a condo? Also how much would an elite visa cost and is it better than a retirement one? thanks
Retirement Visa is much cheaper but need renewal every year. For the Elite Visa 5-year memberships:
The new GOLD Package costs 900,000 THB.
10-year memberships:
The new PLATINUM package costs 1.5 million THB.
If I purchases condo for at least 5 million baht you get elite visa ? I looked and it says it costs around 32k Aud so by purchasing condo I would save money on purchasing elite visa???
Hello. I've never hear that you get any benefits like elite visa when purchasing the condo. Of you have any updates , please, share some links, would appreciate
You where discussing it at 10:37 I don’t know if got that right “do you get any benefits for purchasing condo he said you get elite visa and you said that it must be at least 5million ?
Next question: how to get permanent residency and potentially citizenship.
Get married to a Thai Person or invest a huge amount of money. Definitely making video on this one day
What is the lawyer fees when buying a condo
you can leave your details, they will get back to you 𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐅𝐨𝐫𝐦 | 𝐓𝐡𝐞 𝐋𝐚𝐰𝐲𝐞𝐫: 𝐕𝐢𝐳𝐞 𝐂𝐨𝐮𝐧𝐬𝐞𝐥𝐨𝐫
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Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $260K for sometime now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions.
Wrong forum dude
How i can find a Lawyer please
hello. you can fill up the form in the description, they will get back to you
The biggest disadvantage is you will not get any complimentary visa like they give in UAE🇦🇪 or any middle east country, i have money i can buy a condo , but 😂 indian national gets only 15 day visa on arrival, nowadays they are making thailand very expensive, increasing the price of elite visa also, lots of good options in laos 🇱🇦 Cambodia 🇰🇭 and Vietnam 🇻🇳
Indeed. Unless you are 50 yo and you can make a Retirement Visa and live peacefully in your condo
Why you look like drunk
I'm not. Maybe nervous ahaha