HOW TO PURCHASE YOUR CONDOMINIUM

You have two choices -

Freehold

The easiest way to own property in Thailand is to purchase a condominium. As a Foreigner you can purchase in your own name. Under Thai law Foreigners are permitted to own up to 49% of the units in any condominium block. You also have to prove that the money for the purchase arrived from abroad by filling out a Tor Tor 3 forms prior to transferring the money into our account. Ask our staff and they will be more than happy to help you with this to make sure everything goes smoothly.

* Note - freehold cost an extra 5% in legal fees

Thai Company

Establishing a Thai company is relatively easy, straightforward, inexpensive to operate and can be handled by reputable legal accounting firms based in Phuket. Patong Harbor View can recommend several firms to you and assist you in establishing your Thai company.

Legal Fees

Initial cost is about 30,000 baht and annual fees will be another 20,000 baht per year.

Advantages

Using a Thai entity allows foreign buyers to acquire a condominium title apartment after the 49% foreign ownership level has been reached.A Thai company is also eligible to apply to a Thai bank for mortgage finance on a Condominium, provided the company meets Bank Lending criteria. Patong Harbor View can introduce you to a Thai bank which may provide mortgage finance.

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This information has been prepared as a guideline only and every effort has been made to provide accurate information. The management Company does not accept responsibility for the accuracy of this information and recommends that legal council as the best source of information for laws in Thailand.