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Legal Facts


Phuket apartments for sale

Foreigners can't own land in Thailand, so in most cases you will buy a condominium where foreigners are allowed to own 49 % of the society. In Patong we are now developing an partment complex with 12 units in a very quite area close to Patong Hill.

Phuket house for sale

In most cases you need to lease the land / house since you are not allowed to own land in Thailand, such leases usually last for 30+30+30 years. Another aproach may be to register a company who owns the land. There are lots of housing projects around Phuket, from 3.5 million baht up to high end market at 45-50 million baht.

Phuket land for sale

Land prices has been increasing in Phuket during the years, expect to pay around 5 million baht per rai (1600 sqm) in south Phuket. Make sure you will get a proper land title indeed.

 

How to Purchase your Condominium


You have three choices

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 lawyers and they will help you with this to make sure everything goes smoothly.


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.

Lotus Residence can recommend several firms to you and assist you in establishing your Thai company. Currently, Thailand is trying to close the doors on this method of ownership.


Leasehold

Leasing a condos is also another ownership method. Currently you lease for 30 years and get a 30 + 30 year extension.


Advantages of Thai Company and Leasehold

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.

 

Land Titles

 

There are many different types of land titles in Thailand, the majority of which do not allow for the legal right to build on that land. As Phuket Best Homes we only recommend 3 land titles;

1. NOR SOR 3:

This is the lowest land title which allows for legally building a property, but is not ideal as the land is measured approximately. There are no markers to indicate the boundaries of the land.

2. NOR SOR 3 GOR:

This land has been measured using aerial survey to set the points and land area. This land can be sub-divided into separate plots.

3. CHANOT ( land title deed ):

This land has been accurately measured using GPS to set the area and boundaries of the land. The boundaries of the land are indicated by numbered posts.

 

Measurements in Thailand

 

Land is measured in Rai, Ngan and Wah.

1 Rai = 4 Ngan (or 1600 Sq.m.)
1 Ngan = 100 Wah (or 400 Sq.m.)
1 Wah = 4 Sq.m.
1 Acre = 2.5 Rai
1 Hectare = 6.25 Rai

Metric measures are usually used in the construction and measurement of buildings. Land prices are usually expressed in Baht per Rai or (for smaller plots) Baht per Wah.

 


 Please send your inquiry to: info@phuket-besthomes.com
or call directly on of the numbers below!

 
Condo for sale
Condo for rent
Apartment for sale
Apartments for rent
House for sale
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Eng./Thai:
+66 81 895 7597
(Kuhn Jaturong)
Eng./Thai/German:
+66 81 970 1479
(Kuhn Kitty)
Eng./German:
+66 81 892 8526
(Kuhn Peter)

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