Foreign Buyer's Guide

- Book unit by Credit Card/ oversea currency transfer
  - Overseas foreign fund transfer
    - Transfer full payment by remit foreign currency from oversea source into Thailand
- Information required for transfer payment
  - Bank name
  - Bank account name and number
  - Bank Address
  - SWIFT code
  - Purpose of transfer : Clearly specified for purchasing condominium in Thailand
- Required Documents
  - A copy of passport
  - A copy of credit card (if pay by credit card for booking)
The Condominium Act

Is it legal for a Foreigner to own a property in Thailand?

The Condominium Act (B.E. 2522) allowed foreigners to own a maximum of 49% of total area in each condominium project. There is two type of ownership option for purchasing a property in Thailand:

Freehold ownership
- Offering full property ownership
- Owner are granted with full right
- Common property is managed and maintained according to the resolution of co-ownership.
Leasehold ownership
- Foreigners are not permitted to own land in Thailand which restrict foreigners to own individual buildings or property with land together. However, could lease in a long term or there is alternative legal way to acquire the right of land.
- Land lease could be registered for maximum 30 years and renewed afterward.
  Common lease term: 30 years +30 years + 30 years = 90 years ownership for foreigner
- Foreigners could also own freehold land and houses by registering a company in Thailand.
How to Purchase a property in Thailand?
1. Book a unit
2. Settle 25% payment of the unit price
3. Sign contract within 14 days
4. Unit inspection
5. Settle remaining 75% within the next 14 days for completed projects
  or upon the completion for “off plan” projects
6. Transfer Title Deed at Land Department

How to Transfer Ownership?
- Declare for Source of Funds
  - Foreign Exchange Transaction Form (FET) or Confirmation letter of International Fund issued by receiving bank
- Name of beneficiary listed in FET must be the same as buyer name written in contract
- Our after-sales service team could offer you the best suggestion and detailed information according to your requirement. We also strongly suggest that you consult a Thai lawyer directly for issues relating to transfer of ownership.
- - 2% Transfer Fee
  - Common Area Maintenance Fee for general upkeep and running of the condominium
  - Sinking Fund Fee for repair and upgrade of the condominium
  - Electricity Meters and Water supply registration fee, insurance and monthly service charge
- - 1.1% Lease registration fee which could be split between or settled by buyer and/or seller as consensus.
  - Common Area Maintenance Fee for general upkeep and running of the condominium
  - Sinking Fund Fee for repair and upgrade of the condominium
  - Electricity Meters and Water supply registration fee, insurance and monthly service charge
  .
- - Specific Business Tax (SBT)
    - Total 3.3% including business tax + Municipal tax
    - SBT is applied if seller has possessed the property less than five years
    - Stamp duty is exempt if SBT is charged
  - Stamp Duty
    - Vary rates imposed according to law
    - Only applicable when SBT is not applied
  - Withholding Tax (WHT)
    - Company as seller: WHT is fixed at 1.1% of the higher amount of either the Land department ‘s official appraised value or registered sale value
    - Individual as seller: WHT is calculated at a progressive rate based on the appraised value of property and the duration of the seller’s ownership
- Retirement Visa – Thailand has become a popular choice for foreigners when it comes to choosing a retirement destination – it is warm, exotic, has a huge variety of good food, and offers one of the World’s best standard medical services. Here’re the basic requirements:
  - Are aged 50 years or over
  - Satisfy basic criminal and health check
  - Proof of financial requirements:
    - Monthly income or pension of no less than THB 65,000; or
    - Deposit of at least THB 800,000 in a Thai bank for 2 months prior to filing date, and at least 2 months after granted permission
  - New – retaining minimal deposit balance of THB 400,000
- Smart Visa – Smart Visa is designed to attract highly skilled employees, executives, investors, and start up entrepreneurs to work or to invest in the targeted industries in Thailand. The criteria are different in each category, and the sponsoring company must be designated and endorsed in those targeted industries.
- Business Visa – This is a standard visa type that will be issued for employees working in Thailand. It has to be sponsored by an employer or the company in Thailand.
- Elite Visa – Operated by Thailand Privilege Card Co., Ltd, state-owned enterprise within the Tourism Authority of Thailand (TAT), Elite Visa is a “Privilege Visa”, which allows foreigners to live up to 20 years with complimentary benefits. Elite Visa requires buying into membership. You can learn more at www.thailandelite.com
- Investment Visa – Investment Visa is a renewable 1-year visa for foreigners who invest in specific assets including Thai Government Bond, Property, or having fix deposit account in a Thai Bank, for a total value no less than 10 Million Baht. The visa has no age restrictions, and it is extended to immediate family.

Chidlom + -

Chidlom is close to the heart of Bangkokians. It is a landmark where old buildings adjacent to metropolitan icons. For few that are truly privileged, they call it home. For the rest, it is a destination of self-indulgence with stunning shopping malls, Michelin-rated restaurants, world-class hotels & offices, prestigious schools and international hospitals. For years, this neighbourhood remains a stylish touch to this charming metropolis.

Great convenience, unique identity & excellent facilities make a life at Chidlom a remarkable journey. For privileged ones, Chidlom is an iconic neighbourhood that rivals the world’s greatest postcodes, from Fifth Avenue (New York) to Knightsbridge (London). It is a place of great memories where they grew up in a beautiful community, be inspired by the story of the fast-paced urban development and called this special place home after years living abroad.

Conveniently set in the center of Bangkok, Chidlom is the city’s most enviable neighborhood for both affluent locals and foreigners alike. Marked by luxury label-loving malls, the biggest of which is Siam Paragon, a mecca for any local and foreign shoppers coming to Bangkok. Everyone who comes to Bangkok will find themselves in this mall. There’s another shopping mall called Gaysorn where you’ll find all the luxury labels such as Gucci, Louis Vuitton and Dior. The Central Embassy Department store is a new build (located one station away at the Ploenchit BTS station), and it has all of the major high-end fashion brands from around the world. The Park Hyatt Hotel just within the mall, and other hotels in the area include the St. Regis, Okura, Plaza Athénée, Conrad, Grand Hyatt and Kempinski.

Moreover, massive Lumpini Public Park and the National Sports Arena draw crowds from across the city.

Thailand’s oldest university, Chulalongkorn University, is located in in this area as well as leading educational institutions such as Mater Dei School.

Although not directly in the neighborhood, it’s a quick commute to the Shrewsbury International School (ages 3-18) and the American School of Bangkok (pre-kindergarten to grade 12).

Chidlom is a mix of local and foreign residents in academics, the medical profession, diplomats at foreign embassies, business professionals and a sprinkling of wealthy retired people who keep pied-à-terres in Bangkok.
Silom + -

Sala Daeng is a gold mine for investors, as it is a residential area as well as central financial and business district rolled into one. The area is Bangkok’s most internationalised quarter as it is surrounded by various embassies and multi-national corporations. Sala Daeng is only 3 BTS station from Siam Square, where shopping paradise like Siam Paragon and Central World Plaza are located.

This area also houses One Bangkok, an upcoming fully-integrated lifestyle destination, which becoming a new global landmark in Bangkok.

Compared with other areas, what makes Sala Daeng attractive is also its residential appeal. Situated in the center of the district, Saladaeng One is one of the few addresses to offer a freehold residence with a staggering view of the historical Lumpini Park, one of the largest green spaces in Bangkok. The project is located nearby a BTS and an MRT station, which makes travelling in Bangkok a breeze. The area also consists of world-class hotels & offices, prestigious schools and world’s standard hospitals.

This makes it a perfect location for investment and an excellent addition to anyone’s property collection.
Sukhumvit + -

The BTS Sukhumvit line cover most of Sukhumvit area, including the lifestyle hub -Thong Lor, as well as trendiest residential neighbourhood – On Nut.

THONG LO

Since the area is serviced by the efficient BTS mass transit system as well as by seamless connectivity to major city thoroughfares such as Asoke, Ekamai and New Petchburi Road, Bangkok’s property market has always turned the spotlight on Thong Lo

Thong Lo is also considering the neighbourhood of Bangkok’s most influential families, many of which maintain multi-generational family compounds in the area. Moreover, it is a major commercial area with offices of local and multinational corporations as well as an array of businesses. Walk up the street (and its side alleys) and you’ll encounter chic vintage shops, independent designer houses, artisanal boulangaries, fashion-forward hair salons, custom motorcycle salons, premium supermarkets, specialty children’s boutiques and upscale home décor stores. The latter includes DM Home, where specialist interior designers scout the globe for the best selection of exquisite luxury designs.

While the street is known for all things hip and trendy, there has been a shift in the demographics, which now exude a more international vibe. A large percentage of Bangkok’s Japanese expat population lives in Thong Lo, and that’s why plenty of excellent izakaya, ramen and sushi joints as well as a complete Japanese dining and retail complex, Nihonmura are one part of Thon Lo’s sophisticated multi-faceted lifestyle.

The affluent Thai and expat residents in the area has also spurred the development of the local infrastructure, including world-class hospitals, international schools, shopping malls, Michelin-starred restaurants, and dazzling bars. Countering its reputation as a nightlife hotspot, Thong Lo serves as a family-friendly neighbourhood, with easy access to public parks, playgrounds and extracurricular classes.

Thong Lo is truly Bangkok’s lifestyle hub with a living experience unmatched elsewhere in the city.

ON NUT

On Nut is known to be Bangkok’s trendiest residential neighbourhood for both locals and expats due to its accessibility as well as the number of amenities in the area. On Nut is only 3 BTS stations away from Thong Lo BTS and 5 stations from Asoke BTS Interchange with MRT. Although the area does not have stylish reputation like its adjacent Ekamai and nearby Thong Lo, On Nut does have its authenticity and peace. The area is also packed with local charm, with street food vendors selling a host of delicacies and restaurants flooded with eating options.

On Nut is surrounded by various shopping complex, Supermarkets, restaurants, massage street and a choice of local fresh food markets. Next to On Nut BTS station is Century Mall and Tesco Lotus where home owners can easily get their daily necessity in a walking distance.

Major International schools such as Wells International School, Anglo Singapore International School, Ekkamai International are also within the close distance and offices along the BTS line are what makes On Nut the most convenient and desirable place to live for most expatriates.

On Nut is well connected with every corner of the city via the main Sukhumvit Road, and the three expressways close by. It only takes 30 minutes to go to Suvarnabhumi Airport.
Ladprao - Ramintra + -

Among all 50 districts of Thailand’s capital city, Lad Prao emerged as an area that can meet the strict needs of modern living, thanks to its strategic location and wide range of amenities.
A quick look at Lad Prao shows that the 21 square kilometre district is located near Don Mueang International Airport, the hub for various airlines flying across Southeast Asia. The district is also well-connected to other areas of Bangkok, including the central business district thanks to Phahonyothin Station, which is part of the mass-rapid transit (MRT) system.
Another option is the Lat Prao intersection station, where passengers can board the BTS skytrain to central areas and shopping junctions. Adding to the ease of transport in Lad Prao is the nearby Bangkok Bus Terminal and major expressways.
Besides its prime location, Lad Prao boasts an array of new and long-established shops, as well as modern shopping malls. Main highlight would be the famous Chatuchak Weekend Market. With over 15,000 stalls, it’s possible to spend the entire weekends shopping or wandering around one of the world’s largest weekend markets covering an area of 27 Acres. The other two famous shopping malls are Central Plaza Ladprao and Union Mall, where you can find top fashion brands as well as reasonably-priced fashion items and accessories.

Another big advantage of Lad Prao is the three public parks within walking distance from each other – Wachirabenchatat, Chatuchak, and Queen Sikirit. Altogether, these parks form Bangkok’s biggest public parks, spanning an area of 286 acres.

The city-renowned businesses and enterprises such as PTT Public Company, Siam Cement Group Head Quarter, Thai Airways Head Office, and Shinnawatra Tower III are also in this area.

However, not until recently that the area is going to become ASEAN’s Business Hub with the arrival of Bangsue Grand Station, an upcoming largest railway interchange in South East Asia. The extensive project will be the promise of Bangkok’s transformation as the new high-speed rail hub will help commerce and business to extend outside of Bangkok to the country’s provinces thus facilitating the interconnection of people and trade.

Foreign Buyer’s Guide

Buying Thai Property

Area Guides

Foreign Buyer’s Guide

Buying Thai Property

Area Guides

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