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Hi, I hold UK passport and am on a retirement Non O visa with yearly extensions already done twice. I would like to buy a condominium and wonder if I could be the sole owner based on this visa status. Also, are there any restrictions to foreigners buying condominium which do not apply to Thai citizens?

I will pay the condo in full amount and so there is no problem with mortgage. I believe that my name will be on the title deed of the condo. Your expert opinion and advice would be appreciated. Thank you

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8 minutes ago, JOHN CHAN said:

Also, are there any restrictions to foreigners buying condominium which do not apply to Thai citizens?

Yes  (mostly) only 49 % of the  condo units in a building can belong to foreigners  but if you buy within that 49% you will get a proper Chanote title deed and fully own your condo...don't fall for the company

scam  errm workaround.

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Posted (edited)

you need to transfer foreign money to Thailand and the proof/form, from a local bank to register under your name at the land office (besides the 49% quota)

 

But if one has cash only and or black money you can get this form under the table via bank or money changer against a fee

Edited by MrJ

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And if you want the condo in your name you have to show that the money come from outside Thailand with a FET (Foreign Exchange Transaction Form).

The rest as the posters up already have sad.. you should be in the 49% of foreign can buy (In Bangkok almost never a problem... in Pattaya on the other side more difficult and they have different prices for Foreigner and Thai... In Bangkok mostly the prices are same.

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Thanks for everybody's ideas. I have a question: 49% of the units of the condominium-does this mean that if there are 100 units in the whole condo block, foreigners can own up to a maximum of 49 units. I am just curious as I intend to buy ONE unit for myself and I believe I own 100% of the condo.

Also, I have enough Thai baht in my Thai bank account; I do not need to transfer money from outside. But I cannot prove the source of the money. Can I still register my name with the Lands Department? If that is a hurdle, I will consider registering the condo using a Thai nominee under a contract with me. Thanks.

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8 minutes ago, JOHN CHAN said:

I will consider registering the condo using a Thai nominee under a contract with me. Thanks.

Umm...think carefully. You could accidently fall from your condo balcony and void the contract.

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1 minute ago, The Fat Controller said:

You cannot buy with funds already here, the transfer has to be proven to come from outside Thailand with a statement on the FET form "Reason for transfer, condominium purchase"

 

True. One of my friends recently had to 'round trip' almost 15m baht and lose a big amount in the process. He has been working here for over 20 years, earning and paying huge taxes. He still had to send his "tax paid" Thai Baht to his country and get it back same week to buy the condo.

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Posted (edited)

don't buy anything in Thailand could be confiscated any time. Just ask the farmers in Isan.

You don't  have to right to anything even if you paid for it. Can be seized any time. don't let anyone tell you otherwise. Many thousands of foreigners has lost everything. Foreigners have no rights in this country.

Edited by uffe123
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Posted (edited)
35 minutes ago, uffe123 said:

don't buy anything in Thailand could be confiscated any time. Just ask the farmers in Isan.

You don't  have to right to anything even if you paid for it. Can be seized any time. don't let anyone tell you otherwise. Many thousands of foreigners has lost everything. Foreigners have no rights in this country.

Perhaps you can give more information on foreigners who have lost legally owned foreign title condos ??????

Any land confiscated is usually because it was illegally acquired in the first place.

If indeed "1,000s" of foreigners have lost everything its because they tried to buy land they were not able to own etc.

Happy to be shown one case of a foreigner having legally acquired property, that a foreigner can own, confiscated.

Even Thai farmers in issan have not had legally owned land confiscated. It is usually when a "possession for farming" title is abused and the people try to sell, rent or develop land that is not theirs to sell.

Edited by Peterw42
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14 hours ago, JOHN CHAN said:

Thanks for everybody's ideas. I have a question: 49% of the units of the condominium-does this mean that if there are 100 units in the whole condo block, foreigners can own up to a maximum of 49 units. I am just curious as I intend to buy ONE unit for myself and I believe I own 100% of the condo.

Also, I have enough Thai baht in my Thai bank account; I do not need to transfer money from outside. But I cannot prove the source of the money. Can I still register my name with the Lands Department? If that is a hurdle, I will consider registering the condo using a Thai nominee under a contract with me. Thanks.

Yes you are right.

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41 minutes ago, uffe123 said:

don't buy anything in Thailand could be confiscated any time. Just ask the farmers in Isan.

You don't  have to right to anything even if you paid for it. Can be seized any time. don't let anyone tell you otherwise. Many thousands of foreigners has lost everything. Foreigners have no rights in this country.

Think you are talking about husbands buying or building house on wifes familys ground etc etc. This is not the case here

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15 hours ago, JOHN CHAN said:

But I cannot prove the source of the money.

You have to provide the form "Tor Tor 3" (FET) over the whole sum for the condo. More is ok ;-)

All paperwork will be checked at the landoffice and there is only one language accepted .. Thai !

All your documents have to be in Thai language.

At the end you will get a Chanood and the blue housebook in your (Thai translated) Name.

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BANGKOK 22 August 2018 03:19
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