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BANGKOK 13 December 2018 22:38
stiggy23

Change from Thai owner to Foreign Quota

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Dear all, I am looking to buy a condo (100% foreign) in central pattaya. Currently, it is owned by a Thai but the agent told me with a small fee can be changed to Foreign quota. I have been trying to find if this is possible on previous forums but couldnt find any such posts. 

Please can someone suggest. I understand the limits for condos in a given building is 51% (thai owned) and 49% (foreign). But if currently the building was occupied such that it was 52% thai owned and 48% thai owned, can such transfer from thai to forgeign be possible? I am a bit confused. Given the unregulated nature of property agents, i am not sure if i believe her.

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 It is  possible to change your intended purchase(condo) from Thai ownership  to foreign

ownership

Of course this can only happen if there is sufficient  space in the foreign allocation.

Which  means that when your transfer goes thru -then the 49 % foreign allocation has  not  been breached.

The Juristic Person Manager who works in the building of your interest will advise you.

 

As far as cost is concerned -there are transaction costs involved in the process-always.

I cannot see that these  are increased as a  consequence of your plan.

 

 

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The only fees payable are the standard transfer fees at the land office. If there is sufficient  Foriegn quota available fees are the same.  Sounds to me a bribe is being asked for the JP to provide a fraudulent document for the land office or money to set up a company so can be purchased that way.  Be careful 49% means 49%

 

Edited by baansgr

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Might be a chance at Center Condo in Pattaya, since they were allowed to go over the foreign quota during the 1997 Asian Economic crisis but I have real doubts if there are any quotas available

 

And before you invest you had better check with the Land Office and not with any agent or juristic person 

 

As, baansgrsays, sounds dodgy to me 

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