Buyer's Guide

Foreign ownership of Condominium Property according to Thai Law, foreigners may own 49 percent of aggregate saleable unit space of a condominium building while the remaining 51 percent must be owned by either Thai nationals or majority owned Thai companies.

 

The Sales Process: Pre-completion payment (30%)

  1. Reservation: Make a deposit of THB 25,000 for all units for sale which is completely recoverable by deduction from the contractual payment.
  2. Signing: The Sales and Purchase Agreement is to be signed within a short period following the reservation. A 30 percent payment of the unit is required upon the signing of the agreement

Balance on transfer remaining (70%) Money Transfer: There are 3 options to transfer money

  1. Set up local bank account in Thailand in the name of purchaser and forward funds into the account.
  2. Transfer funds to Company account and Acqua company shall organize all appropriate paperwork/certificate.
  3. In the case the property is purchasedvia a Thai company, transfers can be made directly to the company bank account.

Payment Procedure

Foreigners are requiredto remit at least USD 20,000.00 into Thailand per transfer to receive a FOREX Transfer Form. This form will be needed to transfer the unit under foreign ownership and also remit money back out of Thailand if so needed in the future.

 

Note: Conversion to Thai Baht has to be done inThailand and notbefore transfer is made into the country. Furthermore, instruction on transfer must state for the purchase of property.

 

Additional Expenses

  1. Transfer feed
  2. Sinking Fund- This payment is THB 500 per sq.m. and is payable upon transfer of title deed.
  3. Advanced Juristic Fees- Paid in advance on 40 THB persquare meter per month basis.

Note: The Juristic Fee or management/maintenance fee is used for general monthly maintenance of the building, common areas, security, pool maintenance, etc.

 

More Information: Disclaimer information provided should be usedas a guideline only. We suggest that you refer to our professional sales team at 038 231 125-6 and a legal advisor before buying a property in Thailand.