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Thai quote on real-estate purchases

Many buyers refrain from purchasing an apartment from Thai quote. Nevertheless such a purchase is as a rule very advantageous.

Each condominium offers apartments from Thai and foreigner quotas.

Foreign citizens are allowed to acquire not more than 49% of the residential space. The rest 51% can only be sold to Thai citizens or Thai companies registered in the Kingdom.

The same principle govern the sales of land, houses and townhouses with adjoining pieces of land. Any property that touches the ground can only purchased by a foreigner if it is done through a firm registered in Thailand.

According to Thai legislation, a foreign citizen is only allowed to purchase a condo apartment from the foreigner quota in his or her name. It is mandatory that the money spent on the apartment purchase were transferred to Thailand from abroad.

Please notice that a purchase under the name of a Thai company also entails a form of ownership. In case of the foreigner quota, a private person will be an apartment owner, while in the case of the Thai quota, it will be a legal body, namely a Thai company. When handled correctly, the company will be under complete control of the foreigner who founded it.

In order to purchase a property, one has to register a legal body with 51% of funds in possession of Thai citizens and 49% of funds in possession of the foreign citizen who is going to buy the property. It can be easily arranged that the Thai holders are only nominal, while the company is under control of the foreign founder. One should not worry about the legal side. The entire procedure has been established by professional lawyers down to every detail.

At first the apartment bought for the Thai quota is registered under the name of the actual buyer. Right before the construction completion a legal body is being founded, which becomes an owner of the apartment in the future.

Thai law states that an apartment bought from the Thai quote cannot be taken away from the owner. Therefore you will be the one and only rightful owner.

The question necessarily arises why to go through all the hustle of buying an apartment from the Thai quote. Is it perhaps easier to purchase from the foreigner quote?

The purchase from the Thai quote has many advantages. First of all, in the majority of cases the prices are much lower. The difference may equal 25%! But if when the prices are the same, the developer may offer a more beneficial payment plan for the apartments from the Thai quote. Second, one can buy as many apartment under the name of a Thai firm as one wishes. This is the reason why investors prefer this option. Third, you do not have to announce that you have acquired a property in Thailand, since the ownership certificate lists an unknown Thai company. And the last but not the least, the buyer does not have to prove that the money came from abroad. Hence you can pay the purchase by the means of your liking.

The registration of a Thai company costs about 30,000 baht. Moreover you will have to pay juridical services for running the company that will cost about the half of the sum above annually.

If you decide to re-sell the apartment bought from the Thai quote, it will not give rise to any complications. But we recommend to sell it together with the company that owns the property. In this case you only need to introduce changes in the list of the company holders by writing in the name of the new owner. This step completes the purchase.

Some think that apartments from the Thai quote have lower liquidity. Indeed, sometimes these apartments are more difficult to resell, especially if you set up a price much higher than proposed by the developer. This, however, does not apply to condo apartments, which, disregarding the quote, are always in demand. If you plan to live in the apartment yourself or rent it, a property from the Thai quote represents the most beneficial and correct decision!

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