Corporate ownership is another way for foreigners to acquire property in Pattaya. Via establishing private limited companies, Thailand becomes lenient towards permitting aliens to own land in the country. Nevertheless, forming business organizations alone is not enough to enjoy such a privilege. One should see to it that 51% of the shareholders are Thai. Aside from the legal requirements, there is another aspect that foreign investors must consider prior to building companies and obtaining land in the country. This is tax planning.
A private limited company wherein 49% of the shares are owned by a foreigner entitles the latter to purchase properties in Samui. This privilege explains the growth of business organizations with foreign owners. However, many misunderstood that such privilege still applies to the beneficiaries of the Treaty of Amity. More often than not, such situation creates conflicts and problems, most especially to those who are unfamiliar with the said treaty.
Samui’s property industry is an emerging market in Thailand. Slowly but surely, the prices of Samui real estate is catching up with other regions in the country. This is, of course, a good sign. It suggests that more and more consumers and investors are taking a high interest in Samui’s potential to generate a sound return of investment and profits. It is also important to note that the region has managed to survive the devastating effects of the global economic crisis. Compared to other areas that were heavily affected by the economic meltdown, real estate development in Samui smoothly continued. Many projects were successfully completed.
If you are looking at buying property in Samui and need a real estate lawyer, please contact us. With offices in all the major cities of Thailand, we are best able to serve your needs and offer you cost-effective legal solutions.
Offices located in Thailand
Very few people would need to register a servitude in Thailand unless you are living in Isaan or own another form of property such farmland where there might be a need to a servitude. If you are considering buying a property or any real estate let your lawyer check for servitudes over your property.
Inheriting a condo in Thailand is not as straightforward as it would be in the West. In order to take ownership of the condo, you still fall within the same rules as the person who died and left you the condo in the first place. Seek the assistance from a lawyer in Samui if you do inherit any real estate in Thailand.
Most people have never heard of the term before yet many only discover its uses after a divorce or a relationship that has gone sour. The usufruct in Thailand is there to offer you protection. It is also there when leasing property. If you are buying property ensure there is no usufruct attached to the property.
Many buyers wonder what taxes need to be paid when buying a condominium in Thailand. The tax system is easy to understand and we have broken it down in an easy example to show how it works. Speak to a real estate lawyer in Samui for more advice and guidance. Call us today on our Toll-Free numbers!