DO OUTRIGHT FREEHOLD BUYERS NEED A THAI BANK ACCOUNT?
Yes, you will need to open a Thai bank account. Absolute representatives are happy to assist you with this, and please note that you must be in Thailand to open an account.
WHAT IS THE PAYMENT STRUCTURE?
We require a refundable reservation fee, and offer a range of payment options.
ARE PROPERTIES THROUGH ABSOLUTE REAL ESTATE FREEHOLD?
Not for foreign buyers. Property ownership in Thailand has a specific set of rules for foreign purchasers.
WILL ALL REAL ESTATE DOCUMENTS BE IN ENGLISH?
IN WHAT OTHER LANGUAGES WILL REAL ESTATE DOCUMENTS BE AVAILABLE?
In Russian, Thai and Chinese.
CAN FOREIGNERS OWN PROPERTY IN THAILAND?
Many foreigners want to buy property in Thailand, whether or not they live in the country. Overseas buyers can purchase a house or villa in their own name, but cannot purchase the land upon which the house is situated. Foreigners can enter into a sale and purchase agreement for the house and a separate lease for the land. Alternatively, a Thai Limited Company can buy both the land and the house. There is no Thai law preventing a foreigner from selling a property and remitting the sale proceeds back to their home country.
The usual transfer fees and stamp duties will apply but note that there is no capital gains tax in Thailand. Similarly, if the foreigner sells their shares in a Thai Limited Company, the sale proceeds can be remitted abroad. There are no
fines or taxes applied to such remittances although the Bank of Thailand may ask you to produce paperwork such as a sale contract to demonstrate the origin of the money in order to comply with money laundering laws.
CAN I INSTRUCT MY OWN LAWYER?
ARE THERE ANY LEGAL SAFEGUARDS FOR FOREIGN INVESTORS?
There are no legal restrictions or mandatory rules on this issue.
WHY ARE PROPERTIES PURCHASED IN THAILAND LEASEHOLD RATHER THAN FREEHOLD?
The property is leasehold only for the reasons above, namely because of the restrictions on foreigners owning real estate within Thailand, except in five special sets of circumstances.