Thai/Foreigner couple buying Property in The kingdom of Thailand!
More and more Thai People are living abroad and many of them have a partner from the country they live and work in. Now they are on the way back, at least for holidays.
Hua Hin Property 94 is specialised and have broad knowledge about all situations concerning purchasing land, house and condos as a multinational couple. That’s why so many couples choose Hua Hin Property 94 as there Real estate partner. Ask us for reference customers.
How to buy!
Condos. If the ownership quota is not over 49% in the condominium a foreigner can buy freehold in their name, there is also a possibility for a Thai and foreigner to share a condo ownership 50/50% with both names on the title deed. The part of the money that the foreigner will spend on his part or in full must come from abroad and be certified with a foreign exchange certificate.
House and Land. A foreigner can buy a house structure in their name but not be the owner of land in Thailand. There is 2 options to hold land one is lease 30+years and one is thru a Thai Co LTD were the foreigner is the owner of 49% of the shares and controls it all buy being the director of the company. If a couple is new in there relationship or if they are not legal married we recommend to either take over an existing Thai Co Ltd or let the Thai partner buy the land in their name and then make a lease on the land with or without the house.
If the Couple is legally married we recommend to let the Thai be the owner of the land and the foreigner signs the title deed with a so called Usufruct. That is a good way for both partners to protect their investment in a shared property. If the Thai partner want to sell the land or make a mortgage it can only be done with both signing.
Some foreigners that have children with double nationality ask us if they can put there under-aged child as a owner of the land. It is possible but can be a big problem in the future as their Thai parent needs to sign for the common under-aged Child before they turn eighteen and if the relationship in this time is very cold this can become a very big problem.
It is very different to buy a property here in Thailand but it’s not difficult ore dangerous if you do it the right way.
If you have any question please don’t hesitate to ask for our help. We have seen many tragic cases happen, much because the foreigner (but also the Thai partner) has not listen to professional advice but used so called bar stool lawyers as there adviser. If you like this article please share it with someone.