In Thailand, there is a significant difference between buying a property in the name of a foreigner and purchasing it under a Thai company.
Foreigners are restricted from owning land in Thailand, but they can own a building or a condominium unit. Therefore, if a foreigner wishes to purchase a house in Thailand, they will have to do so under the name of a Thai national. However, this can be a risky proposition because the Thai national who legally owns the property can sell it without the foreigner’s permission.
On the other hand, purchasing a property under a Thai company is a popular option for foreign investors. The process involves setting up a Thai company with the foreigner as the majority shareholder. The company can then purchase the property, and the foreigner can own the majority of the shares. In this scenario, the foreigner has more control over the property and can protect their investment better.
Moreover, buying a property under a Thai company can also provide tax benefits to the foreigner. The company can offset some of its expenses, including the cost of the property, against its income, which can reduce its tax liability.
However, setting up a Thai company can be a complicated process and requires the assistance of a lawyer or a consultant. It also involves ongoing costs, such as yearly tax filings and company registration fees.
In conclusion, buying a property in Thailand under a Thai company can be a more secure and financially advantageous option for foreigners than purchasing it under the name of a Thai national. However, the process can be more complex and involve ongoing costs. It is essential to seek professional advice before making a decision.
As “Top Thai Real Estate,” we understand the complexities involved in purchasing property in Thailand and the importance of having sound legal advice throughout the process. That is why we are proud to offer all our clients full legal services under our subsidiary company, “Pattaya Legal Consultants.”
“Pattaya Legal Consultants” is a well-established legal firm that has been in operation for over 18 years. Our team of experienced lawyers and consultants specializes in real estate transactions and is dedicated to providing our clients with expert legal advice and guidance.
Our legal services include assisting with property due diligence, drafting and reviewing contracts, registering property ownership, and providing ongoing legal support. We work closely with our clients to ensure that they understand every step of the process and that their interests are protected.
By providing comprehensive legal services under our subsidiary company, “Pattaya Legal Consultants,” we can offer our clients a streamlined and stress-free experience when purchasing property in Thailand. Our goal is to make the process as smooth and efficient as possible while ensuring that our clients receive the best legal advice and support.
In conclusion, as “Top Thai Real Estate,” we are committed to providing our clients with a full range of services to make their property purchase in Thailand a success. Our legal services under “Pattaya Legal Consultants” are an essential part of our commitment to our clients, and we are confident that our clients will benefit from the expertise and experience of our legal team.
