However, let me first explain about the law on companies that have shareholders and/or board of directors that are of foreign citizenship. If the percentage of foreign shareholders exceeds the maximum stated amount, it would immediately be recognized as a foreign company. A (a foreigner holding 49% of shares). This is true for all companies with foreign shareholders or board of directors, regardless of whether they hold up to the maximum 49% of shares or not.e. This is necessary to validate the source of capital that it is not financed by foreigners or nominee shareholders. Therefore, through the second step foreigners will be able to have the ownership of properties under the company name. The first technique is on setting up and registering a company, which currently allows a minimum of 3 shareholders (initially 7 people were needed). This technique could also be applied when the foreigner would like to sell his or her property to another foreigner. Another benefit from this technique is that taxes or any fees in the selling-buying of property could be avoided.

Many times just locating the correct information can be exhausting. We also help clients looking to sell their condos. With apartment buildings, buyers only receive an interest in their separate units and no shared interest in the common area. Currently, we have over 250 active condo and apartment listings with a healthy mix of leasehold and foreign freehold ownership. Apartment owners have no say in the management of the building, property, or common areas. Developers must follow certain procedures and comply with certain regulations in order to obtain a registered condominium license for their development properties. One ownership option is leasehold. Once registered, the lease becomes a lien upon the title deed for the unit. As a legal interest, it also means that an apartment or condominium can be bought, sold, or transferred. 30 leasehold structure. It does require extending the lease at the end of each term and according to the contract.

Some investors prefer purchasing leaseholds due to the tax advantages. Only 49% of the registrable area of a condominium development can be allocated to foreign freehold ownership. This is referred to as the foreign freehold quota. A local property law firm can set this up within a couple of weeks. This is not very common with the purchase of a condominium but for some buyers it makes sense. As long as the foreigner complies with the law, this option offers a good degree of indirect ownership and control. This title shows the ownership of the individual unit. Titles are the most common evidence to prove ownership, rights of possession, and other interests in property. The share of co-ownership of the common property. It’s a fact, condominium act thailand land prices have been rising at an average of 13% per year since 2005. The price of land has been rising due to many reasons.

The new zoning laws also restricted the location and height of apartment and condominium buildings. Investing in a foreign property market can be tricky at times and a local expert can help guide you through the proper steps and ensure a safe and successful transaction. Our professional realtors will discuss your requirements first and then suggest a property that meets your needs from our inventory of apartments and condominiums for sale. We will then arrange property viewing and inspections based on your stated needs and requirements. When it comes to selling your apartment or condominium, we offer some of the lowest commission rates on the island similar to a discount broker. We can assist you at our office or pick you up from your resort or hotel. Our friendly and professional team advises and guides foreigners with reliable and honest communication providing a stress-free but efficient search process. Whether you’re looking to purchase or liquidate a unit, we will work hard to achieve 100% satisfaction.

Is scheduled for completion by 2025. The alternative mode of transportation could face a potential pushback from the local taxi providers as they see it as a threat to their source of income. However, in the long run, improved transportation will ease traffic congestion, reduce the number of private car usage, and enhance the quality of life overall.5 million to 12.5 million passengers annually. Currently, the airport has approximately 95 arrival flights and 99 departure flight per day. Although the airport has seen a steady double-digit year-on-year (y-o-y) growth in the passenger movements prior to 2019, it witnessed a negative growth of 0.6% for the first time since 2005. This has resulted from a drop of 4.7% in domestic passenger movements. Nonetheless, reports indicate that the airport is still operating over capacity, handling over 18 million passengers, causing congestion, delay, and disruptions. A minor increase of 2.5% in international passenger movements. 7% in domestic passenger movements. A minor increase of 2.5% in international passenger movements.5% in international passenger movements.

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