Having attended both of the recent property and investment shows in the UK over the last few weeks we are please to say that they have both been a resounding success. read on..
Lake Villas Now fully open and available for Holiday lets, Medium Term Lets and Long Term Rentals, a great selection of Studio Apartments and 2 Bedroom Villas at very resonable rates!!
Studios and Villas also available for sale in very limited numbers, please contact us for full details.more..
• How can I, as foreigner, become a property owner in Thailand?^Top Page ^
Under the current laws of Thailand, foreign ownership of land is restricted. The Land Code of Thailand generally prohibits the ownership of land by foreigners within the Kingdom; this applies to both individuals and legal entities. However, there are different ownership structures which allow a foreigner to acquire real estate in Thailand.
In the past, foreigners have often established a Thai company to purchase freehold land ownership. This is still a method often used by other project developers. To be considered as a Thai company, at least 61% of the shares needs to be in the hands of Thai people. However, the Thai authorities are currently closely scrutinizing every land transaction involving a company to ensure that the company is truly a legitimate Thai company (Thai shareholders must actually invest monies into the Thai company and this could be investigated by the authorities through their income tax returns, etc.).
Leasing is a popular and straightforward option to acquire property. The maximum duration of a lease permitted under Thai law for non-commercial use is 30 years, renewable for two additional terms of 30 years if contractually agreed.
To ensure the lease will be renewed after 30 years, we provide the following structure, which give additional protection to an ordinary lease contract i.e. we offer the property with a leasehold structure in combination with a subscription to a certain number of shares in the Thai company owning the land on which the property is built and which leases the land to the different owners of the property. This structure make it more secure for the lessees of the land, because they are also indirectly the 'joint-landlords'. As the land owning company as less or is jointly controlled by the owners, there is the added protection that a lease will be renewed.
• Which fees, taxes and costs are applicable to the purchase of a property?^Top Page ^
Government Transfer Fee : 2% of the appraised value of the property. Leasehold registration Fee: the lease registration fee is equivalent to 1.1% of the total lease cost.
Specific business tax :
shall be collected from the sale of real estate for trade or profit purposes at the rate of 3.3% of the appraised value or the actual purchase price, whichever is the highest. However, this may or may not payable depending on certain issues. If an individual buys or sells property within the first five years, it is normally subject to this tax. There is one exception: if the property is your principle place of residence and you have been on this property's household registration for at least one year. If the property has been held for more than five years, you do not have to pay this tax.
Withholding tax :
a tax payable by the seller of a real estate to the Land Department at the time of sale.
If you don't like cold winters, Thailand is a viable option for seniors with a bit of adventure in their blood. Thailand has special regulations for senior. If you're over 50 years of age, you can apply for a long term visa in Thailand. There are some conditions you have to comply with, e.g. you are not allowed to work and you may not have a criminal record. Also, one of the important conditions is that you need to have 800,000 THB in a Thai bank account.
• What is the standard of hospitals and medical care ?^Top Page ^
Thailand has world-class hospitals in such as Bumrungrad, Bangkok Hospital and many others. They are staffed with English speaking doctors, nurses and technicians. The costs of treatment are very competitive and many foreigners now fly in to Thailand for procedures from all over the region.
• What are the tax levels in Thailand ?^Top Page ^
Please check the web-site of the Revenue Department of Thailand for the current rated (http://www.thaivisa.com)
• What are the immigration and visa restrictions ?^Top Page ^
Temporary visiting visas of 30 days are granted to most nationalities on arrival in Thailand. Foreigners can also apply for a 1 year multi-entry non-immigrant visa. On completion of three consecutive years of www.thaivisa.com status foreigners can be eligible to apply for permanent residence.
Yes, Thailand has a sophisticated vehicle sale, leasing and servicing industry. You can buy a new or used car or motorbike and own it in your own name, There is a competitive rentals and new car sales market. A buoyant second hand market also provides cost effective option.
You can also obtain a Thai driving licence for around £4 although your foreign licence will work fine in Thailand. Vehicle insurance is priced very low. They insure the vehicle not the driver, the car is insured regardless of who is driving.
Residents can apply for a work visa and there are many agencies and law firm that specialize in assisting foreigners in this process.
• How do I apply for a driving license ? ^Top Page ^
Foreigners with residence visas can apply for local Thai driving licenses at the local office of the ministry of transport. A full overseas driving license, identification and a small fee are required. There are agencies and law firms providing this service
Thailand has a large number of International schools. The educational standards are high with English speaking educational staff. The educational standards are accepted by universities around the world.
Website hosted and managed by elipse design studio in pattaya thailand, quality webhosting for good prices, personal service that is outstanding and top quality and value for money web hosting
