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Can I Buy a Condo in Thailand with a Non-Immigrant Visa?

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Are you considering buying a condo in Thailand but unsure about the visa requirements? You’re not alone. Many expats face this dilemma, especially when it comes to understanding the differences between various types of visas and their implications on property ownership. For instance, imagine being excited about purchasing your dream condo, only to find out that your current visa doesn’t allow you to own property in your name. Or, picture this: you’ve finally found the perfect condo, but you’re not sure if your visa will permit you to make the purchase. In this post, we’ll break down the visa requirements for buying a condo in Thailand, so you can make an informed decision.

If you’re considering buying a condo in Thailand, you’re probably wondering what type of visa you need to make the purchase. The good news is that you can buy a condo with any type of visa, but there are some important things to keep in mind.

First, it’s essential to understand that the type of visa you have will not affect your ability to buy a condo in Thailand. However, it’s crucial to note that you can only own a condo in your name if the building is at least 51% owned by Thais. This means that if the building is more than 49% owned by foreigners, you may not be able to buy a condo in your name.

To buy a condo in Thailand, you’ll need to provide the following documents:

  • A valid passport
  • A copy of your visa
  • Proof of income (e.g., a letter from your employer or a bank statement)
  • A copy of the condo’s title deed
  • A copy of the condo’s registration certificate

Once you’ve gathered all the necessary documents, you can proceed with the purchase. Here’s a step-by-step guide to help you through the process:

  1. Find a reputable real estate agent: Look for an agent who is knowledgeable about the local market and has experience working with expats. They can help you find the perfect condo and guide you through the buying process.
  2. Choose a condo that meets your needs: Consider factors such as location, size, and amenities. Make sure the condo is in a building that is at least 51% owned by Thais.
  3. Check the condo’s title deed: Verify that the condo’s title deed is up to date and that there are no outstanding debts or liens on the property.
  4. Review the condo’s registration certificate: Ensure that the condo is registered with the relevant authorities and that all necessary permits have been obtained.
  5. Negotiate the price: Work with your real estate agent to negotiate a fair price for the condo.
  6. Sign the sales agreement: Once you’ve agreed on the price, sign a sales agreement that outlines the terms of the sale.
  7. Transfer the ownership: Once the sale is complete, transfer the ownership of the condo to your name.

It’s also important to note that you can own a house in Thailand, but not the land. To own a house, you’ll need to lease the land for a period of up to 30 years. You can also set up a Thai majority company to purchase property, but this requires Thai shareholders and a director, and you’ll need to register with the Tax and Revenue Department.

In conclusion, buying a condo in Thailand can be a straightforward process if you have the right information. By understanding the visa requirements and following the steps outlined above, you can find your dream condo and make it your home in Thailand.

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