1)What is the difference between Thai company and Foreign ownership?
There are two possible ownerships in Thailand:
1)Foreign name which is like owning property in your own country
2) Thai company which will own the property. In Thai company you will hold 49% of the shares, your lawyer will introduce to you 2 silent Thai
Partner who will own the remaining 51% and who would have signed the sale of their shares in blank.
- There are no taxes what so ever on Thai companies owning property but you will have to have annual balance sheets which cost about 500$
- The price of condos under Thai compnay name are often somewhere between 10 to 20% cheaper than the same condo under the foreigner name.
- The set up cost of Thai company varies on the capital subject to the price of property you purchase.
- And that in the eventuality that you wish to sell the property, transfer cost is around 800$ in Thai company ownership subject again to capital but with foreign ownership it’s around 7% of the sales price .
- The disadvantages is that you are hold a minority in a company that owns your property.
- As land can only be owned by Thai nationals or Thai company, a Villa could only be purchased through a Thai company.
In a simple term:
so lets answer this question :
CAN A FORIEGNER OWN 100 % OF A CONDO IN THAILNAD? ANSWER: YES