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get real... invest in Thailand

Welcome to smartfarang.com. We are an important source of news for Pattaya, Thailand. We specialise in information targeted to foreigners considering a medium-term to long-term stay in Pattaya, Thailand. 'Farang' is a Thai term that means white-skinned foreigner. Thai preople are bemused at the behaviour of Farangs in their Country, and generally consider Farangs to be stupid. Our aim is to make you a Smart Farang.

real estate investment

condos yes, houses and land no

In general, foreigners are permitted to purchase real-estate in Thailand, but not land. Foreigners may purchase apartments as long as they are not on the ground floor (i.e. sitting on land). Foreigners are not allowed to own a house, for the same reason. However, there are some exceptions:

the 49% rule

Condominium projects cannot exceed 49% foreign ownership. General practice is to limit purchases by foreigners to less than 49% of the total number of units. Subsequently, this 49% is maintained as an absolute maximum during resales. It is possible to puchase units outside the 49% foreign owner quota, i.e. a unit included in the 51% Thai owner quota, but it will be necessary to purchase in a Thai person's name. Some foreigners purchase in a girlfriends name, or some person of less than perfect integrity. Stories abound of foreigners finding their home sold without their permission. If the Thai ownrship route is followed, it is recommeded that a reputable Thai attorney is engaged to setup a Thai Company which is under your control. This Thai company can legally own condos in the Thai quota, also houses and land. However, be aware that there are setup fees involved, together with recurring fees due to company filings and minimum company taxes to be paid. Further, units purchased through a Thai company generally have lower resale value than units purchased in a foreigner's name since such units can only be sold to a Thai person, or another foreigner who is willing to assume company ownership.

Recent projects as as follows:

• ocean 1 tower
• view talay