Friday, September 5, 2008

Owning Property in Pattaya city.

As matter of Thai Law ,foreigners are prohibited from owning land in Thailand.This includes foreign-owned companies,although,in theory,a company with a simple majority Thai ownership(i'e 51% Thai)can do so.However,in practice,to get through the necessary should be 60 to 70 % Thai owned.There is now a conditional and limited exception to this for holders of a Thailand Elite Membership Card.
In simple terms,it is permissible for foreign nationals to lease land in Thailand for up to 30 years and such a lease can be renewed for a similar period upon expiration of the initial term.However,such a lease must be registered with the land department.If it is not,it will only be valid for three years,regardless of the term.
Subject to certain conditions,foreign nationals are entitled to own individual condominium units in Thailand outright.

By the way PATTAYAORGANIZATION AND MANAGEMENT can solve this all problems for all you are,let me to manage for you.

Sincerely yours,

Mr.Sukij Boonplok