Q: Is language a problem?
Although Thai is the official language, English is widely spoken and understood.
Q: Do you require a Visa to visit Thailand?
Typically Canadian and American tourists do not require a visa for stays up to 30 days. During this COVID period, Canadians and Americans are required to obtain a Certificate of Entry (COE). This situation, however, is subject to change in the coming months.
Q: What is the maximum length of time you can stay in Thailand?
Currently, there are various options available ranging from 30 days to 1 year. As this situation is continuing to evolve, at the time of your request, we will need to verify the up-to-date situation with the Royal Thai Embassy.
Q; Do you need a work or business permit to buy real estate in Thailand?
,To purchase a condo, a work or business permit is not required.
Q: Can a foreigner own 100% of a condo or apartment?
Yes, if the condo is located in a building in which 51% is owned by Thai nationals. The building also needs to be governed by the Condominium Act.
Q: Are Foreigners allowed to own land in Thailand?
Thai laws prohibit foreigners from owning land in their own name, however, there are options available to foreigners. The most common is to set up your own Thai Limited Company to own the land on your behalf. The other option is to enter into a long-term leasehold with the Landowner. Although a foreigner cannot own land in Thailand, he/she can own the house or structure built on the land. One only has to apply for a construction permit to build the house in his/her own name.
Q: What type of real estate options are available through your company ELL?
We offer wide range of properties – our portfolio includes completed and pre-construction villas, condominiums, townhouses, and apart-hotels, many of them are managed by international hotel chains. We will be able to select the right option based on your needs, goals and budget.
Q; What is the benefit of buying a Condo?
Q: What does it cost to purchase a property in Thailand?
The transaction costs are usually between 3-5% of the total property cost that include transfer fees and duties, lawyer fees and other disbursements.
Q: Can foreigners get a mortgage in Thailand?
No. The funds for the purchase must come from outside of Thailand in the original currency. Without proof of this, a foreigner cannot register the condo in their name. The total amount of money transferred must not be less than the price of the condo unit.
Q: Do I need to pay property tax on my holiday home in Thailand?
Depending on the type of the property and your residency status, you might be required to pay annual property tax.
Q: Is there a tax treaty between Canada and the country?
Yes, Canada has concluded double-taxation agreements (DTAs) with Thailand. Relief for foreign taxes in the Canadian system is accomplished through a tax credit and deduction mechanism.
Q: Do I need a will in Thailand?
If you have Thai assets, especially something of value like real estate, then we would highly recommend that you do have a Thai will in place. The cost to prepare a will is relatively inexpensive, so it makes no sense not to have one. Your small investment in terms of cost and time can prevent lots of headaches later should you pass away.
Contact us now and our ELL experts will be in touch with you to make your search as easy and efficient as possible with our one-stop service.
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