Can foreigners indpendently own property in Thailand? I've heard that you must have a Thai partner.
Living in Asia on $2500.00USD Per Month
- Thread starter Quarrior
- Start date
Please register or login
Welcome to ScubaBoard, the world's largest scuba diving community. Registration is not required to read the forums, but we encourage you to join. Joining has its benefits and enables you to participate in the discussions.
Benefits of registering include
- Ability to post and comment on topics and discussions.
- A Free photo gallery to share your dive photos with the world.
- You can make this box go away
jiveturkey:
In the Philippines,a foreigner can own 1 house lot and 1 car. Thats what it was before but nobody really checks.
Really? How bout business stuff?partridge:
Could i come into PI and set up a business or do you need over 50% local partner?
That's why I made the original post.TCP:Just remember to research, research and research. then do some research!
I figured if I started here where everyone has the same adiction I do, it would be the best place to start.
Unfortunately I don't have a target date right now for a trip over or the move, but I'm hoping it will be within the next year.
Mike Veitch:
Mike - If I am not mistaken, a foreigner should not own more than 41% of the total equity here in the Philippines.
Quarrior - To give you an idea, here in the Philippines the types of people who earn US$2,500 a month would be a senior manager who works in a multinational company. If you are single, you could afford to buy a condominium unit on one of the high end places on business districts on installment and still have cash for a car and diving.
If you decide to live on the beach (puerto galera, boracay) you will probably just need 1/4 of that amount.
Quarrior:
Quarrior,
Angeles City is up north while Puerto Galera is down south. Living in Metro Manila (Makati) puts you exactly between the 2 areas (about 3 hours). Living in Metro Manila is quadruple the cost of living either in Puerto Galera or Angeles City.
buksida
Contributor
jiveturkey:
No, foreigners can only own condominiums but not buildings or land.
Two ways of doing it are starting a 49:51 (foreign:thai) limited company or putting it in a Thai nationals name.
Mike Veitch:
This caused one big stink before. We were losing foreign investments because of it. Multinationals started leaving too for other reasons. They were supposed to change that law. But that was the last president. God knows if we got it done or not.
My dad has a local partner for our business. That would be my mom. I too have a local partner. That would be my wife. I can apply for dual citizenship though but the "procedures" have not been forwarded to our offices here.
2500 USD a month is a lot. A lot of foreigners retire here with less than that.
Skyjunky
Contributor
That's more than the average annual income for most people in those countries.
Similar threads
