And also, can a Thai co-own a condo. with a foreigner? What are the implications?
Number One - on the Body Corporate Thais, by Law, have to have 51% of the vote.
That's probably not a major problem, in most cases.
Number Two - a far bigger problem, in many cases - is that if you are refused a visa to Thailand, obviously you can do NOTHING with your condo. You can not live in it, you can not sell it. Your "wife" has it !! This is an obvious loophole, which many Thai women exploit.
They simply launch a lawsuit against their farang condo owner - alleged domestic violence, anything they concoct - and hey presto : they've effectively got that condo.
- It is in Soi Peter (5/2) - Mission Roman
- Near BKK and the good atmosphere /
- Selling @ 750,000 B.
- For more details, pls. contact me @ 09-
2068186 or 02 - 6390189 (Mon - Sun / 9.00
am. - 9.00 pm.)
At the same time, Thai financial institutions are not allowed to lend to foreigners to finance purchase of real estate - I thus doubt the statement that by a farang that he has obtained finance in his own name.
Some Thai banks offer financing through their off-shore (i.e., Singaporean) branches. So, the loan is taken off-shore and the money certified by BoT as being "imported".
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