An investor should make the most out of his investment, whatever it may be and wherever it may be. In some cases, investments made abroad can have better returns than ones made in your one’s home country for various reasons.
Of course, any savvy investor will know that putting money into real estate property is one of the sure-fire ways of safeguarding one’s money. However, that also means one has to look into potential avenues of investment first before wagering on real estate. The same holds true when acquiring such properties in the Kingdom of Thailand.
If you’re a businessman looking to do exactly that same thing in Thailand, bear in mind the following tidbits of information about investing in real estate in the Kingdom.
No Foreign Individual Can Purchase Real Estate
One of the facts about investing in Thai real estate is that you, as a foreign individual, cannot easily purchase land in the Kingdom except for some special cases.
One of these cases is when you inject a significant amount of investment into the Thai economy. This happens when you start a joint venture with other foreign expats as well as some local Thai businessmen. In this case, you can then purchase real estate under the name of that company, but not under your own name.
Another case is when you get married to a local Thai, after which you can then acquire real estate under the name of your spouse. There’s some risk involved here, of course, but we all know love conquers all. Getting married in Thailand makes you subject to some traditions, like the dowry. You could also encounter some legal concerns like a prenuptial agreement.
Finally, you might want to think about becoming a permanent resident in Thailand. This is very advantageous for foreign expatriates who want to retire in Thailand. This step will eliminate the need to get a new visa every time you want to enter Thailand after exiting the country due to immigration regulations. Even multiple-entry visas expire, after all.
As a permanent resident, you can have rights that turn you into a de facto citizen of the Kingdom. You can purchase real estate under your name, for instance. You can start a business as a local, not as a foreigner, among others.
Take note that not everyone can become a permanent resident of the Kingdom. The offer is only available for a number of select individuals every year. Check out what it takes to become a permanent resident here.
You’d Need the Help of a Property Manager
Finally, if you’re looking to build a portfolio in Thailand, you’d certainly need the help of a legal advisor who can also double as a property manager. This manager is an expert who can help you manage your portfolio, and will be helpful in keeping tracking of your investments and any concerns relevant to it like taxes and other legal considerations.
Having a portfolio manager will help you focus on other stuff that matters that are business-related. He or she can also help you decide whether or not a potential investment is indeed worth your money and time.
Keeping these information, and many others, in mind will help you ensure that you are always making the right decisions every time you consider putting money behind a real estate venture.
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Photo credit : Mark Moz