Thailand is indeed one of the best places in which to invest one’s money for business or for retirement. One of these methods of investment is to acquire real estate property in the country. That should always be part of your business plans as an entrepreneur – when your business grows in size, your long term plans for Thailand should include an investment in real estate.
Of course, as a foreigner, Thai law restricts your access to real estate in order to favor the locals more. However, if you’re a businessman, or at least an owner of a company that makes significant contributions to the economy in Thailand, you are exempt from those restrictions and are free to buy land in the country for your business.
All foreign businessmen in Thailand, on the other hand, can buy condominiums. The Condominium Act in the country allows every foreigner to purchase a unit in a condominium project provided that the 40% allowance for aliens has not yet been sold out. This means that only 40% of the total number of condominiums in a project can be sold to foreigners.
Even if that allowance has been sold out, you could enter into a long-term lease agreement with a local for a condominium unit. You can then use the condominium as a personal residence while you are in Thailand, or as an additional source of income as you can sub-lease that to another foreigner as long as it has been agreed upon in the lease contract.
The question is – why is it ideal for you, as an entrepreneur, to dish out some cash to invest in real estate property in Thailand?
- Rapid national development
Being one of the major members of the Association of Southeast Asian Nations, Thailand has undergone several critical infrastructure developments in the past year. This means that real estate properties are bound to appreciate in value in the near future. Acquiring property in Thailand at this time of significant development means that you can gain from your investment within the next few years.
- It could save you money in operational expenses
Having your own property in Thailand can help save your business some cash that will otherwise go to operational expenses. By minimizing your operational expenses, you are also increasing your profits provided that your revenue and cash flow are both good. Entering into lease agreements can also enable you, in a way, to work towards terms that are both favorable to you and the lessor so everyone’s a winner here.
Of course, if you’re going to put money on real estate properties in Thailand then you’ll need the help of a property manager in Thailand. Because you’re too busy to manage your real estate portfolio by yourself, you will need someone who knows the ins and outs of Thai real estate law, as well as someone with a working knowledge of the taxes and other fees associated with owning real estate property.
Talk to us now about how you can benefit from acquiring real estate for yourself or your business in Thailand, and how we can help you in managing that property for you.