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Foreign nationals can own condominium units as freehold owners in buildings where no more than 49% of the unit floor space is owned by foreigners. Units that are part of the Thai quota or are being leased for 30 years can be converted to the foreign freehold quota if it is currently below 49%.
Foreigners can own a condominium Freehold in their own name. Condominium ownership is best explained by looking at an example of a project that has 100 units for sale.
In this example, 49 of the total units in this building (or 49% of the total salable area) can be owned outright by non-thai nationals in their name. The ownership titles of these 49 units is referred to as Freehold or Foreign Quota.
This leaves 51 units remaining in the building (or 51% of the total salable). The freehold rights to these units are reserved for Thai nationals in what is commonly referred to as the Thai quota.
After you have found the right property at Hennessy Residence you have to follow these steps:
The Classic Installment Milestone Payment Reservation Deposit Immediately $4,380 1st Installment Contract Signing within 30 days 35% 2nd Installment Land plot preparation and Constrution Start 10% 3rd Installment Complted pilling, footing and Foudation 15% 4th Installment Complted of Main Structure 15% 5th Installment Completed of Window and partition 15% 6th Installment Completed of Unit and Move in 5% 7th Installment On handover 5%
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.