Frequently Asked Questions

Q. Is it possible for me, as a foreign national, to buy and own property in Thailand in my own name?
A. Yes, Foreign nationals can own condominiums in Thailand in their own name as long as the overall foreign ownership of units doesn’t exceed 49%. Foreigners are prohibited to own land in Thailand in their name but can lease the land for a period of max 90 years. GlenAsia offer their clients a unique solution when it comes to property and land ownership.

Q. If I wish to rent out my apartment our house, can GlenAsia provide rental services for me? And if so, what is the expected annual return on investment?
A. Yes, the owner can choose to enroll in GlenAsia’s rental program by placing his unit in a renting pool. The expected return on investment is approximately 5-6%.

Q. The monthly common fee that the buyer pays, what does it include?
A. The common fee includes 24 hour security, caretaking of all common areas such as pools, buildings and all facilities. It also includes service of the buyers unit to ensure the unit stays in prime condition when owner is not on location. In addition it also includes taking care of owner’s utility bills.

Q. What types of insurance do I need for my property and how much are those in Thailand?
A. There are several types of insurance companies to choose from, both Thai companies and international ones. The prices starts from 2000 bath annually depending on which company and the scope of the insurance itself. GlenAsia can recommend policies which suit your individual needs.

Q. Is there any tax that comes with purchasing a condo or house in Thailand?
A. Yes, there was a government tax of 6.8% of the taxation value of the property. In 2008 the Thai government reduced this tax to 0,21% for projects that are completed before march 2010.

Q. How much can I expect for water and electricity bills for my property?
A. For water approximately 150-200 Bath per month when you live in the apartment and for electricity an average of 1000 bath per month when staying in the apartment. The cost is mainly depending on the amount of time the air conditioner is used.

Q. How long can I stay in Thailand without any problems with my visa?
A. There are many kinds of Visas available in Thailand and most are easy to obtain if the applicant fulfills the requirements of the desired visa type for example retirement visa, tourist visa, and marriage visa etc. More information on Thailand’s immigration and visa laws can be viewed under the Thai ministry of foreign affairs (www.mfa.go.th) or by contacting the Thai embassy in your home country.

Q. Can I open a bank account in a Thai bank without a work permit?
A. Yes, some banks allow foreign nationals to open an account as long as they bring their passport.

Q. What will happen with my property if I should pass away?
A. GlenAsia suggests that the owner sets up a will in Thailand which specifies who shall be the rightful owner of the property. GlenAsia can recommend lawyers who can help you with this service.

Q. Is Thailand a safe country to invest in?
A. Property and land prices have gone up steadily for the past decade. Some areas of Thailand, including the eastern seaboard, is currently under great development with many new quality projects coming up. The planned hi-speed train from Bangkok will make travels on the eastern seaboard even more convenient which will contribute to a continued increase in property value. The new airport, Suvarnabhum, which opened in 2007, reduced the driving distance to Pattaya by more then 30 minutes. It now only takes 1,5 hour to get there. This led to an increase in property value not only in Pattaya but also Rayong and other Eastern Seaboard locations.

Q. Is Thailand a safe place to live in?
A. yes, very safe. The infrastructure is excellent. The medical care is outstanding. So good that in fact the term “medical tourism” has become a concept to associate with Thailand because of its advanced and professional service. The crime rate is low. Thai people are known around the world for their friendly and welcoming attitude. You are more likely to run into trouble in any European capital then in Thailand.