News and Updates

Why You Still Need A Real Estate Agent

Of course, it is difficult to expect that the real estate agency will write in its blog that you really don’t need their services! Just like any seller or developer will never say that their proposal is not the most beautiful, that in fact it is a long way to the beach, that the timing of the construction will be extended and that right in front of your window a new skyscraper will be going up soon! However we will try to overcome this bias and present our arguments very briefly below. The rest is up to you!

If you buy on the primary market (new developments).

  • The price of the new property in all agencies and the developer is always the same. It is pointless to refuse to work with the agency in order to save something.
  • Each developer will obviously not provide completely objective information. Real estate brokers are also interested in selling, but it has (in contrast to the developer) more choices and each project is not unique. Therefore the broker will present more objective information on the various projects available.
  • The advantage of agencies is in the comparative examination. A wealth of local knowledge and assessments help to form a clearer picture of what you are looking for.
  • There are more and more new projects being built today in Chiang Mai. You can hardly go round all the projects independently (or it would take about a month). The broker will help you to plan and arrange viewings.
  • Real estate brokers have certain ‘Insider’ information and will warn you about some ‘Gotchas’ when choosing one or another variant, for example on how a specific neighborhood will be developed, are there any plans of new developments next to your building, how the infrastructure will be developed, etc .
    If you purchase a property with a goal to rent it out, then the real estate broker can give you sound valued advice, based on its own practical experience. Who better to advise you here?
  • Despite the fact that the legal process of buying a new condo is Thailand is well regulated, there are still times when you may be offered what someone that is well versed in the local market would consider questionable? The task of the broker here is to clarify the situation as much as possible, so that the customer should always know and understand what exactly he is signing and be sure to warn them if something does seem correct.

If you buy on the secondary market.

  • Realtor’s proposals database will always be greater than you can find yourself.
  • Due diligence (checking the legality of ownership). Just read what you need to know when planning to build or buy a house in Thailand. This checklist is a little bit less when you are buying an apartment in the secondary market. However, it is unlikely that one can master it in a foreign country in a foreign language on their own.
  • In contrast to the transactions on the new developments primary market (where the state controls the seller and protects the rights of the buyer), the deal in the secondary market operates with full freedom of the provisions of the contract. Are you sure that you will be able to properly conduct all negotiations with the seller of the property (and, for instance, properly define sharing of the costs of re-registration of property)? Can you foresee all possible negative scenarios? We will not overload the specific examples, but, as in any (and not only developing) country, there are many cases of unfair participants in the property transaction.
  • Registration of the transaction must be properly prepared from the paper side. To do this you need to collect a certain set of documents, some of which need to get at certain government departments. The broker will assist in all of this.
  • Finally, the transaction and registration at the Land Department. Like everywhere, government bureaucracy can be quite difficult to decipher. Working with the agency will save you time and effort as we have done it all before.
  • After buying real estate you may have many questions regarding its service. Minor repairs, communication with utilities, etc. At first, you will probably experience some difficulties in a foreign country. Again, the agency can come to your aid.
  • And the last. If you want to sell your property, it will be much easier to do through an agency with which you have already established relations and whom you trust.

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Land Measurements Explaination

In Thailand, building plots or the total saleable area of a condominium are measured in a different method than most other countries. Measured in rai, nagn wah or square meters, refer to the below chart to equate the differences.

1 square wah = 4 square meters
1 ngan = 100 square wah or 400 square meters
1 rai = 4 ngan or 400 square wah or 1,600 square meters
Converting from metric:

1 acre = 2.53 rai or 1,012 square wah or 4,047 square meters
1 hectare = 6.25 rai or 2,500 square wah or 10,000 square meters


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Property Ownership

When investing in property in any country there are different laws to abide by. Whether you are looking to purchase a condominium or exploring the option of owning land there are certain legalities to be aware of in Thailand.

Condominium titles
Investing in a condominium in Thailand is the most common means of property ownership amongst the expatriate population due to its ease of maintenance. The cleaning and upkeep of the condominium’s communal areas is the responsibility of the managing agent, paid for by the common area fee. However, the process of purchasing a unit in a condominium is fairly straightforward too, and investors should be aware of the following points.

Foreigners can only own up to 49 percent of the total salable area of a condominium building. A foreigner purchasing from a foreign seller transfers this foreign quota, however a foreigner purchasing from a Thai national or purchasing in a brand new building will need to ensure that there is a sufficient foreign quota left.
The purchaser must hold a valid passport.
All funds to pay for the property must be transferred into a Thai bank account or directly to the solicitor.
The 1991 Condo Act states that all foreigners (except those with permanent residency in Thailand) purchasing property in Thailand must ensure that their funds enter Thailand as foreign currency so the Bank of Thailand can control the flow of foreign currency coming into the country. The land department must comply to this so any sale transaction over USD 50 k must be supported with a foreign exchange transaction form (FEFT) when the title deed is transferred to the new owner.
The FEFT must clearly state:
Amount in foreign currency and Thai baht. Note the amount must be higher or equal to the sale value.
Sender and recipient’s name. Note the land department will accept the purchaser’s name as the either the sender or recipient name.
Land titles
Foreigners are not permitted to own land in their name but can own the right to freehold ownership of any property or other buildings on the land. There are two options for foreign acquisition of land in order to build property.

A lease can be purchased on the land. Leases are for a term of 30 years and usually come with two options for renewal of 30 years each giving a total of 90 years.
The freehold of the land can be purchased by a foreigner through their business providing that the shareholder of the business is at least 51 percent Thai. This method allows foreigner owners complete control over the land and the property, however the land ownership is registered to the company and not the individual. Recent changes allowing the male or female Thai spouse of a foreigner to purchase land in his or her own name are mitigated by the requirement that money used in the purchase legally belongs to the spouse and that no foreigner can lay claim to it.
Land title deeds green-house-sell-property
There are six different land titles in Thailand. A solicitor will be able to provide more information on these, however foreigners generally use one of the following three types for leasing land for a new build property or to own land through a company.

1. Nor Sor 3
The Nor Sor 3 land title allows the legal construction of a property on the land, but only represents a usage certification by the government given to the proprietor. It is not a title of possession, but does ensure that the person holding the title can benefit from the land or use the title deed as a legal document. As it’s issued only for a specified plot unconnected with other adjacent plots, it’s regarded as a floating map with no defined boundaries. Problems can occur with defining the actual area referred to on the title deed, and any legal developments must be publicised in the public domain for 30 days.

2. Nor Sor 3 Gor
The Nor Sor 3 Gor land title is similar in legal format to the Nor Sor 3, but refers to a measured-out parcel of land defined by small posts at its borders. The land can be divided into smaller plots, and publication of legal developments does not have to be made.

3. Chanote Land Title (Nor Sor Gor 4 Jor)
The Chanote land title is the preferred option for foreign buyers, as it acts as a certificate of legal leasing of the land. The deed itself is issued using GPS to accurately determine the land boundaries and can be used to confirm the lessee’s legal right of occupation to the local authority. The total area can be divided into no more than nine separate plots, subject to Section 286 of the Land Allotment Law. A Chanote deed is the most secure of all the available title deeds.


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Fees To Be Aware Of When Purchasing Property In Thailand

When investing in property in Thailand, there are a few costs that the buyer and seller will incur that need to be considered as part of the transaction.

1. Transfer fee.
The transfer fee is two percent of the assessed value of the property. The assessed value of the property is the amount determined by the the Treasury Department compiled using data from the Land Department. Generally the transfer is split between the purchaser and seller, but is sometimes used as negotiating tool as part of the sale.

2. Stamp duty or specific business tax.
The sellers incurs either stamp duty at 0.5 percent or specific business tax at 3.3 percent. The latter is used for owners who have held the property for less than five years as as way to deter speculative investors in Thailand’s property market.

3. Withholding tax.
This is a progressive tax paid by the seller of the property.

4. Sinking fund.
This is a lump sum payment for all brand new condominiums paid by the first owner of the property. It is held in reserve and used in the case of major refurbishment works for the building.

5. Common area fee.
Calculated depending on the size of the property, the common area fee is paid by the owner usually per annum. The common area fee pays for the daily upkeep of the building and its facilities including cleaning and maintenance as allocated by the management company.

6. Utility meters.
Upon successful transfer of ownership of a property, the purchaser is required to pay the registration of the electricity meter for a brand new property and the transfer of ownership of the electricity meter for resale properties.


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Thai Driving License

A driver’s license is required before someone can drive on any road in Thailand. Thai driver’s license is issued by the Department of Land Transport, Ministry of Transport and can be used throughout the Kingdom of Thailand and other ASEAN states. The minimum of age to drive a motor vehicle is 18 years old and 15 years old for motorcycle.

Applying for a driver’s license

In Thailand, Driving license is very important and it is one important thing that everyone should has. In order to get a driving license, candidates should set aside two full days for training and testing at the Department of Transport Office. Two days of the driving license’s examination taken.

Day 1

For the first day of the examination, candidates are required to make an appointment for visual and response performance tests and a four-hour legal, road code and defensive driving sessions at their local Department of Land Transport office. After which, candidates will be required to do the examination. The examination is done though a computerized system which is available in Thai, English, Japanese and Chinese. Other languages apart from Thai may not be available in Department of Land Transport office outside Bangkok. One reset is allowed on the same day. Upon successful completion, candidates will be allowed to make an appointment for practical examination. The practical examination must be done within 90 days of successful written examination.

Day 2

Candidates will be taken around the examination venue where the procedure is explained. There are generally three stages of the examination. For car, first of all is driving straight forward and backward. The second step is parking beside the edge of footpath and the last step is going backward into parking place. For motorcycle, the test is an easy one, ensuring you can ride a bike through a set of cones.After all completion is complete, candidates will be given documents and redirected to the office where photo is taken and temporary license is issued at the cost of 205 Baht (US$6.50). If the candidates fail to pass any part of the examination, candidate will be given a notice to redo the part he/she fail after three days but within 90 days of the last examination.

Required documents

1. Passport and the copy of the first page for foreigners and identification card for Thai people.

2. The medical certificate which is no longer than 1 month after it’s issued.


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Chiang Mai International Schools

Chiangmai is an educational city because it has a good environmental of learning and also has many kindergartens, Elementary schools, Secondary schools and high schools. Most parents are worry about where should they take their children to study? , Which school is the best for their children? Actually, these questions are happened with every family.

In order to release the parent’s anxiety. There is a list and information of the best schools in Chiangmai which can help and suggest most people who are looking for the appropriately school for their children. There are three levels of the school which is a Thai educational standard. First of all is the International kindergarten, the second is an elementary school and the last one is a high school.

There are many places of the schools in Chiangmai but for this information below is an interesting schools which we would like to suggest.

1. Varee international School

Varee international school was established in 1976 by Ajarn Varee Pattarawanish. After that, Varee international School has been the best of teaching in a Child-Centre system which is a center emphasizing at the students. Because of that permanent point, it made teachers from all over the world come to visit and take a field trip to learn more on what are in the Varee School’s learning system continually. So, Varee International School becomes a famous, well-known and it was accepted to be the best education institute. Moreover, Varee International School also has the greatest of the educational management which is emphasize directly to the students in order to make them to be a people who fulfill with the knowledge, intelligence technical skill of learning and being with another people in the society. All learning procedure is running with the happiness which is the most important part of learning because most students love to learn with the happiness. Finally, Varee International School uses the English language as a basic communication in both of studying in a classroom and outside the classroom.

Classes:                                                                                                                       

 1) Pre-kindergarten

2) Kindergarten

3) Primary School

4) Secondary School

Special learning functions: (optional)                                                                                                              

1) Thai language teaching

2) International teaching

3) English Program teaching

Contacthttp://www.varee.ac.th/en/index.php

2. Montfort College

Montfort College is a private school under the Parada Sent Cabrial Foundation. Nowadays, Montfort College is divided into two divisions, such as; a primary school and a secondary school and it is established on 16’ March 1932. A primary school is located at Jaraernraj Road, Changklan, Mueng, Chiangmai and a secondary school is located at the Montfort Road, Montfort Villa, Thasala, Mueng, Chiangmai. Montfort College.

In 2013, Montfort College was given a certificate from the institution of Cambridge to be the partial Cambridge University which gives the students in the secondary grades study in English, Math and basic science. It is a standard of IGCSE and after graduate; all of students will get a certificate to guarantee the education.

Classes:                                                                                                                                                                          

1) Primary School
2) Secondary School

Special learning functions: (optional)                                                                                                              

1) Thai language teaching.
2) English Program teaching

 

Contact:
http://register.montfort.ac.th/2557/index.php

3. Prince Royal’s College

The Prince Royal’s College, located on Kaew Nawarat road, Wat Ket, Mueang district, Chiang Mai. On March 19, 1887, Rev. David G. Collins, an American missionary under the Laos Mission of the Presbyterian Church in USA, founded “the Chiangmai Boys School” or was known as “Wang Sing Kham boys’ school,” which was the first boys’ school in Northern Thailand. The school is located on the west side of Ping River at Ban Wang Sing Kham. Lanna language was the language used while teaching and there was bible study since then. The first generation teachers were Kru O, Kru Bunta, Kru Dang, and Kru Prom. In 1957, the female students were accepted only for high school. Nowadays, the Prince Royal’s College is opened for males and females from kindergarten to high school.

Classes:
1) kindergarten
2) Primary School
3) High School

Special learning functions: (optional)
1) Thai language teaching.
2) English Program teaching

Contact:
http://english.prc.ac.th/

4. Yupparaj School

Yupparaj school is the first governmental school in Chiangmai. It was established in 1899 according to the desire of King Rama 5. Currently, Yupparaj School becomes the one of the main secondary school in Chiangmai which is located in a central city of Chiangmai. The fields of study are since Grade 7-12. There are 3,432 total amount of students and 250 total amount of teachers.

Classes:
1) Secondary School

Special learning functions: (optional)
1) Thai language teaching.
2) English Program teaching

 

Contact:
http://www.yupparaj.ac.th/pages/about_yrc.php

5. Wattanothaipayap School

Wattanothaipayap is a World-Class Standard School. It was established in Mueng Chiangmai in1906. In the past, it was a school for only females but recently, it is a school which allows both genders to study together. The fields of study are since Grade 7-12.

Classes:
1) Secondary School

Special learning functions: (optional)
1) Thai language teaching.
2) English Program teaching

Contact:
http://www.wattano.ac.th/wattano/


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Thailand Visa Informations

1. Tourist Visa

This kind of Visa is especially for the foreigners who want to enter into Thailand only in the presence of tourists (code: TR). This visa last long only 3 months or 6 months. The fee is 1000 baht per time of approval. The visa is totally usable for 60 day per each approval. The minimum of budget requirement is 20,000 baht per each person or 40,000 baht per each family.

REQUIRED DOCUMENTS

– A copy of the passport or the qualified documents which can be used instead of passport need to have been used over 6 months at least.
-The visa form which is completely written.
-Two 2 ½ inches photos without glasses and cap. (The photos must be within 6 months while the time using)
-The evidence which is showing the date of departing from Thailand after finish the travelling such as round trip ticket or the ticket which is bought in order to go to the third country.
– Travelling agent’s documents in the case of coming with travel agent.
–  The immigration officer might be asking for more information from the foreigner who desire to ask for the permission to come to Thailand.

The foreigners who want to extend the time to stay in Thailand or change the type of visa, please file a compliance at the Immigration Office, Jangwatana Road, Bangkok. Tel. 02-141-9889 or http://www.immigration.go.th/  the approval depends on the consideration of the immigration officer.

2. Education Visa

Education Visa is the visa which allows the foreigners to stay rightly in Thailand at least four to six months in the presence of student. This type of visa is issued to applicants who wish to study, attend seminar, apply training session, or do the internship in Thailand. The advantage of this visa is the foreign students do not have to repeat doing Visa every time they enter into or leave from the country. This kind of Visa is one-time done until the expired date. The visa fee is 80 USD or 3000 baht.

REQUIRED DOCUMENTS

– The specific form (TM.7) (can be downloaded from www.immigration.go.th)International Cooperation Centre (ICC), KMUTNB Tel. +66(0)2-555-2000 Fax +66(0)2-586-9007. Email: icc@op.kmutnb.ac.thIdentity : Create and Coordinate International Relations Update.

– A recent 4×6 cm photo.

– A real passport and copies of the pages which show the photo, Thai Visa, recent seal of Thailand entry, TM.6 then please sign on all copies.

– The copy of student card and the recent registered document for study (in the case of full time study.)

– Fee; 1,900 THB (The student’s duty)

– Document in order to extend the Visa, Thai language requirement. (Issued from the university.)

Note:

– The student must go by self to the immigration station and complete the extension before the expired date.

– After finished the extension, the student must report every 90 days (90 days report TM.47) (No payment, FREE!) following the form of exceeding 90 days at the Immigration station, the fine is needed after the expired date.

– In the case of leaving from Thailand during the period of Visa (before the expired date) and desire to maintain the Visa, must complete the Re-Entry permit form before leaving, otherwise the Visa is automatically inactivated. Required payment is 1,000/3,800 THB.

– The student who already has Multiple Non-Immigrant ED can choose the method to leave and reentry in order to extend the Visa for 90 days consecutively until the expired date of the Visa. The Re-Entry permit and 90 days report (Form TM.47) are not required.

3. Visa on Arrival

This kind of Visa is for the foreigners who have valid passport or the documents which can be used instead of the passport and only come from the 1 of 18 available countries and 1 economic area (Taiwan). This Visa is a short term staying for the foreigners who desire to visit Thailand for short time mere 15 days. The approval can be done at the 42 specified immigration stations. (The foreigners who are not from the specific 18 countries and economic area (Taiwan) cannot do the Visa on Arrival, must be approved from Consulate or Embassy of Thailand before the entry.)

REQUIRED DOCUMENTS

– Ticket or the document which shows the complete payment can be used for leaving in the limited day, only 15 days counted from the date of entry.

– Cash or payable, exchangeable document which cost equally at least 10,000 THB per each person or 20,000 THB for each family.

– The completely filled form of petition (can receive from the immigration station.)

– A recent 4×6 photo

– A passport which have been being used at least 6 months.

Fee; 1,000 THB (including all passport carrier, diplomatic, governmental in the case of the country does not have a condition of exception from Thailand.) Visa on Arrival normally takes 20-25 day for permission.
In order to extend the time of residence is not allowed for this kind of Visa, except some cases, such as, sickness. The extension can be done at the immigration station in any province, the duration is considered by the officer differently depending on the case.

(More info. Immigration station, Jangwattana Road, Bangkok Tel. 02-141-9889 or http://www.immigration.go.th)

18 countries and 1 Economic area of Visa on Arrival

1. Andorra
2. Bulgaria
3. Bhutan: Kingdom of Bhutan
4. China: People’s Republic of China
5. Cyprus: Republic of Cyprus
6. Federal Democratic Republic of Ethiopia
7. India: Republic of India
8. Kazakhstan: Republic of Kazakhstan
9. Latvia: Republic of Latvia
10. Lithuania: Republic of Lithuania
11. Maldives: Republic of Maldives
12. Malta
13. Mauritius: Republic of Mauritius
14. Romania
15. San Marino
16. Saudi Arabia: Kingdom of Saudi Arabia
17. Taiwan
18. Ukraine
19. Uzbekistan

4. 90 days reporting visa

90 days visa is for foreigners who want to come to visit Thailand and plan to stay no longer than 90 days or three months by holding a Non-Immigrant Visa. If you are a foreigner staying in Thailand for a period longer than 90 days, you are required by Thai Immigration to report your current address every 90 days. You must file this report within 7 days before, or 7 days after of your 90-day period expires7. You can file your 90-day report at the immigration offices throughout the country. Or in the other convenience way to report your 90 days visa is reporting by the registered mail.

Report 90 days’ Documents required for the registered mail.

-Copy of all passport pages (up to the latest arrival stamp in the Kingdom or latest visa stamp)

-Copy of arrival/departure card TM. 6 (front and back)

-Previous notifications of staying over 90 days (if any)

-Completely filled in and signed notification form TM. 47

-Envelope with 5 Baht stamp affixed and returns address of foreigner for the officer in order to send back the lower part of form TM. This part must be kept for reference and for future notifications of staying over 90 days. And send all of documents to 90 DAYS REGISTRATION, ROOM 206,IMMIGRATION BUREAU, 507 SOI SUANPLU, SOUTH SATHORN RD.,THUNGMAHAMEK  SATHORN BANGKOK 10120 and please remember they should arrive 7 days before your 90-day period expires.

5. Retirement Visa

The retirement Visa is for the foreigner who is over 50 years old and desires to occupy in Thailand. The evidence of money, the financial account must be over 800,000 THB or 65,000 THB per month (12 months is gathered equally 800,000 THB). The foreigner can file a complaint at the Immigration station, the available period of time is 1 year, and in the case of having Multiple Non-Immigrant Visa, the person doesn’t need to do Re-Entry because it’s common to reentry after leave in 90 days.

REQUIRED DOCUMENTS

– Passport and the copy of the first page with a valid signature.

– Three 2 inches photos (colored)

– Kasikorn Book Bank or Science Commercial Book Bank and the copy of the first page with a valid signature.

– Reference of address.

– TM.7 form

– Fee; 1,000 THB

6. Business Visa

The Business Visa is for the foreigner who desire to work in Thailand as a business owner, employee or any occupation. The form of Non-Immigrant Visa “B” is needed or business type. Moreover need to submit the Work Permit, otherwise being invalid to work in Thailand.

In the case of having only Non-Immigrant Visa “B” without Work Permit, the person can complete by self at Department of Employment, Ministry of Labor and Social Welfare in 90 days since the date of arrival following the law of temporary residence.

7. Board cross Visa

Thailand has two types of border crossings; international and local. As you may suspect, international crossings are generally open to all foreign nationalities who are in possession of a valid passport and visa (if necessary), while local crossings are open only to locals (on each side of the border) who are able to cross back and forth using some form of border pass. The international crossings are the only ones covered in this section.

Thailand has over twenty international overland border crossings. These allow overland travel to Malaysia (seven crossings), Burma (three crossings), Laos (six crossings) and Cambodia (six crossings). You can also arrive by air at a number of international airports, including Bangkok’s Suvarnabhumi and Don Mueang, as well as Phuket, Ko Samui, Chiang Mai, Hat Yai and Krabi.


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China Top Asian Outbound Investor, US Market Most Popular For Investment

Chinese investors dominated Asian outbound real estate investment last year, according to a new report from CBRE. China accounted for almost 50 per cent of total investment while overall activity from Asia as a whole remained robust. The charge was led by institutional investors who were responsible for 6 of the top 10 largest outbound deals in 2016.

“Chinese investors remain active in deploying capital offshore into global real estate assets. Despite recent policies by the government restricting Chinese outbound investment, there continues to be a steady flow of Chinese capital overseas as investors seek to diversify their portfolios,” says Yvonne Siew, Executive Director, CBRE Global Capital Markets.

The US continues to be the most popular destination for Asian capital, drawing 43 per cent of total outbound investment from Asia. Europe was the 2nd most popular destination while there was also an increase in intra-regional activity in 2017, research from CBRE shows.

“With more scrutiny on cross-border capital flows and rigorous checks by the government which may lengthen the approval process, Chinese outbound real estate investment may moderate, gathering at a more sustainable rate. Instead of larger transactions, Chinese investors may simply opt for a higher number of smaller deals. Regardless, Chinese appetite for global real estate investment will remain solid but more cautious, with Chinese insurers and qualified Asset Managers being the active institutional investor class,” says Siew.

New York was the top metropolitan location for outbound investment last year surpassing London, which was the 2nd most popular. Hong Kong, Seoul, and Sydney rounded out the top 5 most popular outbound investment destinations.

“Asian investors are now showing more interest and seeking out assets in more diverse markets globally. Compared to 2015, more capital was deployed to alternative gateway cities in search of attractively priced opportunities. Places in Continental Europe such as France and the Netherlands; Chicago, San Francisco and Washington in the US; and Vancouver in Canada, are now on more investor radar screens,” says Robert Fong, Director of Research, CBRE Asia Pacific.


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