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Thai Government Regulations for Condos

Transcript of the above video:

As the title of this video suggests, we are discussing Thai Condos and Government regulations associated therewith. A recent comment on our channel, it was on actually one of the prior videos we have done discussing Thai condos, we got this comment. I am going to quote directly: "I have heard there are no government regulations for Condos. This may make it risky!!!!!!! Plus there is a maintenance fee." 

Let's start off. "I have heard there are no government regulations on Condos." Not true. In fact completely the opposite. There is and I have discussed it length. There is the Thai Condominium Act and the Thai Condominium Act governs a number of things associated with Thai Condos. There are also a number of Thai regulations associated with city planning, there are general rules regarding Juristic Persons that maintain condos here in Thailand but the main one with respect to especially foreign ownership of Condos here in Thailand is the Thai Condominium Act. The Act, as we have noted in other videos on this channel, in order to gain freehold title to a Condo here in Thailand, Chanote title, actual title to a Condo, the condo must comport with the Thai Condominium Act and there are various rules regarding that. One of the major ones you hear a lot of people talk about is the 49/51%.  The total units of a given juristic person have to be 49% foreign nationals or less and 51% in Thai ownership. So, long story short, if you have a condo unit or you have a Condo juristic that has 100 units in it, only 49 of those units can be foreign owned and grant freehold title to a foreign national. So there are other regulations. There are rules regarding transfer of funds into Thailand regarding the purchase etc. There is a lot of complexity associated with a foreigner gaining freehold title to a Condo in Thailand. 

Long story short, yeah there are regulations, a lot of them, regarding Thai Condominiums, regarding the safety standards associated therewith, regarding the planning associated therewith; so the notion that there are no regulations associated with Thai Condominiums is a bit absurd.