Bangkok is every traveller’s dream destination as this tropical wonderland welcomes everyone of all age groups. Bangkok has something in store for everybody who visits, right from shopping, to nightlife and even nature. While some people prefer to keep their stays short and visit often, others choose to invest in property in Bangkok, thus making it their vacation getaway home.
Yes, it was once believed that foreigners cannot invest in the Thailand real estate market, however, this is not entirely true. If you are wondering, Can Foreigners Invest In Bangkok Real Estate, then the short answer is yes, you can read more on such topics as well as exceptions, legalities and rules of investing in Thailand on the Silk Estate Blog.
For serious investors, the world is their oyster and they have endless possibilities of which countries they can invest in. While that might be, Bangkok and Thailand are unique in many ways. There are numerous reasons investors should consider Bangkok for their next property investment and here are the top 4 reasons Bangkok is perfect for your next real estate purchase.
Bangkok is The Capital of the AESAN Economic Community
The Thailand government’s decision to pair up an investment of a little over 2.2 Trillion Bahts with the investment in transport infrastructure was a strategically excellent move. This helped Bangkok majorly mainly as the influx of the AESAN Economic Community along with the government’s monetary and infrastructure pairing led Bangkok to become a stable and economical capital of the country.
This translates into luxury condominiums being sold, rented and leased at record-breaking prices in many parts of Bangkok. As Bangkok is the AEC logistics hub of the country, foreigners who had invested in the Central Business District of the city, have seen major returns on property investments in the last 10 years.
Other than condominiums, foreigners who have invested in condotels have also seen significant monetary benefits of renting out these units back to the hotel for 11 months every year. While foreigners who have chosen Bangkok for their past property investments have seen gains, the investment rates in this hub are still lower than the rates of other Asian countries with similar infrastructure.
Bangkok has proved to be a lucrative business and investment destination, especially for long-term investors who are not looking to pull out their investments any time soon. Yes, while many foreigners have received gains from short-term investments, the city is only set to grow in the next 20 years and long-term investments are believed to pay the most for those who are here to stay.
Future Concessions and Perks for Global Citizens Investing in Thailand
Bangkok is a stable city in terms of economy, and while COVID has impacted the country up to an extent, the Thailand government’s latest initiative is believed to bring the country out of the COVID-influenced economic slump. This initiative includes various real estate, tax and immigration concessions to affluential global citizens in an attempt to help the country as well as allow foreigners to legally own property, and live in the country with their families while paying lower taxes.
The Condominium Act, B.E. 2522 (1979) of Thailand permits foreigners from any country to legally own the title deed of the purchase of condo units. This act does not include freehold properties and as a general rule, only Thailand citizens can own land, while foreigners can lease the structure built on the land, but not the land itself. However, the new concessions are believed to offer additional perks for long-term leased properties for eligible global citizens.
These incentives are soon to be rolled out in 2022 with additional perks to be decided in the next few months. Visit the detailed Silk Estate Blog to read more about this.
Modern Facilities with Traditional Legacies and Heritage
Thailand is a land of heritage and legacies, and Bangkok is a city with beautifully built temples, heritage sites, age-old rivers and much more in the way of legacies. Thailand is ruled by a King and also has a government, it is the perfect mix of culture, values and modern development. Bangkok is one of the main tourist places in Thailand, and Phuket is another popular tourist destination.
More importantly, Thailand, especially Bangkok has modern amenities that are as good as those in many western countries such as US and UK. Right from hospitals, to supermarkets, nightlife and shopping, Bangkok has all of the facilities any foreigner needs to live in the city comfortably and in bliss.
Bangkok makes a perfect property investment market for foreigners who wish to stay in their self-owned condotels for a few weeks a year. The hustle and bustle of the city are ideal for foreigners who wish to live in a long-term 30 years leased property that they have bought or constructed on leased land. It also makes for a perfect real estate investment choice for investors looking to own land through large investments to the Board of Investments. The city makes a perfect retirees’ destination who want to spend their nest egg in a tropical paradise they love. It also makes for a perfect investment for inheritance and succession of condos and condotels.
A Lucrative Investment for Foreigners Looking To Invest Through Offshore Companies
The returns of investing in the Thailand property market have always been lucrative for foreigners who have invested through offshore companies. The Amity Treaty has empowered US citizens by giving them many perks of investing in the country for both business and real estate purposes.
Offshore companies that have been set up to buy a piece of land have to follow the local laws, but this treaty exempts foreigners from the majority of the restrictions for investment that were imposed by the Alien Business Law of 1972.
The minimum investment required under the Amity Treaty to enjoy the perks, as a company is a sum no lesser than 2 Million Thai Bahts. However, if the firm is choosing to register a Foreign Business License then the minimum investment amount is a sum no lesser than 3 Million Thai Bahts.
To set up an offshore company to invest in Thailand property, eligible candidates have to hire legal help to complete documentation. Once the documentation has been filed and the process is completed, the company is eligible to own land through the firm. It should be noted that the purchased land belongs to the firm, and not to a particular person. It should also be remembered that 51% of the legit investors should be of Thai nationality and the firm should be functioning legitimately and should be really pumping money into Thailand through businesses and investments.
Silk Estate – Peace of Mind Every Time You Choose Us
Sorting and sifting through properties without having a proper guide can be a cumbersome task for foreigners. It doesn’t have to be, especially when you choose us as your real estate agent and liaison. We can act on your behalf as your chosen reliable and trustworthy real estate agent in Thailand to do your bidding and close the deal quickly. To know more about the services we offer book your FREE property consultation call today.
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