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How to buy property on Thai Company Name in Pattaya

Find out the benefits of buying property in Thailand through a company to enjoy a property....
IBS Pattaya
April 19, 2023

Home » Business » How to buy property on Thai Company Name in Pattaya

If you are a foreigner interested in buying property in Pattaya, you may have heard about setting up a Thai company to do so. This is because Thai law states that foreigners can only own a limited percentage of real estate in Thailand. Fortunately, there are legal ways to get around this restriction. In this article, we will guide you through the steps to set up a business in Pattaya to buy property.

Types of property available in Thailand

Thailand offers a wide variety of properties for foreigners to buy. If you are looking for a property to live and invest in, you can find villas, condominiums, land and commercial properties available.

Buying a House on Thai Company Name in Pattaya

Buying a house in Pattaya is a popular option for foreigners. Villas offer exceptional privacy and living comfort in peaceful locations. Villas are also considered a profitable investment due to the high demand for holiday rentals.

Condominium purchase on Thai Company Name

Buying a condominium in Thai Quota is becoming increasingly common for foreigners looking to invest or own a second home in Pattaya. Moreover, residences often offer facilities such as swimming pools, gyms and security services. Condominiums are also often close to amenities such as markets, local shops and restaurants.

Buy land with a company in Pattaya

If you want to build your own property in Thailand, buying land is one of the options to consider. There is a wide variety of land available for purchase throughout the country, ranging from urban land to beachfront land.

Investing in a commercial property

Investing in commercial property in Pattaya can be an attractive opportunity for foreigners. Commercial properties include offices, shops, warehouses and factories. Furthermore the advantages of investing in commercial properties with a thai company name are many: you can get a good rental return, you can benefit from an appreciation in the value of your property. And you can also have a foothold to develop your business in Thailand.
Different Property Options to Buy in Pattaya

Restrictions on real estate ownership

Before starting the process of setting up a business, it is important to understand the restrictions on property ownership in Thailand for foreigners. In general, foreigners are only allowed to own a maximum of 49% of a property. The remaining 51% must be owned by Thai citizens.

However, it is important to note that even if Thais own the majority of the shares, as the managing director of the company, the foreigner may have full control over the company’s decisions and use of the property.

Choose the type of company

The first step to buy property on Thai company in Pattaya, is to choose the type of company you want to set up. The two most common types of business are the limited liability company (LLC) and the public limited company (PLC). LLCs are most common for small and medium-sized businesses. To set up an LLC, you must have at least two partners.

The LLC is a popular option for foreigners looking to create a company in Pattaya for the purchase of property. This option is often chosen because of it’s simplicity, flexibility and limited liability for the owners.

However, it is important to note that the process of setting up an LLC can be complicated and require the assistance of a lawyer or accountant.

Follow the steps for setting up a company

An important step in setting up your company in Thailand is to check the availability of your chosen name. You can do this on the Department of Business Development (DBD) website and provide a few alternative names in case your first choice is already taken.

It is also essential to create a logo for your company to be used on your official company stamp. Therefore, the stamp should include the logo, your company name in Thai and English, and the status of your company.

In addition to the logo, you will need to provide information on your Thai company’s objectives, capital, partners’ identities, your company address and a location map.

Remember that your company name is reserved for 30 days, so make sure you follow these steps as soon as possible to avoid any delays in the company registration process.

Cost and duration of a business start-up

Create a company in Pattaya to buy property can vary in terms of cost and time. On average, the entire process of setting up the business can take 10 days. But depending on how quickly you can provide all the necessary documents and the workload of the business registration office.

The total cost is usually around 23,000 baht. With our support, you can have peace of mind knowing that all procedures are carried out in a professional and efficient manner.

Support to buy property on company in Pattaya

Our teams work in partnership with qualified lawyers and accountants to provide a comprehensive service to our clients. Therefore, we can guide you through every step of the process so that you can set up your business with peace of mind.

In addition to this, we can also assist you with the purchase of your property in Pattaya, advising you on the various options available and helping you to make an informed decision.

Professionals Creating a Company in Pattaya

Opening a bank account

Finally, you should open a thaï bank account for your business in Pattaya. This will allow you to carry out financial transactions legally.

You can open a bank account with any bank in Pattaya. But you will need to provide the necessary documents to prove the legal existence of your business.

However, you should know that the opening of a bank account is not compulsory for a company creation as long as you do not exceed 2 million of capital.

Conclusion

In conclusion, although the process to buy property on company in Pattaya may seem long and complex, our experienced team is ready to assist our clients every step of the way. This way, to ensure that your company is registered and compliant with all legal requirements. Please don’t hesitate to contact us for professional adviceand assistance in purchasing your property in Thailand.

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