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Originally Posted by osamalee
Any bros here have experience buying property or renting shophouses in BKk?
How to ensure it can be under my name, what kind of taxes i should be aware?
Are foreigners able to rent shophouses legally and operate business? I know of 'territory' issues but thats more of less not my concern at the moment hmmm
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From what i know, shophouse u cannot buy but can lease up to 30 yrs.
However, if u wanna operate a business u'll need a local partner of shareholder holding at least 51% ownership. U can never be a majority shareholder unless u investing in new business areas which the thai govt is promoting. Like biotech, IT, etc.
For leasing, u will enjoy the ownership rights same as an owner during the leased term. But liability will also be yours (like min maintenance or safety standards to meet), and u do not have the rights to sell the property because u are not the owner. Owner also do not have the rights to take back or sell the property during that period because it is being leased away.