Can a foreigner own a hotel in Thailand?

Can foreigners buy hotels in Thailand? Foreign individuals cannot invest in hotels as we are only allowed to own strata-title units, which are predominantly in condominium projects. This generally requires that you apply for a Foreign Business License (FBL) if foreigners own more than 49\% of the shares.

Can I own a hotel in Thailand?

The only kind of property which a foreigner is allowed to own is a condominium in a block wher 51 per cent or more of the units are owned by Thais. You may establish a private company which can buy and operate a hotel, but you cannot own more than 49 per cent of the company.

How much is a hotel license in Thailand?

There are four different types of hotel licenses: Hotel and restaurant business: application fee of 20,000 THB. Hotel, restaurant and seminar rooms: application fee of 30,000 THB. Hotel, restaurant, seminar rooms, entertainment business: application fee of 40,000 THB.

Is hotel business profitable in Thailand?

According to the October 2020 report from Hotstats, the benchmarking company, Thailand’s hotel profits were wiped out in the first 10 months of 2020, as Gross Operating Profit Per Available Room (GOPPAR) fell from US$58 per available room to break-even.

Can I buy a property in Thailand?

Foreigners cannot buy land in Thailand, only condominium units and apartments. However, a foreigner can buy a whole building, minus the land on which it is built. In recent years, minor changes in Thai law have allowed nonresidents to explore the Thai real estate market.

How much is property tax in Thailand?

It is to be stated that there is no general annual property tax in Thailand, but if individual owners rent out or put their property to commercial use, housing and rent tax is imposed at the rate of 12.5\% yearly.

Can a non Thai own property in Thailand?

Are Foreigners allowed to own land in Thailand? Generally, foreigners are not allowed to directly purchase land in Thailand. Simply put, Thai laws prohibit foreigners from owning land in their own name, although theoretically there is an exception but it is yet to be seen in practice.

Is it safe to buy property in Thailand?

There are restrictions in Thai law which prevent foreigners from owning landed property. This includes not only parcels of land, but also landed houses or villas. Foreigners must accept that if they attempt to circumnavigate the law without the proper legal advice there are risks involved.

Is buying property in Thailand a good investment?

Purchasing Thailand property as an investment is also a good choice because the country has seen a steady increase in property prices as demand continues to stay strong. The country remains consistent in its development, with modern road networks and connections to main industrial and commercial centres.

Can foreigners buy land in Thailand?

Foreigners cannot buy land in Thailand, only condominium units and apartments. Foreigners cannot make up more than 40\% of the condominium’s unit-owners.

How much does it cost to register a property in Thailand?

When the requirements have been satisfied and approved by the Registrar – usually after five working days – you will have to pay an official fee of THB50 (US$1) for every THB100,000 (US$2,857) of registered capital. The minimum is set at THB500 (US$16) and the maximum at THB25,000 (US$714).

What are the best landed property titles in Thailand?

The best landed property titles are “Chanott ti din”, i.e., title deeds with land accurately surveyed, giving incontestable possession of the land. The most developed areas of provinces have such titles. However most of Thailand does not, and even in Phuket, for example, only 10\% of the land is under this title.

How to register a company for VAT in Thailand?

A tax identification card and number must be obtained for the company from the Revenue Department. Companies earning more than THB600,000 (US$17,143) per year should also register for VAT. Registration fees amount to about THB200 (US$6) for Affidavits and THB700 (US$20) for MoA and AoA.