Know your Condo Law!
by admin on Mar.09, 2010, under Real Estate
A condominium is an apartment structure in Thailand is a multi unit building registered under the Thailand Condominium Act in which each unit is owned separately by the people living in it, but also containing shared commonplace areas. Condos in Thailand are regulated in the Condominium Acts and registered with the Thailand Land Department. Each condominium unit has a condominium unit title deed. This certificate states the owner of the unit, the exact area, voting right in the condominium juristic person’s meeting and if there are any third party rights registered against the unit such as a lease or mortgage. The unit title agreement is an important document officially administrated at the local land office where the condominium is located.
Non-natives are under the Thailand condominium act allowed to own condominium apartment units (condos) freehold in Thailand. There is after all one restriction which aims to limit foreign freehold ownership of condos in Thailand; not more than 49% of the whole floor area of all units in a condominium building combined can be foreign owned. In case of 100 even units 49 can be foreign owned, the other 51 must be owned by Thai citizens.
The units in a condominium project exceeding the 49% foreign freehold ownership allotment may be sold under a registered leasehold to non-natives. There is no restriction for foreigners renting or leasing real estate in Thailand. The arrangement for hire, sublease or rental surpassing 3 years must be registered in the foreigner’s name on the condo unit title deed.
The main condition under the Condominium Act for the purchase of a freehold condo by a foreigner (non resident) in Thailand is that the full purchase price for the condominium unit (which may not be less that the appraised value) for the condo unit must have been remitted into Thailand in foreign currency (see current exchange rates Bank of Thailand). The handling bank in Thailand must transfer the amount of foreign currency into Thai baht and will issue a Foreign Exchange Transaction form for amount exceeding 20,000 USD or for lesser amounts a credit note and confirmation message of the transferred amounts on request. Without confirmation of remittance of the full purchase price into Thailand in foreign currency the land department cannot register ownership in the foreigner’s name.
Is shared hosting right for you?
by admin on Mar.09, 2010, under Computers & Internet, Web Hosting
One of the more popular types of web hosting is the affordable shared web hosting choice. If you are a power user that wants complete control, this is not the hosting for you but for users that does not fancy to deal with any set-up management it just might be the perfect hosting. Shared hosting most usually includes an user-friendly control panel, with cPanel being the most appreciated and well-known.
A great lot of the today effective hosting providers, ranging from small establishments to the bigger players on the market, offers some form of shared hosting. This type of web hosting is funded in two different ways. It can be driven privately by way of letting the consumers split the tariffs of running and maintaining a server. The other way it can be driven is via affiliate programs and PPC advertising.
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Most shared hosting packages comprise of plenty of disk storage, limitless traffic and free traffic. There has been some talk surrounding shared hosting not being reliable but we find that to wholly not be true. A particular tremendous thing about hosting is that it is often easy to let it become larger at the same speed as your website. Simply widen your hosting when it is required.
