Your Destination » Real Estate http://www.yourdestinationthailand.com Everything is coming your way! Fri, 27 Aug 2010 06:54:33 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Where are the best places to retire? http://www.yourdestinationthailand.com/05/where-are-the-best-places-to-retire/ http://www.yourdestinationthailand.com/05/where-are-the-best-places-to-retire/#comments Fri, 07 May 2010 16:52:04 +0000 admin http://www.yourdestinationthailand.com/?p=35 Retiring in Thailand is becoming more popular as more people are looking to make their dollars and Euros stretch in their golden years. I hope to spark some ideas in your thoughts and maybe you’ll start to reckon Thailand as a wonderful retirement target for you.
I’m no master in this area, but I do have truly a bit of acquaintance. Nevertheless I am quite a some years before my own retirement (I’m only 40 years old) I have been researching Thailand superannuation because I arrange on eventually ending up there. I’ve found there are quite a few things one requires to think about if they want to finally retire and go to Thailand.

Here’s a list of the issues that I’ve come up with regarding making the jump to retirement in Thailand:

Where will you reside – Depending on your lifestyle and the things you like you have a good selection of places to retire in Thailand. Those looking for more cosmopolitan excitement will want to opt for Bangkok or Chiang Mai, while those looking for a more laid back lifestyle will be looking more towards the provinces of Thailand or even one of the beach destinations like Phuket or Samui. The fine thing is Thailand offers several unlike choices in lifestyle and I’m sure one will fit you.

How much money will you demand – If money isn’t a consideration then no need to worry about this. If however you think you’ll have fixed income during your retirement you’ll doubtlessly want to go for places that are more off the beaten track like the northeast of Thailand (known as Isaan) or some of the more distant beach locations. Even Chiang Mai can be affordable compared to the U.S. and Europe. Those of you looking to retire to Bangkok should assumably have a bit more superannuation income since the Big Mango can be quite expensive if you want to enjoy it fully.

Issues of Thai visas – The visa issue is a major one since you certainly want to be legal while you’re a visitor in Thailand. Fortunately for those over 50 the visa issue is quite simple. Retirement visas are available and they are both affordable and easy to get. If you’re under 50 it becomes more complex and you’ll need some reason such as work or family to keep you long period in Thailand.

Program for the hereafter – Obviously as you age your requires will change. Inflation will also eat into your retirement in Thailand just as it would in the west. Health care turns more essential as well. Consider your needs 20-30 years from now and have a plan before moving to Thailand.

Insurance – Will your latest assurance cover you abroad? If not then you’ll want to make agreements. Healthcare is readily 1/3 the cost in Thailand as it is in the west, anyway it will still be expensive if you have a principal health emergency.

Buying vs renting in Thailand – While renting drains your assets without adding any equity it is still the perfect choice in Thailand. Owning real estate is not a potentiality in Thailand (well not easily anyway) so renting is your only alternative in several cases. Are you able to inhabit with this or do you need to be able to own your own location be it house or condominium.

While not comprehensive by any means that’s at least a quick run down on deliberations for retiring to Thailand. There are apparently more things to think of, but total in my viewpoint there is no place like Thailand. If you’re looking for adventure and unique living in your retirement then I strongly recommend you give Thailand a thought.

]]> http://www.yourdestinationthailand.com/05/where-are-the-best-places-to-retire/feed/ 0 Know your Condo Law! http://www.yourdestinationthailand.com/03/know-your-condo-law/ http://www.yourdestinationthailand.com/03/know-your-condo-law/#comments Tue, 09 Mar 2010 17:46:43 +0000 admin http://www.yourdestinationthailand.com/?p=7 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.

<…Sources…>

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