| Purchasing a condominium in Pattaya is actually a | | | | Leasehold : means you will never own the |
| clear and straightforward process. However, there | | | | property. You will merely lease it from the land |
| are a few things you need to be aware of before | | | | owner. |
| you start. | | | | Freehold : gives you full ownership rights. |
| Foreigners can own 49% of the aggregate unit | | | | Obviously, freehold is much better. |
| space in a building. | | | | One Rai : is equivalent to 1,600 square meters |
| For foreigners to be eligible to purchase a | | | | One Wa : is equivalent to 4 square meters |
| condominium in Thailand they must present proof | | | | Why Invest in Pattaya and Jomtien? |
| (Tor Tor 3) to the Land Department that the | | | | - Established Tourism destination in Thailand |
| funds have been remitted from overseas in | | | | - Great beaches and Islands |
| foreign currency. Without such proof the Land | | | | - Proximity to Bangkok and the new International |
| Department will not permit the transfer of | | | | Airport. |
| ownership to the foreign buyer. | | | | - Wide-ranging connections by air, by road, and via |
| Please note the following for the financial transfer: | | | | Laem Chabang deep sea port |
| 1. Transfers of funds must be made in foreign | | | | - Booming high quality residential property and |
| currency only and not in Thai Baht. | | | | luxury housing market. |
| 2. Remittances must be sent in to your bank | | | | - Great general infrastructure: health, medical, |
| account in exactly the same name as that on the | | | | shopping, international education, roads, |
| purchase contract. | | | | telecommunication, utilities and services |
| 3. Amounts transferred must be more than | | | | - Choice resort for many foreigners and buyers |
| $20,000 in order to obtain a Tor Tor 3 form. | | | | - Nearest main weekend holiday destination for |
| 4. The purpose of the remittance must be stated | | | | Bangkok residents |
| on the remittance advice. This should be "For the | | | | - Pattaya is the beating heart of Chonburi |
| purchase of a condominium" | | | | province |
| 5. Be sure that the developer or seller sends you | | | | - Chonburi is the fastest growing province in |
| a copy of the Tor Tor 3 for each of ;your | | | | Thailand for tourism and business. |
| remittances. If you do this, it will avoid future | | | | However, If you can't afford to invest in the |
| problems. Make sure that the Tor Tor 3 has been | | | | property in Pattaya right now, you can come and |
| issued correctly. | | | | take a look and survey first to see its feasible of |
| One reason for the Tor Tor 3 form is so that | | | | your future investment. By staying in the |
| you can remit the money back out of Thailand | | | | apartment or guest house will save you cost |
| when you sell. | | | | rather than staying in the hotel. |
| Remember the following terms: | | | | |