Are you a natural or juristic person?

Under the Civil and Commercial Code of Thailand a juristic person enjoys the same rights and is subject the same duties as a natural person.

The Alien Business Operations Acts and Section 97 of the Land Code provide that alien person includes a juristic person with half of the shares constituting its capital held by alien. Therefore, a company has the same rights as a Thai Person.

Under Section 1144 of the Civil and Commercial Code, every limited company shall be managed by a director or directors under the control of the general meeting of shareholders and according to the by-law of the company.

Tax aspects

A company is liable to corporate tax only if it makes profit from the business in any fiscal year. A dormant company will not pay any tax but the returns and the balance sheet have to be filed as usual, once annually for the balance sheet and twice for tax returns.

There is no property tax on your property if you keep the property for your own use and not for commercial purposes.

Mortgage

Foreigners are entitled to acquire mortgages in their favour as collateral for financial support to Thais. There is no period limit on such mortgage. Again, the mortgage fee is 1% of the amount involved.

If you are purchasing property in Thailand and you want to pay in Thai Baht ensure that your funds are transferred into Thailand in foreign currency and converted to Thai Baht here.
The reason for this is that the receiving bank will issue a Thor Tor 3 Certificate confirming the transaction.
 
The relevance of the Thor Tor 3 Certificate is that it is one of the documents you will need in the future if you wish to repatriate funds without incurring tax penalties.

Also, be aware that Banks will only issue Thor Tor 3 Certificates for individual inward transfers exceeding 10.000 US. Repatriation of investment funds and repayment of overseas borrowing in foreign currency can be remitted freely upon submission of supporting evidence.

One of these documents would be the Thor Tor 3 mentioned above, or in respect of a foreign currency loan, the loan contract. Remittance of funds without proper documentation could be regarded as income and become liable for lax.

Most real estate agents and property developers in Pattaya prefer to simplify the process by allowing you to purchase your property in foreign currency. Your money is usually transferred directly into one of their offshore accounts. They will set up the freehold for you directly on remittance of this money.

When the time comes that you wish to sell your property you simply sell it on, in foreign currency.

True land title deeds are officially called Nor Sor 4 Jor or more commonly "Chanote" and are issued by the Pattaya Provincial Land Office. Land held under Chanotes are accurately surveyed and GPS plotted in relation to a national survey grid and marked by unique "numbered" marker posts set in the ground.

All land purchased from the company is issued with chanute land titles.