Myths VS Reality about Thailand

1. The first and most popular myth:

This is an ASIAN country! So…

And then – underline what is necessary. Here, fantasy and your own internal attitudes give rise to an incredible variety of stereotypes

• backward economy,
• locals unfriendly to foreigners,
• a completely different mentality,
• traditions alien to us,
• the sole power of the monarch.

❗ But if you dig deeper or, even better, turn to official sources, it turns out that:

✅ the London Post has compiled a list of the 20 best countries for investment in 2020 and Thailand took (attention!) SECOND place.

✅ local residents, as in almost all popular tourist locations, may not be very happy with the influx of foreigners into their territory. This is logical and natural. But there are no and cannot be any special problems with the locals if you follow the law. This rule applies anywhere in the world.

✅ Thailand is a monarchy, but it is quite constitutional. Like, for example, Great Britain. And the king here is more of a symbol than a real power.

✅ The Thai government is too interested in foreign investment to undermine the country’s reputation with political upheavals.

2. The second common misconception:

You can’t buy property in Thailand.

It’s hard to say where this myth comes from. Perhaps it comes from the same story about the monarchy and the king’s total power.

Yes, the royal family certainly owns a lot of property. How could it be otherwise? But this is far from all the land in the country.

❗ For more than 100 years, the right to private property has been recognized in Thailand as one of the foundations of the democratic system.

Perhaps the misconception comes from the fact that in Thailand it is indeed prohibited to transfer land to foreigners. But this does not apply to real estate in any way.

❗ According to the law, a foreigner can buy up to 49% of the living space of a building.

In fact, if you wish, you can purchase half of an apartment building for personal use on completely legal grounds.

3. And the third myth:

Taxes. There is an opinion that Thailand has huge, unaffordable property taxes. It is difficult to say what caused this misconception.

❗ But we authoritatively declare that there is NO property tax in Thailand.

This is again due to the efforts of the authorities to create the most favorable investment climate in the country.

It turns out that investing in real estate in Thailand is an absolutely mutually beneficial story.

You are interested in Thailand, and Thailand is interested in you.