Professional services for foreign condominium investors and sophisticated condo developments
PUGNATORIUS Ltd. is the Bangkok-based specialist provider of transactional legal and tax advice on foreign investments in Thailand’s manufacturing and service industries as well as property developments and acquisitions. Thailand’s condominium market is one of the main drivers of foreign investments in the land of smile. The law firm assists buyers of condominium units who intend to lower their risk profile of an investment in this asset class, especially under more difficult conditions, which is increasingly the norm.
Developers: On the developer’s side, condominium developments require more and more additional features to be marketable to foreign investors. While the portion of condo purchases for self-consumption decreases, structured condominium developments gain in importance. Rental guarantees, timeshares, and fractional ownership models require sophisticated legal project management to avoid the barriers of Thailand’s foreigner legislation, the consumer protection laws and even the reclassification of the structured investment scheme as an illegal sale of securities.
Support and legal assistance for seven professional condominium services
PUGNATORIUS Ltd. advises and assists mainly in these seven areas:
#1. Acquisition of condominium units: PUGNATORIUS Ltd. provides comprehensive professional services in the acquisition of condominium units, mainly for foreign investors. This covers base cases, off-plan cases, novation cases, resale cases, and second-hand cases. The law firm is familiar with rental guarantees, fractional ownership schemes, short-term rental restrictions and other marketing support measures that are offered to foreign prospective buyers. PUGNATORIUS Ltd. offers a package of legal services, tailored made-to-measure for the specific condominium acquisition under a flat fee consultancy agreement. This is further explained here.
#2. Condominium due diligence: The law firm accomplishes – in the course of a condo unit acquisition or on a stand-alone basis – comprehensive condominium due diligence examinations.
#3. Development of condominium projects: While the condominium bubble is the talk of the Bangkok town, innovative and tax-efficient structures gain on importance. The law firm advises on rental guarantee schemes, timeshares, and fractional ownership models, as well as protected structures which take benefit from the possibilities of the Condominium Act and the underlying regulations.
#4. Condotel projects: A condotel is the smart concept of a mixed-use property development and also known as condo-hotel, hotel-condo, condotel or (in American English) as contel. The law firm advises in the combined structuring of hotel and condominium projects.
#5. Massive investments in condominium units: The mass acquisition of condominium units is a reasonable tool for funds looking for a safe investment haven. This can be offshore money which is no longer accepted by offshore banks or cryptocurrency wealth.
#6. Litigation and representation of interests of condo buyers: Off-plan property, as well as other real estate transactions, are one of the law firm’s areas of competence, long-standing experience, and unique market reputation. Details at “Civil litigation as a continuation of sophisticated legal advice with other means“.
#7. Legal opinions and property investment reviews: The law firm provides particular transaction support and legal opinions on condominium developments for buyers, sellers. developers and other participants.
Each case is different. Telephone inquiries and ad-hoc email requests on Thailand’s legal and regulatory framework without details and documentation are not accepted by the law firm. Individual support and professional advice are available under a paid consultancy agreement only.