admin
5 months ago
Selling a condo to a foreigner does have some regulations or additional fees due to the complexity like the Foreign Quota which we are gonna go into in detail in this article.
YOOHOO is willing to help you guys out of nowhere by providing all this specific information as a walkthrough guide accordingly.
1.Preparing for the Buy-sell contract documents and also the proof of evidence related to that. At least two real documents are required, one for the seller and another one for the buyer.
2.Receiving the transferred money from the buyers should be via an international transfer only, along with proceeding all the procedures with the bank in order to get the evidence of financial statement and the Foreign exchange transaction form.
3.Preparing for the Foreign Quota validation form and also the tax exemptions, which you can request for those two documents directly from the juristic person department.
**Foreign Quota: Every project does have the quota for the foreigners, meaning that the foreigner can own properties just only within 49% of the total properties in each project.Thus, further inspection should be done in order to see if it is still possible to sell those properties to the foreigners or not.
4.Bringing all the prepared documents from No.1-3 items to transfer the land ownership to the Department of Lands.
Required documents for all foreigners to transfer the land ownership:
Just in case of the transfer of the power of attorney, the power of attorney is in need, which should be approved under the Department of Lands only. Also, in addition, a copy of your ID card and household documents are also required.
Additional documents: only for the foreigner who already got married.
After preparing all the documents, YOOHOO hopes that everyone will be able to sell houses and condos as you expected. If anyone wants to sell your own property but doesn't know where to go to sell it, You can sell it at YOOHOO for free.
