Buying Land

STEP 1 : BUYING LAND IN THAILAND

Thailand Real Estate has taken off in the past decade or so with more and more foreigners wishing to live in Thailand and making Thailand their second home. Many wish to own land here but before taking this step it is important to always use, firstly, the services of registered lawyers in Thailand and, secondly, reputable estate agents when buying land. It will be helpful to check the Thailand Real Estate Outlook , the glossary of Real Estate Terms and the Real Estate FAQ before you begin your search for land in Thailand be it a house in Bangkok , Pattaya, Phuket or Hua Hin. Be fully aware that many of the problems that do arise from buying land in Thailand can be avoided early on in the property search. You might need to read the Real Estate pitfalls in Thailand before going out on your search. In Thailand they do not use Western measurements for land. Use our online calculator to Convert Rai and Convert Rai to Square Meters

STEP 2A : SETTING UP YOUR THAI COMPANY

Once you have decided which land you are going to purchase, always consult a lawyer before signing any documents. Foreigners may not own land in their name; however their Thai registered company may own the land. There are different forms of business entities in Thailand . The most commonly used is a Thai Limited Company . There are certain business registration criteria which must be met when incorporating a limited company. The Thailand Amity Treaty is also still in existence for Americans to do business in Thailand , however this type of structure cannot own land.  There are also tax considerations so check the Corporate Tax in Thailand if you are going to do more than own a house or need a Thai Work Permit .

STEP 2B : ENGAGING ON A LEASEHOLD INTEREST

Buying Thai real estate under a leasehold interest has been continuously growing over the years. It is a very popular way for foreigners to acquire property in Thailand , and one method is through leasehold villa investment . It is a favored alternative because it is simple and straightforward. Foreigners can obtain full interest on a lease in Thailand for the specified time. This differs from purchasing through a limited company where you have several shareholders who may have interests that are different from yours. However, the maximum lease term is 30 years with options to renew for an additional 30 year periods depending on the agreement. You can also transfer the leasehold interest or even sell it the same as you would for any other freehold title conveyance in Thailand .

STEP 2C : MARRYING A THAI

A foreigner can marry a Thai and purchase land as a couple. Nevertheless, the land or property must be registered under the name of the Thai spouse. The married couple may be asked to sign declarations at the Land Department stating that the funds used are the separate property of the Thai spouse. This means that the non-Thai spouse is waiving any claim on the land or property. There is a certain disadvantage though, which surfaces during a divorce case. The non-Thai spouse needs to prove that the land is classified as marital property which can be difficult. There are basic guidelines that the law provides in the management of matrimonial assets and in this case, a skillfully drafted prenuptial agreement may help to minimize the risk to the non-Thai spouse.

STEP 3 : PROPERTY SERVICES IN THAILAND

Once we registered your Thai Limited Company we do the following amongst other property services . We would do a title search and check the contracts before signing.Also note the type of Title Deeds in Thailand . . There is also the cost of transfer for your land and Thailand property taxes . Use the property transfer calculator to check your fees payable. See the compressed version on buying real estate and the common property problems .