This chapter is divided in two sections:
Land Purchase and House Purchase
Thai law stipulates that a foreigner may not own land in his name, he has the right of ownership of buildings only. If a foreigner wishes to purchase land to build a property he has 2 options:
The land is purchased on 30 year leasehold, with an option to extend the lease for two further 30 years periods. Possession of the land is assured by virtue of the fact that the property occupies the land. The lessor cannot seize the property upon expiration of the lease, as the property is separate from the land.
If a foreigner is going to operate a business in Thailand then he may purchase the freehold of the land through his Limited Company. The land will be owned by the Company, not the individual.
Even recent amendments that allow a Thai spouse (male or female) of a foreigner to buy land require proof that the money used in the purchase of freehold land is legally solely theirs with no foreign claim to it.
You will own the building freehold and together with a well constructed land leasehold contract (a 30 year lease with two prepaid 30 year renewals) plus a purchase option for the land (that could be exercised in the event the laws of foreign ownership changed - or you sold the property on to a Thai person or legal entity) you will have effective ownership, yet still remain within the laws of Thailand.
Let us take over your cares, whilst you enjoy your
tropical living residence in paradise.
We are committed to serving you with expertise and dedication