SIAM LEGAL PROPERTY SERVICES |
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| THAILAND REAL ESTATE : BUYING LAND IN THAILAND |
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| STEP 1 : BUYING LAND IN THAILAND |
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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 |
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| STEP 2A : SETTING UP YOUR THAI COMPANY |
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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 |
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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 |
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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. |
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| STEP 3 : PROPERTY SERVICES IN THAILAND |
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| Thailand Your Second Home |
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You've probably heard some fascinating stories about expats who came to Thailand and invested in property. Each year many people come here to enjoy their holidays in the comfort of a second home, their most treasured property investment in Thailand. Many were smart enough to have anticipated the immense benefits of property investments in Thailand perhaps in their first or second visit in the country. They have made sound investments in Thailand in the form of property i.e. land, condo, villa or apartments and quickly reap rewards. This kind of investment acquires property for the purpose of affording you and your dependants the same convenience that your first home provides but during a vacation or for retirement a home away from home. See the online version here : Second Home in Thailand
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| Enviromental Laws in Thailand |
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Thailand is well known for its natural beauty. The country is blessed with long stretches of sandy beaches, lush tropical forests and evergreen hills. It is no wonder tourists from all over the world flock in their thousands each year to visit Thailand to soak in its natural splendor. This natural beauty is also the very reason we have seen a huge holiday property boom in the country, particularly in tourist hotspots where developers, both big and small, are establishing real estate projects to keep up with the constant demand. This exponential growth in places such as Phuket, Hua Hin and Koh Samui has inevitably experienced some detrimental effect on the natural beauty of the country's ecosystem. See the online version here : Enviromental Laws in Thailand.
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| Property Outlook in Thailand |
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Property investors have seen a very busy year in 2006 with new regulations issued by the Thai government affecting the property sector. Hopefully the dust will soon settle and we will have a clearer picture for the proper method of real estate ownership by foreigners in Thailand. Thailand has a broad base appeal to foreign property buyers with its pristine beaches, the amazing hospitality of the Thai people and the up-and-coming infrastructure.The demand will always be strong for affordable housing from retired persons and foreigners who desire a second home in the Kingdom. See the online version here : Thailand Real Estate Outlook
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| Sustainable Property Developments in Thailand |
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Thailand is well known for its natural beauty. The country is blessed with long stretches of sandy beaches, lush tropical forests and evergreen hills. It is no wonder tourists from all over the world flock in their thousands each year to visit Thailand to soak in its natural splendor. This natural beauty is also the very reason we have seen a huge holiday property boom in the country, particularly in tourist hotspots where developers, both big and small, are establishing real estate projects to keep up with the constant demand. This exponential growth in places such as Phuket, Hua Hin and Koh Samui has inevitably experienced some detrimental effect on the natural beauty of the country's ecosystem. See the online version here : Sustainable Property Developments
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Usufruct is a legal property right which is rich in history. Pronounced yu-ze-frukt, it is another civil law concept which may be quite foreign to those more accustomed to common legal systems. The term comes from the Latin terms usus et fructus which is literally translated into ‘use and enjoyment'. Like most civil law concepts, the term derives from ancient Roman law. In most of today's civil law environment, it is defined as the legal right to use and derive profit or benefit from property belonging to another person. Thailand has adopted this same principle in its Civil and Commercial Code where it is codified. See the online version here : Usufructs in Thailand
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| Planning a Real Estate Development in Thailand |
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Property development is a complex business process and like all businesses, proper planning is essential. Unlike other businesses, property development involves many intricate steps and solid financial management. Property development often brings to mind stories about rags to riches. Sometimes, it is even seen as the ticket to our early retirement. However, property development is certainly not for the faint hearted and requires just as much effort, if not more, as any other businesses to yield a healthy turnover. The good news is though, with good planning and a healthy dose of hard work, a property development can indeed produce a very profitable income for the developer. See the online version here : Real Estate Development in Thailand
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