Category: Property
NCPO has tentatively agreed to impose inheritance tax in Thailand
There is currently no inheritance tax in Thailand but recent news is that National Council for Peace and Order (NCPO) has tentatively agreed in principle to impose an inheritance tax to reduce wealth inequities. It has been reported that the Ministry of Finance is looking at a graduated inheritance tax between 5 person and 30 […]
Disinheritance from a Will
The Civil and Commercial Code generally provides two categories whereby a testator may disinherit one of his or her statutory heirs from a will. According to Section 1608, the testator “may disinherit any of his statutory heirs only by an express declaration of intention… by will” or “by writing deposited with the competent official.” Furthermore, […]
Applying for a Land Allocation License
Property developers in Thailand who are planning to construct a housing community must first request a land allocation license from the Land Department. The property developer must file an application according to the Land Development Act of B.E. 2543 (2000) which requires the following evidence and details: The title deed or other document evidencing rights […]
New Mortgage Foreclosure Law in Thailand
The new amendments made to the Civil and Commercial Code announced on November 13, 2014 has made significant changes to mortgage foreclosure rules. In addition to the changes to Section 728 of the Civil and Commercial Code regarding enforcement of a mortgage debt, the amendments have also made major changes to Section 729 regarding foreclosure […]
New Mortgage Law in Thailand
A major problem with the Civil and Commercial Code was that it did not contain specific clauses that protected the rights of “indirect” debtors, such as guarantors or mortgagors who mortgaged their property to guarantee the debt of another. The new amendments to the Civil and Commercial Code announced on November 13, 2014 are designed […]
Thai Property: Easements, Servitudes, or Right of Ways
Due diligence is important to confirm all of the material facts in the purchase of the property. The most important is an actual physical inspection of the property through an independent surveyor. The legal documents relating to land or property in Thailand may be wrong. It is important to ensure that the title deed accurately […]
Right of Rescission under Thai Law
Under Thai law, in what situations are you allowed to rescind contract? In other words, when are you allowed to terminate a legal agreement without being held to be in breach? The Civil and Commercial Code has certain rules regarding when you are allowed to exercise the right of rescission: First of all, you are […]
Reference Guide for Corporate Buyers of Land in Thailand
The requirements and legal procedures involved in buying land in Thailand as a company (particularly with foreign shareholders) is quite complex. Siam Legal has therefore compiled this reference guide to help its corporate clients prepare the necessary documents and evidence required in order to avoid needless mistakes and costly delays when appearing before the Land […]
Property Purchase in Thailand: Why Due Diligence
There are many foreign investments which involve the purchase of real estate. Whether for business reasons, an investment visa, or a residence, the purchaser of the property must apply Due Diligence to the purchase of the property. A quick and smooth transactions sometimes causes the purchaser to overlook issues that will affect the ability of […]
Inheritance Tax in Thailand
On September 12, 2014, the new Prime Minister of Thailand, Prayuth Chanocha delivered his government’s policy statement to the National Legislative Assembly, which declared a new economic policy that shall instate an inheritance and property tax for Thailand within one year. A draft law for the new inheritance tax in Thailand has already been drafted […]
