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Real Estate

The Thai property market is a desirable location for a first or second home.  Thailand also allows for a certain ratio of foreign ownership in designated condominium developments thus making this an attractive investment opportunity for expats.

We can assist on the buy or sell side for condominiums and advise on structuring options for investment in Villas and Land. Our assistance in this area includes the following:

Land Due Diligence

Buying real estate involves a significant financial investment, making it essential to conduct thorough due diligence. This process involves verifying the legal ownership of the real estate, examining any existing debts, checking zoning regulations, and obtaining all necessary permits and licenses.

Company setup and structuring

Owning land in ASEAN can be complicated for foreign investors. Therefore, having an understanding on what options are available from an ownership structure is imperative . In particular, in Thailand, a company majority owned by a Thai national can own land and therefore understanding the structure of this company vehicle is required to ensure the foreign investors rights are safeguarded.

Land long-term leases

One form of ownership of protected real estate, such as land, can be in the form of a long-term leasehold right. This is mostly seen in Thailand in developments in Phuket and Koh Samui and usually will resemble an initial 30 year lease term, with two additional 30-year lease terms that automatically renew. A buyer of a long-term lease will pay the full lease upfront upon signing, and consulting a lawyer is strongly suggested, as there is a high-level of real estate fraud associated with these types of relationships.

Registration of long-term leases, and foreign ownership in condominiums

A lease of over 3-years requires registration in Thailand for legality purposes. The registration essentially protects the long-term lessee against any third parties asserting an ownership interest in the land or villas.

In Thailand foreigners are allowed to legally own freehold status in condominium projects. The condominium project is permitted to sell up to 49% of the condominium to foreigners. It is advisable to contact a lawyer to check on whether the foreign ownership ratio is available in a desired condominium project.

Sale and Purchase Agreements

A purchase of any real property right or interest will require a sale and purchase agreement that will detail the purchase price and the terms of handover of the property to the buyer. Whether you are on the buy or sell side, a legally binding sale and purchase agreement is required and Legal ASEAN is well equipped to assist you.
Unlock Seamless Real Estate Success with Us
Trust your real estate transactions in Thailand to us for unmatched local insight and dedicated support. Our customized solutions guarantee not only the success of your transactions but also their long-term value, ensuring alignment with your investment objectives. Bypass potential pitfalls with Legal ASEAN’s complete real estate services, ensuring a seamless, clear, and efficient property journey in Thailand.

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