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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
Company setup and structuring
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.