As never before, Thailand's property market is only booming. After we spent six years in Thailand and we collected a list of questions from potential investors of all kinds. Most of the responses are based on real life experiences, with open and honest Thai laws in mind. We will give you the answers and you will draw your own decision to buy Thailand property. Can I have an estate in Thailand here?

While the law does not permit foreigners to own land in Thailand, they can own the buildings on the property. There is, however, exception: if the Board of Investment (BOI) has rights and the property is a part of (usually production) the foreign company is entitled to buy land. The property is solely bound by the company's BOI terms and conditions. The new law requires a foreigner to buy up to one Rai, (Land Code Section 96, 2002). Strict laws on land ownership by aliens also applies to companies and associations. A foreigner can own only up to 49% of the company, which also limits land ownership. Even if you use a experienced Immobilien Lawyer like CMS Law Associates Co., Ltd, a company with an ownership of 51/49% is often difficult. Leasehold: Thai law allows a fixed term of lease of 30 years and can be extended to another 30 + 30 years. Leasehold: All parties shall report the renewal with the Land Department at the end of each term of office and pay fees for government, including stamp duty. It requires the property to be owned by the leaser.

The downside is that in the future the lower house may not want to renovate or the legislation can change to you. Consequently, any money you invest in leased property may be lost. Moreover, it is not easy to trade rented land. Applicant: You may appoint a Thai to own your house. Not recommended, definitely. Appointed with a mortgage: under a valid mortgage or loan agreement, the cost of the property can be loaned to a Thai individual. A small fee is paid for registration at the Land Office. The advantage is that until the mortgage or credit has fully been repaid, the person who is nominated can not sell the property. If the foreigner dies first the mortgage or loan is completely discharged and the Thai individual will inherit the land. The lawyers should also set up Last Will before they set up a contract. If the Thai candidate first dies, the stranger may inherit the land, but within 12 months, they must sell it to a Thai.

In order that future problems for executors and beneficiaries are avoided, foreign buyers in the country should always write a new will. Freehold: Many people can purchase and own Freehold condominiums, which grant you total ownership rights for your condominiums to buy, sell, exchange and legacy. Nevertheless, the law states that only 49% of any condominium building can be owned by foreigners. When purchasing a house, ensure that your lawyer inspects this. A document from the Legal Administration office indicating that a condominium is free of debt shall also be provided by the seller. Company Ownership: A highly recommended way to buy and own property is by setting up a company when buying a house, land, or other property that is not a condominium. A professional immobilizer lawyer will help you do this, ensuring that your Thai partners are free to manage the property.

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