Lawyers for Expats Thailand

There are strict laws about foreign ownership of property in Thailand.

Lawyers for Expats Thailand specialize in providing legal and safe solutions for foreigners investing in property in Thailand

Landed property refers not only to the land , but also to landed houses, townhouses, bungalows, or villas– in other words, land with a building on top of it.

 

Thailand laws governing foreign ownership of landed property, forbid titling any land in the name of a foreigner.

 

With few exceptions, it best to accept this as fact:  if you are a foreigner, you are not allowed to own land in Thailand.

Many people try and circumnavigate this law by using nominees or setting up companies. 

 

Buying Villas  by setting up a Thai company with the foreigner on .

For a foreigner to set up a Thai company for the sole purpose of property ownership is forbidden and is against the law.

There are restrictions in Thai law which prevent foreigners from owning landed property (unless the land has been split from the building or house/villa).Foreigners must accept that if they attempt to circumnavigate the law there are risks and consequences.

You would have no doubt seen the latest news where property is being taken back for the use of nominees or proxy companies.

We have a unique solution without the use of nominees, proxy company or need to set up a  company.

Our solution follows the law and is safe and can be used as part of a BOI lTR visa application.

To discuss this in detail call us for a Free Consultation on +66956583038

 

A common way that people try to use to circumnavigate the law is for a foreigner to set up a Thai Company Ltd.

Unless the company is run as a legitimate business and trades and pays tax this is illegal. This means they must generate revenue and have proper Thai shareholders (nominee shareholders in Thailand are illegal). The Thai shareholders must be legitimate investors, as well as interested parties who have a say in running the company. A foreigner may not own more than 49% of the shares.

So, in reality setting up a Thai company for property ownership does not stack up as you will only own 49 per cent of the company and property anyway.

There are also a number of complications when coming to sell property owned by a Thai company.

 

 

 

Lawyers for Expats Thailand will be able to advise you on the legal way to secure your investment in property in Thailand. Note that if the lawyer/accountant of the seller or company that will support your work, suggests that you cut corners on any of the above, you need to speak to lawyers for Expats Thailand

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Why not considering a leasehold?

Leasehold is an arrangement whereby you are effectively renting a property (long-term) from the actual owner (who is themselves the “freeholder"). With very few exceptions, any foreigner in Thailand who wants to own landed property (e.g., a house or a villa) is instead restricted to a lease, which currently can not be longer than 30 years although it can be renewed if careful safety guards are put in place.

Speak to lawyers for Expats Thailand they can assist on the correct type of lease to suit your situation.

 

As a lessee, the foreigner is given “exclusive possession” (the right of undisturbed possession), meaning they may use the property as either a home or a rental property for the duration of the lease.

 

 

Every lease must be registered at the local Land Office, and once this is done the lease agreement acts as lien against the title deed. This makes the legal standing of a foreign lessee more secure than that of a foreigner using an illegitimate Thai Company.

 

We can make a legally binding agreement that secures your property investment.

 Many promise upon expiry of the initial lease term, the lease will be renewed for a further two 30-year terms, effectively making the lease term 90 years (often referred to as 30+30+30). Although under Thai law these renewals are not legally binding and are not legally enforceable.

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The market is flooded with property being sold to foreigners so how are they doing it?

Is it being done legally or illegally?

We often hear everybody is doing it so its ok.

Or my friend bought it this way and everything was fine.

Just because many people are circumnavigating the law it doesn't make it ok or safe.

Many people have purchased property in Thailand and not followed the law and so far nothing has happened this is correct.

The problem only comes when there is a problem or challenge.

If you have not followed the law you could lose your investment.

Here is an example of just that a foreigner bought two houses through a Thai company that they set up for the sole purpose of owning the land and house.

During divorce proceedings from his  wife the lawyers for his wife pointed out that the properties had been purchased unlawfully  and ordered them to be sold in accordance with Thai law.

He had also sold one of the properties illegally as technically they were not his to sell as his wife was claiming them as matrimonial property and he also did not have her permission to sell them.

He was now in a heap of trouble and faced criminal charges.

The divorce settlement went against him and he lost the remaining property and was lucky to not go to prison.

We have seen people lose their investment for not following the law.

We have successfully retrieved property that was purchased legally and have secured many properties the legal way.  

 

It is important that Thai laws are followed and adhered too.

Lawyers for Expats Thailand hear of many stories where people try to circumnavigate the law to protect their investment and by doing so break the law.

If you work outside of the law how can you be protected by it?

A nominee arrangement is illegal and you face imprisonment and losing your property.

Setting up a company for the sole purpose of a foreigner owning property is also illegal.

Lawyers for Expats Thailand follow the law and provide legal solutions that offer our clients peace of mind and security and protection.

Lawyers for Expats Thailand have helped many foreigners secure their investments by following the law.

Lawyers for Expats Thailand specialize in property law and have the knowledge, expertise and experience as a property lawyer in Thailand.

Thinking of buying land in your wife's name?

Then contact us we can help secure this and ensure that every measure is taken to secure  your investment.

There are a number of important factors to take into account and safeguards to put in place.

We have thought of every eventuality and will ensure that you are covered legally.

Lawyers for Expats Thailand provide a number of layers of protection and security for their  clients and have adopted a belt and braces philosophy to ensure their clients investment can stand the test of time and scrutiny.

Are you considering buying from a developer?

There are many things to consider,

Do they own the land? What are the terms of their sales contract?

What if the company goes bust how will this affect you?

Our property lawyer will complete  due

diligence and ensure that the correct sales contract and service agreement and accompanying documents

are put in place to have you covered.

For the best property lawyers in Thailand contact Lawyers for Expats Thailand today.

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