At this moment in time, foreigners can achieve property ownership in the following proven and effective ways under Thai law.

If purchasing direct from land developers and land owners then property can be owned outright with a fixed lease on land registration. For private buyers and investors buying a single unit, the preferred options are outlined below.

THAI LIMITED COMPANY
For buying property and / or land.
BUYING PROPERTY / LAND - LEASEHOLD AGREEMENTS
For buying property and / or land.
BUYING A CONDOMINIUM
For buying condominium as an individual.
THAILAND BOARD OF INVESTMENT (B.O.I)
For larger, corporate investments in hotels and / or resorts.

*Please note, foreign investors cannot own Thai land 100% as an individual.

BUYING PROPERTY / LAND - THAI LIMITED COMPANY

The most popular structure of land purchase for foreign investors is through a Limited Liability Company. In Thailand, a Limited Company is considered a Thai Juristic Entity and can own land and property.

A foreign investor may hold 39% of the company shares at the time of the initial land transfer increasing to 49% when the company owns the land. The foreign investor may then elect to legally become the only director of the company, this ensures that any and all dealings of the company and its assets are within the foreign investors control. Top ^

BUYING PROPERTY / LAND - LEASEHOLD AGREEMENTS

Leasehold Agreements are another option for the foreign investor. Leases are usually for a period of 30 years with two further prepaid options for renewal giving a total of 90 years. Clauses allowing freehold ownership are written into the agreement thereby allowing a freehold ownership should Thai law alter to allow foreign ownership of property.

Also included in the agreement are clauses covering the right to sell, sublet or transfer the lease agreement making a leasehold purchase a viable option. Top ^

BUYING A CONDOMINIUM

Purchase of a condominium must be 49% or less foreign ownership in any one complex. At the present time the funds for a foreign investment purchase must be paid from a bank outside Thailand. The procedure is simple. Using a Foreign Transaction Form, funds are transferred into a Thai bank account opened in the name that the condominium is to be registered in, allowing the bank to record all transfers of funds.

At the time of transfer the prospective owner receives a certificate of ownership called a "Chanote" detailing all rights the owner will have to common areas within the condominium complex. Transfer is not completed until all outstanding debts are paid by the previous owner. This ensures the foreign investor does not become liable to any monies owed prior to ownership transfer as has been the case on mainland Europe. Top ^

THAILAND BOARD OF INVESTMENT

For corporate investments, particularly within the hotel and resort industry, the Thailand Board Of Investment (B.O.I) offers unique incentives for outright control of your business in Thailand. First-One Property has it's own legal consultants who are specialist in B.O.I applications.
* Minimum requirements are hotel to have at least 100 rooms. Top ^

For further details please contact us.