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Frequently asked questions about property in Thailand
Q - Can Foreigners own property in Thailand ?
A - Foreign nationals in Thailand are allowed to own apartments (units)
in an officially registered condominium complex and/or buildings as distinct
from its land. Foreigners are not allowed to freehold land but are entitled to a
registered leasehold of up to 30 years for all types of titled land. With appropriate extension and purchase options a 30 year lease can become
as valuable as freehold purchase.
Q - Can I live and work in Thailand ?
A - Yes, but the requirements are that you have an officially registered
work permit and a proper business visa. As special rules apply on what
professions foreigners are allowed to work in Thailand, we strongly suggest
legal consulting before making any new career decisions.
Q - Can I own a company in Thailand and would this company be entitled to
freehold land?
A - Foreign nationals may own a maximum of 49% of shares in a Thai
registered company, that would be entitled to freehold land. A foreigner can be
director of such a company. We strongly suggest legal consulting regarding this
matter.
Q - How is land in Thailand measured?
A - The land is measured in Rai (1.600sqm), Ngan (400sqm) and Wah (4sqm).
Q - Are there any land title deeds and are there good and bad ones?
A - The best land title deed you can get is a Chanote title, followed by
Nosor
Sam Kor and Nor Sor Sam. These three titles are the only ones you should trust
when buying land in Thailand.
Q - How can I be sure that the land I buy is not a fraud and the person
selling it to me is the legal owner of this land?
A - You should consult a law or a legal consulting firm to check all
papers for validity. You can also do this yourself at the land registration
department of the responsible Amphur (province). Take copies of front and back
of the title deed plus a copy of the owner's id card and house registration to
request a check of ownership at the provincial land office.
Q - What is the actual situation regarding land prices and prices for
houses in Thailand after the Tsunami. Are the prices stagnating or increasing?
A - It depends on the area. In upcoming destinations like Phang-Nga and Khao Lak,
the prices are skyrocketing despite the tragedy and have increased by 400% since 2001.
In Phuket the prices are still climbing even after all those years of construction, while in
Pattaya on the other hand prices are stagnating, as the area becomes more and
more unattractive due to environmental problems. The island Koh Lanta, south off Krabi
is a famous backpacker destination but definitely a money grave for investors since the
infrastructure develops with the pace of a snail. Ongoing talks about a connecting bridge to the
mainland did not yield any results for 14 years!
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