The legal foundation of owning a house at The Riverside is a 30 year lease contract for your land plot with
options granted for two successive periods of 30 years each. Leasehold in Thailand for a period of 5 years and more
will be registered at the local land re- gistration department and put in writing onto the land title deed. The leasehold
is transferrable and inheritable and as good as freehold but produces much less hassle and headache.
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Legal Information on Lease and Freehold
Q What are the pros and cons for each - leasing and freehold?
A Freehold states your company as the legal owner of the land and the house.
And as you can see in the previous sentence - you are required to set up a Thai company
with at least 75% of the shareholders being Thai nationals on the date of the land transfer.
Thus you will have to pay taxes and truly run the company, as there are severe penalties
on so-called "ghost companies" which exist merely on paper. The easier way is to lease a
Khao Lak Villa 1 home for a maximum period of 30 years with option of extension for yet
another 30 years, as that is the maximum lease period allowed by Thai law. The pros here are obvious, as no
company is required. The cons are that your ownership is restricted to 90 years.
Q What land title deed exists for each villa?
A A Chanod title deed for the whole project, not for each villa. For each villa there will
be made a copy of the Chanod title deed with your land plot marked on it.
A Chanod is the highest and safest one can get. It certies full ownership and the right to sell or lease it without restrictions.
Q Is buying a house in Khao Lak a good investment?
A A definite YES, because land prices went up by 500% since 2001 !
Q I need the villa only during winter time. Can I rent it out to someone in the meantime and can you help me to manage this?
A Of course - we will be pleased to take care of your house during summer time and to assist with finding a suitable tenant for
a small management fee.
Q I would require a bigger villa with 4 bedrooms. Do you have such villas available?
A Not at this moment, but we have plans for bigger villas with our future projects.
However - we can find and secure a land plot for you and build a villa of the size you desire
whenever you are ready to get started. Just let us know your exact requirements and we will
follow up with details on how to proceed.
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The Riverside - Residential Property