Real Estate Lawyer in Thailand
Foreign Ownership of Land in Thailand
The ownership of land by foreign individuals or foreign companies in Thailand is prohibited by law, with very few exceptions (among which are individuals investing over THB 40 Million in government bonds, and companies with Thailand Board of Investment privileges).
Generally-speaking, foreigners wishing to invest in buildings and/or land in Thailand must consider alternate structures or mechanisms available under the law, the most popular of which are the property holding company; leasehold ownership; and various modes of land occupancy, among others.
Since 2006, Thai governments of the day have reviewed current laws and regulations, made some proposals for statutory changes, and implemented some new regulations. This eventually led most law firms in Thailand to revise their recommendations to insure their clients were in compliance with not only the letter of the law but also its intent. New mechanisms evolved that meet Thai legal requirements, and these must be reviewed with any investor prior to signing an agreement to purchase Thai property.
The classification of land under Thai law is complex, and only some categories of land carry clear ownership rights. Land designated as forest or agricultural land frequently does not carry freehold status and cannot even be leased to individuals, be they Thai nationals or otherwise. So it is important that any foreign or Thai investor intending to make an investment in land or buildings consult with professional legal advisors before committing to any property purchase in Thailand
Why Property Lawyer is Necessary
The classification of land under Thai law is complex, and only some categories of land carry clear ownership rights. Land designated as forest or agricultural land frequently does not carry freehold status and cannot even be leased to individuals, be they Thai nationals or otherwise. So it is important that any foreign or Thai investor intending to make an investment in land or buildings consult with professional legal advisors before committing to any property purchase in Thailand.
Our property lawyers at CNX Legal Consultant, with extensive knowledge of the real estate market in Thailand, is best placed to help any potential investor navigate his or her way through the complex issues of land title deeds, purchase agreements, mortgages and Land Office regulations and fees.
Our real estate lawyers and foreign advisors are available to meet with potential property investors concerning residential or commercial land and buildings. It is best to meet with an advisor prior to making any firm commitments to purchase or lease.
Foreign Ownership of Condominium in Thailand
Whereas land ownership by foreigners in Thailand is generally prohibited, the freehold ownership of condominiums by foreigners is legal, easy and straight-forward. Foreign nationals, including foreign companies, may outright own a condominium unit anywhere in Thailand.
The only condition that applies to such purchases: a maximum of 49% of the combined total living space in any one condominium project can be owned free-hold by foreign nationals; the remaining units can be purchased by foreigners on a lease-hold basis, using mechanisms similar to those used for the ownership or occupancy of land (see Ownership of Land in Thailand by Foreigners).
Because of the simplicity of the rules of condo ownership in Thailand, it is the most popular form of property investment by foreigners in the Kingdom today. The property market in Thailand is buoyant, as it is built around the inflow of foreign tourists and retirees, an important segment of Thailand’s economy.
Condominium projects are located not only in Bangkok and its suburbs, but throughout Thailand’s tourist destinations, the largest of which are Chiang Mai, Phuket, Pattaya and Ko Samui.
Foreign investors considering the purchase of a condominium in Thailand should engage the services of a professional lawyer at the very outset of their planning, in order to better understand the legal agreements, procedures, timeframes and requirements concerning the inward remittance of investment funds and other related matters.
English speaking property lawyers of CNX Legal Consultant, with its extensive knowledge of the real estate market in Thailand, is well qualified to give you the best advice in such matters—and at a cost that will represent a tiny fraction of your total investment.
Other Property Rights
There are a number of property rights that can be granted to foreigners in Thailand by contract with land-owners.
Thai Property Services
Offered by English Speaking Property Lawyers
CNX Legal Consultant has a professional team of real estate lawyers and advisors experienced in the planning, drafting and execution of all types of agreements concerning land, condominiums and other forms of property.
The law firm can provide the following services to those wishing to invest in Thailand real estate:
Thailand Property Lawyer
The proposed property action (sale, lease, mortgage, etc.) must then be recorded at the Land Office of the district where the property is located. CNX Legal Consultant’s property lawyers will dispatch a representative on the client’s behalf to the Land Office and insure the transaction is recorded in compliance with the law and relevant regulations.
CNX Legal Consultant has also developed a list of properties in Thailand, especially in Chiang Mai and the northern region of Thailand, that are currently available for purchase from interested buyers. These properties are inspected prior to listing, and can be viewed within three business days by any client contemplating an investment in land.
CNX Legal Consultant has also affiliated with a small number of licensed and knowledgeable land agents in Thailand, especially in the northern region of Thailand, who can assist clients wishing to invest in property for commercial or residential purposes.