LEGAL

Foreigners can own buildings, structures, villas and condominium apartments in Thailand in their own name as Thai real estate law places no nationality restrictions on ownership of such in Thailand.

There are restrictions to the ownership of land. Thai property laws seem very complicated for most of foreigners.

Actually, with the assistance of a local lawyer, it’s quite straightforward.

Our legal team, or your lawyer of choice, will assist you with the purchase of your land and house, including the setting up of your Thai Company making the experience easy and seamless.

Purchase of land in Thailand:

There are two options to purchase land on Thailand.

Option 1: Owning Land Freehold - By Setting up Your Thai Company to Own the Land

Foreigners are not permitted to own land in their personal name. However as a foreigner, you are allowed to own 49% of the shares in a Thai Limited Company and be named the Director of the company.

As a Director, you control the company, and thus it will give you the right to buy land in Thailand under the name of the company.

In addition, you would have the voting majority in your preference shares, and therefore despite owning 49% of the company, you would have ultimate control.

Furthermore, the company that you control can register a lease in your personal name for 30 years with renewals thereafter.

Option 2: Lease the Land - Leasehold Agreements

Buying Thai real estate under a leasehold interest is also an alternative way for foreigners to acquire property in Thailand. The Lease Agreement permits you the right to use and access the land while the owner retains ownership; this similar to many Anglo-Saxon laws.

The maximum registered lease term is 30 years, though contractually this can be renewed for further periods of 30 years’ each.

How To Reserve Your Dream Villa

The buyer reserves the land & villa by entering into a “Reservation Agreement” along with a payment of 1% of the total price as a deposit for 30 days. This allows time for the parties to draft and enter into the legally binding land sale and build contracts.

Contract And Payment Schedule

The buyer and developer enter into a “Land and Villa Sale & Purchase Agreement”. The Agreement will entail all aspects of the build and timing, as well as a detailed schedule of payments that are only paid upon the successful implementation of key construction milestones.

After Sales And Concierge Service

We offer a comprehensive villa management service consisting of the maintenance of the swimming pool, upkeep of the garden, pest control, general security; and membership to the gym & tennis club. Those wishing to utilise our maintenance services will have to sign a “Villa Maintenance Agreement”. Optional services include maid’s services, door-to-door shopping deliveries, in-house chef and catering, private island tour, massage by your pool, and all additional entertainment requests.

Villa Rental Service

Owners wishing to rent out their villas can elect to use the services of Samui Living’s rental program by entering into a “Rental Service Agreement”. We can assist to find holiday makers for short term rentals or expats looking for long term home rentals. Alternatively, should you find a tenant; we can offer supplementary services such as cleaning, airport pick up/drop off, welcome drink and food basket on arrival etc.

Disclaimer

This publication is prepared by Samui Living Co Ltd and is intended to provide general information on the subject of investing in real estate in Thailand. This publication does not constitute personal or legal advice. The publication should not be regarded by potential investors as a substitute for the exercise of their own judgment. Before making an investment decision on the basis of any information contained in this publication, a prospective investor must consider whether the information is appropriate in light of their particular investment needs, objectives and financial circumstances, and seek financial and legal advice. Samui Living Co. Ltd accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material.