Your Options to Buy a Land in Thailand Made Handy
How does it matter that you are a foreigner? You can always buy a land in Thailand. Okay! That may not be in your name, but it can be in your Thai spouse’s name or your Thai limited company’s name. Since the country doesn’t use western measurements for land, you will need to first convert Rai to Square Meters.
If you are single, you have no other option than getting married to a Thai. Then, as a non-Thai spouse, you must state that you owe no rights over the purchased land. You and your Thai spouse will be asked to sign a declaration at the Department of Land, stating that the money used for the purchase is the separate property of the spouse.
Having said this, you can also make a choice of setting up a Thai company. I am sure you will prefer the second option. I mean who wants to give up his/her freedom just to buy a land in his/her name.
So, once you have decided which land your want to purchase after a title deed search, it’s time to register a Thai company to own the land completely. As for that, there are different forms of companies to consider.
The most commonly used are the Thai Limited Company. In that case, there are a few business registration criteria that need to be met. However, the US-Thai Amity Treaty has made it easy for the Americans to open their company in Thailand. In fact, you can enjoy tax exemptions because of the relationship between Thailand and the US.
Alternatively, you can buy a land under a leasehold agreement, which is usually a preferred way for most foreigners. You can, therefore, obtain full interest on the lease in Thailand. However, you can even transfer the agreement or sell it for other freehold title conveyance. As for the lease term, the maximum is 30 years.
If you are wondering which one should you opt for, our legal advisors can assist you in the processTags : buy house thailand, buy land Thailand, buy plot thailand,