Tag: Properties in Thailand
After I Purchase Property in Thailand, Should I make a Thai Will?
If you purchase property in Thailand, including a condominium, long term lease or shares in a Thai registered corporation, be sure that your estate plan takes your new property into account. Thai law provides that the succession to your immovable property in Thailand is governed by Thai law, so if you own a condo or […]
Due Diligence Process for Thai Property
If you decide to invest in real property in Thailand, you will want to have all the information about the property you are interested in buying that you can. Researching your potential investment is sometimes called doing your due diligence. The due diligence process begins before you sign a contract or make any payment and […]
U.S. Citizen Buying Property in Thailand
Can Americans buy property in Thailand? While U.S. citizens are prohibited from buying land in Thailand, they can, however, apply for long term land leases of up to 30 years and build structures upon the land. They can also buy condominiums from property developers. Buying land through a Thai dummy corporation is illegal, although you […]
Foreign Ownership of Industrial Land in Thailand
Although the Thai Land Code generally prohibits foreigners from owning land, one notable exception applies to land located within an industrial estate under the Industrial Estate Authority of Thailand Act of B.E. 2522 (1979), as amended. Under Section 44 of the aforementioned Act, foreign entrepreneurs are allowed to own industrial estate land to conduct business, […]
Legal Barriers to Escrow in Thailand
Finding escrow services in Thailand can be hard, but there are a few legal options. Some large international developers will cooperate with their buyers to use offshore escrow services in certain situations. However, the use of offshore financial institutions can add additional risk due to currency exchange issues. In some situations, the parties to a […]
Practical Barriers to Escrow
In some countries, such as the US, the use of escrow services when executing a property purchase is widely accepted as a way to reduce the risk inherent in the transaction. However, any type of escrow arrangement in Thailand is very rare, for legal, cultural, and practical reasons. Even for buyers who want to use […]
How to Make a Thai Will
Foreigners living in Thailand and those owning immovable property in Thailand usually need a Thai will. It is a good idea to work with an international law firm, such as Siam Legal, to ensure that your estate plan complies with Thai law. Thai law provides that if you are competent to draft a will in […]
The Right of Habitation
In addition to lease in Thailand, usufructs and superficies, Thai law provides another specialized type of legal property rights that may be of interest to some foreigners living in Thailand. The right of habitation (arsai) entitles the recipient to live in a building rent free for a period of time up to 30 years or […]
Hire of Immovable Property for Commerce and Industry
Foreign investors seeking to lease land in Thailand for business purposes may find themselves limited by the 30 year lease limit posed by the Civil and Commercial Code. Indeed, the 30 year limit is rather short in comparison to lease limits in other jurisdictions; such as Vietnam, which allows residential lease terms from 50 to […]
Buying Off-Plan: The Sales and Purchase Agreement
Off-plan condominium projects are an attractive option for foreigners desiring to live in Thailand because they offer the prospect of purchasing something that is brand-new. However, several concerns will naturally arise if one should enter into an agreement to purchase a new home in a pre-constructed condominium. In the past, unscrupulous developers have been known […]
