ARE YOU A POTENTIAL PROPERTY BUYERS?
If you are looking to purchase your dream home or an apartment or land, we are here to help you to find the right property in Phuket, but even more, to assist you in every step of the transaction to be sure you are operating in the correct legal way and be safe after the purchase.
Here some frequently asked questions from our clients.
Under the Thailand Civil and Commercial Code foreigners have the same property rights as are available to Thai nationals, however, it is under the Land Code Act B.E. 2497 (1954) prohibited for foreigners to own land in Thailand. As ownership of land is an essential element of any real estate (land and house) ownership it leads to the conclusion that, besides an apartment in a licensed condominium, there is NO freehold ownership of real estate (land and house) available for foreigners in Thailand. A Foreigner can legally lease the land for 30 years, and register the lease, or in partnership with Thai citizen purchase the land under a Thai Co. Ltd.
Yes, a foreigner can own the Freehold of the property If the apartment is in a licensed condominium, in this case the apartment will be in his name and he have the full property rights. There are some important steps to be followed during the transaction to be sure to be able to register it correctly, ex. the funds must come from abroad or 30 years registered Leasehold is another option for a foreigner to have the apartment register in his name or Shareholder in a Thai Company
The House includes the land, therefore cant’ be entirely owned by a foreigner, we can’t own land, therefore we can lease the land for 30 years and have the house above registered in our name or, register Land & House under a Thai Company and be the shareholder with Thai citizens (min 51%, min 3 shareholders)
A leasehold in is not a real property right but a personal contract right of the lessee. The lessee cannot buy or sell his lease unless the owner is willing to cooperate. A Leasehold can be registered up to 30 years per term and the registration fees is 1.1% of the declared amount.