Question: Can a foreigner own land in Thailand?
Answer: No its not possible for a foreigner to own land in Thailand.
There are two options for a foreigner to get control over a piece of land:
First option: Leasehold ownership
A safe and secure registered long term lease by signing a 30-year (or less) lease with a domestic company or Thai individual, with an automatic option to renew for another 30 years. Typically with 2 x 30 year extensions, making a total of 90 years.
Second option: Freehold ownership.
An individual foreigner or a foreign company may acquire and own a house and land through a Thai Company (“Holding Company”) and have control over such company as a Director and via a preference share scheme. The shares held by Thai shareholders will be common shares, and the shares held by the foreign Investor will be preferred shares. Under Thai laws, the preferred shares mean shares with different rights from common shares. Preference shares in this case would give the holder control over the company.
Question: Is leasehold land tranferable?
Answer: leasehold land may be transferred subject to the terms and conditions of the agreements. Generally, an assignment fee is payable. In addition, the assignee must agree to be bound by the terms and conditions contained in the original lease agreement.
Question: Can a foreigner own property in Thailand?
Answer: Yes it is possible for a foreigner to own property in Thailand.
Question: How do I rent out my property?
Answer: If you like, we can rent out your property during the period you do not use it yourself.
We will take care of everything and transfer the rental income to your account.
Question: How is land measured in Thailand?
Answer: Land Measurements.
|1 Rai||= 4 Ngan||= 1,600 m2|
|1 Ngan||= 100 Talang wah||= 400 m2|
|1 Talang wah||= 4 m2|
|1 Acre||= 2.529 Rai|
|1 Hectare||= 6.25 Rai|
Question: What is a sinking fund?
Answer: A sinking fund is a reserve fund established, usually at the time a new condominium project is constructed , to pay for any non- routine, structural damages or repairs and replacement to commons areas or infrastructure. The condominium committee decision is required to use this fund. Mostly, payments in to the fund are made by the Buyers at the FIRST ownership transfer from Developer to an Buyer.
Question: Can my Thai wife own land in Thailand?
Answer: Thai nationals married to foreigners can purchase land, but the Thai spouse must proof that the funds used to buy the land is legally hers and has not been provided by the foreign partner. This “proof” can be created when the foreign partner signs a declaration, confirming that the funds used to buy the property solely belong to the Thai spouse and that the foreigner has no claim to it ever.
Question: Are there property tax in Thailand?
Answeer: There are no property taxes as such in Thailand that are exactly equivalent to the property taxes in the west, however, the most comparable taxes on properties in Thailand are the Land Tax and the Structures Usage Tax. The Land Tax levied on land is so minimal that in practice the administration in charge to collect it rarely bothers to do so, and if they do, they usually wait several years until the amount accumulates. The second tax, the Structures Usage Tax, relates to buildings, is collected by the municipal office or district office, and is only applied to properties used for commercial purpose.