What are the Thailand real estate hunter’s options? Are there legal mechanisms that may allow foreigners to secure guaranteed and uninterrupted access to the land and use of the land for his lifetime?

Option 1:

1 Rai of land – 40 million Baht in Thailand.

A foreigner may be allowed to own up to 1 Rai of land in his/her name if he/she brings 40 million Baht into the country. Conditions apply.

Option 2:

Long-term lease from current owner.

This option is also known as ‘never ending’ lease option by the owner. The lease agreement will specify negotiated balloon payments at 1, 3 or 5 years intervals. This may be a good option if the leasee does not want to commit a large amount of money up front.

Option 3:

Other land owner ship and right of use methods.

This is a right to enjoy and use advantages and benefits of property belonging to another entity as long as the property is not altered or damaged.

Option 4:

Creation of a majority owned company.

This method may be more of an expensive and fairly complicated one. The foreigner owns 49% of shares and Thais own 51% of shares. The registered owner is the foreigner who also owns the majority of the voting rights.

Option 5:

30 Year lease with option to extend the lease.

This is probably the preferred method for most foreigners. The foreigner buys the land in a Thai citizen and leases it back from the Thai citizen for 30 years with option to renew. Many foreigners choose this option with their Thai spouse.

Which is the best option for you?

You will be best advised to consult a law office in Thailand. Legal fees are a fraction of the cost in most western countries but in the long run will save you money and minimize your investment risk.

In tourist areas you will have no problem finding law firms with experience and a good reputation. If you are moving to a rural area you may have a more difficult time to find a law firm but you can still work with a larger company from Pattaya, Bangkok or other areas.

The research and finding the right law firm to do business is may be one of the most important tasks. Legal fees are inexpensive compared to many western countries. A land deal may cost around 15- 30,000 Baht but this investment is necessary and may save you a lot of trouble and money in the long run.

More tips on buying real estate in Thailand: http://www.paradise-pattaya.com/pattaya-real-estate.html

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