After having a tremendous trip to Thailand, you will surely be captured by the nice beaches, wonderful people and food variations making you wonder about getting your own place in this tropical country. Many has decided to settle and find a place of their own and call it as their home. For the past two decades, Thailand has experienced an out pour of foreigners investing in the country acquiring properties in Thailand.
Acquiring Properties in Thailand
In general, foreign investors are not allowed to purchase land directly in Thailand. Thai laws prohibit foreigners from owning land and putting it under their own name. However, there are a few alternatives to make land acquisition possible to foreign investors. The commonly used method would be setting up your own Thai Limited company to own the land in your behalf. Although foreigners cannot own land in Thailand, they are allowed to own a house or any structure built on the land. The only thing needed to do is to apply for construction permit for building a house under his or her name.
The next stage is to familiarize with the process of purchasing real estate in Thailand. Understanding the different categories of Thai title deeds is necessary to be able to determine the scope of the owner’s rights over the land which you have taken interest in. it is also highly recommended that you should know in advance the cost of transfer and Thailand’s taxes.
Property lawyers in Thailand have important roles in purchasing property in Thailand. They are the ones checking with the land register to see to it that the property can be sold legally and check for any restrictions. Title deeds on Thai property comes in many variations, including some extremely restricted ones wherein it is stated that no one can ever make changes to that piece of land at all, and some of which are registered squatters rights. It would be best to find a trustworthy to help with your property purchase, someone who can speak English when your Thai is not up to date. And also a firm with both Thai-English speaking lawyers who may assist you throughout.
According to statistics, more than a billion Thai Baht is invested every year in Thailand by foreign investors. Even though property purchase is a huge step to take, many others before you have also invested in Thailand property. Thai law is also very firm and clear when it comes to ownership rights.