How to become a landlord for a foreigner in Thailand?
Landlord Foreigners Property Ownership
Principles of property ownership for foreigners in Thailand
Legal ownership of land, land tenure or civil and commercial law, land reform. As for real estate in Thailand, although it is very popular with foreigners. But Thailand does not allow foreigners to come and hold it freely. Legislation was passed to restrict the right of ownership.
Thai real estate with foreigners
Real estate ownership By foreigners
Foreigners do not have the right to own ownership of the Thai land.
Foreigners can buy condominiums. In the proportion not more than 49% of the total building area.
If a foreigner marries a Thai Will be able to buy land But must be the Thai spouse's name only.
There are 3 types of properties that foreigners can buy:
Condominium or condominium
Buildings that are not attached to the floor Buy only the room.
All kinds of land and buildings that have long-term lease registered for more than 30 years.
Condominium
Foreigners can buy condominiums as much as they like. But must not exceed 49% of the total area of the building.
Foreign buyers are required to request a Foreign Proportion Certificate from the Condominium Juristic Person, which must be submitted to the Land Department in order to transfer ownership.
All condominiums must be paid in 100% foreign currency and transferred from a foreign bank. Prepare foreign currency transactions from banks as evidence of transfers to show to the land office. To prevent money laundering.
House and Land
As a rule, foreigners cannot own houses and land. Except in the following cases:
Married to Thai people - Can use Thai names to buy houses / land. But the money used to buy that house / land It must be the property of a Thai national only. Which in this way will not be able to actually own the land Because it is the name of the Thai spouse.
Long-term lease - doing a lease for a period of 30 years means not actually owning it. However, it is also granted 30 years of maintenance rights and the ability to renew two more 30-year contracts for a total of 90 years.
Thai Company Formation - Company formation where foreigners can hold 49% of the company's total shares, and the other 51% is held by a Thai individual or juristic person. In which, as a director of the company Foreigners have the right to control the votes of other partners. And can also control the ownership of the land.
Foreigners and land inheritance
A foreigner has the right to inherit as a statutory heir according to Land Code, Section 93, must be approved by the Minister for the acquisition of the land. But when combined with the existing, not more than the amount that can be obtained in accordance with Section 87.
If the contract of sale which violates Section 86 is deemed explicitly forbidden by law, it is void in accordance with the Commercial Code, Section 150.
Acquisition of land for a Thai woman with a foreign spouse
Criteria for land acquisition of Thai people with foreign spouse
Thai people with a spouse, both like and unlawful, are foreigners. Have the right to transfer land as a personal property in the event of a foreign legal spouse And as Personal property in case of having a foreigner illegal spouse Without limitation on the amount of space With rules
In case of accepting land When investigated, it appears that Is given as a Personal property of Thai people in case of having a foreign legal spouse Or is a private property of Thai people In the case of having a spouse who Unlawful, being a foreigner The competent officer will register the rights and juristic acts. To the applicant.
In case of buying land
In case of foreign spouse residing in Thailand
If a foreigner is a legal spouse To provide Thai people and foreign spouse together in writing In the affidavit To the competent official on the date of registration of rights and juristic acts that all the money used to purchase land is private property of the Thai people solely Not Sin Somros.
In the event that a foreigner is an illegal spouse, a Thai person and a foreign spouse can confirm in writing together. In the affidavit To the competent official on the date of registration of rights and juristic acts that all the money used to buy land is the private property of the Thai people solely It is not the property that can be obtained together.