If you are considering buying property in Thailand then first consider the option of leasehold agreements. There are many advantages as foreigners are not allowed to own land. This however does not mean you cannot lease land. Speak to us about the options.
Looking at buying property in Thailand or buying property in Isaan then consider what you can get out of a leasehold agreement. The first advantage is that you do not need to invest a huge amount of money upfront. This makes the investment much easier. As foreigners cannot own land you could lease land and improve the land. So instead of buying land in the name of say your wife and not having enough to develop the land, you could lease the land and invest what you would have invested in the purchase in actual improvement of the land.
Let’s look at a practical example of a leasehold in Thailand. John Soap was married to Tik Tock. They decided that in John’s advanced age they would not simply want to retire. Instead they leased land in Southern Thailand and looked at starting a rubber plantation. Now, since no purchase was made, John and Tick were able to invest all that money into development of the infrastructure and farming equipment. As you know, a foreigner may not farm in Thailand as it is a prohibited profession in Thailand for a foreigner. Tick, being Thai however could.
Leasehold agreements especially where you are going to make a big invest like the example above needs to be registered against the title deed. The following is important when considering a lease agreement:
- If the lease is longer than 3 years it must be registered with the Lands Department;
- The maximum duration of this lease is 30 years;
- The lease agreement must be in writing;
- You can only sublet if the agreement allows for it.
These are the very basics of a lease agreement in Thailand. Have one of our property lawyers draft a lease agreement for you and ensure that you are not only able to lease the land but that the lease gets registered against the title deed at the Lands Office. Speak to us about investment in property and real estate and we will be able to guide you in the right direction.
If you are considering investing in Thailand then call our toll free US or UK telephone numbers for assistance now. The number is available 24 hours of the day else you can visit our main website and speak to us live on live chat. With offices in all the main cities in Thailand, we at Siam Legal can best serve you legal needs. Talk to us today much as what John and Tick did. Make your retirement and investment worth it while.
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