Buying Land in Thailand (Real Estate in Thailand)

After a wonderful vacation from amazing Thailand, you are so elated by
its astounding beaches, beautiful people, and culinary delights that
you decided to buy a piece of it and call it your own little place in
tropical paradise. You excitedly turned on your computer, keyed in Buying
Land in Thailand and pressed enter. Thousands upon thousands of
entries beckon you for that miraculous “click”. BUT, before you get
carried away, do you have sufficient information about property
acquisition in Thailand? Are you well protected from the common
property problems prevalent in this country?


For the past two decades or so, Thailand has seen an
influx of foreigners spending their hard earned monies to acquire
property in this land of beauty. Unfortunately, those acting in
ignorance of Thai laws helplessly witnessed their monies go down the
drain of non-recoup.

Now, with reason restored, you wonder: Are
Foreigners allowed to own land in Thailand? Generally,
foreigners are not allowed to directly purchase land in Thailand.
Simply put, Thai laws prohibit foreigners from owning land in their own
name, although theoretically there is an exception but it is yet to be
seen in practice.
This notwithstanding, there are alternatives
available to foreigners for successful land acquisition. The most common
option is to set up your own Thai
Limited Company to own the land on your behalf. Another option is
to enter into a long term leasehold with the Land owner. It is a
commonly unknown fact that although a foreigner cannot own land in
Thailand, he can own the house or structure built thereon. One only
has to apply for a construction permit to build the house in his own
name.

The next step is to get well acquainted with
the process
of buying real estate in Thailand. It is also important to
understand the different types
of Thai title deeds in order to determine the extent of the
owner’s rights over the land you are interested in. Also, it is
advisable to know the cost
of transfer and Thailand
property taxes in advance. Use the property
transfer calculator to determine the over-all purchase cost.

Most importantly, use the legal
services for property acquisition of registered and reputable
lawyers in Thailand to protect your interests and ensure that your own
tropical paradise will soon become a reality.


Courtesy: http://www.thaiembassy.com/thailand/buying-realestate-thailand.php