Lease Property 30 Years And Use As A Business Ie Guest House

[maggy]

Hi new to this forum and would appreciate any advice.

Is it possible to lease a property in Thailand and then use it for business purposes.

My husband and I would like to run a small guest house in Thailand and would like to know if this is possible.

We are UK and Australian citizens.

Many thanks

Maggy

Edited February 9, 2009 by maggy

[bkkjames]

Hi new to this forum and would appreciate any advice.

Is it possible to lease a property in Thailand and then use it for business purposes.

My husband and I would like to run a small guest house in Thailand and would like to know if this is possible.

We are UK and Australian citizens.

Many thanks

Maggy

Maggy, the Real Estate Forum on here is full of "expert" advice. Maybe someone could move this???

[Lite Beer]

Moved.

[Kf6vci]

Hi,

I'm the last person oto give advice as I'm asking a lot of questions myself. Well, you can extend the lease period to nearly 60 years. But business and residence permits and rules and regulations on running a business like a guest house need to be assessed seperately.

In case you have not noticed, the country is likely to face severe turmoil in future. In addition, the tourism industry is hurting badly these days. Hope you get the timing right.

Sunbelt is sponsoring this forum, they have the answers. You couldf also browse TV and learn a lot.

Good luck!

Chris

[simon43]

Pray tell me how you extend the lease period to nearly 60 years? This is not a BOI business I think?

Simon

[InterestedObserver]

Yes, you can lease land for up to an initial 30 year period. The lease agreement has to be registered with the local land office. Business and work permits are another subject altogether.

[quiksilva]

Pray tell me how you extend the lease period to nearly 60 years? This is not a BOI business I think?

Simon

There are cases where two consecutive 30 year leases have been registered at once. An example includes the hotel and serviced apartments behind JC Kevin office building on Narathiwas. Technically the lease does not become enforceable until the commencement date and there is nothing to prevent someone registering a lease in advance. However, its relatively new and has never been challenged so is still untested in the courts.

To the OP. Its not easy, but it has been done, but it takes time, effort, money, and know how.

It all depends on the property in question and its original certificate of use issued at the time of completion. To change this certificate from say an office building to a hotel, or a shop house to a guest house, the property will have to be made to comply with current applicable building regulations for the new use.

This latter part usually scuppers most change of use projects of this type.

Its completely unlike the use class order system of the UK.

[maggy]

Pray tell me how you extend the lease period to nearly 60 years? This is not a BOI business I think?

Simon

There are cases where two consecutive 30 year leases have been registered at once. An example includes the hotel and serviced apartments behind JC Kevin office building on Narathiwas. Technically the lease does not become enforceable until the commencement date and there is nothing to prevent someone registering a lease in advance. However, its relatively new and has never been challenged so is still untested in the courts.

To the OP. Its not easy, but it has been done, but it takes time, effort, money, and know how.

It all depends on the property in question and its original certificate of use issued at the time of completion. To change this certificate from say an office building to a hotel, or a shop house to a guest house, the property will have to be made to comply with current applicable building regulations for the new use.

This latter part usually scuppers most change of use projects of this type.

Its completely unlike the use class order system of the UK.

Many thanks to everyone for your help.

We will do some more research as we have only just began to start looking into this venture.

Mags

[thaiwanderer]

maximum registerable lease term on commercial property is 50 years as opposed to 30 years for residential

[johnnyk]

Many owners only want to rent for 3 years at a time. A lease of 2 years 364 days does not have to be registered so Thai property owner can avoid tax. Just something to add into the mix.