Sherlocke Posted October 9, 2009 Share Posted October 9, 2009 If you want to "buy" a house in Thailand or build for yourself on a plot....what is the current situation? Is anyone actually buying houses? or land and building on it? This is with regards to a foreigner without any Thai spouse etc. I'm not interested in buying a condo, but I'd like to build a house on some land I've seen or simply buy a house and land. A 30 year lease might be OK? What about companies now? Is there a clear and simple line to follow? Link to comment Share on other sites More sharing options...
InterestedObserver Posted October 9, 2009 Share Posted October 9, 2009 (edited) A foreigner cannot own land in Thailand. So you are limited to securing the land through one of the various methods available to foreigners such as a 30 year lease, usufruct, or start a business (company). Once you secure land rights, get yourself a building permit and build your house. Edited October 9, 2009 by InterestedObserver Link to comment Share on other sites More sharing options...
gotlost Posted October 9, 2009 Share Posted October 9, 2009 A foreigner cannot own land in Thailand. So you are limited to securing the land through one of the various methods available to foreigners such as a 30 year lease, usufruct, or start a business (company). Once you secure land rights, get yourself a building permit and build your house. All 3 suggestion above are viable options. You can also buy the land but name a Charity that will receive the land when your are deceased or finished. You need to watch that options on buying land on a business may and may not work. Since you are not married defiantly get an attorney. Building permits, check with your builder and attorney. I only know of 1 case of a building permit that is in town 150,000 pop. Out of town they can't spell the word. Link to comment Share on other sites More sharing options...
Bemused Posted October 9, 2009 Share Posted October 9, 2009 (edited) The company option is now rarely viable for the NEW purchasers. The problem isn't that the Government is taking land back from existing owners, the problem is that local Land Offices have been instructed to check that the obligatory majority Thai shareholders are genuine owners. They do this by checking the Thai's 'involved' have the financial resources to invest. The situation varies throughout the country. Some offices check, others do not. You need some local advice on this. Polls suggest the majority of people purchase through a Thai Wife. I suspect that over the last 18 months a poll of people without a Thai partner would show the majority of people (other than condo purchasers) will have purchased a lease, often with a 'renewal clause'. I think the Leasehold option is a bad one from an investment perspective. Because the leases are short, with no secure renewal rights, you lose any capital you put in as soon as the money is spent. To get a satisfactory return on your money, whether the benefit is personal use or rental income, you need to compare what the same money would buy you had you not spend it on a leasehold property. Leasehold options become more attractive the less they cost you. If you can buy and build for two million baht (with no borrowing costs) then the benefits you get from using the property may stack up well against options like renting. You start spending more than this, then you are probably better off investing the cash elsewhere. As further thought, consider this. 30 years is a short tenure in terms of ownership rights, 30 years is however a long time to own property. In developed countries people normally opt to sell well before 30 years are up simply because they want to move. Place changes, people change, you won't feel the same way about a place in 10 years time. This is of course what makes Thailand's leasehold laws so inappropriate for resort property: you pay for period of ownership which is too short to resell and but at the same time longer than most owners interest in the property. Edited October 9, 2009 by Bemused Link to comment Share on other sites More sharing options...
greytown Posted October 10, 2009 Share Posted October 10, 2009 (edited) You can also buy the land but name a Charity that will receive the land when your are deceased or finished. Is that a fact? Any official site (in English) where this can be verified? Edited October 10, 2009 by greytown Link to comment Share on other sites More sharing options...
Sherlocke Posted October 13, 2009 Author Share Posted October 13, 2009 Some interesting observations - especially........ "Since you are not married defiantly get an attorney" Some of us are happily not married, you know! Link to comment Share on other sites More sharing options...
chiangmaibruce Posted October 14, 2009 Share Posted October 14, 2009 "Since you are not married defiantly get an attorney"Some of us are happily not married, you know! You're definitely no Sherlock Holmes coz that one whizzed over your head. Perhaps you'd be well advised to spend a few hours reading previous threads in this forum to bring yourself up to speed a bit. That comment was made in reference to the fact that most means of occupying land/house require partnering-up with a Thai national (who will be the actual owner of the property). Of course normally this is a Thai spouse, which reduces the risk somewhat. If you aren't married (and want to pursue these avenues) then that means cozying up to an un-related Thai (at probably greater risk ... hence greater need for a lawyer). Your only other avenue is buying leasehold (30 years) ... or just renting ... neither of which are necessarily bad choices. But even with the leasehold purchase the services of a lawyer might not be a bad idea to ensure you have the right clauses in place - and that it gets registered ok. Link to comment Share on other sites More sharing options...
Sherlocke Posted October 14, 2009 Author Share Posted October 14, 2009 "Since you are not married defiantly get an attorney"Some of us are happily not married, you know! You're definitely no Sherlock Holmes coz that one whizzed over your head. Perhaps you'd be well advised to spend a few hours reading previous threads in this forum to bring yourself up to speed a bit. That comment was made in reference to the fact that most means of occupying land/house require partnering-up with a Thai national (who will be the actual owner of the property). Of course normally this is a Thai spouse, which reduces the risk somewhat. If you aren't married (and want to pursue these avenues) then that means cozying up to an un-related Thai (at probably greater risk ... hence greater need for a lawyer). Your only other avenue is buying leasehold (30 years) ... or just renting ... neither of which are necessarily bad choices. But even with the leasehold purchase the services of a lawyer might not be a bad idea to ensure you have the right clauses in place - and that it gets registered ok. Duh??? DEFIANTLY - ?????? It's elementary! - you obviously are no Watson! Link to comment Share on other sites More sharing options...
chiang mai Posted October 14, 2009 Share Posted October 14, 2009 If you want to "buy" a house in Thailand or build for yourself on a plot....what is the current situation?Is anyone actually buying houses? or land and building on it? This is with regards to a foreigner without any Thai spouse etc. I'm not interested in buying a condo, but I'd like to build a house on some land I've seen or simply buy a house and land. A 30 year lease might be OK? What about companies now? Is there a clear and simple line to follow? So much info on this forum on this subject, it's been beaten to death so many times - try a search on the subject maybe rather than getting into peeing matches with posters who are offering sensible advice. Link to comment Share on other sites More sharing options...
Sherlocke Posted October 14, 2009 Author Share Posted October 14, 2009 I'm sorry but I didn't notice your name on this thread until you made a rather silly comment presumably because you hadn't read my post - I then merely continued your own "sherlocke" joke - I'm sorry if pointing this out has upset you. The reason for this post is that the laws and the ways they are handled change on practically a month by month basis - as you say there is a TON of stuff on this subject mostly old and largely conflicting - this post was aimed at getting some up to date ideas - which it has v- I don't notice anything new from you though - only a miss-aimed snipe. Link to comment Share on other sites More sharing options...
chiang mai Posted October 14, 2009 Share Posted October 14, 2009 I'm sorry but I didn't notice your name on this thread until you made a rather silly comment presumably because you hadn't read my post - I then merely continued your own "sherlocke" joke - I'm sorry if pointing this out has upset you.The reason for this post is that the laws and the ways they are handled change on practically a month by month basis - as you say there is a TON of stuff on this subject mostly old and largely conflicting - this post was aimed at getting some up to date ideas - which it has v- I don't notice anything new from you though - only a miss-aimed snipe. Slow down and re read the posts thus far and see who has said what, you appear to be very confused in your most recent posting. Link to comment Share on other sites More sharing options...
Sherlocke Posted October 14, 2009 Author Share Posted October 14, 2009 (edited) I beg your pardon but this was a genuine enquiry - you don't seem to have the faintest idea of what I was commenting on so do you mind not making baseless derogatory comments and taking your misplaced sense of humour elsewhere? Edited October 14, 2009 by Sherlocke Link to comment Share on other sites More sharing options...
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