House Purchase In Foreign Name

[geordie]

My friend has been looking at a new housing developement near where i live, and he is interested in buying one. He has asked me some questions about purchasing the house in his name, he is not married but is thinking of settling down here. I said that i would try and find out on this site, because someone has probably done this before.

The 1st question is, can he have the house in his name, the 2nd is how does he go about this.

Will he need a Thai involved in the purchase, will the house come with a lease from the developer as we know we cannot own the land that the house is on.

Thanks in advance for your information and answers.

Geordie

Edited July 1, 2006 by geordie

[Dragonman]

He can have the structure in his name and lease from a Thai National. Wouldn't imagine any Developer would object to this as the lease would end in 30 years, although the lessor would likely have to give a repayment of the structure value if or when your friend is evicted.

He should realise it is only a long term rental, and he will have a diminishing asset.