Foreigners purchasing landed property in Thailand face many obstacles and restrictions.
Because of this many circumnavigate the law most of the time unknowingly.
Due diligence is important as is understanding #Thaipropertylaws and restrictions for foreign buyers.
Many Developers only offer a freehold option.
Foreigner buyers cannot legally own the freehold of land in Thailand
So how do foreigners buy their dream home in the land of smiles Legally?
Here are the most common question
Can I set up a company and buy the villa in a company name?
Answer It is illegal for a number of reasons and you can face losing the property and being deported.
If you have set up a company for the sole purpose of owning property in Thailand meaning this is not a real company trading and doing business then this is a clear breach of the law.
Who are the directors of that company?
Are they nominees?
Using Nominee shareholders or directors is illegal and can lead to imprisonment.
For years the above has gone on but the DCI are now investigating companies that own property with foreign control.
Buying from a reputable licensed developer with a developers license on a leasehold basis is the safest and is the legal way.
You still need independent legal advice from a property lawyer not associated with the developer or real-estate person selling the property.
If you have already bought and want to know if your purchase is safe and legal reach out to us at Lawyers for Expats Thailand.
We offer a Free Consultation and Due Diligence to ensure you are safe and following the law.
To arrange a free consultation on buying property in Thailand call Brian Ramsden our General Manager of Foreign Affairs on 0956583038 Whats App & Line
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