For the past 5 years Lawyers for Expats Thailand have been warning foreigners about the dangers surrounding property ownership in Thailand.
Thailand is a great place to live and to relocate to but it is important that you follow the law.
If you have a lease it is important that it is registered at the land office.
Any lease over 3 years must be registered otherwise it can be cancelled after 3 years by the lessor.
It is therefore essential to have a registered lease on the land as part of your solution.
Setting up a Thai Company to own Land
Many chose to ignore our warnings and bought property via a company set up solely for the purpose of owning property.
The main reason this is such a taboo is that Thai nominees are used to circumnavigate the law.
It is both unwise and dangerous to contemplate this clear disregard to the law.
The authorities are clamping down on this practice and in the past few weeks there have been a number of people jailed for being a nominee.
In the past this was regular practice but no longer is this allowed or permitted in fact just last week we heard of land offices around the country not permitting the registration of land to companies with a foreigners on.
Nominees
Nominees do not have to be related to companies many foreigners choose a Thai person to buy land for them (as a nominee) and get them to lease it back to them.
The dangers
What happens if they die?
What happens if they divorce ?
What happens if they become in debt?
With all three scenarios you could lose the property or the right to sell it at the very least.
There is a new risk factor,
What if they are investigated for being a nominee?
So we know that foreigners cannot own land in Thailand
How can foreigners (not married to a Thai) therefore buy landed property
(House or Villa) safely and legally?
With No Nominees, No formation of a Thai Company, Full ownership of the Villa or House, Servitude Rights following the law and airtight and not through a developer?
Here is how
Simply call us for a Free Consultation on 0956583038 Whats App and Line
Lawyers for Expats Thailand will guide you through the process and have a unique solution to ensure Foreigners follow the law and have an airtight solution .
Your investment is safe with Lawyers for Expats Thailand.
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