Buying a Villa or House in Thailand
Real Estate in Thailand has taken off in the past decade or so with more foreigners’ wishing to live in Thailand or make Thailand their second home.
Many foreigners wish to own a house or villa rather than a condominium, and it is important that when purchasing a house or villa to always make use of registered lawyers in Thailand and reputable estate agents when buying a house.
Be fully aware that many of the problems that do arise from buying a house in Thailand can be avoided early on in the property search.
SET UP A THAI COMPANY Once you have decided which house or villa you are going to purchase, always consult a lawyer before signing any documents. Foreigners may not own a house in their name; however their Thai registered company may own the house. There are different forms of business entities in Thailand. The most commonly used is a Thai Limited Company.
There is certain business registration criteria’s for the limited company. The Thailand Amity Treaty is also still in existence for Americans and there are also tax considerations, so check our Guide to Taxes in Thailand if you are going to do more than own a house or need a Thai Work Permit.
BUYING A HOUSE or villa IN THAILAND Once we registered your Thai Limited Company we do the following amongst other property services so speak to our property lawyer today. They would do a title search and check the contracts before signing. Also note the type of Title Deeds in Thailand.
If you are buying a house or villa off plan, you would need legal advice as to buying in pre-construction projects. There is also the cost of transfer for your condominium and Thailand property taxes.
Always consult a reputable firm of attorneys before you embark on the process of buying a house or villa in Thailand. Contact us for a representative.