We can help you through the formalities of acquiring properties or businesses in Koh Samui.
- Titles check.
- Plot subdivision.
- Due diligence.
- Company set up
How to buy land in Thailand
Concerning the way to purchase Thai “Land” there is two options :
The designed “Land” can be purchased by a foreigner as leasehold. The land lord will lease the land to the purchaser for a period of 30 years with an option to extend, for a further two 30 year periods to give effectively a 90 year lease. To be noted that only the first 30 years can be registered at the land office. Good leasehold contract should include a clause which stipulate that if the land law in the Kingdom of Thailand changes, making a freehold option available, the title may be converted from leasehold to freehold at the leaseholders request.
Option two freehold
Under Thai law a foreigner may not own the freehold to land, however, a freehold title for a building which sits on the land can be purchased. The foreigner can create Thai company limited (Co.,Ltd) where they can own 49% of the shares, the other 51% must be owned by genuine Thai investor with a a ratio of two Thai for one foreigner, often the Thai don’t have the voting rights, foreign investors then control the company. That done the property can be placed under the control of that company and therefore controlled by the foreign director.
In any case you must comply and satisfy Thai laws. This is why you must in any case seek the advise of a Lawyer who will clearly explains you all your available options before any decisions. If you don’t have any contact please feel free to ask us a list of recommended lawyer.