Buying a house or a villa in Thailand always requires the use of a property lawyer who can guide you through the process. Property in Thailand is complex and for the better part unregulated.
Buying a villa or house in Thailand – 3 steps
STEP 1: Finding a House in Thailand
Real Estate in Thailand has taken off in the past decade or so with more foreigners’ wishing to live here or make this country their second home. While many wish to own a house in Thailand, it is important that you consider the following when purchasing a house:
- Always make use of registered lawyers in Thailand and reputable estate agents when taking advice on real estate in Thailand.
- Do some research. See the Thailand Real Estate Outlook, the glossary of Real Estate Terms and the Real Estate FAQs when you start your search for Real Estate in Thailand.
- Read through the Real Estate pitfalls in Thailand when going out on your search. Ask the right questions to avoid costly litigation.
Be aware that many of the problems that do arise when buying a house in Thailand can be avoided early on in the property search.
STEP 2: Setting up Your Thai Company
Once you have decided which house 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 are certain business registration criteria for the limited company. The Thailand Amity Treaty is also still in existence for Americans and there are also tax considerations so check Corporate Tax in Thailand if you are going to do more than own a house or need a Thai Work Permit.
STEP 3: Buying a House in Thailand
Once we registered your Thai Limited Company we do the following amongst other property services so consult 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 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. Use the property transfer calculator to check your fees payable. Always consult a reputable firm of attorneys before you embark on the process of buying a house in Thailand. If you are looking at finance and obtaining a mortgage bond in Thailand then call us for more details.