Bangkok Commercial Property For Rent
Options for foreigners wishing to purchase Bangkok Commercial Property For Rent
With its tropical climate and friendly environment Thailand is a favorite destination for many foreigners; over the years this has created an interest in Bangkok Commercial Property For Rent.
Foreign ownership of property in Thailand is not absolute and subject to restrictions
- Land ownership in Thailand is not allowed under Thai Law;
- Foreigners are able to purchase Condo’s (Condo building must though be at least 51% under Thai ownership);
- Leasehold of land – Foreigners can have a 30 year lease on land;
- Foreigners can own property through a Limited company (this must be a genuine limited operating company, not a shell company set up for the sole purchase of buying property).
Buying a Condo
Purchasing a condominium is the most popular option for Foreigners in Thailand. This type of ownership is different than other property purchases. If you buy a condo you only own the condo unit itself – not the land beneath it. As mentioned previously a foreigner can only purchase a condominium if at least 51% of the building is owned by Thai citizen
Leasehold Of Land
This is an unusual option where a foreigner can lease the land for 30 years. If you wish to use this option please seek legal advice to ensure that the contract, ownership and land title are all above board.
Land in Thailand is covered by a system consisting of several title deeds. Most titles are issued by the Land Department and fall within seven main categories – three land titles can be leased, they are: Chanot, Nor Sor Saam Gor and Nor Sor Saam. The Chanote (Freehold) category, found in more developed parts of Thailand, offers private ownership. Other land is considered to belong to the government or the King of Thailand
Purchasing land through a limited company
The final option is to purchase land via your Thai Limited Company. Your Thai Limited Company would need to be 51% Thai owned.
Important: In recent years Thai Immigration has been taking a closer look at this process to ensure that Thai Limited companies are not set up for the sole purpose of purchasing land.
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