Super Fitness Health BlogCan a Own Property in Thailand?
Retirement in Thailand could be the dream of mine also and many foreigners. I want to relax there in about two years and have been looking at the guidelines for buying property in the land of smiles.
The easiest option for a (farang) is to purchase a condominium. There is a percentage requirement regarding the total quantity of Thais and farang inside the condo complex.
International property ownership is forbidden in Thailand. Therefore, the best a farang can do would be to own the house and rent the property. The lease is wonderful for 30-years and beyond that’s anyones guess. Some web sites say you will get yet another 30-years and other sites say that there’s no assurance.
Still another solution would be to include yourself as some type of company and lease the property back to yourself as an individual. This is in the grey section of Thai law and one that I wouldnt use. I’ve friends that have done this and up to now it is Ok but I worry about the future.
Last but most certainly not least is something called a usufruct. Googling this may probably give you extra information and a much better description than I can offer. All I know is that is the option that a lawyer recommended to me and I will pursue further on my next visit to Thailand. He claims it is similar to a rent but has some greater advantages. He’ll have to persuade me.
Regardless, it’ll function as the rent o-r the usufruct. Just one should permit me to have a spot in Thailand until the day I die or whatever happens to the property from then on I really dont value.
There is one final answer that I very DONT suggest. We learned about hair transplant los angeles by searching newspapers. It is possible to place the home in your Thai wife o-r girlfriends name. She’ll then own the property outright. There’s a minor technicality that she has to prove that she offered all the funds for the real estate but that’s a straightforward lie to cover. The problem with this option is that because she is the owner, she may do whatever she wants with the house. You might have a two week vacation and keep coming back and realize that your home has been sold and your baby is fully gone. That is not really advised.
Seek advice from your lawyer and get the approach to purchase/lease house for the retirement. When you have your attorneys hearing, check up on an enforceable and contracts will. Don’t conduct any transaction of this character with no advice of a lawyer.
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