Real estate regulations in Thailand do not vary in great deal from similar legislation in other countries of the world. Closely related to the tourism sector which is constantly developing in Thailand, the real estate domain is of high interest for investors worldwide. It is important to accustom yourself with the specific restrictions imposed by the Thai government in matters regarding land ownership by foreign individuals and companies. By addressing our law firm in Thailand you can find out useful information and be prepared to enter the real estate market in Thailand.
Tips about the real estate legislation in Thailand
The real estate law in Thailand has several particularities which regard ownership of land and houses by foreign people. If you intend to open a real estate agency in this country you should be prepared in order to advise your clients on the opportunities and limit of their investment.
According to the Thai Law, foreign companies may, in certain conditions own land in this country. If the investor can prove that he/she contributes with more than 40 million baht to the development of the Thai economy, then he/she is allowed to own residential land. Foreigners can also enter condominiums, which mean the sharing of a property with other owners. Moreover, they can as well enter into a lease contract for up to 3 years, period after which the contract requires registration with the land department in Thailand.
Our Thai attorneys can give you more details on the types of services which can be offered by a real estate agency in the context of the Thai legislation.
Steps of establishing a real estate agency
In order to set up a real estate agency an investor should comply with the company law in Thailand. As a foreign investor you might need as well to find local partners and to develop together the articles of association for your real estate business. Your local partner might be of great help in finding a proper name for your company in order to reach your clients on the local market.
You should as well be up to date with the real estate legislation in order to know which services you can offer to both native and foreign clients, either companies or individuals.
Feel free to contact our attorneys in Thailand in order to simplify the formation procedure of your real estate business and in order to become familiarized with the local legal framework.