thai land ownership / title transfer fees

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thai land ownership / title transfer fees


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Old 31st March 2008, 08:50 AM
 
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Default thai land ownership / title transfer fees

I have heard that foreign land ownership is to be allowed up to 1 Rei
Can anyone confirm this ??


Also that title transfer fees are to be abolished or at least reduced drastically.

Thank you in anticipation.

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Old 1st April 2008, 12:55 PM
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Thailand is for Thais , you cannot own land in Thailand .

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Old 13th August 2008, 07:37 PM
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I too have heard of such legislation, yet it never seems to become reality...

There are ways, some good, some bad...

Just last week a bad one: British man's Thai boyfriend beat and stabbed to death the husband. Seems that he had taken about 300,000 Euros, built a house, resteraunt and guest house all in his wife's name. She found a boyfriend, sold the property, took the money. The husband was suing for divorce (whereupon he would get back 1/2 value) so boyfriend beat and stabbed him to death. (google it if you wish)

And that is not quite as bad as the family that killed the expat, roasted him and fed him to the Royal Tigers at the zoo....

Methinks that giving all one's money to one's loving wife is not such a good idea in Thailand....

As of now I think that if you set up a corporation you can hold up to 39%, of course you can give the money to your wife with a 30x2 lease (30 year lease, renewable) but that has tax ramifications...just be careful

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Old 18th August 2008, 04:19 AM
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It would go a long way to alleviate a major grievance that foreigners have. I don't want to buy 10's of acres of arable land. I only want enough to build a 2-3 bedroomed house on. I can not see it happening though.
I have my house now and the missus will get the land rights soon, then she will lease them to me for 30 yrs x 2 .

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Old 14th July 2009, 06:08 PM
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Hundreds of thousands of arable land is now owned by Asian in America but we cannot buy one square meter. (Yes there is the small lot talk--but that never seems to happen).

There are ways, some more legal, some less and then there is the "wife owns land" "I own house" In the above mentioned story which is real the wife's boyfriend simplified the leasing arrangement with repeated application of a heavy stick.

Get a really good lawyer (if that is possible) and be careful.

There is another story, a true one (googleable) of the wife's family chasing the husband and eventually shooting him with an ancient musket which blew up. Undaunted they finished the chase with the ubiquitous weapon called heavy sticks. To hide the body they cut it up and dropped it off at the National Reserves where the Royal Tigers appreciatively enjoyed the white meat. Of course, forensics revealed the remaining bones as non-asian and it did not take a long time to find the murderers.

You can buy a condo, as of course, you do not own the land under it...

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Old 14th July 2009, 06:31 PM
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You can also buy the house and use a USUFRUCT (spelling?) to protect the land for your lifetime. To be positively safe the USUFRUCT should be in a 3rd parties name also, not just the husband/wife - like one of the kids, and aunt, whatever (this bars it from an marital property issues in divorce court). USUFRUCT is a legal instrument (and free except for legal costs and tax based on how much the USUFRUCT was charged at - so that's x% of nothing) that grants the right of the USUFRUCTee total access to the poperty and all its produce (i.e. anything that grows on it) - in fact the only right you do not have is the right to sell it. If it is sold by the owner, the USUFRUCT would transfer too (its held with the land registry office) - a prospective buyer would know this before sale, so is unlikely to buy it anyway. It lasts for the lifetime of ALL the USUFRUCTees (another good reason to add an offshore relative and your kids to it!)

Basically, you don't own the land, but you have as much use as if you did and nothing can move you (short of the Gov. compulsory buying the land that is). It will also be safe legally as its what banks use when mortgaging land to farmers to protect their produce from greedy bankers - as they are the majority voters, its unlikely to be removed from statute!

Just another option.

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Old 27th July 2009, 08:31 AM
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Default Foreigner Can own 1 Rai

Well as i work with properties in this country, i can tell that foreigner can own the land in thailand if he invest more than 40,000,000 THB. But it not means that you should have company here and buy property for this amount. You need to create work places for thai people (for example open factory) so for this case you can get 1 rai of land. But here is one more thing, that if you'll close your factory after one or two years, you'll lose the rights to the land. Factory should work at least 3 years.

All law sound like this:
If you are a foreigner there is only one case were you can be allowed to own land freehold for residential purpose. If you invested over 40 million Baht in Thailand you may be allowed to own freehold up to 1 rai of land for residential purpose only providing that you fulfilled the following requirements: To bring at least a forty-million Baht investment into Thailand (not including the amount invested into the purchase of the land) to be used for an investment that benefits Thai economy, promotes social welfare, or is a business promoted by the BOI. Furthermore, the money must be invested in Thailand for a minimum of 3 years. If you fulfill all this conditions then you will be allowed to purchase and own freehold up to 1 rai of land (1,600 SQM) in designated area such as in Bangkok, Pattaya, municipal areas of all provinces, and areas designated as residential under the City Planning Act.

Regards
Mindaugas.

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Old 27th July 2009, 08:02 PM
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Quote:
Originally Posted by Mindaugas View Post
Well as i work with properties in this country, i can tell that foreigner can own the land in thailand if he invest more than 40,000,000 THB. But it not means that you should have company here and buy property for this amount. You need to create work places for thai people (for example open factory) so for this case you can get 1 rai of land. But here is one more thing, that if you'll close your factory after one or two years, you'll lose the rights to the land. Factory should work at least 3 years.

All law sound like this:
If you are a foreigner there is only one case were you can be allowed to own land freehold for residential purpose. If you invested over 40 million Baht in Thailand you may be allowed to own freehold up to 1 rai of land for residential purpose only providing that you fulfilled the following requirements: To bring at least a forty-million Baht investment into Thailand (not including the amount invested into the purchase of the land) to be used for an investment that benefits Thai economy, promotes social welfare, or is a business promoted by the BOI. Furthermore, the money must be invested in Thailand for a minimum of 3 years. If you fulfill all this conditions then you will be allowed to purchase and own freehold up to 1 rai of land (1,600 SQM) in designated area such as in Bangkok, Pattaya, municipal areas of all provinces, and areas designated as residential under the City Planning Act.

Regards
Mindaugas.
Mindaugas,

Can I borrow THB40,000,000.? I want to get my 1 rai of dirt so I can employ a bunch of Thai people. Again, go back to my "enthusiasm" for lawyers. All that gibberish aside, farangs can come to Thailand, bring the fruits of their life's work [money] invest in a good Thai business, marry a Thai woman and support any children you may have. You can even buy an overpriced condominium but, like the Philippines, you can't own one square centimeter of land. Unless you have THB40,000,000. And who, pray, do you think wrote all those laws taking way everyone's rights? You guessed it, lawyers. And we're supposed to love them?

Do you know what they call 50 lawyers buried to their necks in sand? Not enough sand.

How about 5000 on the ocean floor? A good start!

Do you know why lawyers swimming in the ocean are never attacked by sharks? Professional courtesy.

Sorry for the rant but I'm in the William Shakespeare club when it comes to lawyers. What did the bard say? "Kill the lawyers".

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Old 28th July 2009, 12:06 AM
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Quote:
Originally Posted by Mindaugas View Post
Well as i work with properties in this country, i can tell that foreigner can own the land in thailand if he invest more than 40,000,000 THB. But it not means that you should have company here and buy property for this amount. You need to create work places for thai people (for example open factory) so for this case you can get 1 rai of land. But here is one more thing, that if you'll close your factory after one or two years, you'll lose the rights to the land. Factory should work at least 3 years.

All law sound like this:
If you are a foreigner there is only one case were you can be allowed to own land freehold for residential purpose. If you invested over 40 million Baht in Thailand you may be allowed to own freehold up to 1 rai of land for residential purpose only providing that you fulfilled the following requirements: To bring at least a forty-million Baht investment into Thailand (not including the amount invested into the purchase of the land) to be used for an investment that benefits Thai economy, promotes social welfare, or is a business promoted by the BOI. Furthermore, the money must be invested in Thailand for a minimum of 3 years. If you fulfill all this conditions then you will be allowed to purchase and own freehold up to 1 rai of land (1,600 SQM) in designated area such as in Bangkok, Pattaya, municipal areas of all provinces, and areas designated as residential under the City Planning Act.

Regards
Mindaugas.
Yes Mindaugas I believe you are correct - It used to be just 3 million (thanks Mr Thaksin for the removal of this avenue!). I believe under Amnity American's (yes you S2) have it somewhat easier, but more paperwork. I also believe BOI approved company can purchase he land with 100% foreign ownership (company name, not personally held).

The issue is, as always, why only 1 Rai? Why in designated areas (herd us up?)
The law could easily be made fair and still protect Thailand from greedy land speculators - a single piece of land for the sole purpose of primary abode - i.e. you can buy the land as long as its only one piece and you live on it (possibly with a high tax charge if you sell within x years to stop it being used as an avenue to buy an sell land)).

However, this will never happen whilst the media and authorities continually expouse and exagerate the negatives of us farang here whilst playing down (or simply just ignoring/lieing about) any positives for the Thai economy and people. Until we stop being the scapegoat of mismanagement and policy failures, the general Thai populous will never see us as more than a leach on their society - and fair laws will never by popular enough to be other than against us.

The next few years will be interesting times for us, with exports down (except for rice to China! - or is that coals to Newcastle), export competition at an all time high, tourism at a 50 year low and an exchange rate so comparatively (to traditional importers and tourist countries) high that it can not hope to improve; with foriegn companies and factroies scaling down or pulling out and expat numbers (of the business and skilled variety) going home in droves; with neighbouring ASEAN countries throwing their doors open welcomingly to our money, experience, accumen and enterprise. Thailand will have to wake up and smell the coffee - otherwise that hub-of-everything (and wealthy national status) Mr T promised Thailand, will go to its neighbours and Thailand will shrink back into nationalistic isolation; yesterday's tourist mecca and a dead dragon.

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Old 28th July 2009, 12:17 AM
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Quote:
Originally Posted by airpilot222 View Post
I have heard that foreign land ownership is to be allowed up to 1 Rei
Can anyone confirm this ??


Also that title transfer fees are to be abolished or at least reduced drastically.

Thank you in anticipation.


airpilot222,

I think it's like the Philippines. You can rent every square inch of every island in the Philippines [over 7000 islands] but you can't own one square inch - even if married. With your wife you can but when you and she split it's her land and you're gone. There are dodges around that discussed here but in the end they are dodgy. You CAN own and overpriced condominium since there is no ground that goes with ownership. That said, for the last umpteen years, the legislature is "talking about it". And 20 years from today they'll still be talking about it.

I wonder what would happen if every farang, on the same day, decided to leave Thailand for a more hospitable destination. The country would probably see a major economic meltdown.

Serendipity2

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