Safeguards for property owners in Thailand

Are there any guarantees for property owners in Thailand? There is a perception that everyone in this country has the king and with his desire any house can be demolished or taken away from the owner.

All of this is exaggerated and exaggerated. Undoubtedly, the king in Thailand is the highest people. For his insult, and even for damage to his image may be criminal liability. At the same time, Thailand is a secular state. The king is well aware that unpopular measures could scare off investors. And the lion's share of the country's income accounts for capital employed in the form of tourists and foreign investment. Therefore, the apparent injustice of foreign owners, developed a whole system of measures aimed at the preservation of rights to property in Thailand.

If You bought a condominium in Thailand, You will own 49%. The remaining 51% is owned by the king. However, this applies to the condominium as a whole and not separate apartments. Therefore, foreign owner can provide documents that confirms the right to property.

If you are purchasing commercial property, you should purchase the company. Foreigners can own only 49% of the company. For the protection of property rights, he immediately issued a "Golden share". It gives the right to a decisive voice in all decisions. That is, de facto, you will own the whole property, although de jure control packet is not you. A separate form of guarantee to a foreign owner, is an official denial of the Thai partners from any property withtasani. It is made at the stage of registration of the company.

Finally, the alien acquires commercial property or a Villa in Thailandissued a so-called Usufruct. It is a lifetime lease on the land. It is given for a period of 30+30 years. So initially You get the right thirty-year lease. At expiration – priority extension.

In such lease agreements specifically provide for an opportunity to use all property located in the territory of the leased area, including the Villa.

At the conclusion of the acquisition of real estate in Thailand , be sure to use the services of an experienced attorney. Otherwise, you can lose a lot more than a few thousand baht, which constitute the cost of the services of a lawyer.