buying land right now

Hi,

it does not look to be a good time to buy land for a foreigner.
I would still like to find out about prices of plots or brokers who have lots, at least half an hour out of pattaya not to far from the sea. size, well it matters although not yet.
info will be appreciatet.

MaX

Land Purchase

Thinking of buying land or purchasing property in Thailand? Our American-managed law firm specializes in assisting foreigners buying land or property in Thailand throughout the entire purchase procedure.

Many foreigners wish to buy land or property in Thailand but they don't know how to get started. To buy land or property, there are specific legal issues relating to foreigners purchasing land or property in Thailand. Our lawyers, experts in Thai property and land law, can assist you in your purchase. We have licensed lawyers who have been assisting foreigners to purchase land and buy property in Thailand for over 20 years. Our experienced and friendly staff will take care of all your legal needs, letting you focus solely on buying land or property in Thailand and achieving your objectives.


FAQ's:
1) Are foreigners allowed to buy land or purchase property in Thailand ?
2) What are the different ways of buying or owning land or property in Thailand ?
3) How does a limited liability company allow foreigners to buy property?
4) I am an American and I have heard that I can be a 100-per-cent owner of a company in Thailand under the Amity Treaty. Am I able to buy land or purchase property with this Amity Treaty company then?
5) What are the different types of rights to private land?
6) How do land mortgages work in Thailand ?
7) What are the advantages and disadvantages of forming a company for the purposes of owning land?
8) Can I have a Thai national buy land or purchase property in his name and have this person execute an agreement that the land is held for my benefit?
9) I am buying land in the provinces outside of Bangkok. Should I hire a local law firm or a Bangkok-based law firm to help me?

1) Are foreigners allowed to buy land or purchase property in Thailand ?
According to the strict letter of Thailand land law, foreigners are, in general, prohibited from buying freehold land in Thailand. However, there are various exceptions in the law regarding this issue. There are also other methods available for acquiring ownership interest in buying land or property in Thailand.

2) What are the different ways of buying or owning land or property in Thailand ?
2.1 Investment/BOI: Thai property law may allow foreigners to own a limited amount of land based on investment of 40 million baht or more, provided that the land is used for residential purposes. Additionally, foreign companies may be able to purchase land for a limited period if they have the approval from the Board of Investment (BOI). However, these methods are not convenient or satisfactory for most people interested in acquiring property in Thailand.

2.2 Leasing: Thai property law allows a 30-year maximum lease period, with the possibility of renewing the lease for another 30 years. This type of lease has become a favorite used by foreigners to own or buy land. We will work with you to draft the land and property lease, ensuring that it fully protects you and your land and property rights. One advantage of a lease is that it is fairly user-friendly and easier to maintain than forming a company. (Read more about Thailand land leases)

2.3 Company Ownership: A Thailand-registered company may either be тАЬThaiтАЭ or тАЬforeignтАЭ. To be a тАШThaiтАЭ company, more than 50% of the company must be owned by Thai shareholders (The remaining shares may be held by foreigners). This тАЬThaiтАЭ company may then legally purchase land or buy property in Thailand.

2.4 Thai Spouse: A Thai spouse of a foreigner may be allowed to buy land or property in Thailand in his or her own name. However the married couple may be asked to sign declarations at the Land Department to state that the property belongs to the Thai spouse, prior to registration. This may have the effect of waiving any claim on the land or property by the non-Thai spouse. This may become problematic in a divorce case as it may be difficult for the non-Thai spouse to prove that the land was marital property. In this case, a skillfully drafted prenuptial agreement may come in handy to minimize the risk to the non-Thai spouse. We specialize in prenuptial agreements and assisting foreigners and their Thai spouses throughout the purchase procedure of buying land or property in Thailand.

3) How does a limited liability company allow foreigners to buy property?
Buying property with a limited liability company is one of the most popular methods for foreign investors. This is because the Articles of Association can be written to allow greater protection for foreign minority shareholders. Thailand law generally requires that Thai nationals own a majority interest in a company if they wish to purchase land legally.

4) I am an American and I have heard that I can be a 100-per-cent owner of a company in Thailand under the Amity Treaty. Am I able to buy land or purchase property with this Amity Treaty company then?
No, an Amity Treaty company allows Americans to own a majority share in a Thai company and transact many, but not all, types of businesses. It does not confer the right to buy or purchase land in Thailand

) How do land mortgages work in Thailand ?
Land mortgages in Thailand must be made in writing and registered with the Land Department of Thailand. Mortgages do not include the buildings built on the land after the mortgage date unless they were agreed upon before the mortgage documents were signed. In addition, buildings and other immovable structures may be mortgaged separately and should be registered with the Land Department or local Amphur (province).

7) What are the advantages and disadvantages of forming a company for the purposes of owning land?
The main advantage is that it allows foreigners to acquire ownership interest in a freehold land in Thailand. Unlike land leases, the ownership is permanent as long as the company stays in existence and does not sell or transfer the land. Forming a company may make sense for people seeking to hold land for long-term or investment purposes, to provide for their future heirs, or for those contemplating doing business in Thailand. Also, with ownership, it is possible to mortgage the land and/or subdivide the land for resale. This is a right normally conferred by land leases.

Many foreigners consider hiring or using Thai shareholders to act as their nominees when using a Thai company to buy land. The main problem with Thai nominees is that once they become shareholders, they have legal share ownership of the company and are no longer "nominees". Although you can reduce the shareholders' control of the company, other mechanisms must be put in place to legally protect your interest.

The second issue to consider, before registering a Thai company to purchase land or buy property, is maintaining regulatory compliance of the company. Thai law requires balance sheets to be filed yearly and a company address must be maintained. Technically, inactive companies (companies not earning income) are subject to de-listing. Therefore, an active company is better for purchasing property or buying land in Thailand.

8) Can I have a Thai national buy land or purchase property in his name and have this person execute an agreement that the land is held for my benefit?
This is a risky approach because it is technically illegal for a Thai national to act as a nominee of a foreigner to buy land or purchase property. Therefore, the agreement may be illegal and as a result, unenforceable.

9) I am buying land in the provinces outside of Bangkok. Should I hire a local law firm or a Bangkok-based law firm to help me?
Due to the limited number of qualified law firms in these locations outside Bangkok, you may have problems finding one that can handle all your legal needs. If you intend to hire a local law firm, be sure that the local law firm you contact does not have a pre-existing working relationship with the seller and/or Land Department officials. Such law firms may be biased in their assessment.

Alternatively, Bangkok-based law firms can be retained to travel to the provinces to execute the land deal. You may feel more confident that the Bangkok-based law firm will operate independently and 100% in your interests.

http://www.thailand-lawyer.com/land_lease.html

Land Lease

Needing some advice on land leases in Thailand? Our Thailand-based law firm can provide you with the assistance required to deal with the legalities of land leases in Thailand.

For a foreigner, dealing with land leases in Thailand may prove to be quite a task. Registration procedures of land leases, maximum lease term allowed and lease extensions, pros and cons of land leases in Thailand тАУ these are some of the questions only an experienced law firm can answer. We have been specialists in land leases for over 20 years in Thailand. Our lawyers have helped many foreigners secure land leases with well-drafted agreements, and provided valuable advice for leasing land in Thailand. Let our expertise be your hassle-free path to land leasing in Thailand.



FAQ's:
1) Can a foreigner obtain 100% interest for a land lease in Thailand?
2) Do I have to register the land lease at the Land Department?
3) What is the maximum lease term available?
4) Why is land leasing favored by foreigners who wish to own property in Thailand?
5) What are the advantages of having a land lease over purchasing land with a company?
6) What are some of the drawbacks of land leases?

1) Can a foreigner obtain 100% interest for a land lease in Thailand?
Yes. A foreigner can obtain 100% interest for a land lease in Thailand. Unlike direct land ownership, the law allows foreigners to obtain long-term land leases.

2) Do I have to register the land lease at the Land Department?
Leases up to three years need not be registered but registration at the Land Department is mandatory for leases that are three years or more.

3) What is the maximum lease term available?
The maximum lease term available is 30 years, with an option to renew for an additional 30 years. Each lease renewal that is agreed upon with the landowner must be registered at the local land office. For each new registration, taxes will be levied. Land for industrial or commercial purposes may be leased for up to 50 years by a foreign company under certain circumstances, with the possibility of extending the lease thereafter.

4) Why is land leasing favored by foreigners who wish to own property in Thailand?
There are numerous obstacles faced by foreigners who wish to buy land or purchase property in Thailand. To avoid these obstacles, many foreigners choose to acquire land on a 30-year leasehold with an option for extension. This is the simplest and most straightforward way for foreigners to acquire property in Thailand. In addition, a lease stays valid even in the event that the property or the land is sold.

5) What are the advantages of having a land lease over purchasing land with a company?
A foreignerтАЩs lease rights are formally recognized by the Thai law. The land lease is executed and registered only once, after which very little legal maintenance is required. In comparison, a limited company has several shareholders who may have interests that are different from yours, and this could translate into potential risks for you and your objectives. Also, a company requires regulatory compliances such as yearly balance sheets to be filed with the Tax Department.

6) What are some of the drawbacks of land leases?
Even a well-constructed land lease and a separate option agreement to extend the lease between the landowner and the lessee cannot guarantee the timely renewal of the lease. A landowner may refuse to sign any registration for the lease extension beyond the 30-year expiration. Although the lessee can sue the landowner for breach of contract, the legal process entailed may be costly and time-consuming. Other drawbacks include the difficulty in obtaining a mortgage for a lease (as opposed to direct ownership); a lower resale value; and potential lawsuits from the landowner for lease violations.

Entering into a lease, or forming a company to buy land or purchase property - both methods have its advantages and disadvantages. It would be wise to examine your individual needs and obtain legal counsel from knowledgeable and trustworthy attorneys before you make a decision.

http://www.thailand-lawyer.com/land_lease.html