It is not possible for foreigners to own land in their own name in Thailand. So if your heart is set on a one of our properties, a villa with your own pool, landscaped gardens and maybe an ocean view - how can you own it?
The good news is, you do have a few options:
1. Lease your land and own your villa:-
This is the most common, simple and secure way to buy your villa in Thailand. Currently, the maximum length of a lease in Thailand is 30 years.
Usually, the seller will lease the land to you for 30 years with an option to extend for further 30 year terms at minimal cost. This effectively gives you a 60 + year lease.
Our leases contain the following clauses for your protection:-
1. We will pre-sign your lease extension when you buy your villa.
2. If you sell your property we agree to issue a new 30 year lease to your purchaser as long as all administration costs, taxes and land office charges are paid for by the seller / buyer.
3. Succession clause, the lease remains in force with regard to succession by inheritance or assignment of the lease to the heirs of the lessee.
4. Should Thai law change allowing a foreigner to own land in Thailand or should you wish to transfer the ownership of the land to a Thai national, then we agree to your lease being converted to freehold as long as all administration costs, taxes and land office charges are paid for by the property owner.
Your lease will be registered with the local Provincial Land Office and is completely secure.
Once you have signed your lease you can own any buildings constructed on the land in your own name.
2. Set up a Thai company
It is possible to own land and the property that sits on it through a Thai company set up but we would strongly advise anybody choosing this option to take good legal advice.
3. Thai Spouse / Friend
You may be able to purchase the land freehold in a Thai person’s name and register the building in the name of a foreigner but again we would strongly advise that you take good legal advice should you decide to go in this direction, to safeguard your interests should your relationship / friendship run into difficulties at some point in the future.
It’s important you keep all your legal documents in a safe place, so when you come to sell or renew your lease you know where they are - after all thirty years is a long time.
A developer in Thailand only has to provide you with a 12-month warranty on a new property according to the law in Thailand.
At Orchid Palm Homes we give a standard 1 year warranty but with a 5 year warranty on the building structure and a 10 year warranty on the swimming pool structure.
At Orchid Palm developments it has always been our policy to build smaller developments, to sell out and complete the development in shortest possible time; our developments to date have averaged 18 months from start to finish. On larger developments you may find your villa is in the middle of a construction site for the next five to ten years.
It is our policy to always advise clients to seek good independent legal advice before purchasing a property and we recommend that you should talk to your legal adviser with regard to making a “last will and testament” when purchasing property in Thailand.
To download a copy of our "Due Dilligence" letter, please Click Here