Property ownership in Thailand is not so unlike other countries. It may seem a little complicated to a few, as many people have their own interpretation on current laws, this has then lead to confusion for the buyer. Amendments to property law have varied slightly over the last few years, but these changes have always been to protect the consumer and install confidence. We try to simplify ownership to our customers and explain how easily it can be achieved, as detailed below.

Freehold ownership
Freehold ownership can be granted to a foreigner if they buy into 49% of the allocated foreign quota, in any particular condominium development. When purchasing this type of property, funds should be remitted from abroad and correctly recorded through a Thai Bank by means of a certificate called tort tor sam. The owner will then own the unit outright in their name for an infinite number of years.

A foreigner can also own a freehold structure built on a parcel of land in their own name, which will be registered at the local land office. The ownership of the land it sits on can only be owned by a Thai entity, either an individual or corporate. This land can be leased by a foreigner for a maximum period of 30 years. Many people have this agreement extended a further 30+30 years, in total 90 years. This can be easily arranged through good lawyers, who can also in the event of a change in property law stipulate the chance to acquire the land as freehold.

Leasehold ownership
Leasehold ownership is granted when either buying into the leasehold allocation of a condominium development or a parcel of land. In both cases the term is registered for a maximum period of 30 years, with options to extend for another 30+30 years, in total 90 years. Again this can be easily arranged through a good lawyer.

Land Titles
There are several types of land titles in Thailand, but we only list properties which are the most secure, Chanote, Nor Sor Sam Gor or Nor Sor Sam.

Chanote
Chanote ownership is the best type of land ownership available. The land is surveyed by means of GPS to ascertain the exact boundaries. The entity or person who owns the land has the legal right to it and this is detailed on the certificate. Many investors look to purchase this title as a variety of construction options can be applied.

Nor Sor Sam Gor
Nor Sor Sam Gor ownership means the owner can sell, lease or mortgage and build upon it. The owner can also apply to upgrade this title to Chanote.

Nor Sor Sam
Similar to the above, however the formalities to the right of use have yet to be completed. If a transfer is due, you must publicly post the intent before the status can be officially registered.

Property Acquisition Taxes and Fees
There are of course just like every other country taxes when buying and selling property in Thailand, in particular the following:

Stamp Duty
0.5% - on all purchase/sale of property in Thailand.

Transfer Fee
2.0% - Paid at the local land office and is normally shared 50/50 by both parties.

Specific Business Tax
3.3% - This is normally paid by the owner who has been in possession of a property less than 5 years.

Below is a general list of types of visas
+ Tourist Visa Exemption (up to 30 days)
+ Tourist Visa (not exceeding 60 days)
+ Non Immigrant Visa: There are a variety purposes such as performing official duties, conducting business, or studying
+ Category O with multiple entries ( 1 year Visa): Pension earners or Applicants over 50 years of age with supporting documents.
+ 3 Year Non Imigrant Visa ( Type B with multiple entries): Foreign citizen who wish to do a business in Thailand may apply for a 3 years non-immigrant visa, Type B with multiple entries.
+ Retirement Visa: Foreign citizen aged 50 or above wishing to stay for the period of one year.
*** For further information please view at www.thaivisa.com***