Thailand abounds with beautiful and exotic islands. The most renowned being Phuket, the pearl of the Andaman sea. More and more foreigners consider acquiring properties in Thailand either to settle permanently or simply for a holiday getaway.
Purchasing or renting a property in Thailand
involves many factors. There are a number of considerations to make before committing to avoid potential pitfalls. Our property lawyers are here to guide you through property investment, buying, renting or leasing on Phuket Island for a residential or commercial purpose.
Please feel free to contact us for additional information or assistance.
Buying a property
Buying a condo
Become a freehold condominium owner in Phuket
Buying a land
Find the solution to acquire a land in Phuket
Buying a house
Enjoy more space, find the way to own a house in Phuket
- Title search
Examining public records to determine and confirm a property’s legal ownership is important for your own protection.
- Contract review
Conducting a contract review ensures that the sale will take place without any problem and prevents any fraud issue in the future.
- Due diligence
Finding out the status and history of the property you intend to buy will prevent any potential fraud from a dishonest owner.
- Transfer of property
A transfer of properties from an owner or a developer to a buyer may involve certain taxes and transfer fees. Conducting the transfer on your behalf or accompanying you to the land office ensures that your rights are protected.
- Property taxes
Property taxes apply to lands as well as condominiums, buildings, houses or villas.
Solutions to acquire a property
Purchasing a leasehold property gives more alternatives concerning the types of properties available that will match your goals and ideas.
A maximum of 30 year lease can be granted, after which the property returns to the original owner. However, the lease can be extended at the end of the initial period.
A superficie is the right to build on another person’s land, it can be granted up to a 30 year renewable period. In Thai legislation, a right can be created in your name to use land and build upon it without being the owner of the land.
Foreigners who want a home of their own or developers may find this option especially interesting as it’s an inheritable right.
A usufruct is the temporary transfer of ownership rights from one person to another for the use and enjoyment of the property. A person can also make a profit from the property through a usufruct.
Contrary to superficies, The usufruct is not transferable by inheritance. It is automatically terminated upon the usufructuary’s death.
A purchased property can have no open and free access to it and the only way to get to the property is to obtain a right of way from an owner of a surrounding property. It is called right of servitude and it has to be registered.
A mortgage is an agreement in which a financial or lending institution lends a specific amount of money at interest to a person or a group of people for the purchase of a property. There are a few mortgage loan options available for foreign buyers, but a number of requirements are asked. Our property lawyers can figure it out for you.