Property Rental Laws in Thailand

Property Rental Laws in ThailandWhen expats retire in Thailand they tend to rent the property first to ensure that they like the area. This is normally included in the rental agreement being an option to buy the property after a certain period of time. Some do opt to buy property in Thailand but the majority of expats tend to rent in Thailand. If you are buying property then speak to a lawyer in Thailand about this so that they may check the title deed and other issues which are important.

Always opt for a due diligence report on the property if you are buying. Now before settling on a particular property for you to rent, you must consider a number of things first. These are what expats and investors in property normally consider when renting or investing in property in Thailand. This will help you decide whether the property you “like” to rent is the “ideal” place for you.

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Types of Title Deeds in Thailand

Types of Title Deeds in ThailandIf you are foreigner who is planning to purchase land in Thailand, you must understand that normally, you are not allowed to own land under Thai law. The term used here is “normally” because there is an avenue wherein a foreigner can own up to 1600 square meters (10 Rai) of land in specific residential areas and you have to satisfy the Board of Investment criteria that you will invest at least 40 million Baht and be approved by the Ministry of Interior. Yet, this option is like passing through an eye of a needle and the land, if successfully acquired, is not transferable by inheritance therefore it is not viable nor practical for you. Even then, foreigners should know about title documents in Thailand can be divided into four (4) categories. You can determine what type of title document you are looking at through the color of the Garuda, a mythical bird creature, which is used as the national symbol of Thailand and being printed on Thailand title deeds. Note that before you buy property in Thailand to always consult a lawyer. Always ensure that you have a due diligence report in your hand before you sign any agreement to ensure that you get what it is that you are wanting as property scams are not uncommon.

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Buying a Condo in Thailand

Buying a Condo in ThailandAmidst all the complexities of property  law for foreign buyers, there are some areas which are less restrictive. Foreigners are permitted to own outright up to 49% of a condominium building. This made the property market even more direct and since foreigners are generally not permitted to own land, condominiums are among the best option for them. Added to the upswing of the condo market is the identification of foreigners on Thailand as their ideal place to retire.

Titles of condominiums in other countries like the United Kingdom may be similar with that of Thailand’s and so with ownership rights too. But even with these similarities, as a foreigner, it is highly advisable for you to take the three steps to safeguard your interest, your investment and your family.

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Real Estate in Thailand

In the past, foreign investors were permitted by Thai law to acquire properties. They could acquire land without any prohibition. As a result, there were foreign investors who were able to acquire land. Currently, foreign investors are not proscribed from acquiring real estate properties except for land. They can acquire Thailand Real Estate such as Thailand property and Thailand Condominiums on certain conditions prescribed by law.

Real Estate in ThailandAs stated earlier, foreigners are not capable of acquiring land. Nonetheless, there are modes by which they can acquire not in the concept of an owner. First, a foreigner can set up a Thai company to hold the property in freehold title. The Thai company must be operating and doing business in Thailand and must have the minimum requirements of shareholders. Second, an applicant may use the leasehold structure for 30 years. This is one mode of acquiring Thailand property. With respect to commercial and industrial lots, the lease has duration of 50 years renewable for the same term. Third, an applicant can register any property rights by virtue of usufruct.

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Jobs in Thailand

Foreigners are sought for various employment opportunities such as Teachers specially in the English language who make around 40,000 Baht a month. Computer and IT professionals who have got experience ranging from coders to designers, webmasters and editors.  Another popular requirement is that of employees for media and editing jobs. The Bangkok Post and other media hire a few writers-editors for their companies.

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Starting a Business in Thailand

Starting a Business in ThailandThe low cost of living in Thailand is attracting many people to its soil. As the Thai government eases restrictions on foreigners so that they can visit the country as well as retire there if desired. Many people come to this country with skills that are acquired in their native countries and which are in high demand in Thailand. There are many fields of work in which Thailand welcomes foreign expertise such as Teaching and Writing in English and various other languages, Information Technology and Computer work, International Cuisine, Experts in International laws, the Entertainment and Music industry and in Engineering jobs where special expertise (such as Skyscraper construction and architecture) are required.

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Business Visa for Thailand

Business Visa for ThailandAs the tourist boom in Thailand brings visitors from all parts of the world, the population in Thailand is also increasing steadily. Many of these foreign nationals choose to stay in Thailand. Some of these business people may be there for one trip, but most require repeat trips. The visas are customized according to the work carried out and the number of types the business person can go in and out of Thailand.

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