A brief guide for buyers...

How can I buy property in Phuket ?

(a) Foreign nationals may buy an apartment in a registered condominium.
(b) In buildings, such as a villa, house or commercial property.
(c) Registered leasehold of up to 30 years (+30+30) for all titled property.

Leases:

Foreigners may lease land or apartments for a maximum initial period of 30 years. It can be registered in their own name or in the name of a designated “offshore” company. It is common practice for a lease to be held in an offshore company, which can provide extra security and additional options in the event of re-sale. Lease contracts normally provide for two or more renewal terms of 30 years each, making the total term 90 years. This acquisition method of leasehold property is viewed the best legal way for foreigners to be in the Thai property market.

Condominum Apartments:

Thai law allows foreigners to buy condominiums freehold. This is based on total floor area being divided 49% foreign freehold and 51 % leasehold. A leasehold condo when sold would usually be transferred as leasehold. Condominium means an apartment building including the common areas that has been registered as a condominium under provisions of Thai law.

Title Due Diligence:

Title due diligence is suggested for all freehold and leasehold property purchases in Thailand. Foreign property purchasers should generally confine themselves to acquisitions on land titled Chanote (freehold) or Nor Sor Gor 3 (upgraded certificate of use). With a thorough due diligence completed by a competent local law firm, buyers should have no title concerns with their property.

Legal:

In addition to title due diligence we strongly recommend that you appoint a Phuket based legal firm to review all contracts to be entered into and to clarify Thai legal position on any matters. Upon request we can provide you with a contact list of local firms of which we are confident will handle your transaction with due care and professional attention.

How is land measured in Thailand?

Land is measured in Rai, Ngan and Wah.


1 Rai = 4 Ngan (1600 Sqm)
I Ngan = 100 Wah (400 Sqm)
1 Wah = 4 Sqm.
1 Acre = 2.5 Rai (approx)
1 Hectare = 6.25 Rai (approx).

Can I stay and live in Thailand?

Yes, you will need to obtain a Non-Immigrant visa. Non-Immigrant visas are issued at Thai embassies outside of Thailand and are valid for a 90 day stay. This visa may be extended while in Thailand for periods of up to one year at a time.

There are generally three ways to obtain and renew Non-Immigrant visas which are;

a) That you are employed and have a valid work permit in Thailand,
b) That you have a Thai wife/husband or family,
c) That you are over 50, retired and have an adequate pension or other financial means to support yourself.

A holiday visit visa issued upon arrival into Thailand is valid for 30 days and can also be extended for a similar period while in Thailand.



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