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 Description: Thai law stipulates that a foreigner may not own land in his name - he has the right of ownership of buildings only. If a foreigner wishes to purchase land to build a property he has 2 options:
The land is purchased on a 30-year leasehold, with an option to extend the lease for further 30 year periods. Possession of the land is assured by virtue of the fact that the property occupies the land. The lessor cannot seize the property upon expiration of the lease, as the property is separate from the land.
If a foreigner is going to operate a business in Thailand then he may purchase the freehold of the land through his Limited Company. The land will be owned by the Company, not the individual.
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| Resource Specification | | Date Added: | 30/05/2005 |
| Last Updated: | 30/05/2005 | | Author: | expat |
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