How to Legally Acquire a House in Thailand as a Foreigner - Lawyers from FRANK Legal & Tax Explain
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- เผยแพร่เมื่อ 3 มิ.ย. 2024
- Detailed explanation on how to acquire a house in Thailand (landed property) as a foreigner with expert real estate lawyers Fabian Doppler and Mana Meerungruang at FRANK Legal & Tax. To learn more about how they can help you with your next property acquisition and other legal matters, contact info@franklegaltax.com or visit franklegaltax.com/
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00:00 How to lease a house (landed property) in Thailand
01:31 Due diligence
06:20 Contract review
08:08 Transaction handling
09:38 Fund transfer
10:43 Taxes and fees
12:00 Transfer of lease ownership
15:38 How long does all this usually take?
17:56 Legal structure of foreign-leased landed property
21:18 What happens to your lease agreement if the Thai lessor sells the property?
23:54 Can lease agreements be resold during the 30 year duration?
25:19 The reality of lease renewals (not like what is often advertised)
30:13 Your financial responsibilities while leasing the property
32:13 Ways you can commercially utilize your leased land
33:59 Can you sublet your leased property?
35:17 Can you setup a home office?
37:03 Other legal structures of foreign property ownership
40:17 Joint ownership with a Thai spouse - usufruct
46:09 Are a foreigner's property rights secure under Thai law?
50:50 Thoughts on recently announced property laws for wealthy foreigners
53:45 How to sell landed property lease in Thailand
57:30 Repatriating funds from a property sale
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If you enjoyed this video, you're going to LOVE my Complete Thailand Real Estate Guide for 2021 th-cam.com/video/Nc8WzQyUbwM/w-d-xo.html
Just, if I may say that it is quite frustrating to listen to these 2 lawyers....too much details about their " tasks to achieve completion of the contract. As a foreigner , we just need to know the overall procedure for our purpose
Great job Jett ! Very thorough and clear journalism.
Quick question that I didn't see addressed.
What happens after the lease is up? You own the structure (house), another person owns the land.
Do you forfeit the structure?
yes good question. I am thinking that the structure could then be sold to the owner or taken down and moved or sold. You would want this addressed in the contract.
Or lease again.
Thank you. Good detailed explanation. Very very informative
Excellent video, great detail, I've learnt a lot
After this (buying a home review), iI am even mỏe confused but appears if you buy a house, you will lose the house after the 30 year lease and the land owner or land owner heirs get a free house as the lease expires (unless u pay for for another land lease) and if foreigners do not own tbe lsnd, why pay property tax? .... the conversation made me even more confused
Thank you Jett!! This is awesome detailed information.
Glad it was helpful!
How to extend the Lease from the Lease holder ( ? Who would that be ) after 30 years ?
Question about due diligence: Does the land office keep flood records to check against potential flood risks?
Very informative - thanks!
will need to watch this!
I’d like to ask!
How much would be a lease cost ? In relation to a buy cost. Would it be calculated on a percentage of the sale value of the property ? .
Also how much would these legal services amount to ?
interesting topic....thanks for cheering....best place is to get some informations by lawyers specialized for real estate, and not real estate agent?
The video is very informative and useful. Thanks for producing it. I would like to raise a question about what if the landlord sells the property to someone else, would that affect the lessee's right in the lease? (given that the lease is less than 30 years and properly registered). My point is, would the selling of the property by the landlord invalidate the lease or Thai law would protect the lessee's right in the property? Another question is what would happen if the landlord gone bankrupt and the property is sold by a court order to repay the landlord's debt? Would the lessee's right protected by Thai law as well? Or do the lessee needs certain special clause drafted in the lease to protect his or her rights? Thanks a lot.
Jett, I would if I may to suggest on your next interview video of the similar subject , perhaps invite more experienced lawyer who have many experiences on dealing with foreigner buyers/investors ....
Personally I would not employ a Foreigner lawyer who has been living in Thailand for a decade and without official practise in Thai land property law.
A cook never reveals the “secret sauce”
These guys seem to be speaking in generality’s and answer questions without answering
JETT, You asked all the important questions as if a foreigner wish to own land + villa.....
Great job
EXCELLENT!
Renting is gold!
thks, too headache to buy property there!
Good job and informative. But, what happens to the structure that you built on the property. And the land owner doesn't want to renew the lease on the property. Who owns the beautiful building that you erected?
You address that in the contract. You build in an automatic right to renew the lease (max 30 years) which can be done twice giving you a total of 90 years.
Is there a book in english we can buy and read up .
Can a property be held in Trust if the trustee is foreign?
From my experiences of living in different parts of Asia I have found out it’s risky to do this. As a foreigner. Because usually they require a citizen of that country to own most of it on paper. Some do this by getting married. Which is another risk. Then what happens is that person can one day just declare it’s their property plus they are kicking you out! Or they want you to pay them cash to get them out of the deal. So you lose either way. It’s horrible. I know some guys that have gone through this. It’s a scam. That person who you think you can trust is actually already planning ahead for this in their mind. Then they wait after the deal is done. Then one day they spring it on that foreigner. “Bye Bye”. One case had the Asian woman he married actually already was married to a Thai guy! Then once they kick the foreigner out they as a couple get the house! Awful. Scary. Really think before getting involved in this. Do a lot of research. About the other person. Dig deep. As a foreigner possibly going into this.
Bloke must of been proper wet haha
@@MrTyrrell86 you'd be surprised how perfectly intelligent guys become putty in the female hands and believe everything she tells them. It defies logic as they wouldn't behave so dumb in their own country but come to Thailand and behave as though they had a lobotomy upon landing.
Thanks, Jett! This is a very informative deepdive. If you're doing another follow-up interview with these lawyers, can you also go into a deeper dive into the usufruct structure? For me specifically, I'd like to know whether it's open to non-spouses, and what are the rights of the foreign beneficiary who has paid for the land against the Thai who has legal ownership?
Great suggestion!
@@JettGunther what will the chances of the land office rejecting this. Good luck with that. I got put through the ringer with my usufruct and l’am married to a Thai.
All the videos still doesn’t answer the question. If foreigners can’t own freehold land in Thailand, can they do it under a company? We know Foreigners are able to own the house on top of the land solely in their name. It’s the question of trying to own the land (weather it be through a company )that escapes us.
Yes .... and no. A company can own land. A foreigner can be a director of the company which must be 51% thai owned. The company must, however, be engaged in a genuine business operation and not just used to get around the foreign property laws. Or one could end up losing the lot as this is being increasingly targeted and cracked down on.
There goes the American dream of buying a house in thailand
Very interesting!!! More of this. Perhaps from a Farang and Thai Spouse standpoint. Rights of the Farang should the marriage dissolve. Rights of the Thai spouse etc…
Maybe even from a gay couple standpoint. Thailand is a bit behind the power curve on marriage equality so the considerations are far more complex.
We touched upon this in this video. See the chapter marker for your topic: th-cam.com/video/R_RVuR5ZqVw/w-d-xo.html&ab_channel=JettGunther
@@JettGunther Yes. Thanks. Very very informative
Dobra wartość usługi jest najczęstszym niedostępnym produktem. czy to prawda? Po jakim czasie jest finansowane ubezpieczenie czasowe dla cudzoziemca, mam tymczasowe ubezpieczenie?
My take on leasing is you are paying rent up front for the first two thirty year periods but at the end of that period you may well lose that property, so you do not actually own it
Valid point. There is no guarantee that you can renew your lease term with 100% certainty.
“How to legally lease a house in Thailand long term”
One most important question : " Foreigners allow to own Land and build the villa " ?
I am interested in buying a property soon in Phuket could you gave me info to contact that firm
info@franklegaltax.com
How is leasing owning?
I’m in process of wanting to build a house on my Thai wife land she owns. A builder quoted $45.000. But I still need a bank account but before that I need to register our marriage there. Than open a bank account then wait 2 months to show money in the bank to get a marriage visa. Is the building of the house qualify as my investment as collateral to get visa. HELP I NEED INPUT!!!!!!!!
Contact the lawyer in this video
@@JettGunther ok what or how should I call. Email?
You’re leasing the place, you will never own it. In case of death you can forget transmitting anything to your beloved. Lease will dissolve immediately. Lost money.
Why would one try to own something in a country which forbid to do so?
All this mumbo-jumbo the fact is you cannot buy and you cannot own real estate as a foreigner. You can change the words around from buying or owning to leasing but the fact of the matter is you don't own and you don't buy.
I'm about a quarter way through this and so far finding it clear as mud. Why do these two guys act and seem like they are caught in the gun sight, so to speak, or at minimum very sketchy. Too much stuttering going on. And too many "you knows" being said. It almost makes you think any type of land deal there is such a slippery deal it has to be handled by serpents. That are very good at saying something and saying nothing at the same time.
typical lawyers then
Its to bad this would help boost business tourists to thailand but how the legal documents policy rules and regulations just makes it too complicated when it shouldn't be.
#1 downfall trusting & greed
YOU THINK THAILAND TOURISM NEED TO BE BOOSTED??? they made those rules to avoid their land to be owned by foreigners on purpose, we should appreciate that,
I'm sorry to say but this video wasn't very helpful because the guest on the left I could not understand what he was saying
this subject of Leasing is very much a grey area and I am surprised that you are trying to suggest it is safe and that people should follow your way if they decide to do it. There is not any way to do this that is safe. Trying to cirmcumnavigate the Law this way is done by lots of foreigners and it works out perfectly fine for most as enforcement here is pretty lax............but that doesn't mean it is safe. It is fraught with potential problems to the point where unless you can afford to lose your investment you should really give leasing a wide berth. Just plain old renting is safer.
I think you are confusing leasing with the grey area practice of ownership via an inactive Thai registered company.
Leasing / leasehold agreements are perfectly legal and enforceable by Thai law. This entire video, along with all of my videos related to property ownership structures, explicitly state how to legally occupy landed property as a foreigner. The first 10 minutes of this video here sum up as clearly and succinctly as possible the various legitimate ownership structures in Thailand th-cam.com/video/gadpcWDbIyU/w-d-xo.html
Their English language skill is below par
This is not an option I would even consider