i-site Koh Chang Property Legal Notice

This document is intended to provide some basic and simplified information about buying Property in Thailand.

i-site Koh Chang have no legal qualifications, nor are we a real estate agent. We act only as an intermediary between the land owner and prospective buyer. Proper legal advice should be sought from other sources, before engaging in any real estate transaction.

The main Property law in Thailand is straight forward.

Foreigners can NOT own land

 

 

 

However, you can own a unit in a condominium and that seems to be a much easier option, if you want to own Property in Thailand. Not more than 49 % of the total space in a condominium can be owned by foreigners. The seller should provide documentation that no more than 49 % of the building space is owned by foreigners.

Leasing land and a house is also possible. However, the maximum duration of a lease of Property is limited to 30 years. Contrary to what is often mentioned by real estate agents, there is no law that guarantees automatic renewals of a lease. So, just think of 30 years ahead only, and try to be happy with that.

If you do buy or rent Property in Thailand foreign currency must be transferred to a Thai bank. The bank should be advised clearly about the purpose of the money and a foreign exchange transaction certificate should be requested.

It is clearly indicated here that you search for INDEPENDENT legal advice before entering into any Property transaction. The legal help suggested by agents, sellers or your favourite barman will just not do.

For much more elaborate information about Property laws we recommend you consult a respected Property lawyer in Bangkok or Pattaya.