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Time : 05:17 Friday 2nd October 2020 |
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Bizhouse Property - The Real Estate Professionals in Pattaya
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| Luxury Private Pool Villa with Natural Surrounding in Pattaya |
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| FINANCING |
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| CUSTOMER TESTIMONIALS |
I am writing to you to thank you for all the help you have given me in the past, from buying my house and selling it.
You made me very comfortable in every step of it all. You had a good knowledge of the laws and how to break it down to me,
in a way I like doing business; I enjoy the personal touch and you provided it.
All the people in your offices were friendly and polite, so when I am looking for a house again in Thailand, I
will be only using you and your company.
Thanks for everything.
Scott M
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| LEGAL REQUIREMENTS |
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Legal Documents
The rules regarding property purchase in Thailand are different to many places in the Western world in that a Foreigner cannot have a land's title deed under his or her name.
The law does however allow them to do one of two things to secure the use of the land that the house is sited on.
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Land Lease
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| Lease the land for 30 years with an option to have the lease extended for another 2 30-year terms, giving the foreigner a total of 90 years.
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Corporate ownership of the property
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Corporate structures in Thailand are similar to that of the British. PLC, LLC, Ltd partnerships and other corporate entity types are allowed by Thai law.
Once formed, they are considered a "Juristic Person" or a legal entity.
A Juristic Person in Thailand that has a Thai majority and owns land within a legal structure is viewed, in terms of property ownership, as a Thai person and therefore may own property.
Keep in mind that equitable ownership does not mean actual control of the Juristic person. The Limited Liability Company (LLC) is the most popular form of corporate land ownership.
Control of the LLC
The law of Thailand allows the issuing of two-tiered or classified stocks. This means that LLC shares can be an "Ordinary Share" where the owner of the share is allowed one vote or a "Preferred Share" where one must have multiple shares in order to get one vote. The Thai majority of the company may be given Preferred shares while the foreigners have Ordinary shares. This way, foreigners will hold a fewer number of shares but have control of the company because of their voting rights.
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© BIZHOUSE Co., Ltd. 2011 |
Tel : 038-416-322 |
Fax : 038-416-321 |
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