A few weeks ago, Thailand’s Prime Minister, Aphisit Vejjajiva, announced that indeed foreign nationals are not permitted to engage in rice farming or livestock nor own or lease any agricultural land pertaining to such industries. It appears this announcement came about due to some serious interest by investors in the Gulf region. The Gulf Co-operation [...]
Buying a Boat
With regards to residential and commercial investors, it seems that most overlook the risks or indeed the liability caused by landfill sites in Phuket. The province of Saphan Hin is now at breaking point as the licensed landfill is increasing daily threatening nearby mangroes and agricultural land. In most due diligence reports, and indeed environmental [...]
What You Need to Know Before Leasing Property in Thailand
Many foreigners end up extending their stay in the tropical haven that is Thailand. After spending a few months in cramped hotel rooms, a more desirable dwelling place is most often desired. However, since foreigners are not allowed to own immoveable properties in the Kingdom, taking on lease of houses, condominium units or apartments is [...]
What is a Tabien Bahn?
A Ta.Bian.Baan or Tabien Bahn or “house book” is an administrative document that gives the address of the house and states the persons who live in it. A Tabien Bahn could, but does not need to, state the name of the owner. There are 2 types of Ta Bian Baan: The blue Ta Bian Baan [...]
The Future of Property Tax in Thailand
It has been some months since we have last heard of the proposed Land and Building Tax bill that is currently being drafted by the Fiscal Policy Office. It was early in the year when the Finance Minister, Korn Chatikavanij gave the much anticipated announcement that the government is reassessing the impact of introducing this [...]
The Escrow Act B.E. 2551
The Escrow Act B.E. 2551 (“Escrow Act”) came into effect on May 20, 2008. The Escrow Act applies to any reciprocal contract; although, it is not mandatory to use the services of an escrow provider. Prior to the Escrow Act, there were no specific escrow regulations in Thailand. Rather, the parties used the laws of [...]
Superficies: An Alternative to Foreign Land Acquisition
Land ownership in Thailand is a right exclusive only to Thai nationals. This notwithstanding, foreigners desiring to acquire some lands are not left without options. There are a number of legally sanctioned ways to acquire interest over lands in the Kingdom. However, most foreign nationals are only aware of company structured land ownership and long [...]
Sale of Leased Property
Jenny leased a piece of property from Dennis. Dennis subsequently sold the property to Nina. What happens to Jenny’s rights to the property? The answer is that Nina will be bound by Jenny’s real lease rights only. Under Thai law, if land or immovable real estate property is transferred during the lease term, the lease [...]
Pre-Construction Condominiums: Investment Worthy or not?
Is it worth investing in pre-construction condominium projects? This question becomes even more significant in the recent surge of consumer cases against developers of uncompleted and stalled condominium projects in Thailand. If you are a potential investor, it is prudent to initially weigh the pros and cons as well as take into account mitigating measures [...]
How Do You do Due Diligence in Thailand?
Due diligence is defined in legal circles as the diligence reasonably expected from and ordinarily exercised by a person who seeks to satisfy a legal requirement or to discharge an obligation. In terms of purchasing property, due diligence refers to the care a reasonable person should take before entering into an agreement to purchase property. [...]
Holdover of a Leased Property
Jenny leased a piece of property from Dennis. At the end of the lease term, Jenny decides to remain on the property. How long can Jenny stay on the property if Dennis does not want Jenny on the property? The answer is two months or less. Should the lessee remain in possession of property after [...]
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