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When it comes to rent or lease of immovable property in Thailand foreigners have the same rights as Thai nationals. Lease of immovable property (land, house, condominium) for residential purpose is governed by Civil and Commercial Code (sections 537 to 571) and further specified by the Thailand Supreme Court. Foreigners are under Thai law allowed to lease real estate property for terms of up to 30 years. Whether it concerns a lease of an apartment or land and/ or house for residential purposes by foreigners there is no requirement of bringing foreign currency into Thailand, as opposed to buying a condo unit freehold or leasing commercial property under the ‘Hire of Immovable Property for Commerce and Industry by Aliens Act’.

The assistance of lawyers is crucial in the drafting, negotiation and implementation of these instruments. Lawyers are prepared to take clients through their rights and safeguards before acts are committed, or signatures are affixed. Expect lawyers to also explain to you all possible legal consequences which may result from an act. Essentially, proper lawyer consultation results in more learned decisions. Real estate or property law in Thailand is the area of Thai law that governs the rights of use, possession and various forms of ownership of immovable property (land, house, condominium). In this article a brief legal introduction to the most common real estate laws in Thailand.

In order to apply for one standard foreign employee’s work permit in a limited company the employer/ foreigner is required to submit the documents as listed below: Application form signed by the employee; Letter of employment from your company signed by the authorized Director of the company; Company Affidavit/ Certificate of Incorporation and a copy of the list of shareholders (copies signed by authorized director); Audit report, balance sheet for 3 preceding years. If you do not have this, we have to provide an explanation letter stating that the company is less than 12 months old. The authorized Director is required to sign this letter; Employee’s personal income tax declaration form or withholding tax form. A failure to show that tax has been paid correctly will seriously prejudice the employee’s work permit application; A written report stating the employee’s activities and declaration that the activities comply with the conditions stipulated in the work permit booklet. The authorized Director is required to sign this report; Map of the location of the company signed by the authorized Director.

Foreigners and foreign juristic persons may own an apartment unit in a building registered and licensed under the Thailand Condominium Act. Section 19 of this act governs foreign ownership of condos, which among others puts a limit on foreign ownership in a condo building and not more than 49% of all units in a condo project can be foreign owned. When the aggregate floor space of all units combined is 6000 square meters 2940 square meters can be foreign owned, or in case of 100 equal apartment units in one condo building up to 49 of the units can be foreign-owned, 51 or more must be Thai owned. In addition foreigners must qualify for ownership under section 19 which usually means that the foreigner must have brought into Thailand foreign currency at least equal to the total purchase of the condo and having exchanged this amount into Thai baht. The recipient bank inside Thailand will supply documents of the remittance and exchange of foreign currency and such proof must be submitted to the Land Department in order to register foreign ownership. It should be noted that foreign ownership is an individual personal right of the foreigner who qualified under section 19 and therefore foreign ownership of the unit is not transferable to another foreigner unless this foreigner (including foreign heirs) also individual qualifies for ownership under section 19 of the Condominium Act. We have helped a growing number of clients find the right lawyer for their specific case in Thailand. Using a lawyer requires both trust and reliability. That is why the lawyers in our partner program undergo an admission process to ensure our network only consists of the best English-speaking lawyers in Thailand. Our extensive network of lawyers helps us find the ideal lawyers for your specific case. Discover extra details on 3lawyersthailand.com.