Chaninat and Leeds assists clients in all areas of the real estate market in Thailand. Generally, investors come into two classes: Individual investors and Commercial Investors.
- Individual Investors
Due to the restriction on foreign ownership of land in Thailand, individuals are generally restricted to owning condominium units within the quota set aside allowed for foreign ownership, and in addition, foreigners are permitted to leases on real estate, minority positions in limited companies and other real estate rights such as Usufructs, rights of habitation, and superficies. Further, subject to conditions, non-Thai nationals can be the creditors of a mortgage of Thailand land. Further, Thai law allows certain inheritance rights for non-Thai nationals of Thai families to inherit land in Thailand.
- Commercial Investors
Commercial investors are normally relegated to being minority shareholders in limited companies holding land in Thailand. There are also provisions that allow for temporary foreign ownership of land pursuant to Thailand Board of Investment promoted companies.
In general, commercial investors in Thailand focus on the larger markets of Bangkok, Pattaya, Huahin, Phuket and Koh Samui. In recent years there has been rapid development of condominiums in the areas surrounding Bangkok’s MRT subway and BTS sky train stations.
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