About Real Estate Law in Hua Hin, Thailand
Real estate law in Hua Hin, Thailand, is governed by the Land Code Promulgated, the Condominium Act, and the laws on Lease and Hire of Property. Foreigners can't directly own landed property but they can hold a long lease or set up a Thai company to purchase properties on their behalf. They also can outrightly own condominiums provided Thai nationals own at least 51% of the condominium's space.
Why You May Need a Lawyer
Understanding the legal nuances for purchasing property in Hua Hin, navigational difficulties due to language barriers or unfamiliarity with local customs might necessitate the services of a real estate attorney. Any issues related to securing a good title, drafting a sales contract, obtaining necessary licenses and permits, and ensuring tax compliance are some of the common situations where legal help would be required.
Local Laws Overview
Thai law stipulates restrictions for foreigners in owning land or properties. However, foreign investors often opt for leasehold agreements or set-up a Thai Limited Liability Company to bypass these restrictions. For condominiums, at least 51% of the units should be owned by Thai nationals. Further, the Transfer of Ownership requires formal registration at the Land Department.
Frequently Asked Questions
1. Can a foreigner own property in Hua Hin, Thailand?
Foreigners are not allowed to own land but can lease it. They can own a condominium unit outright, provided that more than 50% of the building's total floor area is owned by Thais.
2. What is a Usufruct?
A usufruct is a legal agreement granting someone the rights to use and derive income from someone else's property for a certain period, often for the user's lifetime.
3. How long can a foreigner lease land in Thailand?
A foreigner can lease land for 30 years in Thailand and the lease agreement can be renewed at the end of this term.
4. Can foreign-owned companies buy land in Thailand?
If a company is more than 49% foreign-owned, it is considered foreign and cannot own land. However, if legal and substantial business activities are conducted and Thais hold a majority share, land ownership is possible.
5. What are the major taxes involved in purchasing properties?
Major taxes involved are Transfer Fees, Specific Business Tax, Stamp Duty, and Withholding Tax.
Additional Resources
The Department of Lands, the Ministry of Interior, and the Land Development Department are some of the governing bodies related to Real Estate in Thailand. For further reading, "Land and Property Law of Thailand" by Chris Smit can provide some valuable insights.
Next Steps
If you need legal assistance in real estate in Hua Hin, it's recommended to hire a qualified attorney who is well-versed in Thai property laws. The lawyer will guide you through the legal processes like drafting and finalizing sales contracts, due diligence, and Transfer of Ownership proceedings. This will save you from potential legal issues and ensure a smooth personal or business investment.
Lawzana helps you find the best lawyers and law firms in Hua Hin through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Real Estate, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
Get a quote from top-rated law firms in Hua Hin, Thailand - quickly, securely, and without unnecessary hassle.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please
contact us, and we will review and update it where appropriate.
