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Commercial Real Estate Law in Taiwan governs all affairs related to commercial properties, which comprise office buildings, shopping centres, hotels, and industrial properties. In Taiwan, both nationals and foreigners can legally purchase commercial real estate, but specific regulations determine how property transactions proceed. Several laws, such as The Land Act, The Condominium Administration Act, and The Building Act, play a crucial role in shaping the dynamics of commercial real estate in Taiwan. These laws provide protection to property owners, tenants, sellers, and buyers and seek to ensure transparency and fairness in all real estate transactions.
There are several instances in which the presence of a lawyer can be invaluable in commercial real estate dealings. Firstly, the legal perspective is required during the purchase or sale of a property to navigate through agreements, contracts, and legalities. A lawyer can also help in securing or providing finance and loans related to real estate. Facing disputes involving leases, landlord-tenant issues, rent reviews and evictions also warrant a lawyer's expertise.
The crucial laws governing commercial real estate in Taiwan include The Condominium Administration Act that provides for the rights and obligations of the owner and outlines procedures for managing common property; The Land Act that regulates the buying and selling of land; The Building Act that oversees the construction, modification, and demolition of buildings. Real Estate Service Act governs the licensing and regulation of real estate agents, whereas the Town and Country Planning Act dictates the development and use of land in urban and rural areas. It is important for anyone involved in commercial real estate to have a foundational understanding of these laws and related regulations.
Yes, foreigners can purchase commercial real estate in Taiwan. However, certain restrictions and extra procedures may apply, depending on the type of property and the country of origin of the buyer.
While it is not mandatory to use an authorized agent, it is advised because of their familiarity with local laws and market conditions. They come under the purview of Real Estate Service Act, ensuring that all transactions are legally compliant.
Common issues include disputes regarding leases, eviction proceedings, zoning issues, price-setting, property rights and disagreements about contractual terms.
If a lease agreement is violated, it may lead to legal action. The repercussion can vary from financial penalties to eviction, depending on the severity of the violation.
Yes, the Taiwan Legal Aid Foundation provides assistance to those unable to afford the legal fees associated with real estate issues.
The Real Estate Brokers Association in Taiwan oversees the operations of real estate agents.
Yes, taxes applicable on commercial real estate transactions include land value increment tax, business tax, and house tax.
Yes, you can lease your commercial property to a foreign company subject to complying with local laws and regulations.
The Condominium Administration Act and The Land Act provide numerous rights to commercial tenants, such as right to peaceful enjoyment without interference, right to a safe and clean environment, right to be informed about changes affecting the property, among others.
The timeline can vary depending on the complexity of the deal, from a few weeks to several months.
The Ministry of the Interior website provides extensive information about real estate laws in Taiwan. Taiwan Real Estate Institute provides research and market analysis. Taiwan Legal Aid Foundation assists those in need of legal assistance who cannot afford a lawyer. Local licensed real estate agencies can also assist with real estate transactions.
If you need legal assistance in commercial real estate, start by seeking counsel from a reputable lawyer or law firm who specializes in commercial property law. Ensure that they have a good understanding of Taiwan's legal landscape. A real estate agent can also provide assistance in navigating the local market.
