Best Investment Lawyers in Khon Kaen

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lawyers for expats Thailand Co Ltd

lawyers for expats Thailand Co Ltd

Khon Kaen, Thailand

Founded in 2019
7 people in their team
 Lawyers for Expats Thailand has been set up to assist foreigners living in Thailand.We understand first hand the challenges and problems...
English
Thai

Thailand Investment Legal Questions answered by Lawyers

Browse our 2 legal questions about Investment in Thailand and the lawyer answers, or ask your own questions for free.

Can a foreigner purchase land in Thailand?
Investment
Due to Thai property laws, a foreigner cannot directly purchase land in Thailand; however, there are other alternatives if you wish to pursue this option. The options include; using a company, as foreigners can own land in Thailand if it is the name of a Thai company; exploring investment options related to the Board of Investment Promotion (BOI); or placing the land in the name of your Thai spouse. It is advisable to contact a lawyer to navigate the various options.
Can a foreigner buy a condo unit in Thailand?
Investment
Real Estate
There is no limitation in terms of nationality, and as such, any foreigner legally admitted to entering the Kingdom can buy a condominium which is generally a freehold property. It should be noted that foreigner-owned condominium units should not exceed 49% of the total space of the condominium project. Other restrictions may be applicable.

About Investment in Khon Kaen, Thailand:

Khon Kaen is one of the significant cities in the north-east part of Thailand. In recent years, the city has transformed into a promising hub for commerce, healthcare, education, and especially investment. The investment landscape in Khon Kaen is bustling with potential, with sectors like real estate, agriculture, and retail drawing international attention. Through government initiatives such as the Eastern Economic Corridor project, Khon Kaen's growth and investment potential is being pushed even further.

Why You May Need a Lawyer:

Investing in a foreign country can present challenges due to the local regulations and customs that may not be familiar to overseas investors. Additionally, the legalese in lease agreements, purchase contracts, and other related legal documentation may require expert interpretation. These are some of the many instances you might need a lawyer. They can help you navigate through the legal obstacles, ensuring that all your transactions are in compliance with local and international laws to prevent future disputes.

Local Laws Overview:

Thai law generally encourages foreign investment, yet there are several significant restrictions and requirements needed in certain sectors. For example, the Foreign Business Act (1999) categorizes businesses that foreign investors can participate in, with conditions specified for each. Furthermore, the land laws in Thailand generally prohibit foreigners from owning land, with some exceptions. However, foreigners can possess buildings or structures or immovable property under specific legal terms & conditions. Understanding these laws and interpreting them can be complex, making the assistance of a lawyer in Khon Kaen valuable.

Frequently Asked Questions:

1. Can foreigners own businesses in Khon Kaen? Yes, but with restrictions. Certain business classifications under the Foreign Business Act require a percentage of local shareholding or specific licenses. 2. Can a foreign investor purchase property outright in Khon Kaen? Thai laws prevent foreigners from owning land, but foreigners can nonetheless own buildings or structures on the land or lease the land. 3. Are there taxes for overseas investors? Yes, various taxes apply to foreign investors, including income tax, corporate tax, and property taxes based on usage. 4. What sectors offer the best opportunities for investment in Khon Kaen? Real estate, agriculture, retail, and healthcare are some of the promising sectors for investment in Khon Kaen. 5. Do I need a local partner to start a business in Khon Kaen? It can depend on the sector. However, having a local partner may make navigating the local business landscape easier.

Additional Resources:

The Thai Board of Investment is an excellent resource for investors as it offers comprehensive information on how to invest in Thailand. The Department of Business Development also provides useful resources on starting a business, including information on laws and competition.

Next Steps:

Seeking legal advice is the first step you should take if you're considering an investment in Khon Kaen, Thailand. Reach out to a Thailand-based law firm to ensure you're fully prepared to navigate the local business landscape. They can provide specific advice on adhering to various laws, requirements, and restrictions based on your unique situation.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.