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Pattaya, Thailand Attorneys in related practice areas.
Browse our 8 legal questions about Real Estate in Thailand and the lawyer answers, or ask your own questions for free.
Pattaya, Thailand is a vibrant seaside city popular for both domestic and international real estate investors. The real estate market is governed by several statutes such as the Land Code Promulgated, the Condominium Act, and the Civil and Commercial Code amongst others. Foreigners, in particular, are often interested in semi-permanent or permanent residency, resulting in increased demand for real estate purchases. However, Thai laws have certain restrictions on foreign land ownership which necessitates the competent legal guidance for safe property investment.
Understanding the legal nuances involved in buying or selling real property in Pattaya can be complex. You may need a lawyer for tasks such as reviewing and preparing contract agreements, interpreting and applying real estate laws, managing zoning issues, handling disputes over things like property defects or contract breaches, setting up proper legal structures for property investment and taking care of title searches and registrations.
The fundamental legal framework surrounding real estate in Pattaya is prescribed by the Land Code Act BE 2497 (1954). Foreign ownership is generally restricted, foreigners cannot own land, but are allowed to own buildings and condominiums under certain conditions. A foreigner can however, lease land for a maximum of 30 years. For condominiums, foreign ownership should not exceed 49% of the total space of all units in the condominium at the time of sale. Laws surrounding investment structures such as holding companies and REITs are also noteworthy.
Can foreigners buy property in Pattaya, Thailand? While foreigners cannot directly own land, they can own condominium units under the Condominium Act or lease land for up to 30 years under Thai law.
What does freehold mean?Freehold ownership means that you own both the structure and the land on which it stands, granting the highest degree of ownership available.
What is leasehold ownership?Leasehold ownership means that you rent or lease the property for a predetermined period of time. In Thailand, the maximum leasehold term is 30 years for land.
Can a foreign company own real estate in Thailand?Foreign companies can own real estate under certain conditions like being BOI-promoted or falling within certain treaty provisions, however it's a complex process that requires deep understanding of Thai laws.
Is it safe to invest in property in Pattaya, Thailand?While Pattaya has a bustling real estate market, due diligence is necessary and it is strongly recommended to consult with a legal professional or firm experienced in Thai Property Law before committing to investments.
For those seeking more information, the Land Department of Thailand and the Thailand Property Lawyers Association are comprehensive resources. In addition, many Thai legal firms publish regularly updated, in-depth guides touching multiple aspects of Pattaya's real estate market.
If you are in need of legal help related to real estate in Pattaya, the first step is to find and consult with a legal expert or firm with a solid knowledge of Pattaya's property laws. They can helpreview contracts, ensure legal compliance, establish proper structures for investment, and provide assistance and representation in case of any legal disputes.
