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Surat Thani, 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.
Real Estate law in Surat Thani, like the rest of Thailand, is subject to both local and national legislation. At the foundational level, the law tightly manages foreign ownership of property, with restrictive policies towards foreign nationals buying freehold land. However, foreigners may own condominiums, or through a limited company, perhaps lease land or property. Understanding the nuances of these legislations is essential for successful real estate transactions in Surat Thani.
Engaging a lawyer can be beneficial in navigating the often complex and unfamiliar terrain of Thai property law. These professionals offer advice and assistance in instances such as drafting and interpreting contracts, doing due diligence, understanding zoning laws and local planning policies, mitigating tax implications, or navigating disputes with landlords, tenants, or contractors. In particular, foreign investors frequently rely on local legal experts to help them understand the unique intricacies of Thai real estate law.
Thai property law, including that in Surat Thani, prohibits foreigners from directly owning land. However, several options are available, including setting up a Thai Limited Company, entering a long-term lease, or investing in condominiums where foreign ownership is allowed up to 49% of the total available space. The 30-year land lease law is a popular option, but it’s essential to structure these leases legally to ensure enforceability. New rules regarding land use in Surat Thani, such as those regarding green zones and flood risk areas, could also significantly impact the value of property investments in the area.
Can a foreigner own property in Surat Thani, Thailand?Foreigners are allowed to own buildings and condominiums, but not the land they sit on. However, they can control land through long-term leases or by creating a Thai Limited Company to purchase and hold the land.
What is the lease period for property in Thailand?The maximum lease period in Thailand is 30 years, with the possibility of renewal. However, lease agreements of over three years must be registered at the Land Department.
Are there property taxes in Thailand?Yes, there are several types of taxes related to real estate in Thailand, including Transfer Tax, Specific Business Tax and Stamp Duty. It's crucial to consult a local tax expert to ensure compliance with all tax requirements.
Can a foreigner inherit property in Surat Thani, Thailand?A property can be inherited by a foreigner. However, for land inheritance, the same restrictions apply, and the foreigner has one year to dispose of the real estate.
What are 'Green Zones' in Surat Thani?'Green Zones' are part of an environmental preservation initiative and require specific construction applications and permits, allowing fewer buildings per land unit in an effort to conserve nature.
For further research, the Surat Thani Provincial Land Office and Thailand's Department of Lands are excellent starting points. Additionally, various reputable Thai and English language online forums and property websites provide valuable insights into real estate practices in Surat Thani.
If you need legal assistance with real estate in Surat Thani, it's advisable to contact a local law firm that specializes in Thai property laws as your first step. Do ensure that the firm has a strong track record and understanding of both local and national legislation in Thailand.
