Is buying villas in Thailand protected by law?

Author:Thailand MDR Accounting Law Firm Date:2018-11-21

If you want to buy land or villas in Thailand, you need to register a company first, and then buy land or villas in the name of the company, which is legal and protected by law.

There are two types of companies registered in Thailand:

① Boi wholly owned company

Foreign owned company, foreign shareholders have 100% equity, if you can apply to boi, you can directly buy land without worrying about risk, but boi requirements are quite strict, the registered capital is at least 10 million ~ 200 million baht, cumbersome procedures, application time takes more than three months.

② Sino Thai joint venture

The registered capital shall be at least 1 million baht, and there shall be at least 3 shareholders of the registered joint venture company, of which at least one is Thai, and Thai shareholders shall hold at least 51% of the shares, while foreigners shall hold at most 49% of the shares and enjoy the sole signing right of the company. In order to reduce the risk, it is recommended to have two Thai shareholders. These shareholders can find or find an agency to help you. The registered company needs to provide a copy of personal passport, sign a few words, and provide the relevant documents of the registered company. The whole process can be completed in one month.

Many people say that this is not safe. In fact, as long as we ensure the following three points, it is very safe.

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① Hire a professional lawyer

② There must be a reliable professional real estate agent for you to do the word for the recommendation

③ Register and verify that the company holding the property has been properly established to ensure that the foreign buyer has full control of the company and its assets (i.e. the property).

④ With the help of lawyers, report to relevant departments on time every month.

The "legal person", the registered person of a Thai company, has absolute control over the company, which means that without your signature or seal, all decisions of the company are invalid, and the right to dispose of the villa style real estate registered in the name of the company naturally belongs to the legal person of the company.

The chanote mark is the highest form of land ownership in Thailand. It means that the land has been accurately entered into the national land survey network. You have 100% ownership of the land defined in the title deed. You can also freely buy, sell, transfer, or mortgage your land, which is protected by law. When you have the title deed, you should obtain a copy of the title deed and ask your lawyer to verify it in the local land and Resources Bureau.

There is no need to worry too much about the issue of equity. Under the guidance of professional lawyers, Thai shareholders can sign the equity transfer or equity surrender and give it to the real owner of the company's shares. The document states that Thai shareholders automatically give up all the voting rights and management rights of the company. This kind of agreement is protected by law.

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