Although Thailand property law largely restricts land ownership rights to citizens, foreigners may hold 100% interest in a Thailand land 30 Year Lease Agreement. Thailand lease law allows a 30-year maximum lease period, with the possibility of renewing the lease for an additional 30 year period.
The detailed regulations regarding land lease agreements are changing very often, hence it is advisable to seek professional legal services on the subject,
Does the law in Thailand allow a foreigner to have 100% interest for a land lease in Thailand?
The answer is YES. A foreigner is allowed to have 100% interest for a land lease in Thailand and he/she is able to secure long-term land leases under Thailand land lease law.
Is registration at the Land Department mandatory?
It is mandatory for leases that are three years or more to be registered at the Land Department. Land leases that are less than three years do not require registration.
How long is the maximum lease term allowed in Thailand?
The maximum lease term allowed in Thailand is 30 years. Thereafter, there are renewal options for an additional 30 years. A new registration at the Land Department is mandatory for every lease renewal with the landowner’s agreement. Such renewal leases are taxable. A foreign company may be allowed to lease land for industrial or commercial use for up to 50 years under certain circumstances.
Why do foreigners choose the land leasing option to own property in Thailand?
Land leasing is the most straightforward approach to acquire property in Thailand. Many foreigners feel more secure knowing that a legally registered land lease stays valid even if the underlying property or the land is sold.
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Please note that Thailand’s rules and regulations are constantly changing and it is vital that you check with the Thai Authorities for updated information. Disclaimer: We do not take any responsibility for the accuracy and correctness of any information provided on Thaivest.com.
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