Thailand Property Ownership
- Leasehold OwnershipA safe and secure registered long term lease by signing a 30 year (or less) lease with a domestic company or Thai individual, with an automatic option to renew for another 30 years, Typically with 2 x 30 year extensions, making a total of 90 years.
- Freehold OwnershipAn individual foreigner or a foreign company may acquire and own a house and land through a Thai Comapany (Holding Company) and have control over such company as a Director and via a preference share scheme, The shares held by Thai shareholders will be common shares, and the shares held by the foreign Investor will be preferred shares, Under Thai laws, the preferred shares mean shares with different rights from common shares. Preference shares in this case would give the holder control over the company.
- Foreign Freehold Ownership (for condominiums)Condiminiumsare available for outright Freehold ownership by foreigners. The condominium Act of 1979 gives buyera tiltle to part of a building or buidings with multiple owners. It also confers a fractional interest in the land and other common assets and areas. Thai law allows foreigners to own only up to 49%of the units in a condominiums development. So supply is rather limited.
There are many different types of land titles in Thailand. At Phuket Marbella we will manage the whole purchasing process for you.
Land is measured in Rai, Ngan and Wah.1 Rai : = 4 Ngan (or 1600 Sqm.)1 Ngan : = 100 Wah (or 400 Sqm.)1 Wah : = 4 Sqm.1 Acre : = 2.5 Rai (approx.)1 Hectare : = 6.25 Rai (approx.)
Thailand Land Title Deeds
- Chanote A Chanote is a certificate for ownership of land and the person with their name shown on the deed has the legal right to the land, and can use it as evidence to confirm the right to government authorities, A Chanote title deed shows the official government land survey points using the very accurate GPS survey method to set the area and boundaries of the land, So this is the most secure type of land title and is highly recommended to the purchaser.
- Sor Kor 1 Sor Kor 1 is a notification form of possessed land. There is a certificate to show the right to the land. This maintains existing rights. Notification of [Sor Kor 1]; on December 1st 1954 , the government advised all land proprietors to notify such possession to the government as per form [Sor Kor 1]. After it was proven that such a proprietor had possessed the land legally and used the benefit of the land, then the government would issue [Nor Sor 3] or [Nor Sor 3 Gor] as evidence.
- Por Bor Tor 6 Por Bor Tor 6 Is evidenced by the issuance of a tax number for the purpose of paying tax for using the benefit of the land. Such land has not yet been assessed as to the person's right to possess such land. In the event that there is no title for the land, then it may be land in a conserved forest, public land or land which existed under [Sor Kor 1], [Nor Sor 3], [Nor Sor 3 Gor] or a title deed.
Any of these titles must have a [Por Bor Tor 6] as tax must be paid, the same as any land without a title. Purchase of such land is possible by handing over the possession of the land to the buyer along with the tax number. The right to land under [Por Bor Tor 6] can not be used as evidence in any dispute with authorities.
- Sor Por Gor 4-01 Sor Por Gor 4-01 is an allotment of land from the land reformative committee, and under no circumstances may this land be bought or sold. It may be transferred to heirs only.
- Nor Sor Sarm Kor This certifies that the person named on the certificate has the confirmed right to use the land implying that all requirements to issue the title deed have been met and that the issue of the title deed is pending, Land with a Nor Sor 3 Kor title deed may be sold, leased, used as mortgage collateral and so on. The holder of this cerfificate cannot leave the land unattended for more than 12 years.
The Chanote and Nor Sor 3 Kor are the only title over which registerable right of ownership or lease can exist and are as such the only ones that a prudent foreigner should cosider.
- Nor Sor Sam Similar to the above this is a confirmed Certificate ou use execept that not all of the formalities to certify the right to use have been performed, Before a transfer can be made, a notice of intent must be posted and then 30 days public notice is necessary before any change of status over the land can be registered.
Property Purchase Tax & Fees
Land is measured in Rai, Ngan and Wah.