The Thai Land Act does not recognize lease agreements beyond 30 years. That includes a lease where it states rental extensions are guaranteed, it’s considered a promise and it will not hold up in court if the owner of the land does not approve. For example, the land owner may die and their kin does not approve, or the owner sells the land and the new owner does not approve an extension past 30 years. They are considering an increasing the 30 years, but please read the Land Act concerning this and verify for yourself. It’s online in English.
That's true, yet a scheme which is possible is setting up a company with 51% thai, only as shareholders, while you being the sole director, which makes them basically not able to do anything, then the company owns the land and leases it out to you for 30 years.
@@ItsTwizer using a Thai nominee for a business to buy land is not legal. Now if you had a Thai partner and you owned an actual business, let’s say you owned 10 laundromats and you wanted to buy land to build an office then that is legal. If you use a nominee just to buy land and done report revenues or an actual business then someday they could could confiscate your land/house.
@@ItsTwizer people are getting busted for such nominee arrangements every day. It’s just a matter of time before more and more get busted. Freehold condo’s are the only legal way, or have a Thai wife and out the land in her name and build house in yours and sign a 30 year lease with the wife to protect yourself. Outside of that it’s a big risk.
The Thai Land Act does not recognize lease agreements beyond 30 years. That includes a lease where it states rental extensions are guaranteed, it’s considered a promise and it will not hold up in court if the owner of the land does not approve. For example, the land owner may die and their kin does not approve, or the owner sells the land and the new owner does not approve an extension past 30 years. They are considering an increasing the 30 years, but please read the Land Act concerning this and verify for yourself. It’s online in English.
That's true, yet a scheme which is possible is setting up a company with 51% thai, only as shareholders, while you being the sole director, which makes them basically not able to do anything, then the company owns the land and leases it out to you for 30 years.
@@ItsTwizer using a Thai nominee for a business to buy land is not legal. Now if you had a Thai partner and you owned an actual business, let’s say you owned 10 laundromats and you wanted to buy land to build an office then that is legal. If you use a nominee just to buy land and done report revenues or an actual business then someday they could could confiscate your land/house.
@@ItsTwizer people are getting busted for such nominee arrangements every day. It’s just a matter of time before more and more get busted. Freehold condo’s are the only legal way, or have a Thai wife and out the land in her name and build house in yours and sign a 30 year lease with the wife to protect yourself. Outside of that it’s a big risk.
@@Kandiplaces That's fair, have you heard of someone getting busted?
Illegal@@ItsTwizer