Legal Tips for Foreigners Buying Property in Thailand

Legal Tips for Foreigners Buying Property in Thailand

Are you considering investing in property in Thailand? The allure of this tropical paradise has captivated many foreigners looking to own a slice of its beauty. However, navigating the legal landscape when purchasing property in Thailand can be complex. To ensure a smooth and legally sound transaction, consider these essential tips:

1. Understand Thai Property Laws:
Thailand has specific laws governing property ownership for foreigners. Seek professional legal advice to comprehend the intricacies of these laws and ensure compliance with regulations.

2. Engage a Reputable Law Firm:
Partnering with a trusted law firm experienced in property law in Thailand is crucial. Sukhothai Inter Law, with its extensive expertise in property law and a deep understanding of local regulations, can guide you through the entire process.

3. Due Diligence is Key:
Conduct thorough due diligence before finalizing any property transaction. Verify the property’s ownership, title deeds, land status, and any existing encumbrances. This step is vital in preventing future disputes or legal issues.

4. Foreign Ownership Structures:
Understand the various ownership structures available to foreigners, such as leasehold, freehold, or setting up a Thai company. Each structure has its legal implications, and selecting the right one requires careful consideration.

5. Hire Competent Legal Representation:
Having a competent property lawyer in Thailand is indispensable. Sukhothai Inter Law offers tailored legal services catering to foreign investors, ensuring a seamless property acquisition process.

6. Clear Understanding of Costs and Taxes:
Be aware of all associated costs, including taxes, legal fees, and other expenses. Understanding these financial aspects will help in budgeting and avoiding unforeseen financial burdens.

7. Title Insurance and Contracts:
Consider obtaining title insurance to protect against unforeseen title defects. Additionally, ensure that all agreements and contracts are drafted and reviewed by legal professionals to safeguard your interests.

8. Stay Informed and Updated:
Laws and regulations in Thailand can evolve. Stay informed about any changes that might impact property ownership for foreigners. Sukhothai Inter Law provides updated legal counsel to keep you abreast of any regulatory modifications.

Conclusion:
Purchasing property in Thailand as a foreigner can be an exciting endeavor, but it requires meticulous attention to legal details. With the support of a reputable law firm like Sukhothai Inter Law, navigating the legal intricacies becomes a smooth and secure process.

For personalized legal guidance and assistance in property acquisition in Thailand, reach out to Sukhothai Inter Law today.

Keywords: Law firm Samui, Law firm Phuket, Property law Thailand, Property Lawyer Thailand, Property Lawyer Samui, Property Lawyer Phuket, Foreign Investment Attorney Thailand, Foreign Ownership Lawyer Thailand, Property Investment Lawyer Thailand

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    Sutham Siribunyawat

    Experience
    Khun Sutham has broad experience of providing legal advice and services in
    Thailand concerning commercial transactions, investments, real estate and dispute resolution
    matters for over 20 years. Khun Sutham has particular expertise in the following areas of practice:

    • Domestic & International Tax Consultation
    • Real Estate Transactions ( incl: developers, financiers and contractors)
    • Construction related matters
    • Investment and shareholding related dispute matters involving foreign investors
    • SEC enforcement related matters

    1981 Barrister of Law (LL.B) Ramkhamhaeng University
    1982 Granted License to practice Law and became Life member of the Law Society of Thailand
    1983 Barrister at Law, Thai Bar Association
    1990 Diploma of Negotiation and Contract Drafting (Chulalongkorn University)
    2003 Diploma of International Taxation (Thai Bar Association)
    2003 Notary Public License (Thai Bar Association)
    2008 Diploma (Taxation Planning)
    1982 - 1985 Practiced Law as Litigation Lawyer (Kingdom of Thailand)
    1985 - 1988 Studied English and Business Program (London, U.K.)
    1989 - 1990 Employed by ICL International Law Firm, Bangkok
    1990 present Founded Law Firm (SIL) and be partnership with an English businessman and a group of Thai Lawyers
    2015-2018 Co-Founder and Member of Board of Directors of ARYU Hospital Health Care CO.,Ltd.,
    Yangon, Myanmar, a Joint Venture between Gar Mone Pwint CO., Ltd, Myanmar, and stock listed
    Thonburi Health Care Group Public CO. ,Ltd., Thailand

    DETRY MICHEL

    Aalst, June 4th 1955
    Belgian
    Email: m.detry@sukhothaiinterlaw.com

    Professional activities
    02/04/2001 Tax Consultant (ITAA number: 50.205.075)

    01/09/1985 Chartered Accountant (I.E.C. number: 805.2F.55)

    1982 Chartered Accountant to the Courts

    Decoration
    “Lauréat du Travail”

    Others mandates
    1994 – 2002 Chartered Accountant as delegate to “Union des Classes Moyennes” (UCM)

    1997 Chartered Accountant as delegate to
    “Agence locale pour l’emploi (ALE) d’Auderghem”

    1998 – 1999 CharteredAccountant as delegate to
    “Comité de gestion du Fonds de Garantie de la Région Bruxelloise”

    1998 – 2002 CharteredAccountant as delegate to
    “Comité de gestion de la Chambre des Métiers et Négoces de Bruxelles et Brabant Wallon”

    1999 CharteredAccountant as delegate to “Comité de gestion de Bruxelles Capitale”

    2001 – 2009 CharteredAccountant as delegate to “Commission de Discipline à l’I.E.C.”

    2010 - 2020 Chartered Accountant as delegate to “Commission de Stage à l’I.E.C”

    Dr. Herbert KUESS
    Moos 22 / 6091 Götzens

    Senior Partner
    Project Financing national (Austria) and international (Myanmar, Thailand, Russia),
    Financial and management Advisory

    Phone: Tel: +66 (0) 2212 6866-7
    Mobile: +43 (0) 664 627 2215
    E-Mail: h.kuess@sukhothaiinterlaw.com

    Education
    Law studies at Leopold-Franzens University, Innsbruck, Austria (Doctor of Laws, 1980)
    Certified Accountant (1984)
    Authorised for management consultancy including organisation (2003)

    Languages
    German and English

    Practise Areas
    Structuring of large scale financing and investments, bank management for corporate customers,
    time based commercial management for clients.
    Myanmar Specialist with a strong network since 2013

    Functions/Member
    Managing Director of projects+finance pf management Ltd., Vienna, Austria
    (a fomer subsidiary of the largest international Austrian Banking Group Raiffeisen)
    since 2003

    Managing Director of Aqua Dome Tirol Therme Längenfeld (www.aqua-dome.at ),
    a thermal spa and resort in the Tyrol, Austria, since 2014

    Head of corporate business in two Austrian Banks (1982 – 2002)

    Numerous Board Functions in the Banking, Advisory and Tourism Business since 1990,
    also internationally e.g.

    Financial Advisor of ECOCOM Group, Austria and Russia (2007 – 2017)

    Co-Founder and Member of Board of Directors of ARYU Hospital Health Care CO.,Ltd.,
    Yangon, Myanmar, a Joint Venture between Gar Mone Pwint CO., Ltd, Myanmar, and stock listed
    Thonburi Health Care Group Public CO. ,Ltd., Thailand (2015 – 2018)

    Advisor of Aung Shwe Thee Ltd., Yangon, Myanmar, since 2013

    Advisor of Ayeyar Strength CO. ,Ltd, Yangon, Myanmar, since 2013

    Low Keng Hoong, Jeremy

    A-30-7 Residensi PR1MA Kg
    Paloh, Jalan Paloh, 30200
    Ipoh, Perak, Malaysia

    Phone: +601165711996 Email: jerelow@yahoo.com

    Distinct Skills

    • C-Level Leadership & Management
    • Business/Organization Planning
    • Market Feasibility Studies
    • Tertiary Education Pedagogies
    • Educational Leadership
    • Educational Accreditation
    • Start-ups
    • Mentoring

    Experience

    2019 – Present • CEO • KMC Medical Centre, Ipoh, Perak, Malaysia
    2017 – 2019 • CEO • Welly Hospital, Weihai, Shandong, China
    2016 – 2017 • Business Consultant • Thonburi Healthcare Grp, Bangkok, Thailand
    2015 – 2016 • Marketing & BD Director • Penang Adventist Hospital, Penang, Malaysia
    2012 – 2015 • Head & Lecturer, International Programs • Lingnan University, HKG
    2009 – 2012 • Associate Professor • Lingnan College, Sun Yat-Sen University, China
    2011 – 2012 • Int’l Accreditation • Lingnan College, Sun Yat-Sen University, China
    2008 – 2009 • CEO • WJ International Hospital, Beijing, China
    2006 – 2008 • Adjunct Business Professor • Bradford, Plymouth, Sunderland, Dublin
    1996 – 2005 • Marketing & BD Director • Hong Kong Adventist Hospital, Hong Kong
    1994 – 1996 • Assistant Professor • Southeast Asia Union College, Singapore
    1986 – 1994 • Marketing Information Analyst • San Francisco Music Box Co., USA
    1981 – 1983 • Mechanical Piping Draftsperson • Sime Darby Engineering, Malaysia
    1978 – 1981 • Church Pastor • West Malaysia & Singapore Mission SDA Church, Malaysia

    Education

    Doctor of Business Administration (2010), University of South Australia, Adelaide, Australia
    Master of Business Administration (1994), San Francisco State University, California, USA
    Bachelor of Science (Information Science) (1986), Andrews University, Michigan, USA
    Bachelor of Theology (1979), Southeast Asia Union College, Singapore

    Career Highlights

    KMC losing money since 1996, 2020 started making profits during COVID pandemic year
    after more than 23 years & 2021 with revenue increased by 25% with profits.
    - developed a retirement home facility (Ipoh); international healthcare wing at General
    Hospital of Armed Police (Beijing); Adventist Oncology Centre (Penang); Adventist Eye
    Centre (Hong Kong); & Adventist Dialysis Centre (Hong Kong)
    - developed from an empty old hospital building to a new general hospital of 250 beds with
    new facilities and equipment working closely with various government agencies for Welly
    Hospital (China).
    - performed market feasibility studies of Penang (2015), Ipoh (2015), Huzhou (2016), Beijing
    (2008), Chengdu (2015), Weihai (2017), Xiamen (2003), Shanghai (1999), Hong Kong
    (2000), these studies were used as supporting documents to develop or expand hospital or
    elderly care facilities, new buildings, hospital strategies and healthcare investments.
    - successfully led and assisted Lingnan (University) College in obtaining international
    accreditations (EQUIS - European Quality Improvement System & AMBA - Association of
    Master of Business Administration) in 2011
    - taught master and bachelor business modules: Strategic Management, Branding,
    Marketing Strategy, and International Business Strategy
    - consultant for fund-raising agencies - Helping Hand, Hong Kong Adventist Hospital
    Foundation, Penang Adventist Hospital, HK Diabetic Society.
    - doctoral, master, and bachelor business students’ thesis supervisor, advisor, or examiner.

    MR. NIYOT MASAVISUT
    14/221 Soi Chaengwattana 14,
    Tung Song Hong, Laksi,
    Bangkok 10210

    Mobile Phone : (081) 915-7518
    E-mail : niyotm@outlook.com

     

    PERSONAL DATA
    Date of Birth : March 19, 1968
    Marital Status : Married

    EDUCATION
    1996 : Master of Business Administration (International Business)
    Asian Institute of Technology, Thailand

    1991 : Bachelor of Science in Mechanical Engineering
    Washington University in St. Louis, USA

    WORK EXPERIENCE
    Okas Co., Ltd. (โอกาส
    2023 – Present : Founder and Director
    Provide financial services to Asset Management companies.

    Thai Medical Glove Co., Ltd.
    2021- 2022 (Dec) : Chief Financial Officer
    Oversees all financing activities especially project financing and prospective investors.

    Sukhumvit Asset Management Co., Ltd.
    2019 (Feb) - 2020 (Dec) : President
    Transform SAM to be a leading government AMC by developing a platform for NPL market and building capabilities of NPL acquisitions.
    Enhance asset recovery and portfolio return.

    2011 - 2019 : Senior Executive Vice President
    Manage Non Performing Asset such as properties.
    Develop and follow up on strategic implementation activities.
    Focus on Risk management activities.
    Enhance human resources capabilities.

    2005 - 2011 : Executive Vice President
    Manage Debt Restructuring activities for corporate SME and retail loans.
    Develop branch networks.
    Oversee outsourcers; namely ACAP and Tisco.

    Central Credit Information Co., Ltd.
    2003 - 2005 : Operations Director
    Oversee IT, Compliance, Marketing and Accounting Departments.

    Export-Import Bank of Thailand (EXIM Bank)
    1996 – 2003 : Assistant Vice President
    Responsible for credit facilities of investment projects especially in Greater Mekong Subregion.

    AT &T Telecommunications Product (Thai) Co., Ltd.
    1992 – 1994 : Engineer
    1993 : Design mechanical parts for new telephone sets.

    Siam Syntech Genysis Co., Ltd.
    1991 – 1992 : Project Engineer
    Manage and oversee subcontractors to install air-conditioning system and piping works for an office building project.

    TRAINING
    2017 * RE-CU CEO Premium in Modern Real Estate
    Chulalongkorn University, Thailand

    2014 * Advanced Certificate Course in Public Administration and Law for Executives
    King Prajadhipok’s Institute, Thailand

    2010 * Advanced Senior Executive Program
    Kellogg School of Management, Northwestern University and
    Sasin Graduate Institute of Business Administration of Chulalongkorn University

    2008 * Director Certificate Program
    Thai Institution of Directors, Thailand

    2006 * NIDA Executive Leadership Program
    Wharton University of Pennsylvania, USA