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| + | Retirement in Thailand is the dream of a lot of foreigners and mine also. I program to settle down there in about two years and have been checking out the rules for acquiring home in the land of smiles. | ||
| + | The easiest answer for a foreigner (farang) is to purchase a condominium. There is a percentage requirement as to the total number of farang and Thais in the condo complicated. | ||
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| + | Foreign land ownership is forbidden in Thailand. So, the greatest that a farang can do is to lease the land and own the property. The lease is excellent for 30 years and beyond that is anyones guess. Some internet sites say you can get an added 30 years and other internet sites say that there is no guarantee. | ||
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| + | One more alternative is to incorporate your self as some sort of company and lease the house back to yourself as an person. This is in the gray region of Thai law and 1 that I wouldnt use. I have close friends that have carried out this and so far it is Ok but I be concerned about the future. | ||
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| + | Lastly is one thing known as a usufruct. Googling this will possibly give you a lot more info and a greater explanation than I can provide. All I know is that is the option that a lawyer advised to me and I will pursue additional on my next trip to Thailand. He claims it is related to a lease but has some much better benefits. He will have to convince me. | ||
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| + | Regardless, it will be the lease or the usufruct. Either one particular ought to permit me to have a location in Thailand till the day I die or whatever happens to the house immediately after that I truly dont care about. | ||
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| + | There is a single final answer that I extremely DONT advocate. You can place the home in your Thai wife or girlfriends name. She will then personal the property outright. There is a minor technicality that she has to prove that she offered all the funds for the actual estate but that is an effortless lie to cover. The problem with this resolution is that because she is the owner, she can do whatever she wants with the property. You could take a two week vacation and come back and locate that your property has been sold and your honey is gone. This is definitely not advised. | ||
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| + | Examine with your lawyer and locate the way to acquire/lease house for your retirement. Whilst you have your lawyers ear, check on pre-nuptial agreements and an enforceable will. Dont conduct any transaction of this nature with out the advice of a lawyer. | ||
Revision as of 01:07, 17 April 2013
Retirement in Thailand is the dream of a lot of foreigners and mine also. I program to settle down there in about two years and have been checking out the rules for acquiring home in the land of smiles.
The easiest answer for a foreigner (farang) is to purchase a condominium. There is a percentage requirement as to the total number of farang and Thais in the condo complicated.
Foreign land ownership is forbidden in Thailand. So, the greatest that a farang can do is to lease the land and own the property. The lease is excellent for 30 years and beyond that is anyones guess. Some internet sites say you can get an added 30 years and other internet sites say that there is no guarantee.
One more alternative is to incorporate your self as some sort of company and lease the house back to yourself as an person. This is in the gray region of Thai law and 1 that I wouldnt use. I have close friends that have carried out this and so far it is Ok but I be concerned about the future.
Lastly is one thing known as a usufruct. Googling this will possibly give you a lot more info and a greater explanation than I can provide. All I know is that is the option that a lawyer advised to me and I will pursue additional on my next trip to Thailand. He claims it is related to a lease but has some much better benefits. He will have to convince me.
Regardless, it will be the lease or the usufruct. Either one particular ought to permit me to have a location in Thailand till the day I die or whatever happens to the house immediately after that I truly dont care about.
There is a single final answer that I extremely DONT advocate. You can place the home in your Thai wife or girlfriends name. She will then personal the property outright. There is a minor technicality that she has to prove that she offered all the funds for the actual estate but that is an effortless lie to cover. The problem with this resolution is that because she is the owner, she can do whatever she wants with the property. You could take a two week vacation and come back and locate that your property has been sold and your honey is gone. This is definitely not advised.
Examine with your lawyer and locate the way to acquire/lease house for your retirement. Whilst you have your lawyers ear, check on pre-nuptial agreements and an enforceable will. Dont conduct any transaction of this nature with out the advice of a lawyer.
