Securing your investment
The legal process and structure for purchasing property in Thailand is different, and sometimes more complex than other countries, mainly due to the fact that it's illegal for a foreigner to own land in Thailand. However, there are numerous strategies, depending on property type, that one may deploy to secure their investment!
At Long Global Accounting, we prefer legal ownership structures that protect both the foreign buyer as well any/all Thai people involved (persons and/or shareholders). A potential buyer must determine their own 'risk versus reward' model when considering any property investment.
The first step in any property transaction is engaging qualified legal counsel. We provide initial consultations to understand your requirements, budget, and preferred location, then guide you through the entire purchase process.
Choosing a reputable real estate agent is important. We can recommend trusted agents and help you evaluate properties, ensuring that listings are legitimate and fairly priced.
Once you've found a suitable property, a reservation agreement secures it while due diligence is conducted. We draft or review reservation agreements to protect your deposit and interests.
Thorough due diligence is essential before any property purchase. We verify title deeds, check for encumbrances, confirm building permits, review condominium juristic person records, and assess any legal risks.
We draft comprehensive sale and purchase agreements that clearly define all terms, conditions, payment schedules, and remedies. Our agreements protect your interests while ensuring enforceability under Thai law.
For off-plan purchases, we structure payment schedules that protect your investment. We ensure payments are linked to construction milestones and that appropriate guarantees are in place.
Property transfers in Thailand involve various fees and taxes including transfer fees, stamp duty, specific business tax, and withholding tax. We calculate all costs upfront and negotiate the allocation between buyer and seller.