Can a foreigner rent out a condo in Thailand?

Can a foreigner rent out property in Thailand?

Although foreigners cannot legally own land, they are allowed to own buildings. Renting land and building a house is an increasingly popular option for foreigners. First, you lease a piece of land and register a “right of superficies.” Obtaining a right of superficies allows you to own a building on the rented land.

Can a foreigner own a condo in Thailand?

Thai law is very restrictive when it comes to foreign real property ownership. Buying a condo is generally the only way foreigners are allowed to purchase real property in Thailand outright. … The total area of the condo units owned by foreigners cannot exceed 49% of the total area of all saleable condo units.

How do I rent a property in Thailand?

The lease term of a real properties in Thailand can either be fixed or periodic. A lease agreement will usually guarantee the initial 30-year lease term. A foreigner can safely acquire the right to use the land and register the right for a maximum of 30-year lease at the Land Department.

Can I rent out my condo immediately?

Yes, you can rent out your condominium once it has received its Temporary Occupation Permit (TOP). All types of private residential property are subjected to an occupancy cap of six unrelated persons per property.

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Can a foreigner own a house in Thailand?

Generally, foreigners are not allowed to directly purchase land in Thailand. … It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built thereon. One only has to apply for a construction permit to build the house in his own name.

Can foreigners buy property in Thailand 2021?

Yes, Foreigners Buying Property in Thailand can take freehold ownership of a structure in Thailand, however foreigners are not permitted to own land in Thailand. Foreigners may enter into a long lease agreement, commonly known as “Leasehold” to secure the land.

Can a foreigner buy a apartment in Thailand?

Foreigners cannot buy land in Thailand, only condominium units and apartments. … However, a foreigner can buy a whole building, minus the land on which it is built. In recent years, minor changes in Thai law have allowed nonresidents to explore the Thai real estate market.

Do I need a lawyer to buy a condo in Thailand?

Buying any Real Estate in Thailand be it a house or a condo requires the services of a reputable law firm. Once you have decided which real estate you are going to purchase, always consult a lawyer before signing any documents.

How much money do you need to retire in Thailand?

The requirement for a retirement visa is 65,000 baht per month (about USD 2,000) or savings of 800,000 baht (USD 25,000) in a Thai bank account. Steven LePoidevin, InternationalLiving.com Thailand Correspondent, says this is a good starting point for a retired couple.

Can I rent land in Thailand?

Yes, foreigners can lease land for up to thirty years in Thailand in a similar way a Thai national does. Now that it is apparent that both foreigners and Thai nationals can register a lease agreement in Thailand, we shall move forward to learn more about lease agreements.

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How long can you lease land in Thailand?

In Thailand land lease law, the maximum length of a residential lease registration is 30 years but the lease can be extended for an additional 30 year period with an agreement between the land owner and lessee.

What is a lease vs rent?

The main difference between a lease and rent agreement is the period of time they cover. A rental agreement tends to cover a short term—usually 30 days—while a lease contract is applied to long periods—usually 12 months, although 6 and 18-month contracts are also common.