Integrity Legal

Posts Tagged ‘Thailand Real Estate Title’

8th August 2011

It recently came to this blogger’s attention that the Association of Southeast Asian Nations (ASEAN) has celebrated its 44th birthday. In order to provide further information on this story it is necessary to quote directly from the official website of Channel News Asia, ChannelNewsAsia.com:

SINGAPORE: Singapore will mark the 44th anniversary of the Association of South East Asian Nations (ASEAN) with a flag-raising ceremony at the Indonesian Embassy on 8 August. Indonesia is the current Chairman of ASEAN. Singapore’s Ministry of Foreign Affairs (MFA) said this year’s celebrations are particularly significant. It said this will be the first time that the ASEAN flag will be flown at all ASEAN member states’ diplomatic and consular missions in ASEAN countries and ASEAN’s dialogue partners and ASEAN Member States’ Missions where UN headquarters and offices are located…

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Frequent readers of this web log may recall that there have been significant discussions within ASEAN regarding issues such as a unified ASEAN visa, the exchange of University credits in an intra-ASEAN context, and a framework for dealing with issues pertaining to the South China Sea. As of yet, there has not been a full resolution regarding these issues, but the dialogue continues with many hopeful that ASEAN will be able to provide a strong platform for regional and global trade as well as business.

In news which is likely of more pertinence to those in Southeast Asia, it recently came to this blogger’s attention that there is further optimism regarding the Thai real estate markets. To quote directly from the official website of The Nation, NationMultimedia.com:

The property market will benefit from political stability and the government’s policy of boosting demand in the first-home market in the second half of this year, according to property experts. A survey of leading property firms by The Nation, seeking outlooks for the property market in the second half of 2011, found most believing that following the election, home-buyers will return to the market because of renewed confidence in political stability…

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Many foreign nationals in Thailand contemplate a Thailand property purchase either in the form of a Condo in Thailand or a house. In the case of a house in Thailand, it may be possible to enjoy the benefits of a Thai home notwithstanding restrictions placed upon foreign ownership of Thai land. In fact, through use of instruments such as Thai leases or Thai usufructs it may be possible to secure virtually total control over a home in Thailand. Some opt to secure their interest in a Thai house by bifurcating the title to the house from the title to the property (sometimes referred to as a Chanote). In any case, there may be ways in which a foreign national can enjoy the benefits of real estate in Thailand.

For information pertaining to legal services in Southeast Asia please see: Legal.

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30th April 2011

Over the years this blogger has seen large numbers of tourists flock to the Kingdom of Thailand as well as the neighboring nations of Laos, the Union of Myanmar (referred to by some as Burma), Malaysia, and the Kingdom of Cambodia. At the same time, this blogger has also witnessed the metamorphosis of some of these tourists into entrepreneurs by remaining in some of these countries (as well as other jurisdictions in Greater Asia such as Indonesia, Vietnam, China, Taiwan, Singapore, Hong Kong, South Korea, Nepal, Macau, India, and Sri Lanka; to name only a few) in a business context for many years and; for some, even decades or a whole lifetime. Whatever the circumstances of those Americans Resident Abroad remaining in the region of economies increasingly being labeled by both the mainstream and alternative media outlets by their affiliation with the Association of Southeast Asian Nations (ASEAN) one thing is clear: the economies of Asia are set to expand at an incredible rate by relative historical comparison. Therefore, it stands to reason that there are likely to be more Americans doing business in these jurisdictions. This state of affairs is occurring at a time when the potential of the internet and the World Wide Web first noted little more than a decade ago is beginning to become fully realized by businesses large and small. As e-commerce becomes an evermore ubiquitous facet of virtually every enterprise’s business strategy it is becoming more clear that many business functions are increasingly being performed by businesses of all sizes online and, in some cases, these businesses are even being maintained from an entrepreneur’s home.

This phenomenon is interesting for this blogger to note from the perspective of an American who is resident in Bangkok, Thailand as the Thai shop-house business model of maintaining a residence and business premises within close proximity has lead to a thriving small business community in the vast metropolis that is Greater Bangkok. This thriving business community, coupled with many of the other positive factors associated with doing business in Thailand, has lead to a vibrant economy that remains conducive to further foreign investment by entrepreneurs and businesses seeking to derive economic benefits both in Thailand and throughout the Asian markets. Of possible importance to Americans resident abroad or those thinking of residing abroad are the issues noted above as well as those associated with ownership of Thai property or Thai real estate especially in the form of a Thai Condominium.

In Thailand, as well as throughout many jurisdictions in Asia, there are restrictions placed upon foreign ownership of real estate. Although there are provisions allowing for foreign ownership of Thai property in many cases it is difficult, if not impossible, for a foreign national to secure freehold title (referred to as Chanote title in Thailand) in Thai real property such as land. However, it may be possible for a foreign national in Thailand, such as an American Citizen, to conveniently secure freehold title to a Thai Condo if the provisions of various laws and regulations on this issue, such as the Thai Condominium Act, are adhered to. Meanwhile, a foreign national who owns a Condo in Thailand may be qualified to receive a Foreign House Registration Booklet (referred to as a Tabien Baan for Thais or a Foreign Tabien Baan, or Yellow Tabien Baan for foreign nationals). Taking the aforementioned factors into consideration, in conjunction with the fact that for American Citizens and American Companies in Thailand there may be benefits pursuant to the provisions of various legal instruments such as the US-Thai Treaty of Amity which may provide the privilege of virtually 100% ownership of a Company in Thailand with “National Treatment” for certain business undertakings, one is left with little doubt that there are tangible legal benefits which could be accrued to the favor of Americans resident in Thailand conducting business in the ASEAN region as well as the regions of Greater Asia. Therefore,  investing in what this blogger would refer to as a “Thai Pad” (which non-literally alludes to the IPad-like gadgets allowing for increasingly easy real time access to the internet as well as the exponentially beneficial combination of privileges accruing to owners of Thai property registered on a Yellow Tabien Baan in conjunction with the advantages which may be had for Americans resident abroad utilizing a Thai company certified under the US-Thai Amity Treaty) could prove to have been prudent by future analysts in both tangible as well as intangible terms.

For related information please see: US Company Registration.

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