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The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
After you have found the right property you have to follow these steps:
Agreement of terms and conditions
Sales and Purchase Agreement
Settlement & Transfer
A 30 year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.
Village of Baan Rim Naam is conveniently located just 490 m from 7-Eleven Chiang Mai-Maejo 2 Branch Branch, which can be reached within 6 mins. by foot.
There are many other shops situated in the area of Village of Baan Rim Naam, the 3 closest being:
- Jiffy is 1.4 km away (an approx. drive of 2 mins.)
- 7-11 Ban Nong Chom Branch 8469 is 2.2 km away (an approx. drive of 4 mins.)
- Join and Coin Chiangmai is 1.7 km away (an approx. drive of 5 mins.)
The surrounding area, where Village of Baan Rim Naam is situated, offers a wide variety of restaurants. See the closest of them below:
- CHICK is 130 m away (a walk of about 1 min.)
- Being Single Cafe Pensode Cafe is 180 m away (a walk of about 2 mins.)
- Cafe Din Din Cafe dindin is 1.2 km away (approx. 3 mins. by car)
Chiang Mai Nurse is the nearest health facility, which is 3.3 km away (you can drive there in 8 mins.) from the project, while the closest schools in the proximity of Village of Baan Rim Naam are:
- The Groove Music School is 2.1 km away (an approx. drive of 5 mins.)
- Hui Chong Chinese Language Education Center is 3.0 km away (an approx. drive of 8 mins.)
- Robot's Child, Robot Kids, Sansai, Chiang Mai is 2.8 km away (an approx. drive of 6 mins.)
Chiang Mai International Airport is located 12.3 km from Village of Baan Rim Naam and it takes about 23 mins. by car or taxi (depending on the traffic) to get there.