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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.
LK Village 1 is conveniently located just 310 m from Minimart, which can be reached within 4 mins. by foot.
There are many other shops situated in the area of LK Village 1, the 3 closest being:
- Italia pattaya is 240 m away (about 3 mins. by foot)
- Buy in Thailand is 290 m away (about 3 mins. by foot)
- Romantic golf is 190 m away (about 3 mins. by foot)
The surrounding area, where LK Village 1 is situated, offers a wide variety of restaurants. See the closest of them below:
- Julie Grill & More is 30 m away (a walk of about 1 min.)
- Nai Ngok Boat Noodle, Baan Suan, Pattaya is 200 m away (a walk of about 2 mins.)
- Nut's Kitchen is 190 m away (a walk of about 2 mins.)
Social Security Center North Pattaya is the nearest health facility, which is 170 m away (you can walk there in 2 mins.) from the project, while the closest schools in the proximity of LK Village 1 are:
- North Pattaya Driving Teaching is 200 m away (about 2 mins. by foot)
- Britannia School of Language and Computer Teaching is 210 m away (about 3 mins. by foot)
- Baan Love Language North Pattaya is 240 m away (about 3 mins. by foot)
APAS Co., Ltd. is located 8.8 km from LK Village 1 and it takes about 16 mins. by car or taxi (depending on the traffic) to get there.