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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.
Eakmongkol 5/2 is conveniently located just 0 m from 7-Eleven, which can be reached within 1 min. by foot.
There are many other shops situated in the area of Eakmongkol 5/2, the 3 closest being:
- Lotus Express Kao Talo Branch 3 is 90 m away (about 1 min. by foot)
- 7-11 Rong Phet Market is 260 m away (about 3 mins. by foot)
- 7-Eleven is 300 m away (about 4 mins. by foot)
The surrounding area, where Eakmongkol 5/2 is situated, offers a wide variety of restaurants. See the closest of them below:
- Golden Noodle is 20 m away (a walk of about 1 min.)
- Bo Bo Pork Blood Shop is 40 m away (a walk of about 1 min.)
- Soi Khaotalo is 60 m away (a walk of about 1 min.)
Sawang Boriboon Rescue Point Chai Prit is the nearest health facility, which is 1.1 km away (you can drive there in 4 mins.) from the project, while the closest schools in the proximity of Eakmongkol 5/2 are:
- Burapa School is 1.3 km away (an approx. drive of 5 mins.)
- Baan High School Pool Villa is 1.1 km away (an approx. drive of 4 mins.)
- Burapa School is 890 m away (about 11 mins. by foot)
APAS Co., Ltd. is located 4.6 km from Eakmongkol 5/2 and it takes about 12 mins. by car or taxi (depending on the traffic) to get there.