I’m looking at leasing or buying land in Ko Phangan with an existing bungalow, with the view to build 2 more and rent out.
Some questions :-
1) I understood I can lease and form a company but I have now read that Thai gov changed the law in October 2022 and I can own the land?
2) are there surveyors that can check the existing structure
3) any recommendations for an English speaking lawyer in Ko Phangan
4) any builder recommendations?
All other thoughts appreciated! I do property rental in the UK so I’m not a newbie but of course it’s very different here!
Thanks 🙏
TLDR : Answer Summary
The conversation discusses the complexities of land ownership and leasing in Thailand, particularly for foreigners interested in investing in Ko Phangan. Respondents clarify that, as of October 2022, foreigners cannot outright own land but can lease it typically for 30 years, with potential for renewals. It is suggested to set up a company for business purposes, but this comes with complications regarding ownership control, as Thai law requires at least 51% Thai ownership in such companies. Numerous participants recommend consulting local legal experts for thorough guidance and share experiences and warnings about the risks involved in property investments in Thailand.