Integrity Legal - Law Firm in Bangkok | Bangkok Lawyer | Legal Services Thailand Back to
Integrity Legal

Welcome to Legal.co.th

Insights into Thai, American, and International Law

Contact us: +66 2-266 3698

info@integrity-legal.com

ResourcesThailand Real Estate & Property LawConveyancing and Property Transfer50 Year and 99 Year Leases May Soon Be Possible in Thailand

50 Year and 99 Year Leases May Soon Be Possible in Thailand

Transcript of the above video:

In this video, I'm briefly going to discuss 99 and 50 year leases. Basically in the past couple of weeks since the time of this filming, in the English language press and in the Thai press, it's been noted that a discussion has been going on at fairly high government levels and it seems imminent approval is maybe going to happen with respect to this issue. But basically Thailand is looking possibly to update the laws regarding leases and the length thereof in the Kingdom.

So as is explained on other videos in this channel, basically in Thailand from a feasibility standpoint it's really only possible to get a 30-year lease on a given piece of property at least for residential use. There's some differences with respect to things like industrial estates and certain commercial venues. But for residential usage, it's only possible generally to receive a 30-year lease of Thai property specifically real estate and it’s recently come to my attention that there's been a discussion about possibly lengthening the amount of time the land can be leased in Thailand specifically it's recently been discussed at least pertaining to the so called eastern economic corridor the possibility of having 99-year leases. Now these are going to be commercial leases in essence and they're going to be industrial estates primarily but it would appear to be possible or that it may be a possibility in the relatively near future that 99 leases could be a possibility within the bailiwick of that project. And part of that project is is a upgrade of infrastructure with respect to airports and airport rail links etc.

And as sort of an incentive for foreign direct investment, it's been bandied about the notion of increasing the amount of time that land can be leased in Thailand with 99 lease seeming to be the solution that's gained consensus. With respect to residential property, it now appears that it may be possible relatively soon provided all of this is approved. It may be possible relatively soon to go ahead and see a 50-year lease with respect to Thai property. Again, as of the time of this filming none of this has been set in stone and it does not appear yet to be the law of the land as it were but it appears to be a significant possibility.

It should be noted that there are various groups here in Thailand who are contesting this notion or are kind of basically have a difference of opinion with respect to whether or not these new changes should be implemented. How this all pans out remains to be seen but I do think it's rather likely that we're going to see some kind of change with respect to the law on leases in the relatively near future.