If you want to start a real estate firm in Thailand, you need first learn about the legal criteria for registration. We'll go through the three primary actions you'll need to complete to register your real estate firm in Thailand in this tutorial.
Business Registration and Licensing
The first step in establishing a real estate firm in Thailand is to register with the Thai government. You must take the following steps:
- Register your business name
- Obtain a tax identification number
- Register for value-added tax (VAT)
- Obtain any necessary licenses and permits
In addition, the Thai government will need you to get a real estate license. This license will allow you to lawfully conduct real estate transactions in Thailand.
Property Ownership Laws
Foreign persons and corporations are restricted from owning property in Thailand. Foreign persons and corporations are generally forbidden from owning land in Thailand. There are certain exceptions to this regulation, such as initiatives backed by the Board of Investment (BOI) or freehold condominium ownership.
When working with clients, be sure your contracts are legally binding and enforceable. Real estate contracts in Thailand should include the following clauses:
- A clear description of the property being purchased or leased
- The purchase or lease price
- The terms and conditions of the agreement
- Signatures of both parties
It is critical to remember that any agreements you establish with clients must be in accordance with Thai legislation.
You will be able to conduct your business lawfully and with peace of mind if you follow these legal criteria for registering a real estate firm in Thailand.