Property Law  

If you are purchasing property in Phuket or anywhere in Thailand then you should be consulting with a property lawyer, as you would be best served by having a due diligence report on the property done. The real estate market in Phuket is not well regulated and should there be problems you will have great difficulty recovering the money later. Many people lost their investment during the Asian financial crisis due to a lack to due diligence before they bought property.

   Purchasing a condo  

Most foreigners purchase a condo unit as an investment as it is easier to manage. You might be aware that foreigners may not own more than 49% of the units in the condominium project. Speak to a property lawyer about this as you might need to establish a Thai company in order for the company to hold the property. Always ensure that you have done a due diligence on the property as you need to ensure that you don’t lose your investment.

   Purchasing Land  

Foreigners are not allowed to own land in Thailand. You can own a small plot of land hereby you would need to invest millions in Thailand as also receive permission from the Minister of the Interior in order to buy the land. Many expats place the property in the name of their Thai child but this become a major issue during a divorce when the mother gets to exercise all property rights over the child property. You can look at other options. You need to take proper legal advice from a lawyer in Thailand before you sign any documents.

   Due Diligence  

If you are investing on the property in Thailand then you need to ensure that you have done a due diligence report on the property as property scams do occur in Thailand. The due diligence report will ensure that the property and seller of the property have been checked and that there are no problems. The report has to check for any encumbrance registered over the property and also check ownership as well as checking for any other restrictions on the property.