Cynthia M. Pornavalai and Ahmet Yesilkaya, partner and consultant in Tilleke & Gibbins’ corporate and commercial group, have coauthored the Thailand chapter of Getting the Deal Through – Real Estate 2014, a guide to real estate in 28 jurisdictions worldwide. The chapter provides an insight into real estate ownership and investment in Thailand, and it examines foreign investment law in terms of liability, choice of law, and important considerations when investing in Thailand. In particular, the chapter covers the following topics:
- General: Thailand’s legal system; registration and recording; land records; exchange control; liability; choice of law; jurisdiction; commercial versus residential property; planning; compulsory appropriation; and forfeiture without compensation
- Investment vehicles: Investment entities; foreign investors; and organizational formalities
- Acquisitions and leases: Ownership and occupancy; pre-sale; contract of sale; environmental impact; covenants and representation; security instruments; delivery of security deposits; due diligence; reviews; other important agreements and documents; closing preparations and formalities; and breach of contract and lease terms
- Financing: Secured lending; security interests; valuation; legal requirements; loan interest rates; loan default and enforcement; loan deficiency claims; recourse; cash management and reserves; credit enhancements; loan and financial covenants; bankruptcy and insolvency; secured assets; and single purpose entity
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Real Estate 2014 (published in November 2013; contributing editor: Joseph Philip Forte of DLA Piper LLP). For further information please visit www.GettingTheDealThrough.com.