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Leasing a Land for Commercial and Industrial in Case of Foreigner

Normally foreigner can lease the land in Thailand following rule that written in a previous article which can make lease agreement not more than 30 years and when that agreement ends they can renew an agreement not more than 30 years from the renewed day. After that, government sees the important of supporting investment in commercial and industrial business, so that government legislated for specifying a condition that different from general leasing for using in case of only leasing a real estate for commercial and industrial that foreigner can choose to lease the land that have area not over than 100 rai or more than 100 rai, therefore the rule for leasing the land that have area not over than 100 rai as follows;

Must have specify a period of leasing time more than 30 years but not over than 50 years that Lessee and Lessor may be settle to renew a period of leasing time not over than 50 years from the renewed day and leasing must be done in the document and registered with officer that otherwise it is invalid and Lessor must be owner of real estate only. A part of rights and duties of leasing that can use be guarantee repayment by mortgaging, descending to heir and Lessee gives to sublease or transfer leasing right to another person.

Next, law specified that real estate which will register for leasing must be in area that specifies is the land For commercial or industry in law of city plan or Industrial Estate and For commercial or industrial which will register must have quality is commercial that have investment not less than 20 million baht , industry that can obtain supporting investment in law about supporting investment and commercial or industrial which is beneficial for economy and society of country as announced by the Minister.  Finally, for the type of commercial or industrial which give to foreigner register leasing must be the type of foreigner can do business legally as well.

However, in case of leasing a land that have area more than 100 rai besides must be in as above mentioned rule and must be under one of rule as follows ; Commercial or Industrial must be business that added value of exporting or supporting of employment in the country or be business that are not in kingdom or there is not enough or be business that have modern process or develop technology or be business which is high beneficial for economy and society of the country as announced by Ministry that by right understanding of Cabinet or In case Foreigner is Lessee ,Subtenant or Leasing right transfer receiver commercial and industrial business must have investment not less than 100 million baht that not included leasing fee and must bring foreign currency import into kingdom or withdraw money from foreign currency deposit account or withdraw money from accounting of person who living abroad by total investment amount.


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