Every expatriate who sets his or her eye on the Kingdom of Thailand would find it to their benefit to retain the services of a legal advisor. You can consider this advisor as your reliable partner in whatever endeavor you plan to undertake in the Kingdom. In fact, every foreigner in Thailand that looks to invest in the economy should tap a legal advisor!
Here are two situations that you will definitely need to consult a legal advisor before making any moves towards your plans.
Buying Real Estate
As a foreigner, you have certain rights when it comes to acquiring real estate. For instance, foreigners are not allowed to own land unless he or she is part of a corporation that infuses a significant amount of money into the local economy. On the other hand, foreigners can legally acquire condominiums either through purchase or through long-term lease.
How does a legal advisor fit into this? His or her knowledge of Thai law will help foreigners navigate through the legalese and technicalities involved in acquiring real estate legally. The advisor could help in negotiating lease terms, thanks to his or her fluency in the Thai language, a barrier which could lead to potential misunderstanding and legal conflicts later on.
Investing in a Business
Investing in Thailand is an attractive prospect especially for foreigners. The country’s cheaper standards of living mean that a business theoretically costs less to operate in the Kingdom than in other countries. However, as a foreigner, there are laws that you have to comply with continually when you’re managing a business in the Kingdom.
The legal advisor is a perfect partner to tap in this situation. An intimate knowledge of the legal landscape is a must for any businessman, but not all businessmen are lawyers. They are too busy, more often than not, with setting up their companies to study the law. With an advisor on their side, however, they can be sure that there are no brushes with the law that could cost them their investment and hard-earned savings.
Starting up a business in Thailand is a lot more complicated than purchasing real estate. With the help of your legal advisor, you can, for instance, make sure that the employment agreements that you make your employees (particularly local Thais) are legal. You would also need to apply for legal protection of your business assets, particularly your intellectual property.
That itself is a world on its own, and definitely a task that a legal advisor can help you out with.
There are many other reasons why, if you’re looking to invest in Thailand, you need to talk to a legal advisor right now and see how the firm can help you.
If you’re interested in investing in Thailand through a business or a real estate property, don’t hesitate to contact us. Shoot us an email or give us a call right now, and we will be definitely happy to help you out with your legal concerns. We look forward to getting in touch with you.
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Photo credit : Thomas Hawk
