If your customers or clients are limited to a certain location, renting a virtual office is more preferable. Property investment is indeed a huge decision, taking up a lot of time, effort and money, of course. Businesses are advised to rent premises, therefore. Besides, buying a property for a foreigner in their name may not be possible. The lease facility is in fact very cost-effective.
Benefits of Renting a Premise
- Rents are low compared to property values;
- Liquidation of property can take a lot of time, several years may be;
- Long-term leases are possible for foreigners;
- Prime land is relatively expensive;
Registering for Long-Term Lease
Being a foreigner you are allowed to lease property or land, for that matter, for 30 years. For your information, the agreement needs to be registered with the local office of the Land Department. As for the government fee, it is 1.1% of the rent payable over the lease term. You will also need to pay a certain amount of registration fee. These are the documents you will require for registration by the Department of Land;
- Passport or ID card and its copy (duly signed),
- Residence certificate (from your Embassy or Immigration),
- Property documents (chanote),
As you apply for registration, the government official will ask you to complete the Tor Dor 1 (form) along with your signature.
