One of the best options for realising the benefits of property ownership in Thailand is a long term 30 year lease. Many foreigners in Thailand choose the Thai lease option because it is easy to understand compared to setting up a Thai Company or registering a Thai usufruct or superficies. Although Thai leases are less complicated, they still have legal formalities which must be followed in order to be properly honoured under Thai law.
A common misunderstanding with a long term Thai Lease, is that one can obtain a 99 year lease as in other countries. Under Thai Property Law a lease may only be registered on property for a period not exceeding 30 years. Many people claim that a Thai lease can be had which has an automatic renewal every 30 years up to three times, but this is simply not possible.
Only a written lease agreement in Thailand is enforceable by law and a lease agreement exceeding three years is only enforceable for the term exceeding three years if the agreement has a Thai language version registered and entered into the local land registers office and endorsed on the land title deed copy of the owner.