Long-term lease agreements in Thailand are generally limited to a maximum term of 30 years and may then be renewed for another 30-year term under Section 540 of the Civil and Commercial Code of Thailand.
Under certain circumstances, however, the Lease of Immovable Property for Commercial or Industrial Purposes Act of 1999 grants a maximum lease term of 30-50 years if the lease has an industrial or commercial purpose. After this initial term, an extension of 30-50 years is possible. Similar to an ordinary long-term lease, this extension term can only be registered after the initial term has already lapsed.
Regional comparisons: Thailand's neighbours have similar regulations, but the duration of the maximum lease term is generally longer. In Vietnam, for example, the term for an ordinary lease can be up to 50 years, and even up to 70 years in specific areas with approval from the prime minister.
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