A prenuptial agreement or premarital agreement in Thailand is unlike a prenup in Europe or Canada or for that matter in the US. Prenups in Thailand deal exclusively with property and do not set out terms in the event of a divorce. Divorce is handled through Thai Family Law and no agreement can change that, except a prenup which can dictate how Property is handled. We will examine all the legalities in the next section so that you have a clear picture. BUT the question remains, should you have one? Yes you should, unless neither couple has any property.
Thai Family Law & Property
When it comes to property, Thai Family Law allows a couple to choose which system will manage property during marriage and in the event of a divorce. There are two (2) systems available;
- Property System managed by their own agreement - Commonly referred to as Regime Conventional using a premarital agreement
- Property System managed by Law - commonly referred to as Regime Legal or Thai Family Law
If a couple chooses to manage property themselves then they will need to register a prenuptial agreement at the time of their marriage registration. If the couple does not register a prenuptial agreement at the time of their marriage registration then Regime Legal will control property.
Thai Family Law prohibits the registration of a prenup after the marriage has been registered. This means that the couple needs to prepare and agree to a prenuptial before they get married. Thai Family Law Section 1466 states;
"The ante-nuptial agreement is void if not entered in the Marriage Register at the time of marriage registration; or if not made in writing and signed by both spouses and by at least two witnesses and entered in the Marriage Register at the time of marriage registration, stating that the ante-nuptial is thereto annexed."
What Is A Prenuptial Agreement In Thailand
A prenuptial agreement in Thailand is an agreement that a couple, who is willing to register their marriage in Thailand, has agreed on how to manage or divide their own individual property. And that this agreement will be implemented instead of using the provisions of Thai Family Law.
A prenuptial agreement cannot specify the use of the law from any other country. It also cannot dictate the terms of a divorce settlement or who gets what. It will not affect how property is settled if this property is acquired after marriage. Property acquired after marriage is marital property and falls under the protection of Thai Family Law.
A prenuptial agreement can set forth the division of each person's assets in the event of death as well as divorce. It is important to keep the following in mind when preparing a prenuptial agreement;
- The agreement has to be fair.
- Full disclosure is required.
- The parties should have their own attorney.
- Think ahead. Presenting your intended with a prenup the week before the marriage is not good practice. For that reason, the idea of a prenup should be raised long before the marriage.
- Premarital assets are usually off limits. Prenups often state that any assets brought into the marriage remain that person’s separate property. However, each prenuptial agreement is tailored to the couple’s unique assets and the terms they agreed to.
- Setting the terms for alimony. In most instances, the agreement will either waive alimony or not address the topic. If alimony is waived, it means that one party cannot seek alimony from the other in the event of divorce. If alimony is not addressed Family Law will decide what alimony will be.
- Most prenups will allow each party to leave their separate property to whomever they want. Again the couple can decide what they want done with their own assets in the event of death. A question often raised concerns own property and a Last Will & Testament. Does the prenup take precedense over a Will? The answer is complicated but in some cases the answer is YES!
- A prenuptial agreement cannot provide for or limit child support or rights related to children. These are issues for Family Law.
What We Need Inorder To Draw Up A Prenup
Now that you have decided to have a Prenuptial Agreement drawn up here is what the experts at PCS need to execute your request;
- Passport and/or Thai ID Card of the parties.
- Passport and/or Thai ID Card of two personal witnesses.
- List of assets that each party reserves to be as their individual property. The most popular being:
- Title Deeds of any property
- Bank Account details (no need to mention amounts)
- Mutual Funds
- Stock or Bonds in the listed companies.
- Shares in any private companies.
- Intellectual Property.
- Any Businesses Owned
- Potential benefits from Retirement Savings Plan or from Social Security, or a Pension Fund
- Cryptocurrency
- The general terms you agree to
The rest you can leave up to us. We will format the Prenup and ensure that it conforms to Thai Law and we will provide a translation, so you will end up with a Thai version and an English version, that will be accepted by the district office and filed on the day you register your marriage in Thailand.
EXTREMELY IMPORTANT - We believe that Prenuptial Agreements or Premarital Contracts are extremely important in Thailand and thus we strongly suggest that clients should consult with a professional at PCS. We certainly do have solutions. And please remember the 1st consultation is totally FREE so don't hesitate to fill in the form below to contact us!
Contact PCS
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253 Sukhumvit 21 Road (Asoke), 25th Floor
Email Us
contact@pcsthai-1.com
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+66 2 109 5160