Can a foreigner own property/land in thailand?

Answer 1

The property ownership laws of Thailand are somewhat nationalistic, whereby foreign individuals can legitimately secure property only in certain ways. The main issue is real estate, but similar laws cover other items. If you are not legally established in Thailand and following procedures, then you will take risks.

Foreigners can buy some things outright. Other things must be leased or bought properly. The most common methods of properly securing property are:



* Be the largest shareholder of a domestic company, and have the company own the property (see details below, as you will own less than 50%, usually 39%); or

* Sign a 30-year (or less) lease with a domestic company or Thai individual, with an automatic option to renew for another 30 years. This is called the 2x30 ("two times 30") way.




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"It’s easy for you to own land in Thailand.

All you have to do is invest 40 million Baht (about $1 million) in a project considered “useful for Thailand” (not real estate, mind you). That minor detail out of the way, you then have to select the land you want from a list of approved areas (you didn’t think you could buy anywhere you want, did you?)

Finally, you can only continue to own property if your original investment is still in Thailand (if your $1 million investment leaves the country, you have a limited amount of time to sell the land). Piece of cake, right?

If, like me, you don’t have a spare million dollars lying around (or the temperament for the above rigmarole), there is a better way to own real estate in Thailand.

Although foreigners can’t own land freehold (with the $1 million exception) there exist several structures through which foreigners can legally purchase real estate:

Buy a condominium: The easiest way to own real estate in Thailand is to purchase a condominium (in an approved condominium complex). The only restriction is that the percentage of units sold to foreigners cannot exceed 49% of the total number of units in the condominium block, and that the funds used to buy the condominium have been remitted from abroad.

Lease with an option to buy: A foreigner can have the right of possession of land by registering a lease agreement for 30 years. The lease is renewable and is a legally binding document registered at the land office. You should incorporate into the agreement an option allowing you to purchase the land outright, should the law change and permit foreigners to own land in Thailand.

Usufruct interest: This type of agreement grants you temporary ownership rights on the property. In practice, a usufruct is limited to a 30-year maximum period, but can be successively renewed. The usufruct can be sold or transferred, but it expires upon the death of the holder, so cannot be inherited.

Limited liability company: This last option has recently come under scrutiny by Thai officials. As with land, foreigners can’t own more than 49% of a Thai corporation. A method that has been used by foreigners to get around this is to have nominee share holders who sign over their shares and then the shares are held by the foreigner’s attorney in trust. This effectively gives full control of the corporation and the land to the foreign owner. Recently the Thai government announced that it was going to start investigating the source of the money “used” by these Thai shareholders who presumably put up 51% of the property value when the corporation was set up." By Lief Simon

Answer 2

Yes, but only 49 percent of it. You can own a condo 100 percent. I would wait a while. The Thai government is going through some changes. The Bank of Thailand imposed some restrictions and rules about foreign ownership and then rescinded the rules. I would wait a year to see where the government is going with foreign ownership rules. The rules that the Bank of Thailand imposed for one day was that if you invested in Thailand assets you had to put up 30 percent to be held by the bank. So, if you brought in a USD100,000 to invest, they would hold USD 30,000. The Bank of Thailand did rescind that rule but, watch out. This was the reason the Thai stock market lost like 30 percent of its value last week. Because the rule was grandfathered in. Anyone with investments in Thailand sold their stock since they would have to put up another 30 percent to hold the assets. It's a bit of mess right now. No one is sure where it is going. What they did seemed quite different than what had been happening before the coup. They had been welcoming foreign investment. In fact, on Koh Samui there is an exemption to the foreign ownership rule only for that island where a foreigner could own 100 percent of the land.

I would read the english version of the Bangkok Post on a weekly or a periodic basis for an update. www.bangkokpost.com

If you were only interested in a condo this is not a time to buy in Bangkok. Prices are up since many suburbanites who moved out are trying to move closer to work since the cost of commuting has soared with the rise of oil prices.

And the 30 year lease way of buying is under scrutiny by the government. So be careful.

And one thing that is rarely discussed. You will probably have to do a major overhaul of a house every 10 years. Banks in Thailand ONLY give out 10 year mortgages. Ever wonder why? Ever wonder why some buildings look so drab and grayish. Well, because of the environment conditions of Thailand, heat, rain, and humidity, the exteriors only last about 10 years before they require major work. Condo buildings included. So, be careful.

Good luck

Answer 3

you can't own property unless your a Thai, however you can own a house on the property, and lease the land for 30 years with a 30 year extension. Currently the country is also looking at stopping a foreigner from forming a business with Thai partners so the Thai partner owns more then 50% of the business but is really only a nominee. I won't try it right now.

Answer 4

Damn it! Please don't ask such questions on sites like this! Most people have no idea of what they are talking about.
NO! Foreigners may NOT own land in Thailand. They may lease land, rent land, but not buy land. The Thais learned years ago that land is power, so keep the power of your country in the hands of your citizens.

dd

Answer 5

yes a foreigner can own a property in thailand.

Answer 6

Not exactly. I know people who do but they have to have a Thai person own most of it. I think there may be different laws for condos. I know 2 guys who own condos in Pattaya and on Koh Samui.

Answer 7

Technically YES

Answer 8

YES you can....but just don't get rip off...cause when they see foreigners they going to make the price more higher. just be careful about money and your belongings.

Answer 9

dondee is right best answer