Can foreigners buy property in Thailand?

Can Foreigners Buy Property in Thailand?

Thailand’s Land Code Act restricts land ownership to Thai nationals. This means that foreigners cannot directly own land or houses in Thailand. However, there are ways for foreigners to acquire property in Thailand through various legal mechanisms.

One way for foreigners to own property in Thailand is through a condominium. A condominium is a type of property that is divided into individual units. Foreigners are allowed to purchase units within registered condominium buildings in Thailand. This is a popular option for foreigners who want to own a property in Thailand for investment purposes or for personal use.

Another way for foreigners to own property in Thailand is through a leasehold. A leasehold is a type of property ownership that gives the holder the right to use and occupy the property for a specific period of time. Foreigners can lease land in Thailand for up to 30 years, with the option to renew the lease for an additional 30 years. This is a good option for foreigners who want to use the property for business purposes or for long-term stays in Thailand.

Finally, foreigners can also own property in Thailand through a Thai company. A Thai company is a legal entity that is registered in Thailand. Foreigners can own up to 49% of the shares in a Thai company, which gives them the right to own property in Thailand through the company. This is a complex option that is best suited for foreigners who are planning to do business in Thailand or who have a long-term commitment to the country.

It is important to note that foreign ownership of property in Thailand is subject to certain restrictions. For example, foreigners cannot own more than 49% of the units in a condominium building. Additionally, foreigners cannot own land in certain areas of Thailand, such as national parks and military bases.

If you are a foreigner and you are considering buying property in Thailand, it is important to consult with a lawyer to discuss your options and to ensure that you are in compliance with all applicable laws and regulations.