HOW TO OWN PROPERTY IN THAILAND

Can Foreigners Own Property in Thailand?

While foreigners cannot directly own land in Thailand, they can legally own buildings, purchase condominiums, or acquire long-term leases on land. Additionally, property ownership can be structured through a Thai company.

Ownership Options for Foreigners:

1. Condominium Ownership:

• Foreigners can own freehold condominium units, but foreign ownership is capped at 49% of the total saleable area in a condo project.
• If the foreign quota is full, you can lease a unit instead.
• Leasehold agreements typically last 30 years, with renewal options.

2. Long-Term Lease Agreements:

• Foreigners can lease land for up to 30 years, with an option to renew.
• A lease allows you to build and own a house or villa on the leased land.

3. Purchasing Property via a Thai Company:

• Foreigners can establish a Thai company (where Thai nationals own at least 51%) to purchase land and buildings.
• This structure allows indirect ownership under the company’s name.

Key Considerations:

Due Diligence:

• Conduct a thorough legal and financial review before purchasing property.

Legal Assistance:

• Consult with a Thai real estate lawyer to navigate regulations and ensure compliance.

Title Deed Verification:

• Perform a land title search to confirm ownership and check for encumbrances.

Land Office Registration:

• All property transactions must be registered with the Land Department.

Taxes & Fees:

• Be aware of land and building taxes imposed by local authorities.

Marriage to a Thai National:

• A foreigner married to a Thai national can have land registered under their spouse’s name.