Can a foreigner buy land in Thailand>

Discussion in 'Thailand property' started by egeefay, May 21, 2007.

  1. egeefay

    egeefay Senior Member

    Can a foreigner own land in Thailand?

    Foreigners have never been allowed to own land in Thailand (with a few exceptions)

    In fact the rules were so prohibitive that not long ago a Thai who married a foreigner lost his/her rights to own property in Thailand.

    Of course if you visit Thailand today you’ll notice that lots of foreigners own villas and houses in Thailand. What gives?

    Until the new government took over in the recent coup, foreigners could take possession of houses and the land under them using a “shell company”. Though not technically legal, the government, anxious to encourage investment in Thailand ,turned a blind eye to this loophole.

    Then new government marched in and decided to put a stop to the practice.
    They are now in the process of revising the old Foreign Business Act.
    What the new act will look like is anyone’s guess
    Hence There is currently a lot of confusion and uncertainty in the Thai property market

    For now Thai lawyers are recommending that their foreign clients steer clear of trying to form “companies” to own land.

    Buying a house and Leasing land under it for 30 years is perfectly legal in Thailand
    (although that begs the question..”what happens when the lease expires?” )
    Most lawyers are recommending if you want to buy a house in Thailand you go this route for now….. or wait until the government finally revises the Foreign Business Act.
    I’ll keep an eye on this and let you know if I hear of any changes.

    Another route to buying a house in Thailand is to be married to a Thai or to have someone you really trust, like an adult Thai son or daughter buy the property in their name. I don’t have to elaborate on the pitfalls you could run into using this route. But if you’ve been married to a Thai woman for 30 years, like I have, you can probably sleep a little easier than they guy who meets a Thai bar girl and brilliantly decides to get married and buy a house in her name. Thailand is full of sad stories of “farangs” who made that mistake.
     
  2. higherstate

    higherstate New Member

    Hi, any more news on any changes to the foreign ownership laws?
     
  3. agentkhoo

    agentkhoo New Member

    Thailand still the same - why not consider Vietnam

    Its not changed much, the new government that has just come on board has been sworn in, but there is still quite a bit of fighting, as it is similar to the Thaksin government, very pro-foreign investment, but there are many people who are still fighting such pro-foreign investment policies in Thailand.

    Which is making it very difficult for investors and foreigners who are trying to do business there. The situation is very similar in Vietnam, where the property market is booming over there. And they have just relaxed rules slightly, allowing foreigners to buy property with a 50 year lease (which is slightly better than in Thailand).

    I have a good friend (we're Singaporean), who was lucky enough to marry a Vietnamese, and is now a property developer in Vietnam, mainly HCMC based, this friend of mine can buy land and build shopping malls.

    If you like that part of the world, you might want to consider Vietnam as well. The standard of living in Vietnam is soaring by leaps and bounds, and the Junta government doesn't seem to be as hard-nosed as it used to be.
     
  4. pectin232

    pectin232 New Member

    Hi Khoo can you send me email at pectin232 at yahoo I am interested to ask you more. I am also from Singapore but living in the states and interested in some foreign investments....
     
  5. Sean@Phuket

    Sean@Phuket New Member

    Hi higherestate

    The laws in Thailand have not at all change just yet, there are always rumors circulating of change taking place but as yet nothing concrete. However, are you aware that a foreigner can own a condominium outright?

    The rumors always center around leases changing from 30 year to 75 year terms but nothing has come into the fray so don't take to much notice if you here otherwise.

    At the moment Thailand buyers continue to use the 30 year lease with an additional 30 + 30 years after, some choose to set up 'proxy' companies to own through the company and of course some own condominiums outright.

    Hope I am of some help

    Sean
     
  6. waynehyl

    waynehyl Banned

    is anyone interested to own a freehold seafront villa at Langkawi Island?
     
  7. davemacca

    davemacca New Member

    Can i purchase land as a foriener and some how have my 2 year old son inherit the property? , i do not wish to own the property
     
  8. Dave_Velasco

    Dave_Velasco New Member

    Hi I think there are certain considerations or conditions set by the government for a foreigner to be permitted to own a land on Thailand.
     
  9. CNX_Bruce

    CNX_Bruce New Member

    There are many people out there looking for reliable info on Thai property lawsa ... and there are many sites that will turn up in a google search on thailand real estate ... but many of them are maintained by property developers, etc. One site that provides reliable free info - and which I have no links to by the way - can be found at samuiforsale.com
     
  10. jimko

    jimko New Member


    dont mean to piggy back, i am interested in buying a property in koh samui thailand , was just wondering how cash goes down over there when buying property ??., any ideas. thx
     
  11. CNX_Bruce

    CNX_Bruce New Member

    Hi Jim
    It is quite common for purchases to involve handing over large amounts of cash. There is no negative connotation as in a western country. There are situations however when it may well be in your own best interests to retain a clear paper trail, for example should litigation subsequently occur involving divorcing a Thai national, problems with company directors, etc. I assume you have already done all your homework about property ownership laws, etc (?)
    - Bruce
     
    Last edited: Oct 30, 2012
  12. NickPendrell

    NickPendrell New Member

    Be careful of bringing in large quantities of cash if you are planning to buy a condo under Foreign Ownership.

    In order for a condo to be registered under Foreign Ownership, you will need to prove that all funds used for the purchase originated from overseas. Naturally you won't be able to do this if you brought cash into the country and did not receive a form from customs stating that the cash was brought in for the purpose of buying real estate.

    As a result, you are probably better off wiring the funds when you get back after the viewing trip.
     
    Last edited by a moderator: Jan 19, 2013
  13. Sincere

    Sincere New Member

    I think a foreign investor can still renew after the 30 year lease period. But what happens if the laws change on foreign investment in real estate in the near future, will the properties owned by foreigners confiscated by the Thai government?
     
Loading...

Share This Page