Land ownership for foreigners

Buying Land in Thailand (Thailand Real Estate)

So, you have been to Thailand many times, and you would love to stay in the country even longer. The idea of making Thailand your second home excites you. Well, you are not alone. Buying property in Thailand has become more popular in the past decade with the influx of tourists and retirees in Thailand.
But how much do you know about owning property in Thailand? Are you well aware of the common property problems faced by foreigners in this country? Before you begin your search, do your homework, and watch out for the many problems that may arise in attempting to acquire property in Thailand. Your first question might be, “Is a foreigner allowed to own land in Thailand?” Generally, a foreigner is not allowed to own land in his or her name; however, their Thai registered company can. There are different business entities in Thailand and the most commonly used for this purpose is a Thai limited company, in which certain business registration criteria must be satisfied.
There are alternatives available to foreigners for successful land acquisition. Another option is to enter into a long term leasehold agreement with the land owner. It is an uncommonly known fact that although a foreigner cannot own land in Thailand, he can own the house or structure built on one. After completing the leasehold agreement, the foreigner will need to apply for a construction permit to build the house in his own name.
Another way to own land in Thailand is marrying a Thai national. In this case, they can own land as a couple. However, the land or property in Thailand must be registered under the Thai spouse’s name, hence, the foreigner spouse is forfeiting any claim on the land or property. This can prove to be a disadvantage for the foreigner spouse, especially if the marriage ends in a messy divorce, so a well-drafted Thailand prenuptial agreement may help minimize the risk.
After learning the basics of land or property ownership in Thailand, know the steps involved with buying real estate in Thailand. Select a trusted property agent, learn more about Thailand property taxes, title investigation, reviewing contracts and be involved in more legal planning. If you are in doubt, use the legal services of registered and reputable lawyers in Thailand to protect your interests and ensure that you are much closer to owning your piece of paradise.

This article was provided by Siam Legal, an international law firm with offices in Bangkok, Chiang Mai, Hua Hin, Pattaya, Phuket, and Samui.
Siam Legal publishes legal guides to dealing with property in Thailand on its website.

Siam Legal International
Interchange 21 Building, 23rd Floor,
399 Sukhumvit Road North Klongtoey,
Wattana, Bangkok 10110 Tel: 662 259-8100