Can foreigners own property in Thailand?

Foreigners can own freehold condominium units (up to 49% of a building’s total units) but cannot directly own land. Alternatives include long-term leases (up to 30 years, renewable) or owning land via a Thai limited company with Thai majority shareholders.

What are the restrictions on foreign land ownership in Thailand?

Thai law prohibits foreigners from owning land under the Land Code Act. Options include leasing land for up to 30 years or setting up a Thai limited company (51% Thai-owned) to hold the land title.

How can foreigners buy a condo in Thailand?

Foreigners can buy freehold condos if the foreign ownership in the building is below 49%. Funds must be transferred from abroad, documented with a Foreign Exchange Transaction Form (FET). A lawyer is recommended for due diligence and title transfer.

What are the costs and taxes when buying property in Thailand?

Costs include transfer fees (2% of appraised value), withholding tax (1% of appraised or sale value), specific business tax (3.3% if sold within 5 years), and stamp duty (0.5% if no SBT applies). Legal fees range from 20,000–30,000 THB. Condo buyers may also pay sinking fund fees.

Can foreigners get a mortgage to buy property in Thailand?

Thai banks offer limited mortgages to foreigners (40–70% of property value, up to 15 years, with high interest rates of 6–9%). Eligibility requires proof of income and residency. Some developers offer financing, or buyers use overseas loans.

What is the process for buying property in Thailand as a foreigner?

Steps include finding a property, hiring a lawyer and agent, conducting a title search, signing a purchase agreement, transferring funds with a FET, and finalizing ownership at the Land Office (30–60 days).

Is it safe to buy property in Thailand as a foreigner?

Buying is safe with proper due diligence—hire a reputable lawyer, verify the seller’s title, and use registered agents. Risks include unregistered agents or buying without legal checks.

Can foreigners rent out their property in Thailand?

Foreigners can legally rent out their property, subject to income tax on rental earnings (progressive rates based on income). Management companies can handle rentals, but owners must comply with TM.30 tenant reporting.

What are the visa implications of buying property in Thailand?

Buying property does not grant visa privileges. However, investing 10 million THB in real estate may qualify for the Thailand Elite Visa (5–20 years). Standard visas (e.g., retirement, business) require separate applications.

What are the risks of buying property in Thailand as a foreigner?

Risks include buying without due diligence, using unregistered agents, condo depreciation, neglected building maintenance, or legal issues with leaseholds or companies. A lawyer mitigates these risks.

Property Ownership Options for Foreigners in Thailand

Foreigners are not allowed to own land outright in Thailand, but there are legal and practical ways for non-Thais to own or control property. Here are the main ownership structures:

1. Condominium (Freehold Ownership)

Foreigners can legally own condos in their name.
The building must reserve at least 51% of its total unit area for Thai nationals.
You can own 49% of the total sellable area in a condominium project.
You’ll need to transfer funds from abroad (in foreign currency) for the purchase and document this with a Foreign Exchange Transaction Form (FET).

✅ Best for: Simple ownership, no complicated structures.

2. Leasehold Agreement

Foreigners can lease land or property for up to 30 years, with options to renew (often twice, reaching up to 90 years total).
The lease must be registered with the Land Office.
You can own the structure (house or villa) on the land even if the land itself is leased.
Often used for villas, bungalows, or commercial use.

✅ Best for: Long-term control without company setup.

3. Thai Limited Company

You can form a company in Thailand where Thai nationals must hold at least 51% of shares.
The company can then own land legally.
Foreigners can be managing directors and retain full control through the use of preferred shares and voting agreements.
This method must be structured carefully to comply with the law and avoid being flagged as a nominee setup.

✅ Best for: Business-minded investors or those looking for land ownership control.

4. Usufruct, Superficies & Habitation Rights

These are legal rights granted by the landowner (usually a Thai partner or company) to a foreigner:
- Usufruct: The right to use and benefit from the land for life.
- Superficies: The right to own a building on land owned by someone else.
- Habitation: The right to live in a property.

✅ Best for: Couples or family arrangements where one partner is Thai.

🔍 Summary Table: Property Options for Foreigners in Thailand

Ownership Method	Can Own Land?	Can Own House/Building?	Control Length	Foreign Ownership Legal?
Condo (Freehold)	❌	✅	Unlimited	✅ Yes
Leasehold	❌	✅ (on leased land)	Up to 90 years	✅ Yes
Thai Company	✅ (via company)	✅	Unlimited	✅ (with structure)
Usufruct/Superficies	❌	✅	Life or fixed term	✅ Yes

Contact Us for Expert Guidance on Buying Property in Thailand

Navigating property ownership in Thailand as a foreigner can be complex, but you don’t have to do it alone. Our experienced team at Central City Property specializes in helping international buyers understand their options, avoid common pitfalls, and complete transactions smoothly and legally.

Central City Property
Email: contact@centralcityproperty.com
WhatsApp: +66959920345