Foreign companies can own certain types of property in Thailand, but with strict limitations. Here’s what you need to know:
🏗️ What Can a Foreign Company Own?
| Property Type | Can Foreign Company Own It? | Notes |
|---|---|---|
| Condominium Units | ✅ Yes (up to 49% of total units) | Must comply with the Condominium Act |
| Land | ❌ Generally not allowed | Very rare exceptions exist (see below) |
| Buildings (not land) | ✅ Yes | Can own the structure but not the land beneath |
| Leased Land | ✅ Yes (max 30 years) | Renewable leases often used in practice |
🏢 Foreign Land Ownership – Are There Any Exceptions?
Foreign companies may own land in Thailand only if:
- They receive BOI (Board of Investment) privileges for certain promoted activities (e.g., manufacturing, tech, export services)
- They are approved by the Industrial Estate Authority of Thailand (IEAT)
⚠️ These exceptions do not apply to residential or holiday homes. They are only for industrial or commercial use.
⚠️ What About Thai Companies with Foreign Owners?
Many people try to set up a “Thai” company where:
- Foreigners hold 49%
- Thai nominees hold 51% on paper
🔴 Warning: This is illegal if the Thai shareholders are not real investors. It violates the Foreign Business Act and may result in:
- Property seizure
- Criminal penalties
- Company dissolution
✅ Legal Ways for a Foreign Company to Control Property
| Option | How It Works | Legal? |
|---|---|---|
| Leasehold | Sign a 30-year lease (renewable) | ✅ Legal |
| Own condo units | Buy within the 49% foreign quota | ✅ Legal |
| BOI/IEAT company land | Use for industrial activity | ✅ Legal (but not residential) |
| Structure ownership | Own building, lease land | ✅ Legal |
📝 Summary
Foreign companies:
- ✅ Can own condo units, buildings, or lease land
- ❌ Cannot own freehold land unless approved under BOI or IEAT (industrial use only)
- 🔴 Should avoid nominee shareholder setups, which are illegal
