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.

Buying Land in Thailand – Key Points for Foreigners

Overview

Buying land in Thailand is complex for foreigners due to ownership restrictions.
Many expats put land in their Thai spouse or partner’s name without legal protections, which can risk losing the investment in disputes or divorce.
Always protect your rights by seeking legal advice and professional help.

Important Steps Before Buying Land

Use registered Thai lawyers and reputable estate agents.
Avoid common mistakes by doing thorough research.
Familiarize yourself with local land measurements (Rai, Ngan, Square meters).
Use online tools like Rai to Square Meter converters for better understanding.

Options for Foreigners to Acquire Land in Thailand

Option	Summary	Pros	Cons
1. Thai Company	Set up a Thai Limited Company to own land legally.	Full ownership rights; legal land ownership	Complex registration, tax issues, shared company control, business activity required
2. Leasehold Agreement	Lease land for up to 30 years, with possible renewals.	Simple, transferable, no shareholders	Not freehold; renewal not guaranteed
3. Marrying a Thai	Land owned by Thai spouse; foreigner waives rights legally.	Easier if married	Foreign spouse has no legal rights; risks in divorce cases

More Details:

1. Setting up Your Thai Company

Commonly a Thai Limited Company owns land.
Must meet business registration and tax rules.
Amity Treaty helps Americans with business but not with land ownership.
Consider corporate taxes and work permits if running a business.

2. Leasehold Agreements

Preferred by most foreigners.
Lease max term is 30 years.
Renewal depends on land office and lease contract.
Leasehold can be sold or transferred like freehold.

3. Marrying a Thai

Land must be in Thai spouse’s name.
Foreign spouse signs waiver of land rights.
Must declare funds used are Thai spouse’s separate property.
Divorce can complicate property claims.
Prenuptial agreements recommended to protect rights.

Final Advice

Don’t risk putting land in a Thai partner’s name without legal protections.
Consult experienced lawyers to ensure your investment is safe.
Understand the pros and cons of each option before deciding.

Contact Us for More Information
📧 Email: contact@centralcityproperty.com
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