Can a foreigner buy a house in Thailand?
Foreigners looking to buy a house within Thailand can follow a very simple investment process, which involves the choice of two options. The most favorable and the recommended way for foreigners to own houses in Thailand, is to go down the route of opting for a long term lease, which is automatically renewable. Another popular method is to setup or buy an existing Thai company, to secure ownership of the house under a freehold structure.
Both structures have benefits and negatives. While the leasehold structure doesn’t obviously secure title ownership, long term leaseholds are incredibly common with foreigners buying property in Thailand and are also very secure. Long term leaseholds are commonly used when purchasing property in a modern residential development in Thailand. Whilst the terms of such agreement will vary from one development or property to another, typically an initial leasehold will be taken out for a period of 30 years and can have an automatic renewal clause if structured correctly.
The second option which involves setting up a Thai Limited Liability Company means that the majority shareholder under Thai law would need to be a Thai national. An agreement would then be put in place that would result in the Thai entity handing over complete power of attorney to the foreign partner, which would then provide them with a significant degree of security in the venture, and in turn in the ownership of the property.
As with any real estate investment anywhere in the world, we recommend to seek good legal counsel to fully understand your options and ensure that you are legally protected.
Renting land in Thailand
A foreigner can rent arrive for a long time in Thailand. In any case, renting is fairly bizarre, as a rule this happens when an outside man weds a Thai lady: the Thai lady, as a Thai resident, buys the land and stipulates a rent concurrence with her remote spouse.
Regardless of who you rent from, ensure that all information on the deed is precise, and that the land you are renting has the suitable title. Generally, the renting contract expresses the length of the rent, the purchaser’s entitlement to exchange it and the enrollment charge.
Land can have distinctive titles in Thailand, contingent upon elements, for example, the area or whether it can be rented to a foreigner or not. There are seven sorts of land titles yet only three of them can be rented: Chanot, Nor Sor Saam Gor and Nor Sor Saam.
Obtaining land through an organization
Another option, is to set up a Thai Limited Company. On the off chance that you conclude this is the best choice for you, know that as a foreigner, you can’t hold half or the greater part of the organization’s offers. Consequently the organization must be no less than 51% owned by Thai resident. They would then be able to sign over their organization rights to you. Note, that the Thai Immigration office knows about this sort of systems and will positively screen your business.
Buying an apartment as a foreigner
Because of the legitimate limitations said above, most foreigners decide to just purchase a townhouse or apartment in Thailand. Be that as it may, a foreigner can just buy a townhouse in his/her own particular name, as long as no less than 51% of the building is owned by Thai people. Refer website to get more information.