IDEAL Real Estate

How foreigners can own property in Thailand

There are two ways in which foreigners can enjoy ownership of property in Thailand, either leasehold or freehold. Foreigners cannot own land in Thailand but they can own buildings. 

Leasehold 

Under this method, you enter into a lease agreement with the land owner for a maximum period of 30 years with an option to renew for a further two periods of 30 years each. The lease is registered at the local Land Department office. Any buildings on the leased land can be registered as being owned by a foreigner. A lease agreement for land can be entered into by a foreign individual or by a foreign registered company. Some foreigners choose to enter into a lease agreement through an offshore registered company, e.g. BVI, as this can simplify future disposal.

Freehold

Foreigners can own the freehold title of a registered condominium. The developer of a condominium can make available up to 49% of the units to foreigners.

Foreigners can also own freehold land in Thailand by setting up a Thai company in which they can have no more than 49% of the shares. The remaining shares must be Thai ownership.

We recommend that you seek legal advice before embarking on any property purchase in Thailand to ensure that the structure is best suited to your present and future needs and circumstances.

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