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Foreign Property Ownership | What can Foreigners Buy?

Category : Buying | Posted On 2017-06-25 00:00:00

Foreign Property Ownership | What can Foreigners Buy?

There is a general perception that Thai property law is complicated. Actually, the opposite is true: the laws relating to what foreigners can buy and foreign property ownership in Thailand are quite clear. Foreigners can buy and own "freehold condominiums". Only 49% of the condominium building can be sold as "freehold condominium". Foreigners can take a 30-year lease on a property, registered at the land office and private contracts can add leasehold extensions.

Where things get complicated is in the methods and legal structures employed by lawyers on behalf of foreign clients to "get around" the rules on foreign ownership of land in Thailand. The most common of these is the use of Thai companies by foreigners to buy land. These methods and legal structures are legal, though they might not be in the true spirit of the law intended.

The ownership laws together with the legal structures used to circumvent them appear to provide a balance of convenience for both sides: foreigners get to buy properties in Thailand and Thailand benefits from purchase money coming into the country, increased employment in the construction industry and increased tourist revenue from visiting property owners especially in the retirement segment.

These legal structures have been used in various forms for many years and will continue to be used in the future. Call us today for more information regarding what foreigners can buy and legal property ownership at +66 93 606 0906.

 

 

Phuket Realtor
David Henry
David Henry is known for his integrity, high energy and hard work which goes into every detail or your real estate transaction at Phuket Realtor. David grew up in the Boston area and started as a realtor in his 20's. With over 30 years of experience in real estate, he has now started one of the best independent real estate agencies in Thailand.

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