How to buy a property in Thailand?
Thai law: Foreigners are allowed to own commercial buildings, condominium units and houses in their own name.
Foreigners are not allowed to own Thai land in their name. However, foreigners have several different ways how they can buy land.
- Investment (BOI)
- The romantic solution
- Set up Thai limited company
- 30-year renewable lease with purchasing option
A foreigner, who invests up to 40 Million Baht for no less than 5 years, is entitled to buy up to 1,600 Sq.M of land for residential purposes. However, the permission from the Ministry of Interior must be obtained.
The romantic solution:
For single buyers, meet and fall in love with a Thai person you trust then marry her and buy a Baan WANA Pool Villa in her name. To protect your rights, you can rent the house back from her in your name. The long-term rental agreement you best set up before you buy the property. This beautifully and simply solution is one of the most romantic solutions in Thailand.
Set up Thai limited company:
One of the strongest structure to purchase land for foreigner client is through a Thai Limited Liability Company. In Thailand, a Limited Company which is a Thai Juristic Person has long been the most popular way of enabling foreigners to purchase properties in Thailand. In a simply way, the company owns the land. And you, as a foreigner owns the company shares. Though, the foreigner can own a limit of 49% of the company shares. However, you can legally be the only signed director who can control any contractual dealings. This Option allows the foreign buyers to have complete and secure control over the company and all its assets. The yearly cost for manage this company will be depend on your lawyer or on your bookkeeper. Our Lawyer charge from 50,000 - 70,000 baht.
30-year renewable land leasehold with purchasing option:
As mention above, foreigners can own villas in their own name and in the same time they can lease the land on which the villa is built. Land leasing is legally the simplest, most straight forward way to own land in Thailand. Land leasehold contracts cover a period of 30 years with an option to extend 2 times. The leasehold agreement protects the rights of the buyer at all time, even when you want to resell your property in the future. The land title can be converted from leasehold into freehold at all time. Therefore, leasing is currently seen as a reliable solution until a more agreeable option is introduced. From the moment the law changes in the way that foreigners can own land in Thailand, we will register the transfer right away into your name.