CAN FOREIGNERS BUY PROPERTY IN THAILAND?

If you’re a foreigner looking to buy property in Thailand, it’s important to do your research and understand the different ownership rights and restrictions that apply. Owning a condominium through foreign freehold ownership is the most straightforward option, but there are also options for owning a house on a parcel of land through a holding company, or via leasehold ownership.

If you want to buy a house in Thailand, you can do so by purchasing a Thai company freehold. This means that the Thai company owns the property, and as a foreigner, you can maintain control of the company by dividing the remaining 51% among Thai nationals. This is a legal option and is commonly used by foreign buyers to obtain property in Thailand.

Foreigners can also own up to 49% of a condominium block through foreign freehold ownership. This option is based on the total available living space rather than the total number of units, so you can own multiple units as long as the foreign quota for living space doesn’t exceed 49% of the total living space available.

Leasehold options are available for all types of property, including land. A leasehold agreement is the cheapest and easiest way for foreigners to obtain property in Thailand, and leases can run for up to 30 years, with the possibility of renewal for up to 90 years.

It’s important to ensure that all parties have the correct information when entering into any type of property ownership agreement in Thailand. Thorough research and the guidance of a good lawyer can help you navigate the process.

At Phuket Property Group, we offer free property consultations to help you make informed decisions about buying property in Phuket. Contact us to learn more about the options available to foreigners looking to invest in property in Thailand.