Can foreigners own real estate property in Thailand?

Yes and No. The answer to this question is not as straight forward as you might think.

To answer this very important question correctly it is necessary to define in practical terms 'real estate property', and for that matter 'own'. Condos, Houses, Land, Business, Buildings - different rules apply.

Can a foreigner own a house? - really meaning the house and the land it sits on. Generally speaking the answer to this question is NO (and yes!).

The short and simple answer is that foreigners can own things on top of land, but not the land itself. However keep in mind that when it comes to land there are options available to have control, financial benefit, sell your rights to it, have your heirs inherit these rights etc. In other words despite restrictions, you can work within the rules as well as the spirit of the system to enjoy both quality of life as well as financial benefit. There are ways to invest in land and homes safely and for the long-term.

Thai society maintains a close relationship with the 'earth', with land; and has strict regulations regarding foreign 'ownership' of property. The Thai government restricts foreign real property ownership and for the foreseable future it should be expected to enforce regulations limiting direct foreign investments. But this does not mean that foreigners are excluded from living here nor enjoying financial benefit from real estate and business property. You can. It is just important to structure transactions appropriately.

Yes!: Buying a condo is relatively easy and straight-forward. Finally a short and to the point answer... but wait just when you thought you were finally getting what you wanted to know... buying condos has some quirks that require a little planning. Manageable, but still some rules to follow specific to foreigners. Please follow this link to our 'Buying a Condo' page.

Yes!: Buying a building or a house. Everything above the ground can be purchased and owned by a foreigner - but there can be complications in registering homes in order to have things like electrical service in your name etc. Number one rule is assume nothing - make sure all the steps (and related documentation) of your purchase or construction are worked out in advance. Some of the more rural district Land Department offices don't have experience with registering houses to foreigners and even some of the staff at the Immigration Department tend to answer with 'no, can't do it.'

First and foremost, make sure you engage a good local attorney. Get qualified legal advice, and get a second opinion. We can help refer you to qualified attornies and to help navigate through the property 'ownership' process.

While legally creative methods are still available as a work-around for regulatory restrictions on registering property purchases, particularly dealing with the new rules regarding limited corporations and equal voting shares for 'nominee' shareholders, we do not advocate this approach. Of course, if you just want us to find property for you we will. However unless you have a high tolerance for risk we suggest you take a skeptical view of statements from property sellers, agents and even attornies that suggest a solution to beat the system. We believe those days are over in Thailand. Especially considering that there are much better, and lower cost alternatives available.

The safest, most reasonable approach to property investment is leasing. The key is to have a reliable partner and to implement strategies to protect your investment against unnecessary tax burdens and to extend beyond the thirty year lease period that can be registered with the Land Department. Upon request we will provide comprehensive information on this very practical and low-risk approach.

Foreigner Property Acquisition options summary

The options for a foreigner buying property (including land) in Thailand are outlined below:

Registered Thai Company
The property is owned by the Thai limited company you have registered. The majority stake in the company is held by Thai shareholders.

Thai Marriage
Ownership of the property is registered in your Thai spouse's name. The foreign, usually, husband is required to sign a declaration that the property was purchased with funds belonging to his wife. He waives any right at all to ownership of the property.

Leasing
Thai law allows a foreigner to acquire land through a 30 year lease with an option to renew for a further 30 years twice, if agreed, giving a total of 90 years, effective ownership.

Structure Ownership
A Thai company or the Thai spouse of a foreigner may grant a Right of Superficies in favour of the foreigner, giving him the right to personally own all constructions on the land. A foreigner can be registered as the owner of a house without owning the land. The Right of Superficies can be conceded for 30 years and can be renewed for another 30 years, if agreed.

Condos
Foreigners are legally entitled to have full ownership of apartments in registered condominium buildings or 'condos' for short. The amount of foreign ownership within the development is limited to 49%.

Investment (BOI)
A foreigner who invests 40 million Baht or more over 5 years can buy up to one rai of land for residential use. Requires approval from the Board of Investment (BOI).