How to Buy Land in Thailand
It is no secret that just about everybody who visits Thailand thinks about buying some type of property there. Being one of the most beautiful tropical paradises on the planet with everything you could ever want; people who live in ‘the real world’ can easily see themselves retiring in this amazing country.
Whatever the reason may be, purchasing property in the ‘Land of 10,000 smiles’ will put you in great company and there is a good reason for that. After all, there has to be some reason that the city of Bangkok is one of the most desirable destinations on the planet. However, we are often asked ‘How to Buy Land in Thailand’? It’s worth noting that easy unless you know how, and thanks to spending many years on the island, we do.
With it’s rich and elegant culture, Bangkok is one of the few cities in the world that can give you all of the comforts of being at home, but a sense of wonder and mystery at the same time. For any foreigner who has ever purchased property in Bangkok, this is one of its biggest selling points. While Bangkok is unofficially known as ‘the Venice of the east,’ the ancient palaces and temples will keep you busy exploring during the daytime, and the nightlife will keep you busy till the early morning hours. Now let’s add in the short distance to some of the most desirable beaches on the planet, rolling mountains that just don’t quit and the other Asian countries that are just a stone throw away; you know have more than enough reasons to purchase real estate in Thailand.
However, before you get your hopes up and think that you can just buy a piece of the dreamland known as Thailand, there are a few things you need to know first. Here are some things to consider before you purchase your Thailand dream property.
You Think You Can Own Land in Thailand?
Unfortunately, by law, a non-Thailand native cannot own any land in Thailand. If you are set on owning a piece of Thailand, you can either do a long-term lease, which usually involves getting married to a native Thai citizen.
The other method is to start up a Thai Limited Company. But just so you know, if this is the route you decide to go, as a foreigner, you cannot own more than 50% of the company. So a native Thai citizen must own at least 51% of your company. The only exception to this is if you are a United States citizen, which you can then have full ownership, but the Thai government will then monitor your business extremely closely.
While this may sound like a deal breaker, it actually isn’t. You see, as a foreigner, you are unable to own anything that is considered ‘landed’, or touching any land in Thailand. Which brings us to the next point.
Condos in Thailand Are Fair Game
Since Thailand has such tight restrictions for foreigners to buy land, many people simply buy an apartment or condo instead. Unlike a foreigner buying land in Thailand, you are able to buy an apartment or condo, as they don’t actually touch the land. That means you will own the apartment or condo outright.
While the Thailand government doesn’t want foreigners to destroy the history, culture and beauty of Thailand that is the same exact reason so many people want to move there. With options available to help you buy in Thailand, it only makes sense that you take advantage of this once in a lifetime opportunity while you still can.
If you are looking to buy property or land on Koh Samui or Koh Phangan, Thailand please call or email the experts, we are ready to help.