There are a number of legal issues to be considered when buying
property in Thailand. While it is well known that a foreigner cannot buy land outright in their own name, there are legally acceptable methods which allow
you to effectively own land. The most common way is to set up a Thai company which can purchase the land. As a foreign national you may not own more
than 49% of the shares in the company, but there are legal methods that can be employed to allow you to have sole control over the activities of the
company. Although a foreigner may not purchase land outright, the same does not apply to buildings on that land. Therefore properties can be acquired
with registered and renewable 30-year leases. The long terms of these leases means that you effectively own the freehold of the land. It is important
to approach any purchase with the same caution you would in your home country. There are of course pitfalls which you need to be aware of, but by employing
the services of a reputable professional to guide you through the purchase process, these can be easily avoided. (Note that the above is intended as a
general guide only and should not be considered as a substitute for expert legal advice) |
Travel Centre
