Your most frequently asked questions about property in Thailand – answered.
Normally, foreigners cannot purchase and own land in Thailand in their own name. However, there are other alternatives for foreigners who want to acquire land or property.
The most common option to own land on your behalf is to set up a Thai Limited Company. Another option to consider is to own the property as a joint asset with a Thai spouse with who you have a marriage certificate.
Under Thai law, foreigners can have freehold ownership over condominium units. However, the condominium units shouldn’t exceed 49% of the total space of the condominium project.
As a foreigner, you are allowed to transfer the condominium to other foreigners.
Yes. Anyone who wants to buy a property in Thailand, including foreigners, is allowed to do so without being present at the time of registration of ownership at the Land Department. However, you have to appoint a power of attorney, such as a lawyer, to act on your behalf.
Foreigners cannot normally own land in Thailand, but there are alternative ways to do it.
Foreigners can rent out the property they own in Thailand. There are some Thai banks that allow you to open an account to collect the rent. However, you have to be aware that personal income tax will be deducted from your income earning in Thailand.
When it comes to buying and selling property in Thailand, working with an agent can be really helpful and beneficial.
You can obtain construction permission at the Local Administration organization, known as Aor Bor Tor, or the Municipal Office where your land is located. You have to submit a structure plan certified by an engineer or an architect.
If you lease land for three years or more, you have to register it with the Land Department, and you have to pay some fees.
The maximum duration of a land lease is 30 years, but you can renew it for another 30 years if the owner agrees. To ensure the tenant’s rights, the land title deed should be in possession of the tenant under an agreement.