November 20, 2023

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How to buy a villa or house in Thailand

Navigating the Legal Process and Regulations for Property Purchase in Thailand

Are you interested in purchasing a villa or house in Thailand? If so, you should take some essential steps to ensure a successful transaction. To buy a property in Thailand, you will need to find a reputable real estate agent who can guide you through the process. You should also conduct thorough research on the property you are interested in, including its location, pricing, and legal requirements. Additionally, it is recommended that you hire a lawyer who is familiar with Thai real estate laws to facilitate the purchase and ensure that all necessary paperwork is completed correctly. By taking these steps, you can make buying a villa or house in Thailand a smooth and enjoyable experience.

Foreigners are not allowed to own land in Thailand, but a possible exception has not been put into practice yet.

Despite the restrictions imposed on foreigners, there are still ways to acquire land in Thailand successfully. One common approach is establishing your own Thai Limited Company, which will act as the land owner on your behalf. Alternatively, you can consider entering into a long-term leasehold agreement with the landowner.

Thai Limited Company

If you are a foreigner looking to purchase a house or land in Thailand, you can set up a Thai company.

In order to comply with the law, the company will have a 51% ownership by Thais and 49% ownership by foreigners. This is called Thai Freehold and means that the Thai company will own the property as an asset, just like a Thai citizen would own it under their own name.

The company ownership is structured in a way so the foreigners have full control of the despite owning the minority (49%) of the shares. This is a common way for foreigners to do business and own property and 100% legal: even multi-billion dollar international business chains are operating this way in Thailand, not only when it comes to property.

The cost of setting up a company in Thailand is approximately 85,000 THB. The yearly cost for a company set up solely to own a property and not do business is around 30,000 THB.

This company can help you establish a legitimate business presence in Thailand and obtain a work permit or visa, which will allow you to stay in the country legally. This means that you can achieve two goals at once. Moreover, owning an asset will also enhance the credibility of your company for future business operations.

Property Lease in Thailand

Non-Thai individuals can own property in Thailand through purchasing a lease in which the leaseholder's name is registered at the land office and written on the back of the chanote. Learn more at our website.