Foreigners can not own land in their own name in Thailand. Foreigners, by consulting with a Thai lawyer, can form a company which can own land and property. The company issues shares, of which the foreigner owns 49% – and the foreigner is designated as the Director of the company.
Condo Purchasing in Thailand
The only restrictions on purchasing a condominium are that the percentage of units sold to foreigners cannot exceed forty nine percent (49%) of the total number of units in the condominium block; and that the funds used to buy the condominium have been remitted from abroad and correctly recorded as such by a Thai Bank on a Tor Tor Sam.
At LBG we are able to assist in land title searches and ensure your property has the correct title deed and also to conduct due diligence on property developers or background checks on the people you are buying from. If you are considering buying land in Thailand then speak to us about the complex process involved.
Please Contact Us for more information on our Thailand Property Services.