Thailand is a big hitter in the tourism industry, more than 30 million people entered the Royal Kingdom of Thailand in 2024, making the Land of Smiles one of the most visited nations on the planet. If you are interested in acquiring property in Thailand, you have come to the right place, as we take a deep dive into this topic.
Foreign ownership of land in Thailand
There are laws in place to prevent foreign nationals from owning land; laws put in place in the early 20th century to stop Japanese investors from buying up Bangkok. There are a few exceptions; if you are prepared to invest 40 million Thai baht, you are permitted to own 1 Rai of land for residential purposes. There are options, which we examine in this short article.
Finding the right property
If, for example, you are looking for a ทาวน์โฮมสุวรรณภูมิ (townhome in Suvarnabhumi), there are developments with properties that are ready to occupy. You can start looking at Thai real estate agencies, where you will find a wide range of properties from pool villas to 3-storey townhouses and everything in between.
Set up a limited company
At least 51% of company shares must be held by a Thai or Thais, while a foreigner can hold the remaining 49%; many years ago, foreigners would use a Thai proxy, yet this practice is no longer feasible, besides, if the Thai government found that the company was set up solely for the purpose of land acquisition, they can confiscate the assets. The company must be a trading entity that pays tax and is active. If you are planning to do business in Thailand, forming a Thai company is a good idea, the business entity would own the property and all is well.
Condominium ownership
According to Thai law, foreigners can own condo units, provided that total foreign ownership does not exceed 49%. If you are interested in buying a condo unit. We recommend consulting an English-speaking Thai lawyer who is experienced with foreign real estate purchases, the legal professional can ensure that all is as it should be, plus they can help you with government paperwork. Click here for essential aspects of real estate purchase to consider.
Regardless of the type of property you plan to buy, you should always consult with a legal professional to ensure that everything is as it should be. The lawyer can advise you on any aspect of real estate ownership and you should not sign any contract/lease until the lawyer has read the documents.
The Internet hosts a wealth of websites that post real estate listings, which allows you to view a wide range of properties in all regions of Thailand. Once you find your dream home, the real estate agent can help you with the paperwork and guide you through the entire purchase process.