Real estate and real property in Thailand are good investment prospects for foreigners either for business or retirement purposes. However, Thailand’s Land Law is quite restrictive when it comes to property ownership by foreign nationals. Interestingly, Thai Land Laws have certain exceptions to the prohibitive provisions on land or property ownership of aliens (foreigners) in Thailand.
Generally, foreigners are not allowed to own freehold land in Thailand. Holding an investment in Thailand entitles the foreigner to a right to acquire land or property under the following conditions:
A foreign investor with 40 million Baht or more may apply for land acquisition of not more than one rai in area, purely for residential purpose. Section 96 of the Thai Land Code provides that the application for land ownership shall conform to the rules, procedures and conditions as prescribed in the Ministerial Regulation, to wit:
Alien Identification Card issued by the Police Station in the domicile of the foreign national; or a certificate of residence issued by the Immigration Division, National Bureau of the Royal Thai Police Force, or Evida passport indicating the foreigner’s nationality.
Any foreign national granted permission to property ownership shall:
A foreigner who is granted approval for property investment and who withdraws his investment in business or activity shall notify in writing the competent official within 60 days from the date of making the withdrawal.
Violation of the rules and conditions will prompt the Director General to order the foreigner to dispose the land within not less than 180 days and not more than one year.
All foreign language document required in such transactions shall be translated into Thai language by certified and accredited language translators.
Aside from Investment, other ways to acquire property in Thailand include:
If you are an alien and need some legal help, click on this link to know more.