Not only retirement or residence purposes, but Thailand is also very alluring for business or investment reasons. Even though Thailand is a great source of natural beauty in the world, real estate acquisition can be tricky here. Complex rules and regulations can get you messed up at times, especially if you are a non-Thai national. Numerous outsiders wishing to purchase or rent land and house in Thailand, are regularly confounded by the paradoxical information and silly claims on the Web. Thai land law has set legal issues for the foreign investors, directing the capacity of them to purchase or get rights to land and property in Thailand.
Is It Possible to Acquire House and Land in Thailand, Despite Being a Foreigner?
As per Thailand’s land law, owning freehold land is prohibited for foreign investors in Thailand. There are likewise different techniques accessible for gaining substantial and legitimate rights to house and land in Thailand that don’t add up to outright proprietorship. You can use this link to buy a land or house in Thailand.
Various methods of getting land rights or obtaining property in Thailand?
- Land Leases: Non-Thai citizens are usually prohibited to own any properties in the country, however, the land law permit foreigners to hold a 100% interest with a land lease. At best, you can have 30 years lease period as per Thailand lease law along wit the chances of renewing the period another 30 years.
- Setting Up a Company: If you set up a company in Thailand with a majority of Thai ownership, then it’s pretty easy for you to purchase land or house in the country. It was easy for foreign nationals to acquire an interest through real estate back then. But now it’s been very strict as the Thailand land Department investigate limited companies and executes companies who don’t have an appropriate interest in the company.
- Investment: Thai land law enables outsiders to purchase and claim a constrained measure of land, dependent on speculation of 40 million baht for 5 back to back years, given that the property is utilized for private purposes.
- Thai Life Partner: Once you marry a Thai, you will be able to buy property or land in the country on your name. Anyway, the wedded couple might be approached to sign assertions at the Land Division to express that the assets utilized are the different properties of the Thai life partner. But, when it comes to divorce, it will be very problematic for you to make any claim on the house or land. However, you can draft a prenuptial agreement in order to diminish the risks.
Is It Possible that Thai Nationals Name Their Properties to a Foreigner?
The straightforward answer would be “NO”. It’s an illegal procedure to act as a nominee for a Thai national on behalf of an outsider to buy properties. However, you can always approach a real estate lawyer to talk about the best options available.
As there are no restrictions on nationality to own houses and lands, you can always set yourself up to invest in real estate in Thailand with the steps mentioned above.