One common question that people ask is whether or not it is possible for foreigners to legally own land in the Kingdom of Thailand. Is there any route that foreigners can take to do so? And if so, is it worth it? Let’s take a closer look.
Can foreigners legally own land in Thailand?
So, can foreigners legally own land in Thailand? The short answer is no…at least, not directly. That’s not to say that it is impossible, however (we’ll get to that shortly).
The Thai government recently took a u-turn on a new plan to allow foreign land ownership. They proposed a new plan to rejuvenate the Thai economy by attracting wealthy foreign investors to inject their money into the country, however, the Thai people strongly opposed this proposal and it has since been retracted – for further review.
Does that mean that foreigners are unable to own land entirely?
Here’s how foreigners can legally own land in Thailand
● Thai Limited Company
The only alternate route for foreigners to own land in Thailand is to set up your own business as a Thai Limited Company that will effectively own the land on your behalf. The only difficulty with this is that foreigners can only legally own 49% of a Thai Limited Company and must be in partnership with a Thai national.
While this might sound like an unnecessary risk, there are plenty of legitimate avenues of partnering with Thai nationals, running successful businesses, and owning land via your shared business. It’s all about doing your due-diligence and finding people that you can trust.
● Leasehold Agreement
Another potential route that you can take is by entering a long-term leasehold with the landowner. So, while you will not effectively own the land itself, you can own the property on the land with a leasehold that protects you legally for 30-years (with the potential to renew).
Again, you may find this a little uncomfortable, but so long as you make your payments and do not breach the terms of the agreement, the Thai government will protect your interests for 30-years. All you need to do is apply for a construction permit and then you can build a home of your own – and continue to renew the leasehold as you see fit.
Finally, you can technically own land via marriage. If you marry a Thai national for love and share a healthy relationship, you can buy and own land in their name. Obviously, this is only ever a risk if you are marrying for ‘convenience’, as opposed to marrying for a genuine, loving relationship.
Unless you have found a life partner that you can trust, we do not advise pursuing marriage solely as a means to purchase and own land. The safest legal route is via setting up your own Thai Limited Company – or lease-holding as mentioned above.
As you can see, while you cannot technically own land outright as a foreigner, there are several ways that you can go about it, essentially securing your own home in Thailand for life.
So long as you are a legal resident of Thailand, have solid partnerships with people you trust, and invest in the proper legal representation, you shouldn’t have any problems. You can search land for sale in Nakhon Pathom for some insight into the kind of land available to you.