Real Estate (Thailand)

Unfortunately for farangs wanting to own land in Thailand, the Land Code Act clearly states that only Thais are allowed. Foreigners cannot own land unless there is an exception made and that's like waiting for lighting to strike. Foreign land ownership requires an investment of more than 40 million Baht and Board of Investment (BOI) approval. If land ownership is granted, it is only to that person, not transferable or inheritable and limited to the duration of the business. The one thing a foreigner can own is an apartment or condo, but not more than 49% of the units. When it comes to renting or leasing foreigners have the same rights as Thais. Under Thai law foreigners are allowed to lease property for up to 30 years. Ownership of a house is separate from the land it stands on. Land and house can have different owners, and it’s strongly advised to follow legal procedures for obtaining ownership of a house. Foreigners who are married to Thais will transfer of ownersh...