Rimtalay Building Developments - Modern Thai Villas and Luxury Housing on Prime Seaside Land in Pattaya Beach Resort Thailand

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Land Ownership
 
     
  One of the most frequently asked questions we receive is "Can a Foreign National own land outright?" The answer is No. But there are legal ways, within the Thai company structure, that will allow a foreigner to exercise sole control over the Thai company and their investment.

Depending on your individual circumstances, the most common way is to set up a Thai company with the specific purpose of owning the property.

There are also other ways to purchase property which are used by expatriate buyers.

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Thai Nominee
This is the easiest method of house purchase, all you need to complete this form of house purchase is money and a Thai national who is willing to own a property that you the buyer have paid for. The nominee is usually a Thai wife or partner and can be risky if the relationship fails at some time in the future.

Lease with option to buy
This is probably the safest way to buy a house and land in Thailand. You still require a Thai Nominee but the deal is made safe for the buyer by having a 30+30+30 year lease registered on the land. There is a tax payable on the lease income however this is minimal. The lease is a legally binding document registered at the lands office. The initial term of the lease as well as the extension periods are declared as paid in advance and incorporated into the agreement is an option allowing the Lessee (buyer) to purchase the land outright should the law change and permit foreigners to own land in Thailand. This is the closest you can get to freehold property ownership in Thailand.

A Nominee with Mortgage
This is a very safe method of house and land purchase. Once again you will need a Thai Nominee in order to affect a property purchase in this manner. Instead of a lease agreement, this purchase method relies upon a mortgage to secure the buyers investment. The way this works is, the buyer has a Thai Nominee to buy the property then the property is registered as mortgaged at the lands office. Once again there is a tax applicable to this, it is however minimal. The property cannot be sold until the mortgage lender signs the title documents declaring the mortgage cleared. This once again gives 100% control over the property although not ownership. The buyer may remove the nominee should any problems arise and transfer in a new nominee at any time.

Via a Thai Registered Company
This is probably the most popular method of property ownership. To own property through a company you need 7 (seven) partners (shareholders) including yourself. Each of the six Thai shareholders have a portion of the 61% that must be owned prior to the house purchase (this is reduced to 51% after the house is purchased). There is only one director (the buyer) who is also sole signatory for the company. The buyer will also have to obtain documentation through the lawyer who forms the company giving the buyer 100% control of the company. Being a company, there will be a tax obligation, as there would be in any country, however the costs here are minimal and your lawyer will have an accounting department able to assist you with the above.
 

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