Real Estate – Can A Foreigner Own A Property In Thailand?

The very best answer I can give is “it depends”. Thai land laws are a bit confusing and you should consult and English speaking lawyer in Thailand just before any property transactions.

Retirement in Thailand is the dream of numerous foreigners and mine too. I plan to settle down there in about two years and have been checking out the rules for acquiring property within the land of smiles.

The easiest solution for a foreigner (farang) would be to get a condominium. There’s a percentage requirement as to the total number of farang and Thais within the condo complex.

Foreign land ownership is forbidden in Thailand. So, the very best that a farang can do would be to lease the land and own the house. The lease is excellent for 30 years and beyond which is anyone’s guess. Some web internet sites say you are able to get an extra 30 years along with other sites say that there’s no guarantee.

Another option is to incorporate your self as some sort of business and lease the property back to your self as an individual. This is inside the gray area of Thai law and one that I wouldn’t use. I have buddies that have done this and so far it really is Ok but I worry about the future.

Lastly is something known as a usufruct. Googling this will possibly give you much more details and a greater explanation than I can supply. All I know is that’s the option that a lawyer recommended to me and I will pursue further on my next trip to Thailand. He claims it’s comparable to a lease but has some much better benefits. He will have to convince me.

Regardless, it’ll be the lease or the usufruct. Either one should allow me to have a location in Thailand until the day I die or whatever occurs to the property after that I really don’t care about.

There is one final answer that I extremely Don’t recommend. You are able to location the property within your Thai wife or girlfriend’s name. She will then own the property outright. There is a minor technicality that she has to prove that she provided all of the funds for the real estate – but that’s an effortless lie to cover. The issue with this solution is that since she is the owner, she can do whatever she wants with the property. You could take a two week vacation and come back and find that your home has been sold and your honey is gone. This is absolutely not advised.

Check together with your lawyer and discover the method to purchase/lease property for your retirement. While you’ve your lawyer’s ear, check on pre-nuptial agreements and an enforceable will. Do not conduct any transaction of this nature without the advice of a lawyer.

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