Can a non citizen own property in Thailand?

Can Non-Citizens Own Property in Thailand?

Thailand’s Land Code strictly limits land ownership to its citizens. Foreigners are legally prohibited from directly acquiring land or houses in the country. However, there are alternative ways for non-citizens to invest in Thai real estate.

Condominium Ownership

The Condominium Act provides a loophole for foreigners to indirectly own property in Thailand. Under this act, non-citizens are permitted to purchase condominium units. Condominiums are multi-unit residential buildings with shared ownership of common areas.

Foreigners can legally acquire up to 49% of a condominium’s total unit space. This allows them to own individual units within the building while the Thai developer retains a majority interest in the overall property.

Land Leasehold

Another option for foreigners is to lease land for up to 30 years with a renewable option. This leasehold right grants non-citizens the exclusive use and enjoyment of the land for a specified period. However, the land itself remains in the possession of the Thai landowner.

Non-Citizen Companies

Non-citizens can establish a Thai company and use it to acquire land. However, the company must be majority-owned by Thai nationals. This company can then own land in its own name, but it is important to note that the company itself is the legal owner, not the individual non-citizen investors.

Additional Restrictions

It’s important to note that there are additional restrictions on foreign ownership of property in Thailand. For example:

• Non-citizens cannot own land in certain designated areas, such as national parks and military bases.
• Foreigners may be required to pay additional taxes or fees when purchasing property in Thailand.
• The Thai government reserves the right to expropriate land from foreigners under certain circumstances.

Conclusion

While non-citizens cannot directly own land in Thailand, they can indirectly acquire property through condominium ownership, land leasehold, or non-citizen companies. These options provide viable alternatives for foreigners seeking to invest in Thai real estate. It is essential to carefully consider the legal framework and potential restrictions before making any significant property investments in Thailand.

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