Buy Land in Thailand; If You Want to Buy Land in Thailand You May Be Disappointed

Many foreigners would just love to buy land in Thailand. This is an attractive country that wins the hearts of many of the visitors that arrive here. Many of these become expats and decide that they want buy property in Thailand. Why wouldn't they? The prices here are so cheap. It is still possible to buy a piece of land here for the same amount of money some people pay for a parking space in the west. While it may be possible for them to own some real estate in Thailand; owning actual land is a not so simple.

If you are a foreigner and you want to buy land in Thailand then you are going to be disappointed; the only way that you can actually do it is by becoming a Thai citizen. This is because Thai law forbids foreigners from owning land. The only exception to this is a foreign owned company which is allowed to buy land in Thailand if approved by the Thai Board of Investment. Otherwise you are going to be out of luck if your aim is to own land in your own name.

Although you can't own the actual land it is still possible to sometimes buy property in Thailand. The Condominium Act (1990) allows foreigners to buy a condominium. There are certain conditions that apply under the Condominium Act; for example these projects can only house 49% foreigners; exceptions being made in Bangkok.

Despite these regulations foreigners do find ways around the rules that mean that they can't buy land in Thailand. Those of us who are married to a Thai national can have land in our partner's name. The problem here is that you will not be able to inherit this land if something happens to your partner. Another possibility is to get a long-term lease on land. A foreigner can lease land for a thirty year period; at the end of this time it will likely be possible to renew the lease. What some cautious foreigners prefer to do is to buy land in Thailand in their partner's name and then lease if from them. Yet another option is to form a company where you own 49% with the rest being Thai owned; you could use this company to buy property in Thailand; although this method seems full of risk if you can't completely trust your business partners.