Thailand has very specific laws regarding land ownership by foreigners, laws that were put in place in the 1930s, when the Thai government were concerned that Japanese business tycoons would buy up Bangkok. This means that a foreigner is not permitted to own land, yet of you would like to relocate to sunny Thailand, all is not lost, as you are able to purchase a condo unit, providing the development is owned mainly by Thai people.
Condominium Developments
There are premier condominium developments in Bangkok and the coastal towns such as Hua Hin, Phuket and Pattaya, and if you would like to acquire a condo unit in a luxury development, look no further than Tait 12 (known as เทตต์ 12 in Thai ), a stylish and elegant development with all the amenities you would expect to find in a premier condo development.
Renting
As you would expect, the condo and apartment rentals sector is very busy, with condo owners looking for long and short-term tenants, plus there are many developments to choose from. Many expats who work online decide to set up home in Bangkok, and prior to buying a condo unit, they rent for a year, to be sure that Thailand is the right place for them.
House Ownership
While a foreigner cannot own land in Thailand, it is possible to lease a plot of land for 30 years, with a further 30-year option if desired, and then you can build your home, knowing that the property is secure, and even though you do not own the land, you are legally the owner of the property that sits on the land. If you do not wish to live in a condo or apartment, this would be the best solution, as it legally entitles you to live on the land for at least 30 years, and longer should you wish.
Limited Company Formation
If you set up a Thai company with a Thai or Thais owning at least 51% of the company, then the registered company can acquire land in the name of the company. This is only recommended if the company in question will be trading, and should the Thai government decide that the company is a front for foreign land ownership, they could confiscate the land.
It is not advisable to set up a limited company with the sole intention of acquiring land, as this is illegal and you could have the land and property confiscated and might even have to serve a prison sentence.
