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Thailand Property Ownership Facts for Foreigners
Can foreign nationals own land in Thailand?
This article is brought to you by: Luxury Property Phuket
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A) Though, as it is all over the world, there are various means by which to take Title for your Property. For straight purchase of raw, undeveloped, or agriculturally zoned parcels of land, an individual foreigner can own Leasehold Title, registered for up to 90 years, as is common in other parts of the world, mostly for very valuable locations.
B) On the other hand, the land can be fully Owned on Freehold, Fee Simple, Title by setting up a Thai registered corporation. Whomsoever owns the company owns the land as an asset of the Company. As with all the big, luxury hotel chains, such as, for example Holton.
The Hotel Corporation owns the building it has built, outright. It owns the land, undoubtedly, that is purchased by the Thai registered hotel corporation.
For an individual foreign national it is much the same thing. A person sets up a Thai company, has the voting and director control of that corporation. The individual purchases the property on behalf of the company, also under the director’s full control, and it is registered at the government Land Office in the form of Freehold, Fee Simple, Title with the individual director signature acknowledging the registration.
The Property is owned in perpetuity, forever. An individual can either buy existing structures, house, or villa, with the land purchase, or have the option to acquire raw land and build to suit.
The purchase of land (and most often with a house or villa already on the land plot) is the most common category of purchase and marks the most total real estate sales volume per annum. Many purchases are in the form of Leasehold Title for a total of 90 years.
The term is, according to statutes, divided into 30-year increments, renewed in advance. Ninety years is a mighty long time when we look how much our world changes with each passing decade. Also, in many countries, Leasehold title does provide a more beneficial asset in regard to taxation in the home country.
At the same rate, for foreigners, a strong proportion of real estate sales are facilitated through ownership of Thai companies. This is primarily due to, although with a Thai company long term visas and Work Permits are available via the ownership of a Thai company, the benefit and piece of having full ownership of the land Freehold.
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