3 Ways Foreigners Can Own Land in Thailand
Foreigners wishing to purchase real estate in Thailand are only permitted to purchase condominiums or condominiums. Although the government has implemented measures to attract foreign purchasing power to stimulate the Thai real estate market, the decision to allow foreigners to purchase houses in Thailand remains subject to numerous factors and no clear conclusions have been reached.
Regarding land ownership, Thai law currently prohibits foreigners from owning land under Section 86 of the Land Code.
However, there are legal exceptions that allow foreigners to own land in Thailand. These can be divided into three ways:
1. Investment under Section 96 bis of the Land Code.
Invest 40 million baht in a business or enterprise as specified by ministerial regulations, such as purchasing Thai government bonds, Bank of Thailand bonds, state enterprise bonds, bonds with the principal or interest guaranteed by the Ministry of Finance, or investing in the shares of a juristic person promoted by the Investment Promotion Act.
Land ownership is limited to no more than 1 rai and must be held for residential purposes only.
Measures for Foreigners Buying Houses and Condos in Thailand
Check out these two measures to attract foreigners to buy houses and condos in Thailand. Check here.
2. Inheritance as a legal heir under Section 93 of the Land Code.
The inherited land, when combined with existing land (or previously owned land), must not exceed the amount permitted under Section 87 of the Land Code. For example:
– For residential use, no more than 1 rai per family.
– For commercial use, no more than 1 rai.
– For industrial use, no more than 10 rai.
– For agricultural use, no more than 10 rai per family.
3. Land transfer through various legal procedures stipulated by the government to promote foreign investment.