Chinese investors are major players in the Thai property market, attracted by the climate, low cost of living, the Long-Term Resident (LTR) Visa, and 2024’s visa-free travel policy.
Key Restriction: Foreigners cannot directly own land in Thailand. They can legally own the building or unit itself via three main methods: 1. Condominium Freehold Ownership: - The most straightforward option. Foreigners can own condo units outright. - Quota Limit: Foreign ownership in any condominium cannot exceed 49% of the saleable area (the "Foreign Quota"). - Financial Rule: Funds for the purchase must be transferred from overseas in foreign currency.
2.** Leasehold Ownership**: - A common way to acquire houses, villas, or land control. - Foreigners can lease property for up to 30 years, with potential renewal options allowing for up to 90 years in total. This provides long-term security.
- Property via a Thai Company:
- Allows a Thai Limited Company to own land. The foreign investor holds shares. - Strict Rule: Over 50% of the company’s shares must be held by Thai nationals, and the company must comply with all corporate regulations. This structure is complex and requires legal expertise.
Important Reminders: - Always confirm the unit is within the foreign ownership quota before purchase. - You own the unit/building, not the land beneath it. - Have all purchase contracts reviewed by a qualified Thai lawyer.
