1. Can a foreigner own land in Thailand?

As a general rule, foreigners are barred from owning real property. This limitation is subject to certain exceptions such as Condominium units and BOI permitted purchases.

2. What properties, if any, may foreigners own in the country?

Due to the recent amendments introduced in the Condominium Act, foreigners may now fully own individual condominium units subject to the condition that the floor space in a particular condominium project owned by foreigners would not exceed 49% of the building’s total floor space. In case of an excess a lease agreement may be entered into.

3. May foreigners enter into lease agreements?

Yes, foreigners may enter into lease agreements as these contracts are not prohibited. Note that Thai law places a limit on the total number of years a lease period may exist to thirty (30) years. Also, contrary to popular belief, these agreements are not extendable as renewal is entirely voluntary on the part of the lessor.

4. May foreign corporations own land?

As a rule, the same prohibitions that apply to foreign individuals also apply to corporate entities. However, the Thai Board of Investments may grant an exception for companies engaged in promoted businesses. In such cases, these companies are allowed to temporarily acquire land for a limited purpose.

5. May my Thai spouse own property in my stead?

As a rule, your Thai spouse may own and register real property subject to these requirements: First the money used for purchasing the land must have originated entirely from her personal property. The foreigner spouse may not loan his or her Thai spouse the money as this will amount to a circumvention of the law prohibiting foreigners from having an interest in real estate. Second, both of the spouses must accomplish a declaration in the Land Office before a competent officer stating that the land involved belongs entirely to the Thai spouse.

6. How can a foreigner obtain a loan to purchase property in Thailand?

Local banks and financial institutions may from time to time provide loan services in favour of foreigners who desire to purchase real property in the country. Note should be taken that the maximum amount furnished to foreigners amount to seventy percent (70%) of the land sought to be purchased.

7. Is there a deed system in Thailand?

Yes. Thailand has more than one kind of title deed showing the various degrees of ownership and possession. The most common titles and deeds used in the country are: Chanote or Title Deed, Nor Sor 3 Kor or Confirmed Certificate of Use, Nor Sor 3 or Certificate of Possession, Sor Kor 1 or Certificate of Possession. The most favoured document is the Chanote as this indicates full ownership while the least secure form is the Sor Kor 1 as this document acknowledges mere possession.