Thailand is one of the most attractive destinations for foreigners looking To invest in real estate, whether for retirement, vacation homes, or business opportunities. With its stunning beaches, vibrant cities, and affordable cost of living, it’s no surprise that many foreigners are interested in buying property here.
However, Thai property laws are strict when it comes to foreign ownership. This guide breaks down the legal aspects, available options, and practical steps for foreigners looking to buy property in Thailand.
Can Foreigners Own Land in Thailand?
The short answer is NO—foreigners cannot own land in Thailand directly under the Land Code Act. Land ownership is restricted to Thai nationals and companies that are at least 51% Thai-owned.
However, there are legal alternatives that allow foreigners to secure property rights, including:
✔ Buying condominiums
✔ Leasing land or houses
✔ Investing through Thai companies
✔ Gaining BOI (Board of Investment) privileges
Let’s explore each option in detail.
1. Buying a Condominium – The Easiest Option
Can Foreigners Buy Condos in Thailand?
Yes! Under the Condominium Act, foreigners can own up to 49% of the total saleable area of a condominium project. This is the most straightforward and legally secure way for foreigners to own property in Thailand.
Legal Requirements for Foreign Condo Ownership:
✅ The money used for the purchase must be transferred from abroad and recorded in a Foreign Exchange Transaction Form (FETF).
✅ The condominium must be in a foreign quota (not exceeding 49% foreign ownership in the building).
✅ The buyer must register the purchase with the Land Office.
Best Places to Buy Condos in Thailand:
📍 Bangkok – High-end condos in areas like Sukhumvit, Silom, and Sathorn.
📍 Phuket – Luxury sea-view condos in Patong, Kata, and Kamala Beach.
📍 Pattaya – Affordable beachfront condos in Jomtien and Wongamat Beach.
📍 Chiang Mai – Tranquil city condos in Nimmanhaemin and Old Town.
💰 Price Range:
- Bangkok: $100,000 – $1,000,000+
- Phuket/Pattaya: $50,000 – $500,000
- Chiang Mai: $30,000 – $300,000
✔ Best for: Foreigners looking for hassle-free ownership with full property rights.
2. Leasing Land or Houses – A Long-Term Solution
Since foreigners cannot own land, a common alternative is to lease it for up to 30 years, with options to renew. This applies to both land and houses.
Key Points About Leasehold Property:
✅ The maximum lease term is 30 years, but it can be renewed for another 30 years.
✅ The lease must be registered with the Land Office if it’s longer than 3 years.
✅ Lease agreements should include a succession clause if you want heirs to inherit the property.
💡 Tip:
- To protect your rights, register the lease agreement officially rather than relying on private contracts.
✔ Best for: Expats and retirees who want a secure long-term stay without full ownership.
3. Buying Property Through a Thai Company
Some foreigners choose to set up a Thai company to purchase land. However, there are strict regulations:
✅ The company must be majority Thai-owned (at least 51% Thai shareholders).
✅ The foreign owner can hold up to 49% of shares.
✅ The company must be legitimate and active, not a “shell company” just for land ownership.
💡 Warning:
- Thai authorities closely monitor foreign-controlled companies to prevent illegal land ownership.
- If the Thai shareholders are “nominees” without real business activity, it could be considered illegal.
✔ Best for: Foreign investors who plan to operate a business in Thailand and want to acquire land legally.
4. Buying Land Under BOI (Board of Investment) Privileges
In rare cases, the Thai government grants foreign land ownership to investors through BOI privileges. This applies to:
✅ Foreigners investing at least 40 million THB (around $1.1 million) in Thailand.
✅ Business owners engaged in BOI-promoted industries (e.g., tech, renewable energy, export-oriented businesses).
✔ Best for: High-net-worth individuals and business owners making significant investments in Thailand.
Legal Steps to Buy Property in Thailand
For Buying a Condo:
1️⃣ Select a condo and ensure it’s within the foreign quota.
2️⃣ Transfer funds from overseas (required for foreign ownership).
3️⃣ Obtain a Foreign Exchange Transaction Form (FETF) from the receiving Thai bank.
4️⃣ Sign the Sales & Purchase Agreement and pay applicable taxes and transfer fees.
5️⃣ Register ownership at the Land Office.
For Leasing Land or Houses:
1️⃣ Sign a lease agreement (ensure a renewal clause is included).
2️⃣ Register the lease at the Land Office if it’s over 3 years.
3️⃣ Pay annual leasehold taxes (if applicable).
For Company Ownership:
1️⃣ Register a Thai company with the Department of Business Development.
2️⃣ Ensure compliance with Thai shareholder requirements.
3️⃣ Purchase land under the company’s name.
4️⃣ Maintain active business operations to avoid legal issues.
Final Thoughts: Should You Buy Property in Thailand?
✔ Buying a condo is the easiest and most secure option for foreigners.
✔ Leasing land is a great solution for long-term residents.
✔ Setting up a company for land ownership is possible but requires careful legal compliance.
✔ BOI investment options are available for high-net-worth individuals.
Thailand offers great opportunities for foreign property buyers, but understanding the legal landscape is crucial. If you’re considering investing, consult a real estate lawyer to ensure a smooth and legal transaction.