Land in Thailand is measured in Rai, and one Rai is equivalent to four-hundred Talang Wah. One Talang Wah is equivalent to four square meters on land.
Thai Property Laws prohibit foreigners from buying and owning land in their country. However, there are legal ways you can take advantage of to buy property in Thailand as a property.
The following article will guide you on buying property in Thailand as a foreigner.
Marry a Thai National
If you are married to a Thai national and want to protect your investment, you could either get a superficies or a usufruct to build and own a house in Thailand legally. However, you cannot own the land on which the house rests.
Opting for this method gives you a lifetime ownership of your property, even when you separate from your spouse. In addition, superficies can be transferred and inherited by third parties.
Opt for the Thirty-Year Leasehold
In Thailand, a foreigner can lease a piece of land for a limited period. The upper limit for a lease in Thailand is thirty years, after which you can try to negotiate an additional thirty years.
In some instances, people have pre-signed a contract that guarantees an additional thirty years after their lease expires. We are sorry to burst your bubble. Those contracts are not enforceable by Thai law.
Register your Land Under a Close Thai Friend
If you have a trusted Thai national who you know will not cheat you out of your money and have you kicked out of your land, by all means, go for it! This option is straightforward and requires no paperwork on your side. If you decide to register your land under a close Thai national.
Form a Limited Company
A Thai Limited Company is another clever loophole foreigners use to own property in Thailand. However, the law states that a minimum of three shareholders is required and that a foreigner cannot own more than 49% of the total shares. It is legal for the other shareholders to sign over their company rights to you, which is usually the case.
This method is convenient for individuals who already intend to open a Thai company and allows you to retain control of the property as long as you own the company. Once you have it done, check out houses for sale in Pattaya city and see what tickles your fancy. You will find a variety to pick from in the growing market.
Own a Freehold Condominium in Thailand
As a foreigner, you cannot own a freehold of the land. However, you are not restricted from owning a freehold condominium in Thailand because you technically do not own any land.
Owning a freehold means you are not restricted to the amount of time you should have the condo. Unlike the options stated above, you do not need any Thai nationals to help you register.
You are also allowed to pass it on to anyone you like, provided they are a Thai national. The title deed to the condo will be registered in your name in the land office, and you are good to go!
Final Thoughts on Moving To Thailand
It is worth noting that each of the methods we have discussed above has its pros and cons. Assess your budget and your current situation to determine which method will be best for you to acquire land in Thailand.