Can Foreigners Buy Land in Thailand? Honest Advice
Vložit
- čas přidán 17. 11. 2020
- Can Foreigners Buy Land in Thailand? If you have ever thought about buying a villa or Land in Thailand, you may have researched location and prices. But, have you thought about the legal side? Do you know about foreign land ownership in Thailand? With over 20 years of experience in Thailand and in real estate, I share my knowledge about how foreigners can buy land and the
potential pitfalls and hidden costs.
Do you appreciate my free advice? Why not show me a little love by buying me a coffee? www.buymeacoffee.com/ImJoe
Do you want to contact me? Email me at Gerald@REMAX.co.th
LINE ID: Gerald.Enright
Follow me on Facebook: / joeremaxbkk
If you appreciate my free advice, why don't you buy me a coffee sometime.
www.buymeacoffee.com/ImJoe
Reach me by email at Gerald@remax.co.th
Thank you , I’ve been looking at buying a villa in Thailand , you have made my mind up 100% not to buy .
Wise decision, some would have you believe otherwise and say anything to part you from your money, the farang of the species being the more dangerous.
Same here
Thank you for your most informative and insightful video Gerald.
Can’t understand why anyone would buy a place here. You can rent for peanuts, simply move when the place starts deteriorating or neighbours play the fool. The feeling of flexibility & no “hooks” is priceless.
A tip : watch series at flixzone. Me and my gf have been using it for watching loads of movies recently.
@Lawson William Yea, I've been watching on Flixzone} for since november myself :)
The reason people want to buy is because renting is dead money.
I fully agree. I've heard the renting is throwing money away argument before, I've owned and rented properties before and let me say this: when you rent you know it, when you own, the property actually owns you and you don't know it until you're in over your head, which is pretty common when your major property expenses, new roof, new chimney, new garage door, storm damage costs all come around, plus the minimum $100-150 per month of routine fixes that crop up. Realtors would much rather close on a house every day for commissions than get the piddly commissions they get establishing a one year lease, thus all these mantras abound about building equity and real estate always goes up.
Real estate appreciating is not assured despite what everyone says and thus it really only makes sense to buy land and a home on it when you've figured out where you want to live forever and thus having full control of the property is a must. Having to get into complex schemes to virtually own a house in a foreign country is just asking for trouble in my opinion. There's pros and cons to living abroad. Yes you may be forced to rent, but for all the savings and various personal freedoms vs living in the West, it's a sacrifice that's well worth it to many people as you only live once and you will own nothing from the grave.
This is the absolute truth, you're describing the actual reality in Thailand for property foreign ownership. Thank you
Outstanding information. Thank you!
Great bunch of info. Thank you.
Thank U very much Gerald for explaining this complicated issue. I have been in THAILAND dozens of time but couldn't figure out this property issues because of conflicting information . Alyan from Sudan.
Honest and straight forward, thanks.👏🏻
Exactly.. You can’t own the land only the house on the land. Why would anyone do that? Same in Bali…
So realestate wouldn’t end up being corrupt by overseas investors buying up the land and raising the prices and getting locals out of the market.
Excellent advice. Thanks
Thank you for the straight advice! Intuitively sounds better to buy condo, or lease land/house from Thai or just rent!
Buying condos is relatively easy as long as we track the incoming funds.
Thank you Gerald, this is a very helpful advice. I am waiting for new regulations by the government which hopefully will allow foreigners to purchase houses with full legal title. I`ve heard that the Thai government is discussing this issue. It would be great if you keep us informed. Kind regards
I'm keeping an eye on the proposals before the government, I hope to be able to glean some verifiable and substantive information to share in an upcoming Video.
Bravo for this honest interpretation of the Thai law!
Thank you Gerald, this is a very helpful advice..
Glad it was helpful!
Thank you. Great advice/info.
Glad it was helpful!
I lived in Thailand for many years would never buy you will never own.
true.
if you dont have money you can't ofcourse
Avoid the stress! Stick with condo!
Yes, you are right man and never buy landed property, only buy condo is safer for foreigner.👍
Thanks for your advice
Thank you so much for yr advice.
happy to share.
I think most people in the comment section have never been in Thailand and sure never have seen smart foreign investors living for years quietly and in luxury in a 300-400 sqm mountain hill villa with 3 bedrooms, 4 bathrooms, swimming pool, unrealistic sceneries and seaview at the same price of an average house in a western city, let's say 500K usd. I live half of the year in Ko Samui myself and I am planning to buy soon. Most people never had a problem.. depends of the quality lawyer and real estate broker of-course. But people try to cut corners and go for cheap and think they made a bargain, whilst they even haven't seen the real owner or have fake papers... there're always sad but stupid stories of-course. This guy explains very well.
Agreed with your comment. Do your homework and spend some time there before assuming its all bad or in some cases , its all good !
Hi iG, Great comment and I totally agree. I've been to Koh Samui many times and I'm currently planning on moving there (early stages). It would be great to chat with you if you have a way I can contact you?
The rose-tinted glasses fraternity is still alive and kicking, buying landed property in TL is fraught with potential difficulties. But here's the best part which most fail to research; should one decide to sell in the future, which believe me, many do, it is tenfold more difficult and with a minefield of hoops and costs attached.
Thanks for clarifying because I wanted to move there to retire but did not want a condo!!!😊👍
Everything VERY unsure as a falang. Don't be stupid and put yourself in that situation. Rent, and when it's time just leave the keys 🔑 and move forward without headaches.
That's what I have done for years when I lived there and it was the best choice.
The law is quite clear. It is NOT legal to form a company for the purpose of owning land. Secondly a lease is only legal for 30 year max regardless of a contract saying it can be extended.
Thank you so much for sharing this video I’ve got a problem with the LOw in Thailand they don’t like to give anything to foreigners but when they come to my country they get everything so I I disagree I understand we can lease land 30 years But in my country they can on everything even if you foreigners are not
This is a common issue across Asia. I think they do this to prevent foreigners pricing out the locals. If you look at countries that allow foreigners to buy land prices goes up and people are displaced from their homes. Asia does not want a outbreak of homelessness.
Thank you 🙏
I just put in my daughter’s name not like I can take it with me
But if you are thinking about buying and building something with out Thai family I would suggest it’s a horrible idea
I really hope they don’t let foreign people buy land here…all your neighbors will be Chinese
Just saying look at my town in Canada…Vancouver aka Hongcouver
Glad someone can see that. If local Thai make more money than Chinese or Canadian or British I would say yes go ahead. If you enjoy Thailand with this way of life and culture you need to support it.
The other options is getting dual citizenship. Thai offer that now and of course its lot of work but if you really love the country its a good investment. Then you can own the property in your name.
Thank you dear
Thailand talks so much about inviting people to live in the country and increasing the amount people spend which helps the local economy develop. Last month they came with an ill thought of idea of trying to get high net worth to invest in Thailand which was rescinded. My wife and I (wife is not a Thai) were planning to retire in Thailand and we looked at various options for owning property and each one came with their own caveats. We have dogs so an apartment / condo is ruled out. Renting short or long term is possible but because we have 10 dogs we are not shown decent places. These rescue dogs were being moved from Brunei to Thailand and have been with us for a few years.
Staying in a rented house in our twilight years is not exactly what we were looking for. Anyway we don't have the millions of dollars Thailand wants. Thailand's loss is someone's else's gain since we have got enough to buy a 400-600K US$ house cash down and have enough coming to us from our other real estate investments in other global locations.
I am sure there are many like us who love to be in Thailand but like to plant some roots too!
It's all really a red flag. Option one, leasing, is okay but at the end of the day you lose most of your asset. The business option is risky since you don't have full control and have to rely on contracts, company structures and even faith for security. There are too many horror stories where people have problems after leasing land and businesses going under or defrauded. The land of a thousand smiles is also the land of a thousand scams. Rent.
The condominiums are cheap. But it's hard for the foreigners to apply for home loans.
I've initially planned to pay off most of monthly installment from the monthly rental income earned when I rent out the whole unit for decades and I only have to fork out a small amount of sum from my pocket. I will only move in to dwell in the unit a few decades later after my retirement.
UOB although relatively foreigners friendly, to be eligible for the home loan , ones have to be earning an annual income of SGD $100,000, which is impossible for middle-class working adults.
Cheap affordable condominiums but harsh home loans requirements.
Any other home loans available?
Great advice. Looking at purchasing in Samui as airbnb from Australia, how do I find a good representative or lawyer, as there are plenty of scammers out there!?
Leasing or renting for me, thanks for the information.
Cool. But the best way is to lease.
could you explain the Joe Remax introduction, given that you are Gerald Enright ?
best wishes for 2022
Pseudonym. Being in Asia, I deal with a lot of Asians who have difficulty with "Gerald", especially the R's, so I adopted the nickname "Joe" which is much easier to say and remember. "RE/MAX" is the brand I operate my company under. Put it all together "Joe RE/MAX"... Pure marketing genius 🤣.
Thanks.
What about building a house that can be moved from property to property. Maybe a kind of container home.
If a lease won't renew, that's fine, just move the home to another piece of land.
yes, if you own the structure and it's moveable, then you could move it. This should be fairly easily done. Technically you can own the structure (permanent or temporary) independent to the land. Technically you must be granted a right of way to your house. Technically in the case that your house is permanent, they cannot sell your house when they sell the land so it would become an impasse for the courts to resolve. But legal cases can take years to resolve in Thailand and I want to help people avoid finding themselves in that situation, to begin with. :)
Very helpful...thank you. Question : As a US citizen who, under the Treaty of Amity, can own 100% of a Thai company, does this peculiar angle confer any benefit from a real estate purchasing perspective? Thank you again.
You cannot own 100% of any company in Thailand. Only 49% at most
But there is one way to own a house in Thailand and not worry about land deeds..
Clue, the house does not have a land deed
If the uk was like this it would be a lot better place.
Yes absolutely, there wouldn’t be over inflated property on the market and our children would be able to afford a mortgage. If there wasn’t a benefit system for all the world to take advantage of and a controlled immigration system it would be a desirable country . Hence it’s to late for that .
A long shot but I was wondering if you’ve any knowledge on purchasing land in Laos.. I usually travel through Thailand, Laos, Cambodia, Malaysia, Philippines each year through the winter months here in the UK and recon there’s a lot of potential in Laos..
Sorry, no I never have transacted in Laos
There is a good youtuber ( aussie guy) who is living in Laos, He did discuss property and building in Laos, get in touch with him if that helps
Try Lao now vlogger
if i sell the company, is it easy to get the moeny into my own pocket? do the local shareholders have right to claim a share?
This video is very informative. My brainless hubby wanted to invest in land n built his retirement home under his brother's name who is actually a Thai citizen, but I can't trust anything when is not my name.
I don't think your hubby is brainless, otherwise he would not have married a prudent persons such as yourself. Clever lawyers sometimes have ways to safeguard assets held in other people's names. I'm not a lawyer so best to talk to a real lawyer before taking any action. You can ask your lawyer about taking a loan lean against the property that is greater than the value of the property. This scheme is meant to avoid the asset holder from selling the property from under you, in that they would have to repay the loan at more than the property is worth. Another legal tool that is sometimes used is usufruct www.siam-legal.com/realestate/Usufructs.php. However I don't know what would happen in the case of death, bankruptcy, tax liability or legal action against the Asset Holder. My simple take is that it could get messy, those are topics your husband may want to discuss with a knowledgeable property lawyer. Being smart in present will keep you from being poor in the future.
Brainless husband, sounds like he pulls the strings....I thinks its time you moved on honey, I doubt it though 😆
you may want to write a script and use a teleprompter. It will save you an enormous amount of time editing and result in a better VDO + you can use the script as a blogpost /SEO. Let me know if this interests you - and I can help you
Hello. So no one from the US can buy property in Thailand but they can come over to the US and buy anywhere. I see an issue with this!!!
Thank you for the information,
But I guess any person that is going to retire from the United States it's better to rent enjoy the country and when they're done just come back home.
Come from a country with a treaty
I think it also depends how beneficial you're to the Thai economy. If you setup your company correctly and also buy a buisness , Hiring Thai employees + paying frequent tax authorities turn a blind eye since Thai people are benefiting from your ownership / presence in their country. While you're operating like a company should.
If you're filing blank tax returns every month that's a red flag for possible disaster . As it shows you made the company just to bypass the ownership laws .
Some of these comments are a little harsh Joe is giving some free basic advice. There is one thing everyone here seems to have missed. No one in Thailand owns the land under their feet. It is all owned by the king every square meter. Yes Thai people are afforded more rights but we’re all here by invitation. Same goes for Canada yeah that’s right the queen owns everything Justin T Serves on behalf of the queen. And as far as owning land goes in Thailand the Chinese got here first and gentrified the hell out of it. Good luck.
With lands property business and all else guys, I look at the national stats and logic with everything and no matter where in the world one lives, how many men of this world, are with the same woman for 30 yrs to start with? and how many of these have a company or actually own a property other than the mortgage companies etc.. And be honest with yourselves for once, how many guys in this world walk away from a company or partnership or wife without handing over 100% plus more eh!!!! Plus the 30 yr lease option is good, especially if it is making profits while you are still working, if its a business of course, and again honestly, 30 yrs for anyone in any business anywhere never have it so long.. Thailand is a great place if you have a good head and are not foolish.
Do you need any special residence visa to rent a villa longer term 6 mo.> ? or in the same way, if you rent a villa long term (6 mo.>) is one able to secure a longer term resident visa ? can one just take frequent trips outside of Thailand (to malaysia or Vietnam) and reenter shortly thereafter to renew their visa or after a few times of back to back does immigration lock down on it ? What is a good way to get a longer term residence visa ?
There is no specific visa required to rent property for any length of time. But renting does not by any way entitle you to enter or stay in Thailand, that's an immigration issue.
Tourist visas are a maximum of 3 months and may be extended a little (i think like a week or two). Strictly speaking you may not stay more than 180 day per year on tourist visas. While sometimes border immigration may ignore that rule you should be aware that it is enforced.
Other visa options? Retirement visas, smart visa/digital nomad visas, investment visas are now been revived. Lots of information is available online or talk to an immigration lawyer for options.
Hello again thanks for the info, Do you know any seller of the condo or land in Thailand that wanted to exchange land in CA USA, It shall be appraised by the last sold prices, & your commission shall remain the same. Please notify me.
Can you make a video about treaty of amity please 🙏
I was researching that a couple of months ago and indications were that its mothballed. I plan to do a video with my lawyer friend maybe he can shed some light.
Wow! Maybe its honest advice but its a bit lacking in depth and content
All the usual superficial stuff about being able to own a condo and not being allowed to own land but no mention of being allowed to build and own a structure on the land, or the use of usufructs to secure your tenure over any land for the term of your life.
The company requirement is now 61% thai share ownership with the foreigner able to hold 39% but there are ways to adjust this shareholding as well
As a realtor who is operating in Thailand, I would have thought you would have been all over ALL the various options as applicable to the law, and that you would have these verified by a lawyer who is expert in property transactions?
The short answer to everything you discussed is "consult with a good lawyer before entering into any financial arrangement with regards to property or business activity in Thailand"
The bottom line,.. a foreigner cannot hold or have a Freehold land title (Chanote) registered in his name, therefore a foreigner cannot own a house - Period.
What if my sons are Thai national and I am not and I would like to form a company with 51% on my sons and the rest on my name, then I wish to sell the company or a property acquired via the company, is that requiring the sons consent? Or is it up to the company formation contracts with my sons and how the board isarraged? And if so any laws about the company board?
I'm unsure if a minor can be a director of a company. What I have discussed with our attorney is a case whereby the minors are the owners of a property. As their guardian you can liquidate their assets however you must petition the court for permission and demonstrate that said liquidation is in their benefit. Once they reach the age of majority, they can sell the assets without your consent. I've seen schemes where the Thai owners enter a loan agreement whereby the accrued interest will out-value the asset potential gains. Talk to a smart lawyer, I'm sure they will offer more sound advice than I can.
Thanks
Welcome
I made a legal loan to my wife's sister, I then legally leased the land from her, you can then build the house in your name.
Technically you do not own the land but you still own the money.
That's one way to structure it.
Own the money...? that’s providing the loan is repaid. I’ve seen deals like that go south.
Hahaha you own Nothing.... You handed it over! Generous donation go the poor?
@@milvan6829 actually John has structured the ownership quite securely under existing Thai law. He has a solid claim to the house itself and the loan monies. Moreover under the commercial code, even if the property is sold, the lease persists with the new owner, John wouldn't be able to be forced out of his home during any litigation dispute. Again, always consult a reputable lawyer, which I'm pretty sure John did.
Moreover, a 'Lease' in TL is not recognized under TL law and is just a guise word for rental.
Was thinking of buying land for agriculture
It makes sense to establish a company in which to conduct agri-trade and hold the land. This type of actively trading company is easy to justify to the commerce department than one that solely holds a single property. You should investigate the EEC project which had provisions for foreign ownership of land and companies.
www.eeco.or.th/en
Why take all the risk, cost and hassle? Just rent your home town house, villa or whatever in Thailand. Rent is cheap!
If a foreigner buys a condo unit, what are the monthly fees he has to pay? Maintenance fees? Sinking fund?
He has to pay the same thing that Thais pay. There are monthly common fees that maintain common areas and pay maids, security, etc. How much? This is normally charged as a rate per sqm of your unit eg: 50 thb/sqm/month. Sinking funds are normally a one-time fee for the first buyer of a condo from a developer, the sinking fund will vary between projects. If you are buying second-hand, there is no sinking fund.
Don't do it , it isn't worth it .
Thanks for your information. If you just do a real estate company and rent you property that you bought out, you are not broke the law. Or I see here something wrong?
Could you please enlighten us with any knowledge pertaining to buying land Aaron
Resting by the month or year is not illegal. You are ok. The gray area is shorter than 1 month term renting. In the law implies that Daily renting makes you a guest house or. Hotel and subject to the regulations of these businesses. No clear ruling on airbnb has been rendered as far as I know. It's neither explicitly illegal nor is it explicitly legal. Normally the problem arrives with the by-laws of a condominium which may explicitly forbid Daily/Weekly rentals. Best to consult with a real lawyer on this question.
Thank you for your info, I wanted to buy land with a house on it in Thailand, Dou you have to pay at once? Please notify me.
Normally yes.
My friend thought it would be a good investment to buy a couple of residential investment properties in Phuket... he bitterly regrets this now as he just can't sell them.
Like all Asian countries, property and women should only be rented. When you have had enough of either, you can just pack your bag and move on to your next new adventure.
Not everyone shares the same experience in property nor women. I have had excellent experience with both as have several people I know. As they say "A fool and his money are soon parted." Over the years I've seen many fools, think that they are so clever, make poor choices in both property and women. Keep a clear head and heed advice from the ones that have done well not those who have failed.
@@geraldenright9845 It is nice to think that a few beat the system. Well done.
Hello, would it be more difficult to get a mortgage approval if your leasing the land?
Typically it is difficult for foreigners to get any finance whatsoever in Thailand. I would expect that it would be more difficult for leasehold because the value of the asset in depreciating each year that elapses on the lease term.
@@geraldenright9845 Thanks for the reply much appreciated. I have worked in Thailand over 4 years now and I have work permit so maybe that will help with getting finance. I already have credit cards and car loans with a Thai bank.
@@chriscarr5059 We work with several banks. UOB appears to be one of the most "foreigner friendly".
Can i buy a rice farm land in Thailand? what can i do to own a piece of farm land?
Establish a registered company to own and operate the farm. It may be illegal for you to work the farm yourself as agriculture is a prohibited job for foreigners. Talk to a lawyer
Thai love foreigner but living cost each countrie is different. If law allows so that is no way local Thai can complete, Thailand will not remain Thailand as it is. I doubt you it will be first become China2 and then Western.
Could I buy property if I setup a non profit??
Good question. I don't know. If the organization is registered and managed in Thailand, I would speculate "Yes". I would put this question to a qualified lawyer.
There are other ways to own land as a foreigner without having to worry about thai partners having full control
better off just renting then.... that's just saved me alot of potential headache!
I never met anyone who got rich by being a tenant. Better to be a landlord ;). But truth be told I am currently a tenant after selling my townhouse for 2X what I bought it for. I would not say renting and being a real estate investor are mutually exclusive.
@@geraldenright9845 of course its better to be a landlord, I already am.. but I would not invest in property that I did not have a 100% Freehold on and if you cant 100% OWN the land in Thailand as a foreigner then it is a gamble.. also if no permanent residence somewhere then why buy? I know there are options in Thailand but at this stage it is not something I am looking at.. just 6months a yr there max I might as well just rent.. for now!!
My wife is Thai citizen and American how would that work
The fact that she holds dual nationality is not significant. If she can prove that she is a Thai national she should be able to have property in her name.
She buys the land and her name is registered on the deed. You may be required to sign a waiver at the land department to say that you understand that it's her personal property. In the event of a marital breakup, the default position is that she owns the land and is not a part of your communal property. I have heard of some foreigners successfully arguing in court proving that they paid for all or part of the property and gaining a settlement in court. You can inherit the property from her. Technically speaking you must sell inherited property within a year, however rarely is there any enforcement of this requirement.
I wouldn't even want to buy a condo there. You certainly don't feel the welcome mat with the idea that foreigners cannot own land there.
You could buy a condo and then a little flick of the switch in their government and your condo doesn't belong to you in the same way that the land underneath it doesn't.
I think that the government would be suicidal to even consider that as an option.
@@geraldenright9845 I can't say that I have a great amount of familiarity with the Thailand government other than hearing that they are against foreigners owning land there. I will take your word for it that that's how it is.
It’s a minefield but never do it with a girl you can’t trust.
USA PASPORT can own land in Thailand.
I have bought land in Thailand, I just gave the money to my wife as I have no interest in owning anything here.
Except for money? :-)
What's with the Westerners' obsession in owning lands in Asia?
Company has big taxes, also on your death ½ is gone
Can you elaborate. Companies are legal entities which survive the lives of and shareholders. Under current tax laws non-residents can inherit up to 50M THB, tax free. What big taxes are you referring to?
Only 30 year is legal, anything eilse is heresay
Commercial code of Thailand: Section 540. The duration of a hire of immovable property cannot exceed thirty years. If it is made for a longer period, such period shall be reduced to thirty years. The aforesaid period may be renewed, but it must not exceed thirty years from the time of renewal.
In other words 30 years lease with 30 year renewal clause is perfectly legal.
@@geraldenright9845 you are putting the thai law into english, it is thai written thai, and understood by thai courts, this is your translation ,also you do not mension the price of a setond therm of 30 years, who prices that
@@johnquinn52 You are mistaken, it is not my translation nor my interpretation of the law. It is a legal translation and interpretation by all the real estate attorneys I have ever encountered in Thailand as well are real estate developers. here is just one link to a legal firm's website. siam-attorney.com/lease-property-thailand/ here's another library.siam-legal.com/thai-law/civil-and-commercial-code-exchange-section-537-545/, are you suggesting all these lawyers are wrong? Secondly, you ask about who's the price is applied to the second term. The answer is whatever is agreed as the second term price in the original agreement. I have never seen a 30+30 lease written that does not specify the renewal lease rates. I suppose it could be possible that the original lease omits the rental rates of the renewal, but that would be very strange and I don't know who would draft not sign such an open-ended agreement.
@@anthony7091 The law is that one renewal period is binding. Hence if the lease is written to provide you the option to renew, and the landlord is obliged to accept, then that will stand in court. Hence you get 60 years. Some leases offer 30+30+30 years. Obviously, the final 30 years are not binding at the time of signing. However, some people get around this by signing a new lease after the first 30 years, for a "new" 30 years, and a binding renewal of 30 years. Effectively this could go on in perpetuity. But understand that a lease is deemed to be a contract between persons, and if the lessor dies... then the heirs are obliged to honor the lease, but under no obligation to go beyond the effective period nor to offer the same terms.
Disclaimer: I am not a lawyer, nor is this legal advice, I share my understanding of the law for general interest and educational purposes only.
Its just a headache, dont do it. Worst of all is when u put your land under a bar monkey's name. Condo seems the best option.
Honestly, just stay away from buying land in South East Asia. just rent it is as cheap as peanuts and you still live very well. STAY AWAY FROM BUYING LAND - GET THAT IN YOUR HEAD!!!!
I own land with my wife and in companies. The trick is not to be naive thinking you know it all and that it's in any way shape or form like your home country. Laws are very different and NOT fair by western standards. Don't trust just anyone, including girl friends, know-it-all expats, shady lawyers or agents. Gullible investors in land will be chewed up and spat out. Just Google all the bitter stories of enamored foreign men losing it all. That's why I do these videos, to try to help those who are willing to listen.
@@geraldenright9845 land with wife is not an option for me. I do love Asian women but I don’t believe in marriage at all. Laws are different in Asia you are right. Anyway to each his own.
@@sebastianniqvist3144 Renting is good for short term stay because while renting is cheap now it can always change. The landlord could just raise the price out of nowhere. I think if you stay long term in Thailand getting a citizenship should be on the table.
The best advice: don't.
It’s Thai Land….not your land…duh…
You could say that about any nation.
Don't
I "did" and I multiplied my net worth considerably. I think the getting right properties is key. I've also seen many misinformed foreigners lose their shirts. Don't or Do.... it's a personal decision. I'm here to help people navigate the market and come out ahead.
@@geraldenright9845 it's actually illegal and the Thai government is cracking down on the so called loop holes ... Good luck you are going to need it
@Greg Murray you say "it's acyltually illegal" please define "it". It's illegal for foreign ownership of any property which has land in the title deed, true. It's fully legal for a foreigner to lease property, It's fully legal for a foreigner to own a condominium.
Below is section 19 of the condominium act 1972 revised 2008 which clearly provides for foreign ownership.
Section 19 Aliens (foreigners) and juristic persons regarded by law as aliens (foreign) may hold ownership of an apartment if the are the following:
Aliens permitted to have residence in the Kingdom under the Immigration law;
Aliens permitted to enter into the Kingdom under the investment promotion law;
Juristic persons as provided in Section 97 and 98 of the Land Code and registered as juristic persons under Thai law;
Juristic persons which are aliens under the Announcement of the National Executive Council No.281 dated November 24 (current section 4 Foreign Business Act), B.E. 2515 and have obtained promotion certificate under investment promotion law;
Aliens or juristic persons regarded by law as aliens who have brought in foreign currency into the Kingdom or withdraw money from Thai baht account of the person who have residence outside the Kingdom or withdraw money from a foreign currency account.