[LesLattis]

if you are very interested in buying property in Thailand, this sounds like a useful book: How to buy land and build a house in Thailand

http://www.buythaibooks.com/customer...tid=191&cat=14

good luck.

[blackjackiisre]

I think what you said earleir:

Quote[/b] ]Also, there is something to do with nationalistic attitude as well. The idea that 'Thai land' belongs only to 'Thai people' is still strong.

...that is the real reason that foreigners cannot own land in Thailand. Agriculture, manufacturing, and other aspects directly effecting the gross domestic product of Thailand can be worked out. In regards to foreigners buying land, any foreseen problems dealing with Economics can be solved. However, the attitude that "Thai land is only for Thai people" is something that cannot be changed over night. It's just how the citizens feel, and so long as they feel that way, I really don't think that the laws will change.

I would agree with a law which would allow a Thai/Non-thai married couple to purchase a limited amount of land in the name of the Non-Thai national for living and business. Of course, there would have to be some form of clause which would state something like "in the event of a divorce prior to having children, the land under a non-thai nationals name must be sold." This would keep foreigners from getting married to, and immediately divorcing a Thai partner in order to purchase Thai land.

[Lhtfajba]

HOW TO...: Buy land in Thailand

The Nation, Published on Nov 15, 2002

Thai property law states that with a few exceptions – like a Board of Investment approval or suitcases full of money deposited in a Thai bank – foreigners are not allowed to own freehold land. They can only lease the land for a maximum of 30 years. But Thai law has many grey areas; in fact, it seems at times it has more grey areas than black and white areas.

In 1999, the government lurched out of the 19th century to amend the property law to allow a Thai spouse (male or female) of a foreigner to buy land.

Unfortunately it only lurched as far as the early 20th century. For the spouse to buy land, proof is required that the money used to purchase the land is legally the Thai partner’s, with no foreign claim to it. Get divorced or separated and the Thai “ex” gets to keep it all. Even if the Thai spouse dies, the foreigner has no claim to the land and there is nothing to stop the relatives from moving in (if they haven’t already) and booting you out.

If you want a house to call your own without the prospect of your spouses’ relatives circling hungrily, this is not a good option.

Most foreigners who “own” land and houses – as opposed to condos, which can be owned outright – go for a leasehold agreement of typically 30 years, with two prepaid 30-year renewals. The lease will include clauses that automatically allow freehold ownership if the laws of foreign ownership change in the future, and the right to sell and/or transfer the property.

This gives you 90 years with strong backup, making it effectively ownership.

Just to complicate things a little, while you can only lease land, all the buildings – either on the land when it was purchased, or improved or built by you after purchasing the land, are yours freehold. Technically this means that once the lease expires, the owner of the land must purchase the building(s) at an independently and legally valued price, or negotiate another lease period. God knows how that can work.

The structure of a lease agreement needs to be watertight. But because this has become the preferred way of holding land in Thailand for foreigners, this type of lease agreement has become more or less a template, with add-ons to suit individual buyer’s needs.

But don’t draw it up yourself. Get the advice of a lawyer versed in such things. And don’t sign anything or hand over any money until you fully understand and are happy with what’s written on the lease agreement.

One thing you need to be aware of is the title status of the land you are purchasing. In much of upcountry Thailand, including favourite places to buy for foreigners like Phuket, Ko Samui, Pattaya and Hua Hin, most land has not been surveyed or has been dubiously titled.

Land is titled depending on its survey status. Make sure of the land title before you buy – often prices vary greatly depending on the type title – or you might find someone else laying claim to your rai after just after you finish building your retirement home.

“Chanott ti din” are title deeds with land accurately surveyed. If you have one, it gives you incontestable possession of the land. The most developed areas of provinces have these titles. But even in farang-friendly Phuket, for example, only 10 per cent of the land is under this title.

As it stands, most “titles” around the country are “Nor Sor Sam” or “Nor Sor Sam Kor”. They are land title deeds in as much as clear records of ownership are maintained, and that they may be sold or leased, but they tend to be less accurately surveyed than Chanott titles.

If purchasing Nor Sor Sam-titled land that lacks clearly defined physical boundaries, ask the owner to stake out the boundaries and then ask neighbouring landowners to confirm his work.

And there are more. Sor Kor Nung, Tor Bor Tor Hoc, and Tor Bor Tor Ha are essentially squatter’s rights registered at the district office for a small fee. Unlike the Chanott and the Nor Sor Sam Kor, they cannot legally be sold, nor can you build on the land if you are stupid enough to buy it. So be a prudent foreigner and ignore the Sor Kors and Tor Bors.

Oh yes, I almost forgot one: the Sor Bor Kor. These are true title deeds, accurately surveyed and pegged (like a Chanott). They can be mortgaged and developed. But the big but is they cannot be leased, sold or transferred.

So, also ignore Sor Bor Kor.

Chanott and the Nor Sor Sam Kor are the only titles over which a registered right of ownership or lease. Stick to them.

Phil Macdonald

The Nation

[UBJ3kvP1]

Quote[/b] (Chai @ Mar. 27 2003,01:53)]It basically states that foreigners investing in the area of 40 million baht in Thailand may be permitted to purchase one rai of residential land in Bangkok.

Oh, so that is what was referred to in the first post when it said:

Quote[/b] ]...with a few exceptions – like a Board of Investment approval or suitcases full of money deposited in a Thai bank – foreigners are not allowed to own freehold land.

That's good to know. Now all I need is to find my piggy bank to get out the spare change!

[Lhtfajba]

I think some foreign people have bought land themselves in the name of their company which they have majority ownership. Previously, by law, Thai nationals had to have majority ownership of a company but that has now changed.

You might find this previous post useful:

How to set up your own business in Thailand

[Tusethede]

D80,

For private limited companies the company needs 7 shareholders at all times. However, they can all be non-Thai.

If you have Adobe Acrobat Reader, then I really think you should read this document from the Ministry of Foreign Affairs in Thailand. It's pretty much up to date. The information regarding the change of the 7/1 format is on page 2.

Furthermore, a short summary of amendments regarding foreigners owning residential land is located on page 52. It basically states that foreigners investing in the area of 40 million baht in Thailand may be permitted to purchase one rai of residential land in Bangkok.

[tooratrack]

Why not have foreigners buy stock to land. I've seen this done on small islands off the east coast of Africa.

A Thai company is set up to buy land. When a foreigner wants to buy land in Thailand, they go to this Thai company. A foreigner gives the Thai company the money to purchase the land, and the Thai company then issues 95% of the stock directly to the foreigner relating to the land which the foreigner wishes to purchase. (Known as "Stock to Title").

1) The foreigner gets to live on the land as long as he wants.
2) If the laws ever change, the foreigner can purchase the remaining 5% stock from the Thai company, and tranfer the title
3) As the land appreciates, so does the stock.
4) If the foreigner ever decides to sell the land, the Thai company simply has to sell it for him, and will give him 95% of cash received (buying back the stock).
5) If the foreigner's thai spouse dies, the family cannot take over simply because the souse does not own the stock, the foreigner does.
6) foreigner must pay all annual property taxes, otherwise, the thai company could force an early sale of the land.
7) The Thai company makes money by receiving 5% of the value of land at the time of sale.

Anyone out there with legal knowledge? Would this work?

[immoceefe]

Hi, i read about this subject and would be interested to have more information, has the law NOW changed ?
Can a foreigner buy land or house in Thailand.
What are the restrictions
it would help if someone share some light on this.
thank you