When planning to purchase property in Thailand, it’s important to know that Thai law does not permit foreigners to own land in their name.
However, a growing number of international clients are choosing to invest in property or purchase vacation homes in Thailand.
There are two popular and legally accepted options for foreigners to hold property in Thailand:
This is a straightforward and relatively simple way for foreigners to use the land where their dream property is located. For leases longer than three years, registration with the local land office is required for validity. Lease details are recorded on the land ownership document, known as a Chanote, and applicable administrative fees are paid. The lease remains valid even if the property changes ownership.
Typically, lease agreements provide foreign tenants with a right of first refusal if the land ownership changes in the future. Lease agreements also allow tenants to sublease, sell, or transfer their rights. Many buyers plan to use the property for 20-30 years, with the intention to sell or transfer it later at a higher value. Leases often include automatic renewal clauses for two additional 30-year terms, potentially extending up to 90 years. However, under Thai law, the maximum registered lease period is limited to 30 years.
fast and straightforward process
no transfer tax
no requirement to maintain company accounts in Thailand
no annual tax filings
you do not own the land; you are leasing it
harder to find a new buyer/tenant if you wish to sell
lower resale value compared to direct ownership
mortgages or loans are not available
This form of ownership is popular among foreign investors, as it provides greater security for foreign buyers. Although Thai laws and regulations may change, this form allows foreigners more control. Thai law requires that at least 51% of the company’s shares are owned by Thai nationals or entities. By structuring the company correctly and drafting specific bylaws, the foreigner can retain effective control over the company and its investment decisions.
Using a dual-share structure with founder and preferred shares (each with different voting rights), and appointing the foreigner as the sole director who signs all documents, gives the minority shareholder effective control of the company.
direct ownership of the property
easier to sell the property and transfer company shares
vyššiahigher resale value compared to a lease
option to obtain a mortgage or loan
costs associated with company formation
transfer tax payment required
requirement to maintain company accounts
annual tax filings required
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