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                        Buying property in Thailand


Buying property in Thailand for personal use or as an investment is a more complicated process than in many countries. Before proceeding, it would be best to obtain advice from a reputable real estate agent or from a lawyer. This will save you time and avoid frustration.

 

Since 1971, a foreigner (an alien) or a majority-owned foreign company cannot own land or land with buildings in Thailand. Foreigners can own condominiums but more about that later. In May 2001, however, the Amendment Land Code Act came into force and does make an exception. The Act’s relevant points translate as follows:

 

"Aliens wishing to acquire land in Thailand must bring foreign currency into Thailand for certain types of investments in an amount to be specified in ministerial regulations which shall in no event be less than 40 million Baht and obtain permission from the Minister of Interior. Any aliens meeting such requirements may be granted permission to own land in an area not exceeding one (1) rai for residential purposes."

 

* CAN A FOREIGNER LEGALLY OWN A LAND IN THAILAND?
Answer: Normally, a foreigner cannot own a land in Thailand; however, other alternatives exist for a foreigner is allowed to acquire land. For more information, please see “How a foreigner can Acquire Land in Thailand” section.
* THOUGH A FOREIGNER CANNOT HAVE AN OWNERSHIP OF LAND, IS HE/SHE ALLOWED TO OWN ANY STRUCTURE ON SUCH LAND?

 

Answer: Legally, any building is considered as being a part of land over which such building is constructed. However, a building may be considered as a separation part when it is a tenant of land who builds a building under a leasing agreement. Therefore, a foreigner may own any building on his rented land.

If your spouse is Thai, and you are planning to build a house on his/her land, you are recommended to sign a lease agreement with your spouse indicating that you are a tenant. This way, you shall have a joint ownership over such construction, not a land, together with your spouse.
* HOW DO I OBTAIN CONSTRUCTION PERMISSION?
Answer: Construction permissionmay be obtained at the Local Administration organization (Aor Bor Tor), or the Municipal Office, where your land is located. Structure Plans submitted shall be certified by an architect or an engineer. A building must have the specifications indicating in the permission.

 

Land Measurements in Thailand

 

Land in Thailand is measured in talang wah, ngarn and rai.

1 talang wah = 4 square meters

100 talang wah = 1 ngarn or 400 square meters

1 rai = 4 ngarn or 1,600 square meters


In other words:

1 acre = 2.529 rai

1 hectare = 6 rai and 1 ngarn

Property, Real Estate Links

Aguide2thailand Classified

www.siam-legal.com

 

 


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