Q&A If a foreigner wants to have assets in Thailand, what to do?

If foreigners want to have property in Thailand, do you know what to do?

Most foreigners prefer to enter Thailand for work, investment, or have a Thai family, or a permanent resident. Have you ever wondered what if they stay long-term in Thailand and want to buy or invest in property either real estate or assets in Thailand, what to do? Wonderful Package would like to recommend good information to everyone.

If want to buy land in Thailand, what to do?

Normally, foreigners cannot own land in Thailand directly whether it is private land, any company, or partner. However, there are exceptions if a foreigner wants to have the right to own land, that person must have shares in a company with a Thai person holding shares and that company must legally register a Company Certificate. Most of the companies or shareholders will have Thai people holding share about 51% or holding a major share of the company and foreigners can only hold shares 49% of the company's shares.

Are foreigners own real estate, aren't they??

Even if a foreigner cannot own land but they are able to own a building, house or condo.

If a foreigner wants to buy land to build a house, there are two options:

1.  Establish a company which has a Thai stockholder
2.  Rent in a long-term contract which has the right to renew the contract

Establishing a joint venture company to have the right to buy land and real estate.
The first thing foreigners have to do is creating a joint shareholder company with a most of Thai shareholders. The company establishment must done by a lawyer to legal and prevent disadvantage of foreigners. When is form a company, a foreigner has the right to buy monopoly land through the incorporated company including the name of the land owner is the name of that company, it cannot be used as a person name.

Why did foreigners have to set up a company to own land?

Owning a private home or land through a company incorporated as a shareholder and partner is almost Thai people who appointed by lawyers which is a popular nationalistic way because it has many exceptions of the law when using a company name even if the rules are different in Thailand. In general, the company must have a most of Thai shareholders but most of the capital are belong to foreigners according to the law.

If foreigners have a marriage certificate with Thai people, are they have the right to own land??

Thai Law about marriage with foreigners state that foreigners have the right to own land only if it a shared land. For this reason, foreigners have owned the land easily and foreign spouses must sign the documents that they do not have any ownership rights whether a land, house, or real estate in Thailand. However, there are also many laws that are beneficial to foreign spouses.

Condominiums in Thai Law

Condominiums are defined as buildings that can be sold separately to a legitimate individual or group with 51% Thai ownership and 49% foreigners.

Principles for buying condominiums of foreigners

When a foreigner wants to buy a condominium, they must bring evidence of transferring money from abroad to a bank in Thailand use the "Foreign Exchange Transaction Form"  (TT3 or Thor.Tor.3) which is a document issued by a bank in Thailand.

Thor.Tor.3 is the "Foreign Exchange Transaction Form" and the form will indicate what the said amount is used for such as use it to buy a condominium, or you can use a certificate of deposit for foreign transactions.

Do foreigners need a lawyer to purchase a condominium??

They have to hire a lawyer to verify the authenticity of the documents and work with the real estate sales firm and for peace of mind.

Related Articles

• What to do if "Foreign investors" would like to request a residence permit in Thailand?

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• globalpropertythailand

如果外国人想在泰国拥有财产，该怎么办？

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