Purchasing a home in Thailand

Been doing same thing, came to same conclusion, if you married on death property can only go to imeadiate Thai family, anyone feel free to step in..

@Safetypaul1 From what I read, there needs to be a will or a marriage contract to inherit the land.  Even then, you can only own it for one year and then must dispose it.  Without the will, the property is dispersed by statute.

Unfortunately, a will can be changed discreetly within minutes of the last will.  I would choose a more guaranteed method than a will if you want a guarantee of ownership or proceeds.  From experience, when someone dies, people come out of the cracks with their hands out.....

@Paul_Adams

My understanding

During the marriage and  following a divorce you are entitled to 50% of the value of assets. This goes both ways when the proporties have bought during thr marriage.

With a death, no kids, you will get full ownership. Kids makes this. more complicated.

You get one year to sell the land and house, unless you find someone to replace your partner in the usufruct. A transaction needs to take place to get his done

Usufruct is pretty safe. The weak part is your partner passing away.

If you pay for the land at aquisition I suggest you make up a loan agreement with your partner payable at your request.

Technically you then own all property and greedy family members will back off.

But where you live will decide if the year will be enough to sell and clear any issues

Again the above is my understanding. Nothing more

Martinoo...    quote "If you pay for the land at aquisition I suggest you make up a loan agreement with your partner payable at your request."

From my understanding (reading) that when property is purchased, and the Thai national has to be the purchaser,  they have to prove that it is their money and not the farang.  That does not stop me from gifting the money.  I don't know how you make a loan agreement when the govt says it has to be their money.  It seems like that would be easily tossed out in court.  But yes, I would want to make sure that any investment I made was recoverable for any reason in the future and not lost to those that would want to take advantage of the situation.  Good info though.....

@Paul_Adams

It is the other way around, if they have a foreigner purchasing any property they/we need to proof origin of the money used, either earned or imported is tax free

An nobody can stop you from loaning her money for whatever purpose....

In 2023 my wife and daughter paid for the purchase of the land and build of the house we live in now, using my cash.

My wife does not work (although caring for me she says is a full time job plus overtime in weekends) and daughter is to young to amass that kind of cash ...... nobody asked for proof or origin from either one.

Daughter owns everything now....

@Paul_AdamsHello, according to the information I received it is raining, it is possible that a foreigner can buy land of maximum 1600 square meters to build his house, in his name.  I have seen big problems with a 30-year lease, personally, I advise against it, plus everything that is built belongs to the owner of the land.

@raoul11

I see no link supporting your information other then below information.  Can you provide a link??

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THAILAND REAL ESTATE GUIDE TO AREAS AND PROPERTIES

Unlocking the Mystery: Who Can Really Buy Land in Thailand as a Foreigner?

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WISH@PROPERTYSCOUT.CO.TH

Unlocking the Mystery: Who Can Really Buy Land in Thailand as a Foreigner?

Measures that cater to foreigners

How are these measures useful?

Foreign Condo Ownership Transfers in Thailand

Which nationality gained the most ownership transfer? Which provinces were most attractive to foreigners?

Conclusion

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Thailand is a country with a booming real estate market, and many foreigners are looking to invest in property in this beautiful and vibrant nation. However, buying land in Thailand as a foreigner can be a confusing and complicated process, with many restrictions and regulations in place. As a result, it's crucial to understand who is eligible to purchase land and under what conditions. In this blog post, we'll be delving into the mystery of buying land in Thailand as a foreigner and exploring the different types of foreigners who are allowed to own property in this fascinating country. So, if you're considering investing in Thai real estate, read on to find out everything you need to know.

Measures that cater to foreigners

The following are the financial and investment measures which cater to foreigners.

Measures to Attract Foreigners with High Potential: 4 Eligible Groups of Foreigners Allowed to Buy Land in Thailand

This measure seeks to stimulate the economy through income, investment, and employment opportunity generation within the country with emphasis on four targeted groups of foreigners, namely:

Wealthy individuals worldwide.

Foreign Retirees.

Individuals seeking employment in Thailand.

Individuals with specific expertise.

The following are the important factors and conditions for the four groups of highly skilled foreigners seeking Thai real estate investment:

Must be within the Bangkok Metropolitan Area, Mueang Pattaya District, or municipal areas, or located within the areas designated as residential zones according to city planning laws.

The amount of land granted rights shall not exceed 1 rai (1,600 square meters) in accordance with Section 96 of the Land Code. The land must be used for personal residence.

One must have an investment amount of no less than 40 million baht and must maintain the investment for not less than 3 years in a business or enterprise of a certain type, such as purchasing Thai government bonds, investing in real estate investment trusts, infrastructure mutual funds, property investment trusts, etc., established under the law on transactions in the capital market (added by the Ministry of Finance regulation in 2002).

Relevant officials must be notified within 60 days in case of business or enterprise investment withdrawal before the investment term is due,

Law is valid for five years.

Foreigners who have invested and maintained an investment of 40 million THB (1 million euros) in Thailand for 5 years can receive authorization from the Board of Investment to purchase land within the limit of 1 rai (1,600m²) in  their own name, for purely residential use.

@raoul11

Thanks. Good it is known now to everyone but somehow I think it will not be busier at the land office.

It definitely seems tricky navigating land ownership as a foreigner given all the restrictions. @martinoo2002 suggestion of a loan agreement does make some sense as a way to protect your investment, if it can be done above board. Ultimately though, as you said, there's probably no perfectly foolproof method, as greedy family members may try to circumvent things. Might be worth consulting a lawyer familiar with property law there to explore your options further.

@partofthatworld

Yes, you should always consult a lawyer and let them set-up the loan agreement I advised

It is tricky but not illegal, that's a huge difference

Letting your partner own the land, with a usufruct of 30 year helps, but if she passes away before you, you need to have leverage

against the family.....

If you can't arrange or get that, it is a huge risk... selling won't be easy as the next owner will have to pay for the land as well and

the family can ask for an absurd price...

There are foreign villages/moo baan/compounds that allow foreigners to buy the house and have land in free- or lease hold.

These are usually in Bangkok or coastal area's and islands where foreigners are concentrated.

But they will ask 3-4 times the market price for a house....... and reselling is therefore a major pain

    From researching it appears that

A foreigner typically can not own land even when married
You can own the house 100% (just not the land)
It's possible to get a get a 30 year lease on the land


Do I have this correct? 

For those with experience, what kind of advice can you give to protect a major investment and the ability to resell if desired without having your hands tied?  Of course a pre-nup or contract helps but what are the other options and pitfalls?  Thanks for helping!

Please don't say "buy a condo" LOL

Hi Paul, if you are married to a Thai, you can own 1 Rai.

Watch YouTube and listen to Nigel Evans. He's building a new house and he's a good honest man

-@Paul_Adams

@Shed20 hello, you can own infact I have helped my friend who is from UK to build a house on his land in Hua hin. Thailand is all about doing the process accordingly and it involvea a little bit of paper work and money. And your all set.

@Shed20

Incorrect information. Unless you are willing to invest 40 mio thb .

You can own a house but practically never the land it stands on

@roshanksockalingam

Please share how you did this.

Only way this would work would be under leasehold . I live close to Hua Hin and that is how these developments work.

Feel free to correct me if I am wrong