Property Ownership

There are three different types of Foreign Property Ownership in Thailand.

The first one is called Foreign Freehold. This is almost always a unit in an apartment complex that has the Condominium License.

There are some strict laws and rules to be followed by the developer to get the license and the consumer is very well protected. When a development has a valid condominium license, it is possible for foreigners to own a unit freehold in their own name. Another way to buy or own property in Thailand is on leasehold (if the seller offers that option).

You then purchase a registered lease of 30 years with two options of renewal of another 30 years each (total making 90 years). After that period of 90 years the property returns to the original owner or his/her legal heirs. It is very common these days for developers to hand over the shares of the development company to each individual buyer after the completion of the project and when all units are sold.

This way, all owners together are in control of their own leases and the lease becomes perpetual. The third and last way to purchase a property is to set up a Thai Limited Company and purchase the property in freehold through that company of which you will be shareholder and director. Such a company consists of a minimum of 3 shareholders. At least 2 of them MUST be Thai, 1 of them CAN be a foreigner. The way the company is set up, the foreign shareholder and director is in control of the company.