Buying Land or Leasing Land
As a foreigner you normally cannot buy land in Thailand however you can lease the land. Many who do buy land in Thailand buy the land in the name of their Thai wife. The Land Office will also get you to sign a document stating that you have no claim over the land. Contact a property lawyer in Thailand before you sign any documents and also check the difference in Thai Title Deeds.
If you wish to own land in Thailand, then the process is that you may own one rai of land for the purpose of building a home only on condition that you invest at least 40 million baht in Thailand and receives official permission signed by the Minister of the Interior of Thailand. Most would view this as far too risky for a small track of land. Many opt for the following when building a house in Thailand:
The usufruct is registered against the property and allows you to make use of the land without owning the land or the property itself. This is one option that is available to you outside of a standard lease agreement.
You do not need town the land but can own the house on the land. You would as an example place the land in the name of your Thai wife while you build the structure on the land in your own name. Speak to a property lawyer about this option.
Thailand does not have a 99-year lease agreement like Vietnam. In Thailand the lease agreement must be registered with the land office when the lease is for longer than 3 years to a maximum of 30 years. Speak to a lawyer in Thailand to see what is best going to suit your while in Thailand.
You can view these three options available to you. You can also speak to a property lawyer in Thailand for more information and guidance. There are benefits to each of the 4 property options as mentioned above however there are also shortcomings. As an example there are no 99-year land lease agreements in Thailand but you can lease the land back-to-back. The problems is that the person might not want to lease the land to you again after the first 30 years or 60 years for that matter which means you can’t build or invest long term on the land.
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