What are the conditions for foreigners to own property in Thailand?
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You are able to Buy a Condominium in a registered
complex where only 49% of the complex is
owned by foreigners (51% of the Condominiums must be
owned by Thai people).
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You are able to Buy and Own a House in your name.
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You can not own Land as a Foreigner.
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You can have a long term lease of Land and / or Buildings up
to a maximum of 90 years with the right of first Buyer in
case of changes in Thai Law.
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You can start a Thai Company that can Own Property
(Land and Buildings) although the Thai Law recently
changed and is far stricter in starting or take over a
Company. A Thai Company has 51% of the shares for 4
Thai people and 49% of the shares to 3 Foreigners. (1
million BHT company)
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You can Buy and Fully Own 1 Rai of Land (1600 Square Meters) once you invested 40 million Baht in Thailand.
The “Title Deed” is the single piece of evidence that an individual legally owners property that he / she wants to sell or buy or lease. Title Deeds will only be given for property that has been checked by the government.
“Chanotte ti din” are Title Deeds given for specially registered pieces of Land who are carefully checked and described as being a property. Only 10% of the Land has this type of Title.
Most Title Deeds are named “Nor Sor Sam” or “Nor Sam Kor”. Title Deeds with these names are registered with the name of the owner and owners from history. These are the Title Deeds of interest for foreigners because these can be sold, bought or leased by foreigners. “Nor Sor Sam” and “Nor Sam Kor” are Title Deeds which can be registered in your name for owning or leasing property.
Following Title Deeds are of no interest to foreigners:
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Sor Bor Kor” is as “Chanott ti din” and is
property carefully described but this Title Deed can
not be transferred (sold / leased) from one to another
person.
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Sor Kor Nung / Tor Bor Hoc and Tor Bor Tor Ha are
Title Deeds which can not be transferred to others and
no construction of any kind is permitted.
As stated before, all official documents will be in
Thai Language and it is therefore that we strongly
recommend to see a Thai Lawyer completely familiar with
this type of business and being fluent in Thai and
English. Chiang Mai Lanna House can recommend an Experienced / Professional Lawyer for your use.
Please ask your Friendly, Knowlegeable, Professional
Chiang Mai Lanna House Realtor if you have any Questions.
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