How to buy property in Thailand
Let’s talk about Thailand real estate.
Foreigners can buy and own a property in Thailand with some restrictions.
You can buy a condo in your own name, but you can’t do the same with land.
Foreigners can’t own the land in Thailand, so for those who wants to have a house, there are some ways to do it. First, you can arrange the private limited company with foreign share of 49% and 51% of thai’s share. Also, you can rent the land for 30+30+30 years, and you will own everything that is on this land.
The most easiest way to have property in Thailand is to buy a condominium unit in a freehold. Condominiums in Thailand usually have everything you need like swimming pools, health clubs, security and some more nice amenities. The foreigner can own a condo if the foreign share in the condominium is less than 49%. Otherwise, the condo’s management doesn’t sell it to you.
The first steps in buying property in Thailand is to open a local bank account. Still it is possible to do it even with a tourist visa or entrance stamp. You can check Bangkok Bank, Siam Commercial Bank and Kasikorn Bank.
You’ll need to transfer money to your bank account from abroad and the bank get you the paper that your money were legally transfered in order to buy a property. Then you’re almost done! The registration of the property doesn’t take too much time - usually 3-5 days and you’ll get a “chanot”, the property deed paper with your name in thai printed there. So now you are the happy owner of the property in one of the most exciting country in the world with warm climate, friendly people and beautiful sea.