Yes, a Non-Thai citizen is eligible to own a property in Thailand.
Here are some options for non-Thai citizen buyers in Thailand
- Buying a condo (structures on a plot of land)
- Buying leasehold properties
- Buying through a Thai company
1. Buying a Condo
Buying a condo is the simplest way for non-Thai citizens to own property in Thailand. Non-Thai owners of condos are registered on the Title Deed (Chanote), and they have an advantage from a special type of freehold title AKA. a Condominium Freehold.
A Condominium Freehold Title, explained in simple terms is as follows:
It is the division of a residential building into individual condominium units; with each unit benefiting from a proportional co-ownership of the common areas and co-owner association (I.e. Building Amenities, Land and Juristic Management Office.)
To follow with the Condominium Act B.E 1979 and its amendments, condos need to make sure the following: Only up to 49% of the condo’s registrable area can be sold to foreign buyers (Also known as the “Foreign Quota”), the remaining 51% must be owned by Thai nationals or Thai entities.
In case the Foreign Quota of a condo ran out, non-Thai buyers can only obtain units in the project on a leasehold basis.
2. Leasehold Property
In Thailand the maximum lease on land is 30-years, with a chance to renew it (Total of 90-120 years lease).
A leasehold might not provide ownership, it does offer the leaseholder rights to the use of that property (both investment or residential). Leasehold rights are registered on the title deed and can be a simple way to use your property. One of the benefits of leasehold is the owner can have a wider range of unit choices without being attached to a freehold quota.
3. Buying Property through a Thai Company
It is possible to set-up a Thai company for property accession.
For a company to be classified as a “Thai Entity”, at least 51% of the shareholding needs to be held by Thai nationals.
This ownership structure is broadly used by investors to purchase landed property such as villas with their spouse or foreign developers looking to access developable land plots.