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Owning Property in Thailand
Under the current laws of Thailand, foreign ownership of land is restricted. The Land Code of Thailand generally prohibits the ownership of land by foreigners within the Kingdom; this applies to both individuals and legal entities. However, there are different ownership structures which allow a foreigner to acquire real estate in Thailand.
In the past, foreigners have often established a Thai company to purchase freehold land ownership. This is still a method often used by other project developers. To be considered as a Thai company, at least 51% of the shares needs to be in the hands of Thai people. However, the Thai authorities are currently closely scrutinizing every land transaction involving a company to ensure that the company is truly a legitimate Thai company (Thai shareholders must actually invest money into the Thai company and this could be investigated by the authorities through their income tax returns, etc.)… Read More