When foreigners want to stay in Thailand for a long time or want to stay after retirement, in addition to visa requirements that must be met, some people may want to buy real estate or may want to own land in Thailand. Currently, foreigners can receive land transfers in Thailand in the following cases:
- Inherited as a statutory heir. The inherited land combined with the land that already exists (if any) must not exceed the amount that would be allowed under the Land Code;
- Foreigners may own no more than 1 rai of land; they must purchase it from the land owner whose name is listed in the document of title. And if there is a transfer of land with buildings, the seller must also have a document showing the ownership of the building;
- Foreigners who want to buy land in Thailand must meet the criteria required by law, i.e., they must invest at least 40 million baht and invest for at least five years. The money must be invested in businesses or activities as required by law, such as investing in Thai government bonds, in real estate funds, etc. And most importantly, they must be foreigners with permission from the Minister of Interior only;
- The land that foreigners will buy must be located in Bangkok, Pattaya City, provincial municipalities, or within the area designated as a residential area according to the law on city planning, and must be outside the military service safe zone;
- The land must be used for the purpose of living only for oneself. If it is found that the conditions are violated, the conditions must be sold back, or if the land is used for other purposes, the foreigner may be required to sell the land back.
Source :ALP CONSULTANTCY Co.,Ltd.
Tel : +66 (0)8825-81790
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