At this moment in time, foreigners can achieve property ownership in the following proven and effective ways under Thai law. You cannot own land 100% in your own name.

BUYING PROPERTY / LAND - THAI LIMITED COMPANY

The most popular structure of land purchase for foreign investors is through a Limited Liability Company. In Thailand, a Limited Company is considered a Thai Juristic Entity and can own land and property.

A foreign investor may hold 39% of the company shares at the time of the initial land transfer increasing to 49% when the company owns the land. The foreign investor may then elect to legally become the only director of the company, this ensures that any and all dealings of the company and its assets are within the foreign investors control.

BUYING PROPERTY / LAND - LEASEHOLD AGREEMENTS

Leasehold Agreements are another option for the foreign investor. Leases are usually for a period of 30 years with two further prepaid options for renewal giving a total of 90 years. Clauses allowing freehold ownership are written into the agreement thereby allowing a freehold ownership should Thai law alter to allow foreign ownership of property.

Also included in the agreement are clauses covering the right to sell, sublet or transfer the lease agreement making a leasehold purchase a viable option.

BUYING A CONDOMINIUM

Purchase of a condominium must be 49% or less foreign ownership in any one complex. At the present time the funds for a foreign investment purchase must be paid from a bank outside Thailand.

The procedure is simple. Using a Foreign Transaction Form, funds are transferred into a Thai bank account opened in the name that the condominium is to be registered in, allowing the bank to record all transfers of funds.

At the time of transfer the prospective owner receives a certificate of ownership called a "Chanote" detailing all rights the owner will have to common areas within the condominium complex.

Transfer is not completed until all outstanding debts are paid by the previous owner. This ensures the foreign investor does not become liable to any monies owed prior to ownership transfer as has been the case on mainland Europe.