How to Own Landed Property as a Foreigner in Thailand Using a Thai Company

by Admin on September 4, 2019

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Under Thailand land law, foreigners are barred from owning landed property–meaning “immovable property” such as plots of land or houses.

There is one legal loophole that does permit foreigners to purchase land in Thailand though.

The law states that foreigners are legally permitted to buy a home or land in Thailand if they do so using a Thai limited company, also known as a Thai majority shareholder company.

Thai majority shareholder companies have at least 51% Thai ownership.

Foreigners who buy houses in Thailand either already hold a stake in a Thai majority company or set up a Thai limited company so they can register the property in the company’s name, which serves as a legal Thai entity.

But foreigners who wish to own land or a home through a Thai limited company must meet certain legal requirements.

First, the business must be legitimate and generate regular income.

Second, the company should follow all Thai business laws including paying taxes and filing audits.

Third, it must hold regular board meetings and provide the minutes of those meetings.

Fourth, the Thai shareholders should be legitimate and actually serve the company in some form both present and future. Using shareholders just for the purchase of achieving 51% ownership is illegal.

Read: The Dangers of Purchasing Land Using Thai Nominee Shareholders

And finally, taxes on the presumed market value rental income should be paid by both the company and the person living in the home.

Read the full story here.

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