Foreigners can own property in Thailand, but with restrictions: they can own buildings and structures (like houses or villas) but not the land itself, typically through long-term leases or by owning a condominium unit. 

Here’s a more detailed breakdown:

Land Ownership:

• Prohibited for Foreigners:Under Thai law, foreigners cannot directly own land in Thailand. 
• Leasehold Arrangements:A common workaround is to lease the land for a maximum of 30 years, with the possibility of renewal. 
• Thai Company Ownership:Another option is to establish a Thai company with majority Thai ownership, which can then purchase the land. 

Structures and Buildings:

• Foreign Ownership Allowed:

Foreigners can own buildings and structures, such as houses, villas, or apartments, even if they don’t own the land. 

• Condominium Ownership:

Foreigners can own freehold condominium units, but with a foreign ownership quota of 49% of the total saleable area of each condominium project. 

• Leasehold Condominiums:

If the foreign freehold ownership quota is reached, foreigners can still buy a unit under leasehold status, with no limitation on foreign ownership. 

• Building Permits:

To build a house on leased land, foreigners need to obtain a construction permit in their name. 

Key Considerations:

• Legal Advice:

Due to the complexities of Thai property law, it’s highly recommended to seek legal advice from a qualified lawyer specializing in Thai real estate. 

• Title Deed Search:

Before purchasing any property, it’s crucial to conduct a title deed search to ensure there are no outstanding liens or issues with the property. 

• Foreign Business Act (FBA):

Foreign companies can only own land for specific purposes, such as promoting investment or tourism, as authorized by the Board of Investment (BOI). 

• Tax Implications:

Foreign investors in Thai property pay the same tax rates as Thai citizens.