In Thailand, foreigners are generally prohibited from directly owning land, but can own condominium units and buildings, and can lease land for up to 30 years, with potential renewals.

Here’s a more detailed explanation:

Land Ownership Restrictions:

• Prohibition: The Land Code Act prohibits foreigners from directly owning land in Thailand.

Exceptions:

• Inheritance: Foreigners can inherit land from a Thai national, but must dispose of it within one year if they don’t receive permission from the Minister of Interior to retain it.
• Investment: Foreigners who invest a minimum of 40 million Baht in Thailand can own up to 1 rai (approximately 1,600 square meters) of land for residential purposes, subject to approval by the Ministry of Interior.
• Board of Investment (BOI): Foreigners with BOI investment may have special privileges and exemptions for land ownership.
• Thai Company: A foreigner may own land in Thailand in the name of a Thai company (at least 51% of shares are Thai and 49% are foreign).

• Thai Spouse: A foreigner married to a Thai national can register land under their spouse’s name.

Condominium Ownership:

• Permitted: Foreigners can own condominium units, but foreign ownership in a building cannot exceed 49% of the total saleable square footage.

• Registration: To register ownership, you need a Foreign Exchange Transaction form (FET form), ID cards or passports, and a letter from the seller guaranteeing that the condominium complies with the foreign ownership quota.

 Leasehold:

Permitted: Foreigners can lease land from Thai owners for up to 30 years, with the possibility of renewal for additional 30-year periods.

• Building Ownership: Foreigners can own buildings on leased land, but it’s crucial to agree on what happens to the building when the lease ends.

Other Considerations:

• Foreign Business Act: Forming a Thai company with a Thai majority meets the requirements of the Foreign Business Act.

• Sap-Ing-Sith: Foreigners can acquire a long-term land use right called Sap-Ing-Sith, which can be granted for up to 30 years and can be renewed.

• Due Diligence: Conduct thorough due diligence before purchasing property in Thailand.

• Legal Advice: Seek legal advice from a qualified Thai lawyer to ensure compliance with the law.

• Real Estate Agents: Engage a reputable real estate agent who is familiar with the local market and legal requirements.