Buying land in Thailand
Thai land law prevents foreigners from owning land, but there are various ways in which foreign nationals can secure land for business use or building a house..
Ownership in a company
A company incorporated in Thailand is of course a Thai "juristic entity" with the lawful right to own land. Not less than 51% of the shares and 51% of shareholders must be Thai, but with specific Articles of Incoporation and weighted-voting rights, a foreign person can have absolute control of the company.
It is absolutely recommended to employ a Thai lawyer to deal with the Department of Business and the Land Department in order to establish such a company and confirm its ownership of land. Thereafter, the services of a Thai accountant are required to fulfill yearly paperwork obligations.
Alternative ways to secure land are
land-leasing and usufruct-contracts, both of which cover one's life-time, or 30 years - whichever is longest.
