gobbledonk Posted July 5, 2004 Report Share Posted July 5, 2004 Hi All, I've seen posts which say that foreigners *cannot* own land and businesses in Thailand, and others which say that they can. I know that this has been covered before, but whats the current situation ? Cheers, Artie Link to comment Share on other sites More sharing options...
lopburi3 Posted July 5, 2004 Report Share Posted July 5, 2004 Am no expert as have no interest in either but from general reading: Believe the only current exception for land ownership involves investment of 40 million baht (not of interest to me so you will have to dig details yourself). Other than that it is a condo of less than 50% foreign ownership AFAIK. Two work arounds are used. Company ownership and long term lease. Both, if proven to be for defacto ownership of land would probably be on shaky ground in court. Americans currently have business ownership ability (which may end) and those from Oz may get a limited amount this week from some press reports. Otherwise it is minority ownership (at least on paper). Link to comment Share on other sites More sharing options...
khunsanuk Posted July 5, 2004 Report Share Posted July 5, 2004 Hi, "Believe the only current exception for land ownership involves investment of 40 million baht" If you are refering to the Elite Card scam, then you can still not own the land even after paying this amount. The Elite Card company will own the land and let you lease it. So, rather than trusting your wife with the land/money, you have to trust a Thai company.... uh.... yeah... Sanuk! Link to comment Share on other sites More sharing options...
lopburi3 Posted July 5, 2004 Report Share Posted July 5, 2004 If you are refering to the Elite Card scam, No. The card had some such offer but believe it was less than 40 million. This is an investment for up to one rai of land that can only be used for residence and has a bunch of requirements. Believe it is still available for those with that kind of money to spare but have not checked into it. Link to comment Share on other sites More sharing options...
lopburi3 Posted July 5, 2004 Report Share Posted July 5, 2004 LINK Above is a link to 40 million land deal information. Link to comment Share on other sites More sharing options...
gobbledonk Posted July 6, 2004 Author Report Share Posted July 6, 2004 Thanks, Lopburi and KS - I dont have 40 million (baht, pounds, pesos or lire), so I'm in the same boat as the majority of members. What confuses me is that I regularly read posts from Farangs wanting to know about things like cheap condos - are they all aware of the reality of the transaction ? Is the seller legally obliged to make the law clear to them ? If its anything like Oz, the only rule is Caveat Emptor ..... As for buying it in the name of a Thai partner, I think we've all read enough horror stories to know the pitfalls of that approach. Perhaps things will loosen up a little now that Thailand and Oz have signed a Free Trade agreement :: At one stage, I thought Thaksin and our PM were going to embrace one another - kinda makes you feel all warm and fuzzy inside when you see two men with that much combined warmth in the same room. Link to comment Share on other sites More sharing options...
khunsanuk Posted July 6, 2004 Report Share Posted July 6, 2004 Hi, As far as I know you *can* legally own a condo. Sanuk! Link to comment Share on other sites More sharing options...
samak Posted July 6, 2004 Report Share Posted July 6, 2004 yes, sure, Farang can legally buy Condos; only land is a problem Link to comment Share on other sites More sharing options...
gobbledonk Posted July 7, 2004 Author Report Share Posted July 7, 2004 I guess its no worse than the situation apartment owners find themselves in here in Oz - they pay body corporate fees *and* council rates, despite owning no land. Makes me want to kiss the dirt that my house sits on - once my trees get another metre or so into the air, I'll be able to dance naked in the backyard Link to comment Share on other sites More sharing options...
rickfarang Posted July 18, 2004 Report Share Posted July 18, 2004 The Thai Consulate in Los Angeles has a pretty complete explanation on their web site in both English and Thai versions. Here is the URL for the English version. http://www.thai-la.net/legalize/land_eng.pdf Its a little confusing to read, so a little "windage" needs to be applied to the interpretation. Rick Link to comment Share on other sites More sharing options...
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