Buying land or house?

[problemfarang]

I would like to ask if its possible?

Many years ago i heard if you pay 40million baht you can own a land in your name.

Is it still going on and also how big is the land? 

Can i use it for my home or its like investment thing?

If not is there any other way?

I also heard if you have a company in your name (using BOI) you can buy a land and build whatever you want in that land area.. or something like this.. 

 

 

 

Thank you

[BrandonJT]

No, a foreigner cannot own land.

Any "tricks" to get around this law are illegal, including using a company.  People do it, but they also lose their homes when if it's found out.

 

You can own a house, but you would not own the land the house is on.  The most you can get is a 30-year lease for the land.  Even if the land-owner signs a contract stating you are guaranteed to be able to renew this lease, there is no basis in law that says they actually have to allow you to lease it again after the maximum 30 year lease period.

[DrJack54]

Moved to real estate forum

[problemfarang]

12 minutes ago, BrandonJT said:

No, a foreigner cannot own land.

Any "tricks" to get around this law are illegal, including using a company.  People do it, but they also lose their homes when if it's found out.

 

You can own a house, but you would not own the land the house is on.  The most you can get is a 30-year lease for the land.  Even if the land-owner signs a contract stating you are guaranteed to be able to renew this lease, there is no basis in law that says they actually have to allow you to lease it again after the maximum 30 year lease period.

 

i see.. so what about that 40million baht thing? im pretty sure you get something when you pay 40mil. you can buy a land and i think you do it via BOI and BOI approves you as a investor. Then you are allowed to buy a land and do something or build something on it to make investment.. and then you build your house in this land so basically it becomes yours too.. 

[Liquorice]

Only foreign owned businesses (not individuals) can purchase land.

https://www.siam-legal.com/thailand-law/new-boi-thailand-rules-allow-foreign-businesses-to-buy-more-land/#:~:text=The Thailand Board of Investment,on leases from Thai landlords.

 

You will never own it.

[problemfarang]

17 minutes ago, Liquorice said:

Only foreign owned businesses (not individuals) can purchase land.

https://www.siam-legal.com/thailand-law/new-boi-thailand-rules-allow-foreign-businesses-to-buy-more-land/#:~:text=The Thailand Board of Investment,on leases from Thai landlords.

 

You will never own it.

 

i see.. thats what i need to know.. thank you..