Can farang buy house or land

[elektrified]

Are you a Thai citizen? Because foreigners can not "buy a house" in Thailand. Only a condominium.

[BigWheelMan]

Are you a Thai citizen? Because foreigners can not "buy a house" in Thailand. Only a condominium.

Absolutely correct.

Is the OP suggesting that members advise him on how to do something illegal?

[barlinnie]

Please read the following from Jasmine Homes webpage. It is one option for buying a house in Thailand.

Leasehold

This option has become much more popular recently, due to a relaxation in Thai law that allows foreigners to lease land for up to 30 years (with 2 successive renewals making 90 years). In fact, if the land is for commercial use (an office for example) then each lease can be for 60 years each term.

Typically the lease will allow the tenant to own the land at any time in the future should Thai law be changed to permit it, and also allow ownership to be transferred to any person (or company) nominated by the tenant at any time. This means that the lease can be converted to ownership at any time, and without further payment (other than Thai tax payable on transfer). The lease, if used as part of a 'superficies agreement' also entitles the tenant to full ownership of all buildings and developments erected on the land and full rights to transfer the benefit of the lease as they see fit. One other benefit of Leasehold is that the tax payable on registration is much lower than the tax on an outright purchase.

This option can also be used in conjunction with any of the other options above. In other words, the property can be purchased in the name of a company or Thai partner and then leased to the foreigner, giving them effective ownership for 90 years.

[sarahsbloke]

This option has become much more popular recently, due to a relaxation in Thai law that allows foreigners to lease land for up to 30 years (with 2 successive renewals making 90 years).

I'm pretty sure I read a bit of Thai law that stated, "any contract attempting to extend a lease beyond 30 years by use of renewals will be deemed illegal"

Anyway, CoolpuntVille 9, out near Hang Dong.

I had a look round their new homes last year, the windows already had gaps around them (shrinkage) and the walls had cracks.

3,000,000bht bought you a very nice 4 bed executive home (with 4 shower rooms) and external maids quarters, but I'm not sure you would need a lease for longer than 10 years ........ by the quality of the building.

Edited April 20, 2010 by sarahsbloke

[Maejo Man]

I've just brought some land in Lanna Thara moo baan Ratchapruk Rd on the way to night safari. There are around 6 new houses there for sale and some blocks of land still for sale. Construction seems ok and you can design your own home.

Would you mind sharing with us how exactly you "bought" the land. It's always of interest

[Rinrada]

"bought" the land...usually via a "company"...or wife......

...on the other hand??

[doppa]

my advice, dont do it!

for all the reasons YOU need to find out about, some of which are on here.

putting it in your thai wifes name is illegal full stop, yes there are folk that do it, but its totally illegal.

the 30yr lease scheme as far as i know , hasn't gone beyond the 30yrs, because no one i know has being here long enough, hence no one knows if the next 30yr leases are for real.

this is a country of political turmoil, which in the next year or so [ie the kings health] is going to get worse, ask yourself this question can i afford to lose the money i'm going to shell out for this project, if the answer is no, thats the ultimate reason not to buy, if it's yes ignore this e mail.

thai govt. change rules and regs. to suit their own, we as guests have no rights whatsoever, we are below bottom of the pecking order.

renting gives you the escape clause you dont have when buying, think very seriously about this.

[WinnieTheKhwai]

my advice, dont do it!

for all the reasons YOU need to find out about, some of which are on here.

putting it in your thai wifes name is illegal full stop, yes there are folk that do it, but its totally illegal.

Why would it be illegal for a Thai person to own a house??

You're just talking gibberish. I'm very ready to accept that fake-company constructiosn are illegal, but honestly a Thai person can own a house.

the 30yr lease scheme as far as i know , hasn't gone beyond the 30yrs, because no one i know has being here long enough, hence no one knows if the next 30yr leases are for real.

Indeed they're not. Any extension is an option at best. Still, 30 years is more than enough for most Farangs I see around town. Unless they want to take it into the grave with them. At that time ownership will likely transfer to any kids, etc, which is exactly the same as when they would own it outright.

this is a country of political turmoil, which in the next year or so [ie the kings health] is going to get worse, ask yourself this question can i afford to lose the money i'm going to shell out for this project, if the answer is no, thats the ultimate reason not to buy, if it's yes ignore this e mail.

True. No guarantees about anything when it comes to Thailand. (Hmm. you're post does get more and more sensible as it progresses.. Kind of an interesting common-sense curve that you don't see so often. )

Edited April 20, 2010 by WinnieTheKhwai

[WinnieTheKhwai]

Anyway, to add some personal information which should make MJM happy:

My wife bought the house. It's all owned by the bank though, as there's a mortgage on it the size of Mongolia. We have a shared account where the mortgage payments are withdrawn from.

Second house (still very much a work in progress) will be a wooden construction that can just be moved. I'll personally and officially make all the purchases and contract the work, which will show it's my house.

All of the above however works best when in an equal and genuine relationship. Ten years and counting. Two kids and counting.

Edited April 20, 2010 by WinnieTheKhwai

[Maejo Man]

Anyway, to add some personal information which should make MJM happy:

My wife bought the house. It's all owned by the bank though, as there's a mortgage on it the size of Mongolia. We have a shared account where the mortgage payments are withdrawn from.

Second house (still very much a work in progress) will be a wooden construction that can just be moved. I'll personally and officially make all the purchases and contract the work, which will show it's my house.

All of the above however works best when in an equal and genuine relationship. Ten years and counting. Two kids and counting.

It's great to see that people can be happy and actually work within a somewhat unfair system. I have a lot of friends in a similar situation to yourself, and they are similarly just as happy.

Then you get turkeys such as Mr. Leffe that claim that he has "Bought" land which we all know is imposible other than what has been stated above. He really means that he has shelled out his cash to some deserving Thai, where be it wife or company so that he can park his rude personage on it for the next maybe 30 years...

Keep up the good work Winnie

[Toolz]

Then you get turkeys such as Mr. Leffe that claim that he has "Bought" land which we all know is imposible other than what has been stated above. He really means that he has shelled out his cash to some deserving Thai, where be it wife or company so that he can park his rude personage on it for the next maybe 30 years...

???

There's something going on outside this thread right?

[doppa]

my advice, dont do it!

for all the reasons YOU need to find out about, some of which are on here.

putting it in your thai wifes name is illegal full stop, yes there are folk that do it, but its totally illegal.

Why would it be illegal for a Thai person to own a house??

You're just talking gibberish. I'm very ready to accept that fake-company constructiosn are illegal, but honestly a Thai person can own a house.

the 30yr lease scheme as far as i know , hasn't gone beyond the 30yrs, because no one i know has being here long enough, hence no one knows if the next 30yr leases are for real.

Indeed they're not. Any extension is an option at best. Still, 30 years is more than enough for most Farangs I see around town. Unless they want to take it into the grave with them. At that time ownership will likely transfer to any kids, etc, which is exactly the same as when they would own it outright.

this is a country of political turmoil, which in the next year or so [ie the kings health] is going to get worse, ask yourself this question can i afford to lose the money i'm going to shell out for this project, if the answer is no, thats the ultimate reason not to buy, if it's yes ignore this e mail.

True. No guarantees about anything when it comes to Thailand. (Hmm. you're post does get more and more sensible as it progresses.. Kind of an interesting common-sense curve that you don't see so often. )

my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

i dont think ive mentioned anywhere that thais cant own houses , which of course is ludicrous, what do you take me for!!!!!

if thai law changes for farangs i would want it set in stone, before i buy.

with regards to 30yr leases, you know anyone who's still with the same woman after 30yrs in this country, mmmm, i dont, by all means live for the day, but certainly plan for the future.

thanks for your back handed compliment by the way!

[doppa]

Anyway, to add some personal information which should make MJM happy:

My wife bought the house. It's all owned by the bank though, as there's a mortgage on it the size of Mongolia. We have a shared account where the mortgage payments are withdrawn from.

Second house (still very much a work in progress) will be a wooden construction that can just be moved. I'll personally and officially make all the purchases and contract the work, which will show it's my house.

All of the above however works best when in an equal and genuine relationship. Ten years and counting. Two kids and counting.

your wife owns the house which is fine, did you provide the funds for deposits etc , if so under thai law that is illegal.

if similiar circumstances were to apply in your own country, would you take the risk, i doubt it, but they do here, which i really just dont understand.

[WinnieTheKhwai]

Anyway, to add some personal information which should make MJM happy:

My wife bought the house. It's all owned by the bank though, as there's a mortgage on it the size of Mongolia. We have a shared account where the mortgage payments are withdrawn from.

Second house (still very much a work in progress) will be a wooden construction that can just be moved. I'll personally and officially make all the purchases and contract the work, which will show it's my house.

All of the above however works best when in an equal and genuine relationship. Ten years and counting. Two kids and counting.

your wife owns the house which is fine, did you provide the funds for deposits etc , if so under thai law that is illegal.

I wish I had funds to deposit! But no, I did not. I don't think a deposit was even required due to some creative financial arrangements with the bank and the seller. I think the issue is primarily with the land though, not so much with the structure on it.

if similiar circumstances were to apply in your own country, would you take the risk, i doubt it, but they do here, which i really just dont understand.

Well, I'm basically just contributing some 'rent' with the mortgage payments, shared with the Mrs. (and her company, which I believe rents (part of) the house from her. Not exactly sure, she's the legal eagle and financial brains in the family.

It is the way it is.. At least our kids one day will own it.

Edited April 20, 2010 by WinnieTheKhwai

[WinnieTheKhwai]

my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

If it's illegal then what's the statement for that a foreign husband can sign to attest that all funds for the land purchase belong to the Thai partner? (After giving it to her, the funds are hers. ) And, I think that only applies when people are actually legally married? (Crap like this was one of the reasons for us to not actually get legally married. )

with regards to 30yr leases, you know anyone who's still with the same woman after 30yrs in this country, mmmm, i dont, by all means live for the day, but certainly plan for the future.

Well I'm one third of the way there. Ask me again in 20 years.

[elektrified]

I've just brought some land in Lanna Thara moo baan Ratchapruk Rd on the way to night safari. There are around 6 new houses there for sale and some blocks of land still for sale. Construction seems ok and you can design your own home.

Would you mind sharing with us how exactly you "bought" the land. It's always of interest

Thanks for raising that point MM. I too would be interested to know your secret on how you purchased this land.

[elektrified]

Please read the following from Jasmine Homes webpage. It is one option for buying a house in Thailand.

Leasehold

This option has become much more popular recently, due to a relaxation in Thai law that allows foreigners to lease land for up to 30 years (with 2 successive renewals making 90 years). In fact, if the land is for commercial use (an office for example) then each lease can be for 60 years each term.

Typically the lease will allow the tenant to own the land at any time in the future should Thai law be changed to permit it, and also allow ownership to be transferred to any person (or company) nominated by the tenant at any time. This means that the lease can be converted to ownership at any time, and without further payment (other than Thai tax payable on transfer). The lease, if used as part of a 'superficies agreement' also entitles the tenant to full ownership of all buildings and developments erected on the land and full rights to transfer the benefit of the lease as they see fit. One other benefit of Leasehold is that the tax payable on registration is much lower than the tax on an outright purchase.

This option can also be used in conjunction with any of the other options above. In other words, the property can be purchased in the name of a company or Thai partner and then leased to the foreigner, giving them effective ownership for 90 years.

What a load of B.S.

[ChiangMaiThai]

Are you a Thai citizen? Because foreigners can not "buy a house" in Thailand. Only a condominium.

Absolutely correct.

Is the OP suggesting that members advise him on how to do something illegal?

By buy a house, I mean my wife will be buying a house. Thanks...

[ChiangMaiThai]

my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

i dont think ive mentioned anywhere that thais cant own houses , which of course is ludicrous, what do you take me for!!!!!

if thai law changes for farangs i would want it set in stone, before i buy.

with regards to 30yr leases, you know anyone who's still with the same woman after 30yrs in this country, mmmm, i dont, by all means live for the day, but certainly plan for the future.

thanks for your back handed compliment by the way!

Is it really illegal for me to give money to my wife? What she does with it after that is not my business.

Also, it has been stated elsewhere the HSBC and other int banks will allow a foreigner working here to guarantee a loan for the Thai wife to buy a house.

[bifftastic]

[my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

As far as I can gather, it's not illegal to give your wife money. If it were, the world would be a very different place! What you have to do, when that money is used to buy a house, is to sign a document stating that you, as a farang, understand that you have no rights over the house and that it is owned by your wife. This is, I believe, because Thai courts distribute assets gained after marriage in the case of a divorce, in this case it would conflict with the law forbidding foreign ownership, hence the paperwork.

There have been many many threads on TV discussing this.

There's also much talk of 'why put money into something you don't own' etc. My view is, it's a place for you and your wife/family to live in, who cares who 'owns' it? I've had mortgages, paid rent, owned property/land. It doesn't feel any different when you open the door, nor does a rent payment feel any different to a mortgage payment. What matters is how you, and the people you live with, actually live in it. It would be nice if the kids could inherit it, which leads one down a certain path, but the whole ownership issue can become too much of a focus, in my opinion. And, if you let it, can drive a wedge between you and those sharing your living space.

Edited April 20, 2010 by bifftastic

[makescents]

due to a relaxation in Thai law that allows foreigners to lease land for up to 30 years (with 2 successive renewals making 90 years)

There's going to be a lot of foreigners out of pocket in the next 20-30 years.

[WinnieTheKhwai]

Why's that?

What it comes down to, ultimately, is that you're paying for accommodation. You could do that by paying rent to some person you don't know, or you could do that through mortgage payments on a house that will belong to someone you love, and who raises your children. Given those options, I'd rather support my family than any random person renting out a property.

( And then of course there's just spending all your money at Siam Paragon, that cornerstone of the sufficiency economy. )

Edited April 20, 2010 by WinnieTheKhwai

[Rinrada]

Wife owns "our"land but I have laid claim to the fresh mountain air,the warm sunshine and the blue sky above...plus the fridge (full of beer)....mine... mine ...all mine....and no arguments.

[BigWheelMan]

Many of these Thai wives mentioned on here, must be one in a million.

A Thai wife that not only buys the house, but uses her own cash as well.

This has changed my whole attitudes towards Thai women.

I bet they even pay the buffalos vet bills.

Edited April 20, 2010 by BigWheelMan

[WinnieTheKhwai]

Yup.. they're out there! I can thoroughly recommend marrying someone richer and better educated than yourself. At that point you can also stop worrying if they're in it for the money, which brings added normality to married life.

[barlinnie]

Please read the following from Jasmine Homes webpage. It is one option for buying a house in Thailand.

Leasehold

This option has become much more popular recently, due to a relaxation in Thai law that allows foreigners to lease land for up to 30 years (with 2 successive renewals making 90 years). In fact, if the land is for commercial use (an office for example) then each lease can be for 60 years each term.

Typically the lease will allow the tenant to own the land at any time in the future should Thai law be changed to permit it, and also allow ownership to be transferred to any person (or company) nominated by the tenant at any time. This means that the lease can be converted to ownership at any time, and without further payment (other than Thai tax payable on transfer). The lease, if used as part of a 'superficies agreement' also entitles the tenant to full ownership of all buildings and developments erected on the land and full rights to transfer the benefit of the lease as they see fit. One other benefit of Leasehold is that the tax payable on registration is much lower than the tax on an outright purchase.

This option can also be used in conjunction with any of the other options above. In other words, the property can be purchased in the name of a company or Thai partner and then leased to the foreigner, giving them effective ownership for 90 years.

What a load of B.S.

Not a very eloquent reply - can you elaborate on why you think this is what you call "B.S."?

[doppa]

let me try and put this as simple as possible, to give your thai wife money to buy a house is illegal under current thai law.

check it out out with any reputable lawyer, and before you sign up, ask them ' can you put that in writing that i'm not breaking the law by giving money to my thai wife to buy a house', lawyers response should be enough to make you think slightly more deeper.

[chuang]

my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

Is that so, I had bought a house for my g/f in hard cash, and it is under her name, is this illegal.....

[Thaihog]

let me try and put this as simple as possible, to give your thai wife money to buy a house is illegal under current thai law.

check it out out with any reputable lawyer, and before you sign up, ask them ' can you put that in writing that i'm not breaking the law by giving money to my thai wife to buy a house', lawyers response should be enough to make you think slightly more deeper.

Doppa, it's all in the wording as to how you give your wife the money. A legal expert told me years ago that if it's a 'Gift' then no law is broken. A simple play on words, but that's what the law is about.

I agree with your point about extensions to 30 year leases being illegal. Of course it's always real estate agents that plug the top up second and third 30th year lease.

Cheers.....

[doppa]

my point was if the op is a farang and he gives money for his wife to buy the house, it's illegal, full stop, no arguments, according to current thai law.

Is that so, I had bought a house for my g/f in hard cash, and it is under her name, is this illegal.....

would recommend you see a lawyer , ask the question, then ask him to put it in writing that its not illegal, and see what his reaction is, loads of people do it, the risk is that your gf could be asked to prove where the money came from, ie savings from a job etc, if she cant she could be under scrutinisation, now what the penalties are i dont know, you maybe be lucky and it never happens.