People think that foreigners are not allowed to own houses here. Why?

[Naam]

Why, in the name of the deity, would anyone buy a house that can have an all night karaoke or a rock grinding mill set up next door, and TiT so can't do anything about it.

In LOS, renting is the only sane thing to do, IMO.

why in the name of any deity would anyone be stupid enough to buy or build a house next to potential setups of a karaoke joint or a rock grinding mill?

[maanoi]

Actually foreigners CAN own house and 1 rai of land in Thailand. Just invest 40 million baht then with ministerial approval, it's yours. It's in the law. Legal foreign ownership of Thai land.

So stop complaining. You'd be better off spending the time working and earning.

Has anyone done this?

[Crossy]

Just a word of warning, the subject of this thread is NOT 'Buy vs Rent', there's a nice thread on that subject here http://www.thaivisa.com/forum/topic/819665-reasons-why-one-should-rent-and-not-buy-property-in-thailand/

Further off-topic posts discussing Buy vs Rent will be removed.

[balo]

You could buy a small house that can be moved, like this micro house. Then just move it when your relationship is going down the drain.

[Naam]

Just bought a house in Samui. No problems at all. Set up a Thai company and register it all in that name. Easy.

Easy yes, and not to mention illegal.

That is unless the company is actually a true business (has staff, files accounts, pays taxes etc). However, if the company has been setup for the sole purpose of you circumnavigating Thailand's laws on land ownership then the practice of setting up a Thai company in this manner is illegal - no two ways about it.

And no matter what your real estate agent told you, it's illegal.

It could also be a headache if you ever have to sell the house as who wants to buy something that is illegal?

Do you have any idea who the Thai shareholders are of said company - probably a few of the girls in the real estate office, right? The cleaner perhaps? A few local motorbike taxi guys?

The same individuals names probably appear on hundreds of company shareholder lists, which will only be a matter of time before this raises the suspicions of the authorities. I believe a similar clampdown on this kind of malpractice has been and remains on going in Phuket.

gimme a break mate! you think you think the authorities are so stupid or naïve that they are not aware of the "malpractice" that is going on since decades?

[cruisemonkey]

People can't own houses in Thailand because the termites do... and they'll eat it before the thirty year lease on the land expires.

[Alwyn]

I didn't realise there was confusion over the land/house ownership issue?

[i claudius]

I hear a new law is coming in that any foreigner can import or own a car,but not the wheels,is this true?

[wwest5829]

I agree there is a lot of confusion over foreigners being able to own houses in Thailand.

As I said in the poll thread earlier, foreigners can own any property in Thailand 100% in their name. They just can't legally own the land it sits on.

You can dress it up however you want, but a lease isn't ownership - it's a lease.

If you're hell bent on buying a property, setting up a usufruct on the land plot is perhaps a better way to go, but this still isn't ownership.

I think Thailand's existing laws on foreigners owning land were probably established to stop wealthy foreign individuals and/or corporations buying up masses of land and leaving Thais with nothing. You can't really blame them for wanting to protect their land - don't forget how nationalistic Thais are.

Of course the results of this means that the country misses out on huge investment.

Interestingly, did you see that Vietnam is now offering 100 year leases to foreigners - http://www.thaivisa.com/forum/topic/825366-foreigners-can-own-houses-for-100-years-in-vietnam/

s

Yes, the wife has pointed out that foreigners would come in, buy the land and houses and drive property prices out of the reach of many Thais. There is a bit of irony ignored, the wealthy Thais are doing it anyway. Not limited in Thailand, this process, for better or worse, can be seen worldwide.

[lostoday]

I agree there is a lot of confusion over foreigners being able to own houses in Thailand.

As I said in the poll thread earlier, foreigners can own any property in Thailand 100% in their name. They just can't legally own the land it sits on.

You can dress it up however you want, but a lease isn't ownership - it's a lease.

If you're hell bent on buying a property, setting up a usufruct on the land plot is perhaps a better way to go, but this still isn't ownership.

I think Thailand's existing laws on foreigners owning land were probably established to stop wealthy foreign individuals and/or corporations buying up masses of land and leaving Thais with nothing. You can't really blame them for wanting to protect their land - don't forget how nationalistic Thais are.

Of course the results of this means that the country misses out on huge investment.

Interestingly, did you see that Vietnam is now offering 100 year leases to foreigners - http://www.thaivisa.com/forum/topic/825366-foreigners-can-own-houses-for-100-years-in-vietnam/

Yes, the wife has pointed out that foreigners would come in, buy the land and houses and drive property prices out of the reach of many Thais. There is a bit of irony ignored, the wealthy Thais are doing it anyway. Not limited in Thailand, this process, for better or worse, can be seen worldwide.

Been going on for a while.

[robertson468]

Just bought a house in Samui. No problems at all. Set up a Thai company and register it all in that name. Easy.

Sometimes they check on companies that don't have any turn over. Setting up a company with the sole purpose to cheat the land laws is illegal.

You need to tell that to the Thai Lawyers who set up the Companies, well knowing what they are for and perhaps any legal action should be taken against them, also providing compensation to the purchaser for being complicit in the Owner breaking the law (said Mr Grumpy). However, the reality is there are thousands of Companies which have been set up to own houses built on land that has been purchased by the Company. If Thailand has a purge on this, I think all hell would break loose as it must involve hundreds of thousands of foreigners.

[DLang]

I hear a new law is coming in that any foreigner can import or own a car,but not the wheels,is this true?

Went to the pub at the weekend. Apparently I owned the beer, but not the glass that it was in. I was absolutely furious. What good is beer without the glass it's served in.

[Crossy]

I hear a new law is coming in that any foreigner can import or own a car,but not the wheels,is this true?

Went to the pub at the weekend. Apparently I owned the beer, but not the glass that it was in. I was absolutely furious. What good is beer without the glass it's served in.

You rent rather than buy the glass.

Argh. Now I must give myself a warning for breaking my own ruling

[wowfactor10]

My wife owns all our property. Still trust her more than 51% biatch

I never seen that go wrong here in Thailand..So enjoy YOUR real estate while it last !

[impulse]

I hear a new law is coming in that any foreigner can import or own a car,but not the wheels,is this true?

Went to the pub at the weekend. Apparently I owned the beer, but not the glass that it was in. I was absolutely furious. What good is beer without the glass it's served in.

You rent rather than buy the glass.

Argh. Now I must give myself a warning for breaking my own ruling

As I recall, the beer is on rental, too.

[wowfactor10]

Thailand should allow foreigners to buy max 1-2 rai in their own names..It will only push their economy forward without foreigners able to speculate with the land.

Thais can buy land abroad also..

[thaibeachlovers]

I agree there is a lot of confusion over foreigners being able to own houses in Thailand.

As I said in the poll thread earlier, foreigners can own any property in Thailand 100% in their name. They just can't legally own the land it sits on.

You can dress it up however you want, but a lease isn't ownership - it's a lease.

If you're hell bent on buying a property, setting up a usufruct on the land plot is perhaps a better way to go, but this still isn't ownership.

I think Thailand's existing laws on foreigners owning land were probably established to stop wealthy foreign individuals and/or corporations buying up masses of land and leaving Thais with nothing. You can't really blame them for wanting to protect their land - don't forget how nationalistic Thais are.

Of course the results of this means that the country misses out on huge investment.

Interestingly, did you see that Vietnam is now offering 100 year leases to foreigners - http://www.thaivisa.com/forum/topic/825366-foreigners-can-own-houses-for-100-years-in-vietnam/

I think Thailand's existing laws on foreigners owning land were probably established to stop wealthy foreign individuals and/or corporations buying up masses of land and leaving Thais with nothing. You can't really blame them for wanting to protect their land - don't forget how nationalistic Thais are.

Love this quote. Forget about foreign individuals, large corporations coming in and buying up masses of land. 10% of the rich Thais already own about 90% of the land. The price now is to high for the average Thai to pay. The rich will continue to gobble up land here till they own it all. Thailand is not the only country where this is happening. Its all part of the new world order where the rich will own it all and we will be peasants working for them. History does repeat itself.

And, if we look at history, eventually the rich that thought they had everything get very dead.

The only question is how long to the next revolution?

[thaibeachlovers]

Thailand should allow foreigners to buy max 1-2 rai in their own names..It will only push their economy forward without foreigners able to speculate with the land.

Thais can buy land abroad also..

Just because Thais can take advantage of the stupidity of western laws does not mean that they should be stupid too.

[thaibeachlovers]

My wife owns all our property. Still trust her more than 51% biatch

I never seen that go wrong here in Thailand..So enjoy YOUR real estate while it last !

The only things I own in Thailand can all be taken to the second hand shop.

[thaibeachlovers]

Just bought a house in Samui. No problems at all. Set up a Thai company and register it all in that name. Easy.

Sometimes they check on companies that don't have any turn over. Setting up a company with the sole purpose to cheat the land laws is illegal.

You need to tell that to the Thai Lawyers who set up the Companies, well knowing what they are for and perhaps any legal action should be taken against them, also providing compensation to the purchaser for being complicit in the Owner breaking the law (said Mr Grumpy). However, the reality is there are thousands of Companies which have been set up to own houses built on land that has been purchased by the Company. If Thailand has a purge on this, I think all hell would break loose as it must involve hundreds of thousands of foreigners.

Just how would "all hell break loose"? Do you think for one instant that farangs could do anything about it? Court action 55555555.

If there really are hundreds of thousands of companies set up by farangs to circumvent Thai law, it only says to me that there are an awful lot of either criminal or stupid farangs here.

[ukrules]

Just bought a house in Samui. No problems at all. Set up a Thai company and register it all in that name. Easy.

A company that you can only own 49% of.....

Unless you're from the US and you set up an Amity treaty company...

[thaibeachlovers]

My thought is......The new gov is shafting the loop holes regarding visas, we have all read about it. Next will be the "house ownership" loop holes....Early days for the new gov to sort through the loop holes..........

They are not closing "loopholes" for visa extensions- they are inventing things that have never been part of the requirements to make things more difficult.

[Jonmarleesco]

I think we all know the theory, thank you.

The fact remains, you can't float a house in the air; and few would fully trust the 30 year rollover lease option.

Thais owning, let's say, for clarity, a property in the UK, own it without restrictions. It therefore stands to reason that the same privilege should be extended to British residents in Thailand. It isn't!

[lostoday]

I think we all know the theory, thank you.

The fact remains, you can't float a house in the air; and few would fully trust the 30 year rollover lease option.

Thais owning, let's say, for clarity, a property in the UK, own it without restrictions. It therefore stands to reason that the same privilege should be extended to British residents in Thailand. It isn't!

Tell your government to negotiate a treaty of Amity. What is good for the Thai is good for the Brit.

[MAJIC]

None of the above address the topic.

"

People think that foreigners are not allowed to own houses here. Why?"

A lease is not ownership!

[Jools]

Why would anyone buy a house here? I simply do not understand the concept of owning a house which sits on land that could be snatched out from under you on a whim. Renting is the only sane option in Thailand. Americans and Brits are obsessed with "ownership". Something which does not really exist here.

[MaeJoMTB]

As I said in the poll thread earlier, foreigners can own any property in Thailand 100% in their name. They just can't legally own the land it sits on.

No you can't, you can only own a house you built yourself and first registered as separate to the land.

Once registered as a single entity, that's it forever.

[Travelman868]

I agree there is a lot of confusion over foreigners being able to own houses in Thailand.

As I said in the poll thread earlier, foreigners can own any property in Thailand 100% in their name. They just can't legally own the land it sits on.

You can dress it up however you want, but a lease isn't ownership - it's a lease.

If you're hell bent on buying a property, setting up a usufruct on the land plot is perhaps a better way to go, but this still isn't ownership.

I think Thailand's existing laws on foreigners owning land were probably established to stop wealthy foreign individuals and/or corporations buying up masses of land and leaving Thais with nothing. You can't really blame them for wanting to protect their land - don't forget how nationalistic Thais are.

Of course the results of this means that the country misses out on huge investment.

Interestingly, did you see that Vietnam is now offering 100 year leases to foreigners -

I think you only need to look at France and Spain to understand what can happen if there is no protection

[MaeJoMTB]

....If stuff goes pear shaped I get half back.

Dead men claim no halfs .............

[Crossy]

UP ^^^? Trans.