Quote:
Originally Posted by indianmagicoil
Sorry I was using "house" should use "home". Professor is correct; a foreigner, under current Thai laws, cannot own land privately under his name.
So that is why I always advise people to buy a freehold condo which you can own under your name and involves less paperwork & more straight forward. Owning a condo is also a better option if you are not going to retire in Thailand soon or plan to use the place often because it is easier to rent out.
To own land the usual way is to create a Thai registered company with you holding 49% share and another 2 Thai nationals holding the majority 51%.
Or if you have a lot of $$$ u can also own up to one rai (1,600 sqm) of land for residential use, if u transfer a minimum of BHT40 million from abroad to invest in certain types businesses in Thailand.
You still can "own" land and built that bungalow of yours legally by way of a lease, usufruct or superficies.
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very good info, when i grow old leaw, i know who to look for to buyt house in thailand province.