Property Ownership Rights
As a real estate expert in Thailand, I, Anna Miroshina, would like to explain the key points regarding property rights for foreign investors.
Despite the ban on direct ownership of land for foreigners, there are legal options available:
Condominiums: This is the easiest way for foreigners to acquire real estate. The law allows ownership of up to 49% of the property’s square footage.
Long-term leases: Foreigners can lease land for up to 30 years with an option to renew, which is convenient for those planning to build a house or villa.
Company: It is possible to purchase land through a Thai company, subject to the 51% local ownership requirement.
Legal Framework: It’s essential to understand land title deeds in Thailand, such as the Chanote (the most secure title) or the Nor Sor 3 Gor. Each type offers different levels of ownership security, so it’s crucial to engage a lawyer to help you review any potential purchase.
With proper legal advice, foreign investors can confidently invest in Thailand’s real estate market, ensuring both compliance with local laws and the protection of their assets. The key is understanding the available options and working with the right professionals to guide you through the process.
Feel free to reach out if you have any questions about buying or investing in property on Koh Samui!