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Purchase and Hold Title of House & Land through a Thai Company The most common way is to set up a Thai company which can purchase the land. As a foreign national you may not own more than 49% of the shares. So to have control over the company, you must be a director of the company as well as holding ordinary shares. |
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Thai law permits the issuing of classified or two-tiered stocks.‘Ordinary Share’ where the holder of one share is entitled to one vote, and‘Preferred Share’, where a shareholder must have 20 shares in order to obtain one vote. |
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You should be fully aware that there are legal responsibilities and tax liabilities when you own and run a Thai company |
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Foreign Spouse Purchase and Hold Title of House& Land Thai nationals who are married to foreigners have the right to purchase land, however the Thai spouse must prove that the funds used for the purchase of freehold land, were owned by the Thai spouse prior to the marriage and are beyond foreign claim.
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LEASEHOLD
Leasehold is an option, when someone may not be comfortable with registering a Thai company but would like to obtain a plot of land. Under certain terms and conditions, land can be leased and officially registered at the local land office. The most common in use is three continuous 30-year leases (90 years). The long terms of these leases means that you effectively own the freehold of the land.
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Note 1: |
This method is preferred by some due to its simplicity and especially as there is no requirement for a company set up.
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Note 2: |
Any renewal of 30 year lease is a contractual matter between the parties to a lease. It is not automatically extended but a lease can be drafted to place strong protections for the lessee in the event of breach by the lesser. |
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CONDOMINIUM
Under the Condominium Act, ownership of part of the 49% quota in a condominium development is available for individual foreigners to purchase as a direct freehold. However, for the rest of the condominium units, the foreigners have to buy via indirect freehold with a Thai company or via leasehold outright in their own name.
Visitors to and foreign residents of Thailand require a specific visa to stay. The type is dependent upon their length of stay and activity undertaken while in the country.
Transit Visa
This is the basic visa issued to those arriving in Thailand without a visa issued from a Thai consulate/embassy outside of the country. However, the issuance of this visa is usually reliant upon the visitor having a flight ticket to leave the country before the transit visa expires. In most cases, a visitor arriving without a visa will be issued a transit visa for 14 days, however residents of several countries are able to obtain visas for three months upon arrival, while others will need to apply for a receive a visa before leaving their own country for Thailand. Thai visa regulations are dependent upon the specific country of origin and should be clearly checked before departure for Thailand or the visitor may be forced to exit the country before even leaving the airport.
Tourist Visa
Valid for between 60 and 90 days, these visas can only be issued by Thai consulates/embassies overseas. The duration of the visa is dependent upon the home country of the person applying and the country in which it is applied for. It may be possible to receive more than one Tourist Visa at a time that can then be used consecutively, however it is rare that such roll-overs are allowed and is again country specific. As long as no work is undertaken and the holder is solvent, it is possible to receive repeated tourist visas at the cost of a short trip to a neighbouring country (Malaysia, Laos, Cambodia, etc). however, it should not be considered as guaranteed and is dependent upon a case by case basis.
Non-Immigrant Visa
Valid for 90 days, these visas can only be issued by Thai consulates/embassies overseas, however they can be extended for up to a year while in the country. The criteria that allows for the issuance of a Non-Immigrant Visa are:.
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that the person applying is working in Thailand and has a valid work permit (see below) |
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that the person applying has a Thai family |
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that the person applying is retired (over-55) and can show adequate means of financial support |
A significant amount of personal documentation must be copied with the application for a Non-immigrant Visa and for each renewal thereafter. Holders should also apply for a re-entry permit if they intend to leave the country during the period of the visa, or the visa will be cancelled upon leaving.
Resident Visa
Only a small number of Resident Visas are issued each year. The person applying must show an ability to read and write Thai, have a solid local financial background and submit references from respectable Thai nationals.
Work Permit
Every foreign national who wishes to work in Thailand must hold a Work Permit before the work is begun. Applying for the Work Permit is the responsibility of the employer, but it is the responsibility of the foreign employee to ensure that the Work Permit is in place before work is begun. Employers found to be using foreign labour without a work permit will be fined, but the foreign employee will be arrested, possibly jailed, and very likely deported with a "persona non grata" stamp in their passport, which disallows future visits to the country.
Companies applying for Work Permits for foreign employees usually require a registered capital of at least Bht3 million, unless it is for a specialized position that cannot be taken by a Thai national. Laws regarding working foreigners are now strict and strictly administered. It is in the foreign nationals best interests to ensure that the application procedure is undertaken correctly.
