If you have fallen hopelessly in love with the Royal Kingdom of Thailand, you definitely aren’t alone, as many foreigners are in the same boat. Having made the decision to spend many years in this amazing land, you will obviously need a base, and in this article, we offer some useful information about how to put down roots and create a home/office.
Land Ownership
It is not permitted for foreigners to own land in Thailand, which means you can’t purchase a plot of land and build your dream home. That doesn’t mean you can’t secure a piece of land on which to build your dream home; you can, for example, lease a plot of land for 30 years, with an option for a further 30 years. This is known as a ‘30x30’ lease, and it gives you the security you need, and according to Thai law, you can own the building, but not the land it sits on. If, for example, you decided to move on, you could sell the house and the remainder of the lease, and the price would depend on the remaining lease duration.
Building in Thailand
Of course, you want to use materials that are designed for a tropical climate, for example, use ระแนงไวนิล UPVC (UPVC vinyl Slat) for roofing, as this material stands the test of time and offers a high level of insulation. Thermal blocks are better than traditional bricks because of the insulation, keeping the interior cool in the hot summer, while aluminium is ideal for door and window frames. Hire a reputable custom builder that has an excellent reputation within the industry and can show you fine examples of their previous projects.
Setting Up a Thai Company
This is another way to secure land on which to build a house. You can set up a private limited company, with a Thai or Thais holding 51% of the shares, while you can own the remaining 49%. The company must be active; if it isn’t, you run the risk of having the land and real estate confiscated by the Thai authorities. Setting up a company solely for the purpose of acquiring land is illegal, so be warned!
Good Long-Term Investment
Wherever you happen to build your dream home, real estate is always a good long-term investment in Thailand, as prices are always on the rise. Build a quality property, and you won’t regret it.
Condo Ownership
Foreigners are allowed to own a condo unit outright, provided Thai people own at least 51% of the units, plus you need to show evidence that the funds came from abroad. Many foreigners choose this option, especially retirees who do not require a lot of living space.
Always check with Thai Immigration regarding entry requirements before you book your flight, and we hope that this information is useful to you.
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