Thai law stipulates that a foreigner may not own land in his name, he has the right of ownership of buildings only. If a foreigner wishes to purchase land to build a property he has 2 options;
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The land is purchased on a 30 year leasehold, with an option to extend the lease for further 30 year periods. Possession of the land is assured by virtue of the fact that the property occupies the land. The lessor cannot seize the property upon expiration of the lease, as the property is separate from the land.
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If a foreigner is going to operate a business in Thailand then he may purchase the freehold of the land through his Limited Company. Details on forming a Thai Limited Company can be found here < Click Here>. The land will be owned by the Company, not the individual. |
LAND TITLES
There are many different types of land titles in Thailand, the majority of which do not allow for the legal right to build on that land. At Asialand we only recommend 3 land titles;
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NOR SOR 3 ; This is the lowest land title which allows for legally building a property, but is not ideal as the land is measured approximately. There are no markers to indicate the boundaries of the land.
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NOR SOR 3 GOR ; This land has been measured using aerial survey to set the points and land area. This land can be sub-divided into separate plots.
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CHANOT ( land title deed ); This land has been accurately measured using GPS to set the area and boundaries of the land. The boundaries of the land are indicated by numbered posts. |
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