A foreigner in Thailand has three legal routes to property: a freehold quota in a condominium (up to 49% of the building's floor area), a 30-year leasehold, and ownership through a Thai company.
A foreigner in Thailand has three legal routes to property: a freehold quota in a condominium (up to 49% of the building's floor area), a 30-year leasehold, and ownership through a Thai company. Each route comes with its own economics and its own level of risk.
Condo freehold is the only form of full ownership: your name on the Chanote, inheritance and unrestricted resale. The price of that security is the quota: in popular projects the foreign allocation is bought out during construction.
A 30-year leasehold is the principal format for villas. Importantly, Thailand's Supreme Court has ruled the “30+30+30” auto-renewal schemes void — legally you have only the first 30 years, and we say this to clients plainly before the deal, not after.
Anyone promising to “bypass the restrictions” is selling you risk, not property.
A Thai company with nominee shareholders is a route we steer clients away from: the state campaign against nominees has gathered pace, tens of thousands of companies are under screening, and liability extends to criminal charges. If a company, then only with a genuine Thai partner and genuine business activity.
The Phuket Prestige conclusion: for apartments — only freehold within the quota; for villas — an honest leasehold with a well-drafted contract, or a structure with a genuine partner. Anyone promising to “bypass the restrictions” is selling you risk, not property.
