How Can Foreigners Buy Property in Thailand?

[@JettGunther]

For those who claim you can just setup a Thai company and buy land, watch this video as well by Integrity Legal "Thai Officials Target Companies for 'Property Projects' for Foreigners" kzbin.info/www/bejne/r5a0kJZ3ocZre6s

[@logicalthoughts]

Thank you for this information. Thailand and Malaysia are my two top choices to retire in in the next few years.

[@garywright8846]

Do not buy, Rent

[@KwameFly90]

I hope that never changes, the people of the land own it more then foreigners

[@alfredwilliams3176]

You talk like a buffolo

[@scottiebumich]

The 51% thai ownership is just a loophole. You set up a company with 51% thai ownership but 0% voting rights. Set up the contract such that 100% of voting rights + 100% cash flow and economic gains go to you. I'm shocked how you just forgot to mention this.

[@bayernfan6413]

He most probably didn’t mention it because it is illegal in many ways (circumvention of the Foreign Corporations Act, nominee business, false corporate goals), and once the authorities are after you, there is no argument you can use to get out of trouble

[@scottiebumich]

@@bayernfan6413 not really. As long as you rent your spare rooms occasionally and hire 4x thai employees your legal 100%

[@mr.marvelousmess6986]

Illegal and has no standing. Many farang are stressed these days trying to unwind starting a business to acquire a villa and now nobody will touch it.

[@scottiebumich]

@@mr.marvelousmess6986 um no

[@bayernfan6413]

@@scottiebumich If you run a true rental business and live in the place yourself some of the year, that's not a problem. However, this is not what most people want. If you started the business only to provide ownership of a property to a foreigner, this is not a permissible business goal, and your official goal does not reflect the truth behind the real motivation. Besides, the goal of any business is to make money, which is not the case with these constructions. Also, employing 4 Thais is a requirement for hiring a foreigner, which has nothing to do with owning land and running a bogus company. In Phuket, police recently raided 44 real estate businesses. Just because you got lucky and didn't get in trouble doesn't make it legal.

[@rickydofficial]

Very professional thank you for the great insight!

[@JettGunther]

Glad it was helpful!

[@vis1xn967]

@@JettGunther can u buy a house/land if u have the elite visa?

[@JettGunther]

@vis1xn967 cannot

[@vis1xn967]

@@JettGunther damn unlucky, thanks for replying tho

[@hr64dice]

Planning on moving in 3 years to Chiang Mai. We want a house not a condo what are the speculations for expats being able to own land? Thanks again and love your vids

[@PloyandJayinThailand]

As a foreigner, you cannot own land in Thailand. However, many ex-pats build houses all over Thailand with their Thai partners. Other “not that good options with high risks” are land leasing or building a Thai company that owns the property. Search for a reputable lawyer before making any moves.

[@garywright8846]

My advise is always Rent, plenty of long term rents about.

[@sammygoh]

Is there a lawyer i can hire to check out multiple condos I might be interested in, and find out the legality status of each of them before I make an offer? Are all condo 'free hold'? Thx for your videos. Any help much appreciated.

[@JettGunther]

Go to jettgunther.com and scroll down a bit

[@yanassi]

I would never buy a house if i can’t own the land it sits on. I wouldn’t need acres, but a small lot with a garden and perhaps a pool should be acceptable to thailand or philippine governments. Anything else is risking a lot of money. In fact not being able to own land, encourages people without substantial money to come to these countries.

[@rayodesoona750]

You are not a citizen of one of those countries. With the western currency having an advantage If there is no law to protect Inferior countries will be bullied

[@rodneybradbury2880]

Sooner they change the foreign ownership laws the better. Should be able to buy a house and land there not everyone wants to live in a condo. The Thia people can buy a house outright here in Australia no conditions.

[@JettGunther]

Many countries have regulations barring foreign ownership of property. Even New Zealand has very strict rules compared to Thailand.

[@singas2854]

That’s because the government in Australia don’t care who they sell to

[@heshboi]

No. Why should they become unliveable hellholes like western countries where foreign ownership contributes to ruined local generations. Thai laws should stay the same and make it extremely difficult for foreigners to come in and screw over the locals out of a basic human necessity like shelter.

[@Kryssthealien]

tbh, If they allowed foreigner to buy property freely, everyone living in Europe or US could afford an home and the really rich people (billionaire/millionaire) would by all block of flats or some big part of any city. The locals wouldn't be able to compete with the farang.

[@rayodesoona750]

@@Kryssthealien You are not a citizen of one of those countries. With the western currency having an advantage If there is no law to protect Inferior countries will be bullied.

[@alroberts193]

I was watching a vlog from a KZbinr based in BKK. He is originally from the U.S.. He mentioned in one of his blog that the condo price is different from locals & pricing is different for foreigners. Local condo pricing is a bit lower than a foreign buyer. Is this true?

[@leotravel85]

Great clarification, thanks

[@gum6y1]

You come across very well in these videos

[@alialtubaikh6449]

Thanks for the video and the information And about the land and houses you say is not allowed But in condominiums ok Is their condominium came in shape as a small house with front yard And can I buy condominium in compound for the more safe almost like attach houses

[@keithss67]

Good clip. Very informative

[@mangostickyrice555]

Thumbs up 👍 Jett

[@LettersNumbersNp3riods]

So if a property is listed for a 30 year leasehold at $500k, you pay the $500k all upfront? Or a portion of the $500k and the remainder (+ interest) over the term of the lease?

[@JettGunther]

Yes you pay upfront.

[@LettersNumbersNp3riods]

@ are there ways to finance the leasehold so that you don’t have to put all $500k down upfront?

[@JettGunther]

Unfortunately, it’s very hard for non-Thai citizens to get a mortgage in Thailand. It’s better to see financing in your home country.

[@jacksonj3082]

For owning a condo what is the purpose of the Blue Book? Ownership?

[@nuovovideo]

can be opened a company for rent, so that legally the company is right? so maybe 3 o 4 apartment for rent and a House to live?

[@calky360]

What exactly defines a condo with the whole 50/50 foreign ownership thing? Is it specific to the deed type of the property? Is it generally only newer developments that allow this?

[@JettGunther]

All legitimate condos that are in compliance with the Condominium Act allow for 49% of its total livable area to be purchased by foreigners. If it’s a well known condo by a reputable developer, it’s legit. Can have a lawyer double check if you want to be extra careful.

[@afcesuh6108]

Im beginning to like the idea of leasing the land .

[@alia22]

If one sells the house before 30 year lease is up, do the new owners get new 30 year lease? What happens to the house if thai land owner doesn't want to renew the lease after 30 years?

[@JettGunther]

They take over the lease contract for whatever duration is left in the lease

[@alia22]

@JettGunther Thank you. But what about the house if no renewal of land lease? Does the land owner then own the house?

[@JettGunther]

At the very end of the lease, the house belongs to whoever owns the land underneath it. But if you leased the land and built your own house on top of it, depending on the lease agreement, you may be required to demolish the house or the landowner may keep the house.

[@alia22]

@JettGunther Thank you again👍

[@EarthCamper]

Lease land put a movable/ trailer / tiny Home.....😊🙏

[@TheChadNapier]

The issue is most condos are treated like hotels….so not worth it. Plus, it’s farang priced, way over priced than what the condo is actually worth.

[@CryptoNerd91]

Didn't knew condo can be owned fully under certain circumstances. Thanks for sharing this. Does fully owning a condo directly lead to thai elite visa?

[@mixalis6168]

Know many Foreigners who own condos and Villas

[@JettGunther]

Not really. Very few developers offer that.

[@CryptoNerd91]

@@agentsmith2798 Thanks for sharing this

[@JettGunther]

@@agentsmith2798 Most condos do not participate in the Elite Visa Flexible One program that you're alluding to. The ones that do usually have trouble selling and are looking for ways to sweeten the deal. Yes buying a condo has more purpose for the LTR, provided that you're also able to meet the visa's other requirements, most notably the income requirements. Can see this video for more info kzbin.info/www/bejne/m6fVpnurhauLic0

[@maxianoacosta]

i gave a question here.. what if i buy a house with a thai person 49% mine and 51% to the thai person... but the thai person is older much older then me. then that thai person dies of old age. who gets that house from the thai person?. will i have 100% ownership after that? will the thai government get that 51%? will fall into the wrong greedy hands?

[@JettGunther]

Sorry this is best to discuss with a lawyer as there are many nuances : tally.so/r/3qLaYg

[@maxianoacosta]

@@JettGunther but just what you would think.. i dont own in thailand.. but just an idea of what could happen

[@rayodesoona750]

asThai. It will never fall into foreign hands. The house will belong to the children or heirs of the original owner. If he has no children or heirs will belong to the government

[@wagwon1297]

If I have a criminal record in Canada can I move to Thailand and buy a condo to live and work there? I’ve been looking at getting my elite visa the 20 year one I just want to know if I could because I would love to move there

[@JettGunther]

You're probably fine depending on the offense. The Elite Visa seems to be the most strict about criminal records.

[@waynedrummond6583]

Not in perpetuity, as the condo itself will fall over before then...

[@JettGunther]

Sure, but the point is it’s the exact same property right as owning a condo in one’s home country, and condos in all countries eventually fall.

[@waynedrummond6583]

Exactly. Land can be owned in perpetuity as it's likely always gonna be there. The word is incorrect as you have used it, without a dsiclaimer

[@JettGunther]

@waynedrummond6583 good point

[@waynedrummond6583]

@@JettGunther I'm nothing if not pedantic. 55555

[@leobarnet3662]

what happens if the amount of foreigner owned condos changes after say 5 years?

[@JettGunther]

It’s like musical chairs. If the foreign quota in a given condo is full, you will need to wait until one foreigner sells his unit, and then you can take up his quota.

[@stevejakab]

30 years is not a long lease. 150 years or 999 years is a long lease. What about the 30/30/30 = 90 year lease?

[@JettGunther]

30 years is the maximum lease duration that is recognizable by law. Once that term is up, you'll need to sign a new 30 year contract and have it registered again at the Land Office, and so on. When you hear about other lease terms such as the 30+30+30 term that is often marketed by developers, only the first 30 years is legally locked in and the remaining two are a "promise" that they will agree to renew for two more terms. On paper, the latter 30+30 are not enforceable by law. But in reality, there hasn't been an issue before where a reputable developer has tricked the buyer, as their reputation is on the line and it just isn't worth it for them to forego their promise. In summary, the first 30 years is truly safe and legal. For the remainder, it's up to the lessor to asses the risk for themselves.

[@p.armour4907]

Would it be possible as a foreigner to put the land under your thai child's name?

[@JettGunther]

Yes. It’s done a lot.

[@tonmoydasthomogno]

very nice video

[@kamma44]

Forget the real estate agent I'd go with a property lawyer! Agents are just to help look for property the legal work should always be done by a qualified lawyer.

[@JettGunther]

You'll want to have both. Lawyers are not going to find properties for you.

[@Woadyn]

I need advice. I have a thai woman I want to marry, she isnfeom rural thailand. I want to know if i build a house on her land. What happens in a divorce? I dont want to risk my life savings and move half a world away on a "trust me" basis.

[@JettGunther]

I’m not a lawyer so I can’t give a definitive answer but building a house on land owned by someone who just divorced you seems very disadvantageous. You can get in touch with my Thai lawyer here tally.so/r/3qLaYg In the meantime, have a look at this video as well kzbin.info/www/bejne/f5ylm4ZqrJJ9o8ksi=0fSMG1yhtCsIj6IU

[@rayodesoona750]

Foreigners do not have the right to own land and house in Thailand. Everything will belong to the Thai side. looking for a good partner. If your wife dies. Everything will go to your children and relatives who are Thai.

[@maxianoacosta]

owning a condo is not owning property.. i want to ouw a house with my own yard to plant vegetables and raise chickens

[@JettGunther]

Check out this video kzbin.info/www/bejne/q4C2mWh_ht-Xe5Ysi=vJYNVvOhmOIpYP5H

[@user-oe7gc5py4c]

better to rent luxury condo, no more villa ambition.

[@k9companion231]

NEVER BUY ALWAYS RENT!!! So many buy condos and have buyer’s remorse and are stuck. If you are a renter and dislike the roosters, mold in the building, noisy neighbors etc just pack and move. Purchase at your own risk and don’t complain about being shite on later. Good luck all!

[@Cybertokyofilms]

Better to own the condo to not snakes, spiders and scorpions in your place. Her high floor

[@osmo8281]

A government that cares for its people by keeping foreign ownership out. No western country has had a government caring for its people like that for a very very very long time.

[@JettGunther]

Seems like America is starting to care now.

[@julyseven808]

👍👍👍👍👍👍👍

[@retire14pattaya9]

Don't want a condo.

[@garywright8846]

All great, but wait until you sell, the bank will not release the money even with the proof you transfers it legally, then my Thai l partners” ( that’s a joke would not sign off until I gave them a massive pay off. DO NOT BUY, RENT.

[@JettGunther]

Resale transactions are conducted every day with no problem whatsoever, so what is the reason why the bank won't release the money in your example? Regarding a Thai partner, foreigners can 100% own condos without needing a Thai partner, so why did the person in your example do so using a Thai partner, and why give them such authority to begin with?

[@garywright8846]

@@JettGunther it was a villa, so land involved they had 51% B shares, non voting but came the time,they refused to sign, nothing to do with authority, they just refused, what can I do about that. They wanted 1 million THB each, in the end my lawyer got them to agree half even though I was paying them a six monthly dividend on a non profit making g business. Nothing is as it seems in Thailand, I still say DO NOT BUY RENT.

[@JettGunther]

It's unfortunate to hear that, but the reality is that foreigners are not allowed to own land in Thailand. Trying to circumvent this using a company is grey area at best and illegal at worst. This is a different issue that shouldn't be grouped in with legal property ownership in Thailand. On the other hand, foreigners who have owned property legally have always had their property rights fully protected in Thailand. See "How to Protect Your Property Ownership Rights in Thailand" kzbin.info/www/bejne/nZLHoZaNecd8r7csi=SAbPg-MHUEzPSMib

[@lightforce3642]

Keep Thailand for Thais. New Zealand sells land to anyone and has priced locals out of the market unless you want a massive mortgage for life

[@adotholland22]

expats cant buy land in thailand

[@EffectiveLearning-ek6vo]

I am an Indian I want to buy a condo in Thailand