Real estate in Thailand
In Thailand it is possible for a foreigner to own a condominium
freehold provided ownership does not exceed 49% of the total building;
it is not easily possible for a foreigner to own land but normal
practice is that property can be purchased then Land acquired under a 30
year lease option; Until recently it was considered by most legal
advisors that the ownership of land by a foreigner through a Thai
Limited Company was acceptable, although the Law clearly states that
foreigners cannot own land in Thailand. The Government has now made
clear that such ownership may be illegal. The legitimacy of such
ownership depends on the status of the Thai Shareholders who must be
shown to be active and financially participating shareholders.
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