Foreign land ownership in Thailand.
The 40 million THB investment
It is largely believed that foreigners in Thailand cannot own land. While this claim holds true for most people, there are two notable exceptions to this matter, namely inheriting a property as a statutory heir (the land must have been previously foreign-owned under a treaty) and making a significant investment in Thailand no smaller than 40M THB. In principle, foreign land ownership is thus possible but limited to wealthy individuals.
Acquisition of land by foreigners (as a merit of a 40M+ THB investment) still faces several limitations. The obtained property may be used for residential purposes only and its area is constrained to 1 rai (1600 m2).
Foreigners who wish to apply for permission to acquire land are required to submit several documents, specifically, Alien 4 Form accompanied by the following paperwork:
- A foreign identification card, certificate of residence in Thailand or a passport indicating nationality of the foreigner.
- Evidence of an investment in the business or activity that falls under Ministerial Regulation prescribing rules, procedures and conditions concerning the acquisition of land for residential purpose by foreigners B.E. 2545.
- Evidence of bringing a foreign currency into the Kingdom, such as withdrawal of the money from a foreign currency account or from a non-resident THB account for investment.
Other necessary documents constitute a map of the property, letter from the Ministry of Defence confirming the safety of the property and others. Detailed list of requirements can be found on this page.