How can a foreigner acquire a land in Thailand?

Foreigners can not own land in their own name in Thailand. A Thai woman married to a foreigner can own property in her name. Foreigners, by consulting with a Thai lawyer, can form a company which can own land and property. The company issues shares, of which the foreigner owns 49% - and the foreigner is designated as the Director of the company.

The remaining 51% shares of the company are owned by (usually) six Thai persons (each Thai person should not own more than 19% of the shares). The Thai persons each give the foreigner completed, signed, but undated share transfer forms.

The only shareholder who can call a shareholders meeting is the company Director, and the Director is the only one who can approve any resolutions of the company shareholders. When the property is sold, the Director (and 49% share holder) dates the pre-signed share transfers forms, enables the transaction as Director, and the sale is completed.

There are, however, matters of tax reporting for Thai companies, and special rules for companies not engaged in commerce, that the buyer should be aware of – a good Thai lawyer is necessary.

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