Retirement in Thailand is the dream of many foreigners and mine too. I plan to settle down there in about two years and have been checking out the rules for acquiring property in the land of smiles.
The easiest solution for a foreigner (farang) is to buy a condominium. There is a percentage requirement as to the total number of farang and Thais in the condo complex.
Foreign land ownership is forbidden in Thailand. So, the best that a farang can do is to lease the land and own the house. The lease is good for 30 years and beyond that is anyones guess. Some web sites say you can get an additional 30 years and other sites say that there is no guarantee.
Another option is to incorporate yourself as some sort of company and lease the property back to yourself as an individual. This is in the gray area of Thai law and one that I wouldnt use. I have friends that have done this and so far it is Ok but I worry about the future.
Lastly is something called a usufruct. Googling this will probably give you more information and a better explanation than I can provide. All I know is that is the option that a lawyer recommended to me and I will pursue...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
