6 Ways of Buying Luxury Houses in Thailand

There is no doubt that Thailand is a heavenly country and its warmth, glow and charm is so attractive that any foreigner will desire to make it their second home. Obviously, they dream of buying luxury houses here to spend a wonderful time of the year. Thousands of foreigners have chosen to reside in Thailand and the number is ever increasing.

However, owning a home in Thailand is not that easy if you are not a Thai citizen. Here are some options for you to choose from to own one of the Thailand houses for sale.

1. 30-Year Lease

As foreigners cannot own a land in Thailand as a freehold, taking out a lease of 30 years is one of the most preferred methods of acquiring a home through leasehold. You can apply to renew this type of lease twice so, it’s sometimes called 30+30+30 lease. You will have to understand the lease terms and pay a registration fee and stamp duty on a percentage of the rental fee for the entire lease.

Remember that the lease won’t be automatically renewed. You will have to reapply for another lease.

2. Invest in Property Ownership in Thailand

If you will invest money in Thailand, it will be considered favorably, so investing in property ownership is a good option. Any land acquisition should be according to procedures, conditions and rules set by the Ministerial Regulations. The investment should be at least 40 million Baht, which is equal to around $1,115,000 or £733,500.

3. Found a Limited Company that’s Owned by a Thai at Least Up to 51%

This is one of the most popular options among aspiring foreign homeowners. The business should have at least seven shareholders always.

Sometimes it’s even preferred while purchasing a luxury house in Thailand that the limited company being founded has a Thai ownership of at least 61% to stay safe from investigations while acquiring the land.

You will also have to consider the registration fee applied to limited companies, 5,500 Baht for every million Baht of capital.

4. Obtain a Usufruct Interest for Purchasing a House in Thailand

A usufruct interest is similar to lease and grants a legal right to control a real estate of another person. It can be renewed after a maximum 30-year period, and unlike a lease, it can even be transferred or sold to another person.

5. Become a Thai Citizen/Resident

Becoming a Thai citizen will make the process of purchasing a luxury house a lot easier and quicker, though not all foreigners may want to consider it, if they don’t want to live here permanently.

6. Receiving an Inheritance

If you inherit a land in Thailand, you may be entitled to convert it into a residential property. Section 87 of the Thailand Land Code states that only 1 Rai (equal to around 1,600 sq. meters) of land can be used for residential purposes.

So, if you are longing for owning a luxury Thai home, consider one of the options above and own your dream home in this amazing country.