Can U.S. citizens buy property in Thailand?
Buying property in Thailand as an American is a process similar to that for other foreigners. US citizens can buy property in Thailand, but there are certain limitations, particularly regarding land ownership. Generally, Americans cannot buy land in Thailand due to the restrictions of the Land Code Act. Instead, foreigners looking to purchase properties can buy condominiums or lease properties. Below is a discussion of each option for Americans buying property in Thailand:
- Buying condominiums: Americans are allowed to purchase condominium units in Thailand. However, they can only own 75% of the units in a building, and the remaining 25% must be owned by Thai nationals.
- Company ownership: Americans can buy property in Thailand through a Thai company. Americans can own 49% of a registered Thai company and purchase properties under the company’s name.
- Long-term lease agreements: Americans can lease properties, including land, instead of buying them. A long-term lease agreement in Thailand can last 30 to 90 years, allowing the lessee to introduce property developments to the leased property.
- Marrying a Thai national: Americans married to Thai nationals can purchase land under their Thai spouse’s name. Although the American spouses do not own the property outright, Thai law considers them statutory heirs.
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Frequently Asked Questions (FAQs)
Can Americans own property in Thailand?
Yes, Americans can own property in Thailand, but not land. Thai law prohibits Americans from registering land under their name. However, they are allowed to own apartments and condominiums in Thailand.
Can Americans buy a condo in Thailand?
Yes, Americans can buy a condo in Thailand, but only 75% of the total condominium units can be owned by Americans, and the remaining 25% must be owned by Thai citizens.
Are US citizens allowed to buy property in Bangkok?
Yes, US citizens are allowed to buy property in Bangkok, including apartments and condominium units.
Can Americans buy land in Thailand?
No, Americans cannot buy land in Thailand due to the restrictions of the Land Code Act.