{"id":646368,"date":"2022-01-29T10:11:06","date_gmt":"2022-01-29T03:11:06","guid":{"rendered":"https:\/\/pattayaprestigeproperties.com\/buyers-guide\/"},"modified":"2025-01-29T10:13:02","modified_gmt":"2025-01-29T03:13:02","slug":"buyers-guide","status":"publish","type":"page","link":"https:\/\/pattayaprestigeproperties.com\/th\/buyers-guide\/","title":{"rendered":"Guide for Buying a Property in Pattaya, Thailand"},"content":{"rendered":"

Guide For Buying A Property
\nIn Pattaya, Thailand<\/h1>\n

\"\"<\/p>\n

Navigating the process of buying property in Thailand can be a bit perplexing, especially for foreigners. Many online sources provide conflicting information, making it difficult to find straightforward answers. The reality is that purchasing property in Thailand is more nuanced than a simple “yes” or “no.” However, with the right guidance and patience, you can successfully navigate the process. This guide will cover everything you need to know about buying property in Pattaya.<\/p>\n

Can I Live in Thailand Permanently?<\/a><\/h2>\n

It is possible for a foreigner to live permanently in Thailand. The official way would be to obtain\u00a0permanent residency<\/a>, but that\u2019s not without its difficulties as there are certain conditions which must be met. We covered some of the changes which made the process for retirees harder\u00a0here<\/a>\u00a0and generally you may want to liaise with one of\u00a0the top visa companies<\/a>\u00a0in Pattaya to make sure you approach the task appropriately. You can also explore retirement visas, or simply working with a non-immigrant visa and permit. There are certainly a number of ways of remaining in Thailand permanently, but prior planning and arranging documentation are needed.<\/p>\n

Is it Safe to Buy Property in Thailand?<\/a><\/h2>\n

The safety of purchasing property in Thailand largely depends on your intentions. Thai laws regulate property ownership, and while they are generally stable, it\u2019s crucial to follow the correct procedures. If you\u2019re buying a home for personal use, especially if you have family ties in Thailand, it can be a safe investment. However, if your goal is to rent or flip the property for profit, be aware of the inherent risks in any real estate investment. Consulting with a local expert can help you navigate these waters effectively.<\/p>\n

Does Buying Property in Thailand Help with Obtaining a Long-Term Visa?<\/a><\/h2>\n

There is such a thing as an\u00a0investment visa<\/a>, however, this isn\u2019t a long-term solution to your residency needs. You may still need to explore other options if you\u2019d like to remain permanently.<\/p>\n

How to Open a Bank Account in Thailand?<\/h2>\n

Whilst on the subject of buying property and moving money about Thailand, here is what you\u2019ll need when opening a bank in Thailand\u2014you\u2019ll be pleased to learn that the process is not much more complicated than what you\u2019d expect in your home country:<\/p>\n

\"\"
Passport<\/figcaption><\/figure>\n
\"\"
Work Permit (may not
\nbe needed for Bangkok
\nBank) or Certificate of
\nResidency.<\/figcaption><\/figure>\n
\"\"
Apartment or Condo
\nrental agreement,
\nYellow house book, or
\nother proof of address.<\/figcaption><\/figure>\n
\"\"
Valid ID (driving
\nlicense, etc)<\/figcaption><\/figure>\n
\"\"
Thai baht in cash to
\ndeposit (500 baht
\nminimum for some banks)<\/figcaption><\/figure>\n

Can I Own Land as a Foreigner?<\/h2>\n

\"\"<\/p>\n

Basic Thai Ownership Law dictates that land can only be owned by a Thai citizen or permanent residents (with an exception for BOI companies). As a consequence, 51% of all sellable units in a condominium are for Thai Nationals (Thai Quota) and 49% are for foreigners (Foreign Quota).<\/p>\n

When you purchase a condo, sold as part of the Foreign Quota, you are entering into a long-term freehold agreement, with full ownership in your name.<\/p>\n

Unfortunately, foreigners are unable to own land in Thailand (unless of course, you have managed to achieve your permanent resident status). As such the purchase of a plot of land, would need to be 51% registered with a Thai National or be purchased through a Thai company where a minimum of 51% of the shares should be held by Thai shareholders.<\/p>\n

However, this doesn\u2019t mean that you\u2019re unable to buy a house and live comfortably on said land. There are other ways around it, which we will get to in a moment, but first let\u2019s look at how land is measured in Thailand:<\/p>\n


\n+66(0)38-059-559
\n<\/a>
\n
\ninfo@pattayaprestigeproperties.com
\n<\/a>
\nThai Land Measurements<\/a><\/p>\n

In Thailand, the size of land is expressed in Rai, Ngan and Square Wah (or Talang Wah).<\/em><\/p>\n

One Wah = 2 metres, and thus one Square Wah (2X2 metres) = 4 square metres.<\/em><\/p>\n

One Rai, the biggest unit, is 4 Ngan, 400 SQW, or 1600 sqm<\/em><\/p>\n

My Child is of Thai Nationality, Can They Own Land?<\/a><\/p>\n

The answer is yes! There are no restrictions on age limit for Thai nationals owning land or property. However, whether or not the land departments accept is down to their discretion, so you should not think of having the land and property in your child\u2019s name as a guaranteed fix. It is, however, something worth exploring.<\/p>\n

Ownership Through Thai Company Is it Legal?<\/a><\/p>\n

If you are interested in investing in land in Thailand, you will have to invest in a majority Thai company (51% of shareholders of Thai Nationality). However, using a majority Thai company merely to get past Thai law restricting foreign land ownership is illegal.<\/p>\n

If you are a minority shareholder in a legitimate Thai company, then you may own real property in Thailand through that company. If you are the director of said company and have amicable relations with the Thai shareholders, then you essentially own the property through the control of the company. You may even decide in the future, with the consent of the other shareholders, to sell the company with the property asset.<\/p>\n

Can My Child Be a Shareholder of a Company Under the Age of 21?<\/a><\/p>\n

Technically speaking, anyone can be a shareholder in a company at any age. However, they cannot be registered as \u201cManaging Director\u201d until the age of 20.<\/p>\n

Can I Own Land as a Foreigner?<\/h2>\n

\"\"<\/p>\n

Typically speaking, houses tend to be cheaper than condominiums per living space SQM. There are reasons for this and of course, pros and cons to choosing a home over a condominium.<\/p>\n