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BUYING PROPERTY IN THAILAND
How To Buy Property In Thailand
Our recommended option! Foreigners, aliens, or farangs, can form a Limited Company and register the land as owned by the company. The foreigner can personally own maximum 49% of the company shares, and the remaining 51% must be in the names of Thai nationals (39% - 61% at the time of registration of the property; can be changed after).
The foreigner is named sole executive director in the company's Articles of Association, and the Thai shareholder nominees all sign undated Share Transfer Contracts at the time the company is being registered. This effectively puts 100% control of the company and its assets in the hands of the foreign director.
The Thai shareholders have absolutely no executive power within the company, nor need they be consulted over any issues at any time. They can also be replaced anytime at the director's wishes. (A Thai Limited Company must have minimum 7 shareholders - for example, one foreigner and six Thais). Setting up such a company takes about half an hour and your signature about 30 times.
Limited Companies are owned by the shareholders, not their directors, the foreigners. As such, Limited Companies are Thai juristic entities subject to Thai commercial law, and any changes to legislation must apply to all Limited Companies, not only those whose directors happen to be foreigners. Thai law, both commercial and personal, is not so very different from legislation in most other countries, and it applies to all juristic entities in Thailand, foreign or Thai.