Wealthy Foreigners Can Now Buy Land, Houses in Thailand

• 27 October 2022
• International News
• 2111 Views

The Thai government has agreed to allow foreigners to purchase houses and up to a rai of land if they can show an investment of at least 40 million baht.

The directive will be in effect for five years after it has been published in the Royal Gazette, which should be soon, the government said.

The proposal had been drawn up by the Interior Ministry in May with the aim of pulling in foreign investment and bringing foreigners with special expertise to Thailand.

The directive allowing the purchase of a rai of land and houses will apply to wealthy ex-pats, retirees, and digital nomads who want to base themselves in Thailand and those with special expertise.

To be eligible, foreign citizens will be required to prove they have invested at least 40 million baht in Thailand and can maintain the investment for a minimum of three years, starting from the day they submit an application for the purchase.

The draft says the following will be considered investments:

• Bonds issued by the Thai government, Bank of Thailand, state enterprises and the Finance Ministry.
• Shares of property funds, infrastructure funds and funds to rehabilitate debts of financial institutions.
• Shares of trusts for investment in property developments.
• Shares of legal entities that receive Board of Investment (BOI) privileges.
• Shares in businesses that are eligible for BOI privileges.

Foreigners applying for permission to purchase land and/or houses must produce certificates proving their investments.

The directive said foreigners can purchase land and/or houses in Bangkok, Pattaya and other municipal areas or zones marked out as residential areas in provinces. Foreigners cannot purchase land in military areas, the directive stipulated.

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