How can I qualify for an LTR visa in Thailand by purchasing a house given that foreigners cannot own land?

Question

How is it possible to use home ownership to qualify for LTR visa when farangs cannot directly own land in Thailand?  I am interested in pursuing an LTR visa, wealthy pensioner category, under terms which allow for $40k+ in passive income and $250k+ in Thai property investment.  I wish to try to qualify by spending $250k+ on a freestanding house (not condo) to use as my primary residence (not for rental). The issue is how to purchase in my name in a way that qualifies for the LTR visa but still complies with laws against foreigners owning land.  Do I need to find a leasehold property?  How could it work for a freehold property?  If I create a business to own the property, must I be a minority business owner (49% max)?  If so, would I then have to spend $505k+ in the house to make my share worth $250k?

Ask Thailand · Answer

The post discusses the complexities of qualifying for an LTR visa in Thailand through home ownership, specifically for expats who want to spend over $250,000 on a freestanding house. The author is puzzled about how to do this legally, given the restrictions on foreign land ownership. Commenters provide insights, noting that foreigners can own condos, but houses must typically be leased. There are concerns about the reliability of long-term leases due to recent legal decisions that may affect renewals, and the need to comply with investment requirements and registration processes.

Matthew ********* · Answer

You really want to spend 250000 on a house.  That is not an investment.  That is a donation

Jason ********** · Answer

Careful with leasing land. Thai Supreme Court just ruled on some 30 year lease renewals for land in phuket. Even though the contracts had agreements for renewals they aren't enforceable and its upto the owner if they want to let you renew, which given the skyrocketing land prices in phuket they did not and the land was forfeit. So land lease renewals even with agreed on terms aren't safe past the first 30 years.

Graeme ****** · Answer

You can own a house in your name but you will need to lease the land. You can get a 30 year lease on the land anything more than that is upto the lease owner. If they don't give you an extension then you loose the house.

Pui ***** · Answer

I know the answer for sure, because I just asked BOI about this. Since foreigners cannot own land, only condos and houses that have a house sale apart from the land will qualify. Properties owned under a company structure do not qualify, even for the foreigner's shareholder portion of the company. The condo or house purchase only qualifies for the amount officially registered on the government sales agreement, not the actual purchase price, when there is a difference.

Brandon ************ · Answer

Easy, you can own condos.  You qualify with a condo, not a house.

I would not recommend trying to use an illegal nominee company to own land and then try to qualify for something with the BOI.  That's a great way to lose everything.

How can I qualify for an LTR visa in Thailand by purchasing a house given that foreigners cannot own land?

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