Quote:
Originally Posted by Stickit69r
Forget this article. It's some bitter expat painting a horrible picture of US and rosy picture of Thailand.
The fact of the matter is that in Thailand you can't own land. For most foreigners, it's their Thai wife who actually owns the house, or is majority shareholder of the corporation. There are some ways to get around some of these things and he mentions them (30 year leases, corporations, etc). But 30 year lease is for 30 years only, and the other ways may cease to be acceptable to Thai authorities when they arbitrarily decide so. Just look at the recent foreign bar ownership crackdown in Pattaya...
The big problem is that as Thailand develops, so do their rules and enforcement of rules. Thais believe land ownership to be very important and they are unlikely to just let foreigners own land anytime soon. As Thailand develops the rules become more stringent and so will enforcement. For an example of this, you can look at teaching requirements and how things have changed in the last 15 years in terms of work permits, degree requirements, documentation checks, selection process, etc... Or even daily life, look at traffic rules and acceptance and how drastically things have changed in the last 10 years... So while you may currently 'sort of' create a paper trail that gives you control of land, you never know when a Pattaya-like crack downs start coming...
I looked into it... I would love to buy some ocean front land around Cha-am or maybe Samui. I wouldn't feel comfortable with buying anything aside a condo... Only buy what you can easily walk away from...
If you want good info, read up on it at thaivisa.com