Can foreigners buy land in Phuket?

Question

Accepted Answer

Yes, foreigners are generally allowed to buy land in Phuket, Thailand, under certain conditions and restrictions. The laws regarding land ownership by foreigners in Thailand are complex and subject to specific regulations. However, there are legal mechanisms that allow foreigners to purchase and own land in Phuket. Here are a few important points to consider:

Condominiums. Foreigners can buy condominium units in Phuket under certain conditions. The Condominium Act allows non-Thai nationals to own up to 49% of the total floor area of a condominium project.
Leasehold Agreements. Foreigners can also acquire land through leasehold agreements. A leasehold agreement allows a foreigner to lease the land for a maximum period of 30 years, with the option to renew the lease for two additional periods of 30 years each.
Thai Company Ownership. Another common method is to set up a Thai company in which the majority of the shares are owned by Thai nationals. The company can then purchase land in Phuket. It's important to note that this method requires careful consideration and legal advice, as it must comply with Thai laws and regulations.
Board of Investment (BOI) Promotion. Foreigners investing in certain promoted industries under the BOI may be granted permission to own land in Thailand. This typically applies to specific industries such as tourism, technology, or manufacturing, and there are specific requirements and criteria that need to be met.

Land for sale in Phuket