Transcript of the above video:

As the title of this video suggests, we are discussing the possibility of foreigners being able to purchase a house in Thailand. The reason I am doing this video is because I read this in a recent article from pattayamail.com, the article is titled: Thailand to Amend Immigration Rules to Lure 1 Million Wealthy Foreigners. This quote caught my attention, this excerpt. Quoting directly: "The Government top Economic Committee has ordered a review of how foreigners would be able to buy a house in addition to a condominium unit without the need to establish a Company with Thais as majority shareholders."

A couple of things here. First it is not a legally recognized method that foreigners can own property so long as it is done through a corporation. That is kind of a misnomer that is out there. In point of fact yes, there are people that use foreign minority shareholder companies in order to take title to certain types of Thai property. That said, you have got to be very careful with that because depending on the circumstances, it may not be a viable option; it may not be the legally proper way of dealing with that. Now it is circumstantially dependent. We know circumstances where things like a shop house may be owned in a Company name where for example, especially with married couples and things, you have got a Thai Company with minority farang, foreign shareholding on it and that's possible. But if it is just pretextual, companies can be dissolved and we have seen this happen. Companies can be dissolved and property can be escheated to the state. The law is pretty clear on that here; a foreign national is not allowed to own real estate.

That is not really the thrust of this video though. The thrust of this video is the Government's top economic committee, and that's the Center for Economic Situation Administration has ordered a review of how foreigners would be able to buy a house. That is far from a foregone conclusion. I suspect that their review will likely determine that that may not be a good idea or something to that effect. I think it is a long time off if ever that we will ever see foreigners be able to own real estate here in Thailand. In fact it may never happen. If I was betting I would bet on it never happening. That said, it could happen. Things can change, policies can change so we will certainly keep you updated on that as the situation evolves.