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ResourcesThailand Real Estate & Property LawJurisprudenceCan a Thai Company I Work For Own My Home?

Can a Thai Company I Work For Own My Home?

Transcript of the above video:

As the title of this video suggests, we are discussing property ownership of a Thai Corporation that someone may be working for.

Now I could see this occurring in two different contexts. This is where perhaps a Thai Company owns the place where an actual employee may reside. We see this a fair bit actually; it happens a lot with folks with so-called Expat Packages who are working in Thailand for a major corporation. That Corporation may actually own a condo or multiple condos and one of the benefits of working in that Corporation is being able to stay in this condo rent free. I have seen a number of situations like that in the past. Yeah that is certainly possible. 

More to the point for this video, we are more thinking about it from the standpoint of an SME Company where the foreign national is the primary operator if you will within the Company. The short answer is under an Amity setup this is under the US-Thai Treaty of Amity which allows Americans to own their companies virtually 100%, it is probably unlikely in that set of circumstances because the Amity Company is specifically barred from owning land so if it is going to be real estate like homeownership, like a house, an Amity Company is going to be very useful for that. It is a little bit of a gray area although I think it is pretty clear that an Amity Company I think could go ahead and own a condo, although you would have to deal with all the rules and regulations regarding foreign Chanote, foreign freehold title and really anybody that wants to get into that it is a good idea to go ahead and contact a legal professional to get some insight into that. 

A Thai Company which is 51% or more Thai owned is not subject to the restrictions of the Foreign Business Act. In theory it could own the home of a person that was working in the Company. Now you need to be careful with this because the Foreign Business Act and there are other rules in Thailand regarding home ownership or real estate ownership of foreign nationals so while it may be possible depending on the specific facts of a given case, it is a really good idea to contact a legal professional to get some insight and guidance into how best to set up the formalities of that because you don't want to get on the wrong side of the rules against foreign land ownership and end up in a situation where you could actually end up losing the land or be deemed to be operating illegally here in the Kingdom of Thailand.