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Property in Thailand: Financing for Foreigners?

Transcript of the above video: 

As the title of this video suggests, we are discussing financing for foreigners of Thai property, so property in Thailand. For those who are unaware, there are major restrictions on ownership - especially of land in Thailand - by foreigners.  

So the thing as a rule of thumb to take away from this video is you are not going to be looking at this in the context of land ownership and financing thereof. But there are other instruments, and there are other types of property, most notably condominiums. Pursuant to the Thai Condominium Act it is possible for a foreign National to own a condo in Freehold Title or what we would call Fee Simple Absolute Title in the American common law vernacular i.e. an actual title deed where you own that condo. In Thai it's called Chanote, it's a Chanote Title Deed, and you can own your condo outright here in Thailand under the Thai Condominium Act. 

The question though posed by this video is are there financing options available for Foreigners? The answer is Yes, but you need to understand and have your expectations in alignment with the reality of the situation which is it is not going to be financing on the same terms as one is used to likely in their home country. And I can really only use the United States as sort of my touchstone for this analysis, but you are not going to be able to get the kind of financing of even like a condo here in Thailand that you would find in the USA. It's just not going to be available, and the terms of financing are going to be substantially different. 

Now that said, it is still possible to find financing, and terms are going to be based on the underlying facts in a given case. For those who are curious about what the terms are, again in most circumstances look we have dealt with folks that will deal with financing for foreigners here in Thailand. We may be able to assist folks in pointing them in the right direction with regard to that. We also may be able to assist in advising regarding due diligence, in fact we can assist in advising regarding due diligence regarding the property purchase, title conveyancing, as well as provide some review and assistance associated with things like financing agreements. So again, there are options available for financing for foreigners here in Thailand, but those options are going to look very, very different than the options you are going to be used to coming from the West. 

That said, again options for financing are available. Just be prepared for it to not necessarily look like the way financing options look in your home jurisdiction.