Well, you are not the only one to think like that. Most travelers who visit Thailand have accepted that at least once they have thought of purchasing a property in Thailand, get a permanent residence, and then settle there forever. Such is the impact of Thailand. Of all, Chiang Mai and Bangkok have been their favorite locations.
However, if you are serious about purchasing and you have sufficient capital to invest, then you can;
Own a land
Though you may not be allowed to purchase land on your name, you can own it on a limited company’s name. In case you are going this way, then you must know that you can hold 49% shares of the company while 51% shares should be with a Thai national. Also, if you are married to a Thai you have the option of owning it on your spouse’s name. No matter what the way is, ensure that the information on the deed is accurate. Besides, the title must have an appropriate title.
Condos could be the one for you!
Since there’s certain restriction on buying land in Thailand, the majority of the foreigners prefer condos or apartment instead of buying a land. In fact, a foreigner is eligible to buy 100% of a condo. By far, this is the most uncomplicated way of owning a property in Thailand. Just that make sure that the condo is at least 51% Thai owned.
Buying a property as a part of your retirement
Please note that if you are thinking to buy a property for your retirement and later pass on to your children things can turn complicated. As then your heir must prove his/her qualification to own the property like you did when you first bought it. However, the only path to take here is to prepare a Last Will and Testament in or your home country and Thailand, including your Thai property. This way your heirs will be prevented from unnecessary stress and complications.
