Can Foreigners own property in Phuket?
Foreigners can own property in Phuket, but there are some major limitations. Foreigners are allowed to own a condominium unit in a fully registered complex. They are also allowed to own a building. This is good news. The only caveat is that they cannot own the land on which the structures sit. That’s right; foreigners are not allowed to own land in Thailand. However, it is possible for a foreign individual to own land through a Thai limited company, or to lease the property up to 90 years. Each method has its pros and cons. Forming a limited Liability company is very popular, and usually only takes about four or five weeks to put together with the help of a good lawyer and accountant. This method must use Thai nominees and the purchasers interests are protected through a nominee agreement and pre-signed bought/sold certificates of the shares held in the nominee’s names. The advantage of this route is that the purchaser can achieve complete ownership of the land. The major disadvantage
