Issues to consider before purchasing Phuket land and Phuket condos for sale
Are you interested in purchasing Phuket land for sale, or are you tempted to invest in one of the many tempting Phuket condos for sale ? Phuket Real Estate Investment can advise on different aspects of owning property in Thailand that are of particular relevance to foreign potential purchasers.

When considering buying Phuket condos for sale or indeed any other property in Phuket, the first thing to do is to obtain clear information about Thai laws on owning property in Thailand. For example, although foreigners are not allowed to own land, they can own buildings distinct from the land, such as condominiums or villas.


Foreigners may own any of the following items:
•           One or several condominiums
•           A building entity irrespective of the land
•           A leasehold of up to 30 years (renewable 2 times) for all types of titled land or buildings.

Phuket condos

Foreigners cannot, however, own land, nor can they own more than 49% of a Thai company. This clearly has implications for any foreigner wishing to buy Phuket land for sale. However, a Thai Limited Company may purchase land, as a juridical person. This company must therefore be authorized to own land in accordance with its legal structure and description of business activity. In addition, the company must carry out its business correctly, with annual accounts and audit being prepared and taxes paid on time.