In short, foreign nationals can own land in Thailand with only a few exceptions
Long text from https://www.thailandlawonline.com/thai-real-estate-law
Land ownership in Thailand is regulated by the Land Code Act and under Thai land laws only Thai nationals may own land or have a confirmed right to own land. Foreigners are not allowed to own land unless there is a treaty or exemption permitting the foreigner to own land in Thailand (Section 86). Thailand currently has no treaty with any country that would allow a foreigner to purchase land in Thailand. Any alien violating the restrictions on foreign property ownership may be fined and/or imprisoned for up to 2 years (Land Code Act Section 111). Only a foreigner who qualifies under Section 96 bis of the Land Code Act may own up to 1600 square meters (or 1 Rai) of land for residential purposes in certain areas. Foreign land ownership under Section 96bis requires, among other things, an investment of no less than 40 million baht in BOI-approved Thai bonds and assets, which must benefit the Thai economy and require the approval of the Minister of Interior. When foreign land ownership is granted under this exemption, it is limited to the life of the person who has been granted the right to own the land (non-transferable, non-inheritable). Permission to own property abroad in accordance with Section 96 bis GGB is rarely applied for or granted.
Foreign companies conducting business in Thailand may be granted special privileges and exemptions for land ownership by the Board of Investment under Section 27 of the Investment Promotion Act and under Section 44 of the Industrial Estate Authority of Thailand Act or Section for the duration of their business operations in Thailand 65 of the Mineral Oil Act. This exemption requires large investments and is limited to the duration of their business.
Inheritance of real estate (by foreigners)
Under Section 93 of the Land Code Act, a foreigner who acquires land as a legal heir may have title to that land with the permission of the Home Secretary. Note that Section 93 Land Code Act only applies to foreign land ownership under a treaty and not, for example, foreigners inheriting land from their Thai spouse. A foreign spouse of a Thai national can inherit land but cannot register ownership of land and must sell the land within one year from the date of acquisition.
- The Civil code book IV Property.
- The “Thailand Land Code Act”.
- The Civil code book III ‘Specific Contracts’.
- The “Thailand Condominium Act”.