Here is a summary of the current status of foreign real estate property ownership in Thailand:

•  A company can own property such as Land and a House (and hence the foreigner can buy land and a house via their company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.

•  The Thai wife of a foreigner can own property, in her name only . The same, of course, goes for a Thai husband , but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.

•  A foreigner can lease land for 30 years, with an option for another 30 years , according to articles in the press and as confirmed by every lawyer (If you live longer than 2 x 30 years, consider yourself lucky in another regard). This is referred to as the 2 x 30 ("two times thirty") option.

After the 1997 economic crisis and IMF intervention, plans were written up to amend the property laws so that a foreigner could lease in their individual name up to 1 rai of land for up to 30 years (1 rai = 1600 square meters / about a 40 meter x 40 meter plot or 1 acre = 2.5 rai), on which the foreigner could build a residential property.

However, we could recommend you a good lawyer to rely on if you don't have any good referrals.