As we all know foreigners can only purchase a condo and put it under your name but buying land is prohibited, so that being said a lot of ex-pats who have a company are curious if it is safe to buy a property under a Thai company.
There is certainly a certain circumstance that purchasing land through a Thai company is completely legitimate – if the company in question is a legitimate business.
Having foreign shareholders in a Thai company may very well be a red flag for the local authorities, but it is not illegal. The same cannot be said for having Thai nominees though. Nominees that have absolutely no stake in the running of the company and whose names are solely on a ledger buried away at a lawyer’s office. If you have the latter, you are breaking the law by being the foreigner that set up a company using nominee names.
If you establish your business properly and ensure that it is run professionally, follows the letter of the law, and pays its company taxes, there is little to no chance that Thai authorities will view the company as illegal. Most Thai officials will be able to quickly see straight through any attempts to subvert the Thai company laws, but if you do it the right way, you will be clearing an easy path to land ownership under the name of your legitimate company.