Many foreigners who come to Southeast Asia are interested in living in the area and in having a home, be it an apartment, a condominium or a house to live in.  Because home ownership is so common in other countries, many want to buy their own home or otherwise control the property.  We are not lawyers in each of the countries but we deal with lawyers and real estate professionals in all four countries and have helped others in the past.  In all cases, we recommend that you work with a real estate professional; that you do your due diligence and closely research the opportunity and that you secure a well trained legal professional to assist you.   Here is some guidance on laws and procedures throughout the area:

Thailand

Thailand follows the European or American system of land ownership and fee simple property ownership (the maximum level internationally) is available to Thai citizens.  According to Thai law, foreigners, in general are prohibited from owning freehold land in Thailand.  There are however exceptions to this.  Here are some of the ways in which foreigners in Thailand control property:

• Leasehold.  Although Thailand restricts foreign ownership of land, foreigners may hold total leasehold interest in Thai land and house leases.  Thailand lease law allows a 30-year maximum lease period, with the possibility of renewing the lease for additional 30-year periods.
• Condominiums – Thailand allows foreigners to own condominiums up to a total of 49% of the total in the building or development.
• Company ownership – Thailand registered companies with majority Thai ownership are able to buy land in Thailand.  In the past it has been common for foreign national to acquire an interest in Thai land as minority shareholders in a Thai majority company.
• Company ownership – Board of Investment – BOI sponsored companies – Foreign companies with BOI privileges can own or lease land and build a factory in Thailand.
• Investment – Thai property law has provisions that allow foreigners to buy and own a limited amount of land based on an investment of 40 million baht for five consecutive years, provided that the land is used for residential purposes.
• Thai spouse:  A Thai spouse of a foreigner may be allowed to buy land or property in Thailand in his or her own name.  Depending on the local authorities, the married couple may be asked to sign a declaration at the Land Department to state that the funds used are the separate property of the Thai spouse.   This can act to waive any claim on the land or property by the non-Thai spouse.  This could be problematic in a divorce case or in settlement of ownership at the death of the Thai spouse if the non-Thai spouse was to live longer.  A well drafter prenuptial agreement may assist in this but legally both spouses should understand the risks.

Cambodia  

Although Cambodian officials would never admit it, Cambodian land law has followed Thai land law in many respects in recent years.  As in Thailand, full ownership of land in Cambodia is restricted to Cambodians.  There are however the following ways to control or own law open to foreigners in Cambodia:

• Leasehold.  Although Cambodia restricts foreign ownership of land, foreigners may hold total interest in Cambodian land and house leases.  Cambodia lease law allows a 99-year maximum lease period.
• Condominiums – Cambodia allows foreigners to own condominiums although the specifics of this are still developing.
• Company ownership – Cambodia registered companies with majority Cambodian ownership are able to buy land in Cambodia.  In the past it has been common for foreign national to acquire an interest in Cambodian land as minority shareholders in a Cambodian majority company.
• Company ownership – The Cambodia Investment Board (CIB) and the Cambodia Development Council (CDC) sponsored companies – Foreign companies with CDC and CIB privileges can own or lease land and build a factory in Cambodia.
• Citizenship – A foreigner can become a Cambodian Citizen by payment of $50,000, which is paid to the government and noted as a donation.  
• Cambodian spouse:  A Cambodian spouse of a foreigner may be allowed to buy land or property in Cambodia in his or her own name. This could be problematic in a divorce case or in settlement of ownership at the death of the Thai spouse if the non-Thai spouse was to live longer.  A well drafter prenuptial agreement may assist in this but legally both spouses should understand the risks.  

Vietnam

Vietnam follows the Communist system of land ownership.  All land belongs to the people and is managed by the State on behalf of the people.  People receive land-use rights – not land ownership.  Law recognizes no fee simple title.  The maximum ownership rights for Vietnamese are leasehold of land, although buildings are improvements can be owned directly.  Foreigners are not allowed to own land.  Overseas Vietnamese who were born in Vietnam but later took up residence overseas can buy properties under gradually broadening criteria that are giving them property rights more akin to local Vietnamese.

• Starting in 2009, Foreigners who are legally residents in Vietnam on a longer-term basis are permitted to purchase apartments in certain developments under a 50-year leasehold.  The Vietnam National Assembly approved this law overwhelmingly in 2008 but the implementing regulations have yet to be published. Those eligible to buy apartments under the law include foreign firms purchasing housing for staff, and four categories of individuals.
• These include foreigners working at Vietnamese firms, foreigners married to Vietnamese, foreigners with special skills needed by Vietnam’s economy, and foreigners who have been awarded medals or other honors by the government.
• They can own a house but not the land on which it is built. They have the option to lease the land from the State.
• A foreign investor may also invest in Vietnamese real property by forming a joint venture company with a local partner, or a wholly foreign-owned company, or by forming a Build, Operate and Transfer (BOT) company or one of its variants.
• Foreigners who are residents in Vietnam can own dwelling houses but cannot sub-lease these dwellings. Foreign residents can also sell, donate, inherit, or give dwelling houses as gifts. But where they terminate their residence in Vietnam without disposal of their dwelling, 90 days after their departure from Vietnam their dwelling house certificates will automatically cease to be valid, and the Vietnamese State will manage and use their houses.
• One thing that separates real estate transactions in Vietnam from the rest of the world is it's done in pure gold.  It is very important to keep this in mind when looking for a property. The buyer must be aware of the prices and conversion rates for currency to gold at all times.

Laos

Laos follows the Communist form of land ownership.  All land belongs to the people and is controlled by the State.  Lao citizens are granted land use ownership rights but the system does not represent fee simple ownership of land.  Foreigners are prohibited from owning land.  Foreigners can lease land although generally the lease needs to be 30 years in length.  These are some of the provisions over land lease by foreigners:

The average duration of leases is not more than 30 years, but the term of the lease can be extended on a case-by-case basis:

• land leased for building residences: 30 years maximum with a possible extension
• land leased for investment and business activities, based on the scale of each project: 50 years maximum with a possible extension
• land leased as part of a specific economic zone: 75 years maximum
• land leased for diplomatic purposes and international organizations: 99 years maximum or as otherwise provided by agreements reached between the two governments.