Foreign Ownership Guide

Foreigners can own condominium units outright, in their own name, under the Condominium Act. The only limit is that foreigners together may hold no more than 49% of the total saleable floor area of a building. Units within that 49% are sold as foreign freehold; the rest belong to the Thai quota.

Before you reserve, we confirm with the developer or the juristic person how much of the foreign quota remains. In popular projects it can run out, so quota status is checked first, not last.

Foreigners cannot own land in their own name. A house or villa is therefore held in one of two ways: a registered leasehold of the land (up to 30 years, usually with renewal options written into the contract) while the building itself can be owned outright; or through a Thai limited company that owns the land, which must be a genuine operating company with Thai majority shareholders.

We explain both routes honestly, including their limits. Nominee structures that exist only to hold land are not lawful and we do not arrange them.

Can own: condominium units within the foreign quota; buildings (as distinct from land); leasehold rights registered at the Land Office; shares in a Thai company.

Cannot own: land in a personal name, except in narrow cases such as a BOI-approved investment of at least 40 million THB in specified bonds or funds.

At transfer the Land Office collects: a transfer fee of 2% of the appraised value; specific business tax of 3.3% if the seller has held the property for less than five years (otherwise stamp duty of 0.5%); and withholding tax, calculated on a sliding scale for individual sellers or at 1% for company sellers.

Who pays what is negotiated and written into the contract; for new developments the split is usually set by the developer. We calculate the exact figures for your purchase before you commit.

To register a condominium in a foreign name, the purchase price must be transferred into Thailand in foreign currency and converted locally. For each inbound transfer of 50,000 USD or more, the receiving bank issues a Foreign Exchange Transaction (FET) form; smaller transfers receive a credit advice with the same information.

The transfer should state the purpose (for example, purchase of condominium unit X in project Y) and be made in the buyer's name. We provide exact wording for your bank so the paperwork is right the first time.

Typically: a passport valid for at least six months; FET forms or credit advices; the developer's foreign-quota confirmation letter and debt-free letter from the juristic person for resale units; the signed sale agreement; and a power of attorney if you will not attend the Land Office in person.

Reservation and quota check: one to three days. Contract review and signing: one to two weeks. Payment and FET documentation: depends on your bank, usually within a week per transfer. Transfer at the Land Office: a single appointment, for completed properties often within four to six weeks of signing. Off-plan purchases follow the developer's construction schedule and payment plan.