Purchasing Condominium in Thailand.
Freehold Rights
Foreigners are allowed to hold freehold title to a condominium unit in their own name. This provides full ownership rights, including the ability to lease, mortgage, or otherwise manage the unit as they see fit.
In the event of inheritance, foreign heirs may inherit the condominium, provided that the foreign ownership quota (49%) is not exceeded. If this quota is surpassed due to inheritance, the property must be sold within one year.
Key Considerations Before Purchase
Before finalizing the purchase of a condominium, there are several important legal requirements to consider:
Foreign Ownership Quota: Foreigners may own up to 49% of the total sellable area of all units in a condominium project.
Fund Transfer Requirement: All funds used for the purchase must be transferred from outside of Thailand in foreign currency. A Foreign Exchange Transaction Form (FET), issued by a Thai bank, must be presented as proof of the transfer.
Title Due Diligence: It is highly recommended to conduct due diligence on the condominium’s title deed to ensure the project is legally compliant and free of encumbrances.
Developer Credibility: Choose projects from reputable developers with a track record of completing high-quality properties on time.
How can Vantier Legal help:
Title deed verification
Encumbrance check
Foreign ownership ratio check
Tax and government fees assessment before transferring
Sales and purchase agreement draft and review
Fund transfer advice
Land department Registration
other transaction-related advices
With its strategic location in Southeast Asia, Thailand continues to attract foreign investors and expatriates seeking opportunities in emerging markets. The country’s dynamic economy, along with the renowned charm of Thai people and its rich cultural heritage, has made it an increasingly popular destination for both business and long-term living.
However, for foreigners, finding a true home in Thailand can come with legal complexities—especially when it comes to real estate. Thai law is traditionally conservative in terms of land ownership, reserving the right to own land primarily for Thai nationals. As a result, owning land directly as a foreigner is one of the most challenging aspects of relocating to Thailand.
That’s why condominiums have become a preferred real estate option for foreigners. Condominium ownership offers a legal and straightforward path to owning property in Thailand without the complications tied to land ownership restrictions.
Who can buy a Condominium in Thailand?
Under Section 19 of the Condominium Act (2008), foreigners can legally own condominium units in freehold, provided they meet certain qualifications. Eligible buyers include:
Foreigners who have been granted residence in Thailand under immigration laws;
Foreign individuals or entities permitted entry under the Investment Promotion Act;
Juristic persons registered under Thai law (considered as foreign under ownership rules);
Foreigners or foreign entities who bring in foreign currency, withdraw funds from a non-resident Thai baht account, or use a foreign currency account to purchase the unit.
Additionally, buyers must enter Thailand under a valid visa and have no criminal record in the country.