Guides
Freehold condominium ownership for foreign buyers
A condominium unit is the one kind of Thai property a foreigner can own outright, in their own name. The unit is registered at the Land Office, and you can sell it, let it or leave it to your heirs.
Two rules in the Condominium Act matter most to a foreign buyer: the foreign quota for the building, and how the purchase money reaches Thailand.
The 49% foreign quota
Foreign ownership in a condominium building, added together, may not be more than 49% of the total floor area of all the units in the building. The rest of the floor area is held by Thai owners. When the foreign quota is full, a unit cannot be registered in a foreigner's name.
Bringing the money in from abroad
To register a unit in your name you must show that the purchase money came from outside Thailand in a foreign currency, or was paid from a non-resident baht account or a foreign currency account held in Thailand. The amount must be at least the purchase price.
For transfers of US$50,000 or more, your Thai bank issues a Foreign Exchange Transaction (FET) form. For smaller amounts it issues a credit advice. The Land Office asks for one of these as proof the money came from abroad. Check the details with your bank before you send money. State the purpose of the transfer as the purchase of a condominium unit.
Frequently asked questions
What is the foreign quota in a condominium?
Foreign ownership in a condominium building, added together, may not be more than 49% of the total floor area of all the units in the building.
How must I pay for a freehold condominium?
The money must come from outside Thailand in a foreign currency, or be paid from a non-resident baht account or a foreign currency account in Thailand. The amount must be at least the purchase price.
What is an FET form?
A Foreign Exchange Transaction form is a document issued by the Thai bank that receives your money from abroad. For transfers of US$50,000 or more, your Thai bank issues a Foreign Exchange Transaction (FET) form. For smaller amounts it issues a credit advice. The Land Office asks for one of these as proof the money came from abroad. Check the details with your bank before you send money.
What happens if the foreign quota is full?
A unit cannot be registered in a foreigner's name once the foreign quota is full. Some developers offer a registered lease of a unit instead; our 30 year leasehold guide explains how a lease works.
This guide is general information, not legal advice. Take independent legal advice before you buy.