Thailand Condominium Purchase 

Our lawyers specialize in supervising land and condominium purchases and leases in Thailand.

Real estate in Thailand is attractive for a variety of reasons. Owning a vacation home on Samui is the dream of many. Others hope to either spend their retirement in a leased condo on Phuket or make real estate purchases as a short or long term investment. While there are a variety of restrictions on foreign citizens leasing and owning property and houses or condos in Thailand, there are an equal variety of legal opportunities. Let our experienced staff guide you through the intricacies of the process so you can focus your attention on the finding the property, not dealing with red tape.

FAQ's:

1 ) How is a condominium defined by Thai Law?
2 ) What types of condominiums are available for foreigners to purchase?
3) What are the requirements for a foreign individual or organization to purchase a condominium in Thailand?
4 ) Are there are any restrictions to this ownership?
5 ) What is the most typical way for a foreigner to purchase a condominium in Thailand?
6 ) Can ownership of a condominium be inherited by a foreigner?
7 ) Is a lawyer necessary to purchase a condominium in Thailand?
8 ) Are condominium long-term leases available?

1) How is a Condominium defined by Thai law?
According to the Condominium Act B.E. 2522 (A.D. 1979), a condominium is defined as a building that can be have its separate portions sold to individuals or groups for personal property ownership.

2) What types of Condominiums are available for foreigners to purchase?
Certain condominium buildings allow for foreigners to purchase condos in free hold (fee simple). The condominium buildings are located in specified metropolitan areas and may have limits on the amount of units available for sale to foreigners.

3) What are the requirements for a foreign individual or organization to purchase a condominium in Thailand?
In order to purchase a condominium certain requirements must be met, for example: 1: A foreigner has permanent residence in Thailand in accordance with Thai Immigration Law, or 2: A foreigner is allowed into or resides in Thailand in accordance with Thai Investment Promotion Law, or 3: A foreign legal entity is in accordance with the Announcement of the Foreign Business Act BE 2542 (AD 1999), and has been granted an Investment Promotion Certificate in accordance with the Investment Promotion law, or 4: A foreigner or foreign legal entity has brought foreign currency into Thailand, or brings in Baht currency from the account of a person residing abroad, or uses foreign currency from their deposit account. This requirement is normally met by the presentation of a Dor Tor 3 form which is provided by the bank receiving an incoming remittance from abroad.

4) Are there any restrictions to this ownership?
In many areas of Thailand a foreigner or foreign legal entity can acquire up to, but not exceeding, 49% of the total floor area of the combined condominium units. However, more that 49% of ownership may be allowable in certain condominium buildings in Greater Bangkok and various other municipalities and districts according to Ministerial Regulations.

5) What is the most typical way for a foreigner to purchase a condominium in Thailand?
Most Foreigners purchase a condominium by showing evidence of an incoming remittance of foreign currency into their bank account from abroad as demonstrated by a valid Dor Tor 3 form from a Thai Bank.

6) Can ownership of a condominium be inherited by a foreigner?
Property ownership of a condominium can be inherited if the heir to ownership meets one of the original criteria for foreign ownership. Otherwise the condominium must be sold within one year of inheritance. Similarly, inheriting ownership of more than 49% of total condominium floor area must conform to certain regulations, namely that the condominium not occupy more than 5 rai, that it not exist outside of Greater Bangkok or other designated municipalities, and that it has at least 40 units in a building registered for at least one year.

7) Is a lawyer necessary to purchase a condominium in Thailand?
A lawyer is recommended to review the documents concerning the condominium and to supervise the transfer.

8) Are condominium long-term leases available?
Yes. Condominiums may be leased to foreigners for periods of up to 30 years and may have options to renew. Leases of greater than 3 years are required to be registered with the Land Department.

Related Topics
Land Purchase
Land Title Deeds and Taxes
Land Leases
Company Land Purchase