Buying a Condominium

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.

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 who brings 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.

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.

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.

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.

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.

Please visit our condominiums for sale page.