KSPP > Legal > Property ownership

Buildings/Houses

In general, foreigners can own buildings and houses in Thailand in their own name as Thai real estate law places no nationality restrictions on ownership of houses or buildings in Thailand. However, a foreigner cannot purchase the land upon which the house is situated, which some investors can find unusual. Foreigners can enter into a sale and purchase agreement for the house and a separate lease for the land. Also, both the land and the house can be purchased through a Thai Limited Company.

Condominiums

Buying a condominium is the easiest way for foreigners to own property in Thailand. There are less nationality restrictions on condominium ownership than land ownership and it is possible for a foreigner to own a condo outright. Foreigners who do not have a Thailand residence must show proof that the funds for purchase of the condominium were brought from outside of Thailand. Non-Thais who have legal residence permits are not required to show evidence of funds coming from abroad.

Most foreigners purchase a condominium by showing evidence of an incoming remittance of foreign currency into their bank account from abroad. This is typically demonstrated by requesting the issuance of a certifying document from a bank in Thailand.

According to the Condominium Act, not more than 49% of a condominium block can be owned by foreigners. When buying a condominium unit, the condominium juristic person must supply a letter of guarantee stating that the condo unit falls within the 49% foreign ownership quota and a letter of guarantee showing that there are no outstanding fees for the unit to the condominium juristic person.
If the condominium building is already 49% foreigner owned, it does not necessarily mean that the foreigner cannot proceed with the purchase of a condominium unit. A Thai juristic person can purchase a condominium, with no restrictions, so if the foreigner is a director/shareholder of a Thai Limited Company, the condominium can be bought through the company.