Thailand Property Ownership Law

Foreign Ownership of Real Estate in Thailand

Foreigners can buy and hold Thai real estate through a variety of ownership structures and land titles. Several developers have set up company structures to provide for the ongoing management of their developments, and to secure ownership for individual buyers.

Ownership Structure

The three most common forms of ownership are leasehold, freehold through a condominium title, and freehold through acquisition by a Thai company.

Land Title

Property buyers also need to be aware of the different grades of land title in Thailand and ensure that the development they intend to buy holds the property on adequate title. CBRE staff can talk you through the merits of each existing land title – Chanote, Nor Sor 3 Gor, Sor Kor 1 and Por Bor Tor 5.

Funding

Some developers offer funding assistance but you need to be aware that the vast majority of purchases are on a 100% equity basis.

CBRE will support you, from your search for your ideal property or land through to the signature of purchase agreements and transfer of money. CBRE will also recommend legal advisers who can provide guidance on ownership structures and can check land title.

Foreign Ownership of Condominium Property

Under the 1991 Condominium Act, non-residents are allowed to purchase condominium units in Thailand. They must transfer the funds to pay for the unit from overseas, coming into Thailand as foreign currency. Foreign purchasers need to obtain a “Foreign Exchange Transaction Form” certificate for each payment from the beneficiary bank, and all these certificates must be shown to the Land Department in order to register the condominium.

When the money is sent to Thailand, the foreign purchaser needs to include in the transfer instructions that the purpose is to buy a condominium unit.

In addition, a foreigner who has Thai baht in his non-resident bank account or who has foreign currency bank account in Thailand may withdraw money from such account for the payment of the condominium unit. In this case, a withdrawal slip and bank certificate issued by the bank confirming that the funds were withdrawn from those accounts to buy a condominium. These documents will be required to be shown at the Land Department.

Foreigners with Thai spouses who are buying a condominium jointly must comply with foreign ownership regulations and transfer all funds to purchase a condominium from overseas.

Foreigners have Permanent Resident status in Thailand do not need to transfer funds from overseas.