Can Foreigners Buy a Condo in Thailand? The 49% Quota

Yes, a foreigner can own a condo in Thailand, as long as foreigners together stay within 49% of the building's total unit area. You show foreign currency brought into Thailand, or withdrawn from a non-resident baht account or a foreign-currency account, for at least the unit price. Land is a different story and stays closed.

A condo is the open door for foreign buyers, and it comes down to two things: foreigners together may hold 49% of a building’s total unit area, and the money must come from abroad for the full price. Land follows different rules.

The 49% quota

Foreigners and juristic persons treated as foreign may together hold ownership of units up to 49% of the total unit area of each condominium building. The share is measured against the total area at the time the condominium was applied to be registered.

ระบุไว้ในมาตรา ๑๙ ถือกรรมสิทธิ์ในห้องชุดได้เมื่อรวมกันแล้วต้องไม่เกินอัตราร้อยละสี่สิบเก้าของ

…as specified in section 19 may together hold ownership of units not exceeding forty-nine percent of ….

Condominium Act B.E. 2522, section 19 bis

On a transfer to a foreigner, the person transferring tells the official the names of the foreign owners and the share of unit area they already hold. The official registers the transfer when the papers are correct and the foreign share stays within the rate set in section 19 bis.

Who can buy

A foreigner permitted to reside in Thailand under the immigration law may hold a unit. The transferee shows proof of that permission at the Land Office. A second route runs through the money: you may hold a unit by bringing foreign currency into Thailand, or by withdrawing from a baht account of a person resident abroad or a foreign-currency deposit account.

หรือถอนเงินจากบัญชีเงินฝากเงินตราต่างประเทศในจํานวนไม่น้อยกว่าค่าห้องชุดที่จะซื้อ

…or withdrawal from a foreign-currency deposit account, in an amount not less than the price of the unit to be bought.

Condominium Act B.E. 2522, section 19 ter (5)

Proving the foreign money

Anyone buying, selling, depositing or withdrawing foreign currency with an authorised bank must tell the bank the details of the transaction. At USD 200,000 or more the bank asks for supporting documents, unless it has already completed its Know Your Business check on you. Afterwards the bank issues you evidence of the transaction, so keep it for the Land Office.

Below USD 200,000 you state the purpose and the bank asks for no documents. For the full buying process, see buying a condo in Thailand as a foreigner, and for the transfer side, the send money to Thailand page.

Land Office fees

The Land Office charges 2% of the appraised value, minimum THB 20, to register a transfer of a condominium unit. A seller who sells within five years pays specific business tax of 3.3%. Stamp duty is THB 1 per THB 200, and it is not charged where the person receiving the payment pays specific business tax.

Leasehold instead

The Land Office does not register a lease longer than 30 years, and a longer lease is cut to 30 years. A lease of more than 3 years must be in writing and registered with the competent official. A separate Act on leases of immovable property for commerce and industry covers leases of more than 30 and up to 50 years.

Land stays closed

A foreigner may acquire land in Thailand only under a treaty that gives the right to own immovable property. Thailand has made no such treaty with any country since the 1970 treaty ended.

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Not confirmed: Which bank paper a Land Office accepts as proof of the foreign money: the Act names none, and the bank issues evidence of the transaction. Whether a visa holder counts under the residence category or only through the foreign-money route. Ask the Land Office before paying a deposit.

General information checked against the sources listed above, not financial or tax advice for your situation. Rules and fees change; confirm with your bank, the Revenue Department or a licensed adviser before you act. See how guides are checked.

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