Buying a House, Villa or an Apartment

Acquisition of Thai Property by Non-Thai Nationals

Thai laws prohibit foreigners from owning land in Thailand. However, the Thailand Condominium Act (2008) allows non-Thai nationals to acquire apartments in condominiums. If a foreign buyer does not reside in Thailand permanently, he or she will have to provide evidence that property is purchased for money brought from abroad. To this end, the buyer must submit a Foreign Exchange Transaction Form provided by a bank in Thailand.

Purchase of apartments in Thailand by non-Thai nationals

Non-Thai nationals are able to acquire apartments in condominiums under a freehold title within a foreign quota that limits the sale of property to 49% of the total number of units in the condominium block. They may acquire the rest of apartments too (i.e. 51% of the living units) under a leasehold or through a Thai company.

• Freehold means that property is fully owned with no restrictions. It is the easiest and most reliable way for a non-Thai national to own an apartment in Thailand.
• Leasehold means long-term leasing (for 30 years with two subsequent extensions for 30 years, thus totaling the property ownership time to 90 years). Nevertheless, this form of ownership has its advantages too. The price of leasehold apartments, as well as taxes and fees of registration in the Land Office (1.1%), are lower than the expenses under a freehold title. The owner may always re-register property to a Thai company under a leasehold.

Purchase of Houses, Villas, Land in Thailand by Non-Thai Nationals

A non-Thai national cannot own land in Thailand. There are several options for a foreigner to acquire a land plot or an area with buildings:

• Purchase of land through a Thai company. You can become a company owner, and your company can own land.
• You can acquire land under a leasehold for 30 years with two subsequent extensions for 30 years each, which totals to 90 years of ownership.

Various combinations of the above options are possible for the purchase of houses, villas and other buildings located on individual plots. You can register land under a leasehold, and register a house located there under a freehold title; you can also re-register property to a Thai company under a leasehold. It is important to find a reliable lawyer for registration of a Thai company and to include a number of provisions into the company’s constituent documents that will help you to be in full control of your company and to secure your property in a reliable fashion.

Our company will be your loyal assistant in all matters regarding the design and execution of real estate transactions.

You can contact us for a more detailed free consultation:

• E-mail: info@skypropertyphuket.com
• Phone:
  if you call from abroad: +66 88 450 5095
  if call from Thailand: 088 450 5095