TL;DR: Foreigners can own condos freehold (within 49% quota with foreign currency proof), lease land up to 30 years, or invest ≥40M THB under Section 96 bis for limited land ownership (≤1 rai with ministerial approval). Transfer costs include 2% transfer fee + SBT 3.3%/stamp duty 0.5% + withholding tax.
Paths for Foreigners
✅ Condo Freehold (Within Foreign Quota)
- Ownership limit: 49% of building's saleable area
- Requirements: Foreign currency remittance with FETF documentation
- Rights: Full ownership, voting rights, can sell to other foreigners
- Best for: Investors seeking straightforward ownership
⚠️ House/Land Alternatives
Direct land ownership generally prohibited, but legal alternatives exist:
Long-Term Lease (Most Common)
- Maximum term: 30 years
- Registration: Required at Land Office
- Renewal: Not automatic; requires new agreement
- Cost: Registration fee ~1% of total lease value
Section 96 bis Investment Route (Limited Cases)
- Investment threshold: ≥40M THB investment
- Land limit: ≤1 rai (1,600 sqm)
- Approval: Ministerial approval required
- Purpose: Residential use only
Official sources:
Steps at a Glance
1. Reservation & Agreement
- Property reservation with deposit
- Negotiate sale terms and conditions
- Draft sale & purchase agreement
- Set completion timeline
2. Due Diligence Period
- Title search at Land Office
- Encumbrance checks for debts/liens
- Building permits verification (houses)
- Foreign quota verification (condos)
- Juristic person clearance (condos)
3. Financing & Currency
- Foreign currency transfer (if >USD 50k for condos) (international money transfer guide)
- FETF documentation (Foreign Exchange Transaction Form) (banking requirements for property)
- Bank credit advice showing foreign source
- Purchase funds in Thai bank account (how to open Thai bank account)
4. Land Office Transfer
- Transfer fee: 2% of assessed value
- SBT or stamp duty: 3.3% or 0.5% respectively
- Withholding tax: 1% (company) or progressive (individual)
- Title deed transferred to buyer name
5. Post-Transfer Setup
- Utilities transfer to new owner
- Building management notification (condos)
- Insurance setup for property protection
- Tax obligations understanding
Due Diligence Checklist
Title & Encumbrances
- Title deed verification at Land Office
- Ownership history review for irregularities
- Encumbrance certificate showing no debts/liens
- Survey confirmation of boundaries and area
- Right-of-way verification for access roads
Condo-Specific Checks
- Foreign quota letter from juristic person
- Building permit and completion certificate
- Juristic person arrears clearance
- Common area ownership percentage
- House rules and restrictions review
House/Land Specifics
- Building permits for all structures
- EIA compliance if applicable
- Servitude rights affecting the property
- Utility easements and access rights
- Zoning compliance verification
Closing Costs Overview
Transfer Fee
Rate: 2% of assessed value (Land Office/MOI valuation) Paid by: Typically split buyer/seller (negotiable) Example: 5M THB assessed value = 100,000 THB transfer fee
Specific Business Tax (SBT) or Stamp Duty
SBT: 3.3% when applicable (properties held <5 years by companies) Stamp duty: 0.5% when SBT not applicable Assessment: On assessed or sale value (whichever higher)
Official source: Revenue Department SBT and Stamp Duty
Withholding Tax
Company sellers: 1% of assessed/sale value Individual sellers: Progressive rates (0-35%) on assessed/sale value Collection: Deducted at transfer by buyer for Revenue Department
Note: Withholding tax calculations can be complex. Consult the Revenue Department or qualified legal advisors for specific situations.
Worked Example (5M THB Condo)
- Purchase price: 5,000,000 THB
- Assessed value: 4,500,000 THB (Land Office valuation)
- Transfer fee (2%): 90,000 THB
- Stamp duty (0.5%): 25,000 THB (on higher value: 5M)
- Withholding tax: Varies by seller type
- Total buyer costs: ~115,000 THB + withholding tax
Common Pitfalls
Insufficient Due Diligence
Risk: Hidden debts, illegal structures, quota violations Solution: Comprehensive Land Office and juristic person checks
Currency Documentation Gaps
Risk: Cannot register condo ownership without proper FETF Solution: Ensure bank properly documents foreign currency source (banking guide for large transfers)
Rushed Completion
Risk: Missing critical checks or proper documentation Solution: Allow adequate time for thorough verification
Where to Verify
Official Sources
- Department of Lands English Portal: Title searches, registration procedures
- Revenue Department English: Tax rates, SBT, stamp duty, withholding tax
- Local Land Office: Province-specific procedures and requirements
Professional Support
For significant transactions, engage qualified legal counsel experienced in foreign property transactions and local Land Office procedures.
Related Guides
- Condo Ownership - Detailed foreign quota and juristic person rules
- Fees & Taxes - Complete transfer cost breakdown with examples
- Due Diligence - Comprehensive verification checklist
- Long-Term Leases - Alternative to ownership for houses/land
Need purchase assistance? Our team connects you with experienced lawyers, agents, and advisors who understand foreign ownership rules and can guide you through the complete process. Contact us for professional support.