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Buying a Condo in Thailand as a Foreigner

The foreign quota, money-transfer rules, and the Land Department process, step by step

Updated June 28, 2026·6 picks

Thailand is one of the easiest countries in Southeast Asia for a foreigner to buy real estate — as long as it's a condominium unit. Ownership is freehold, in your own name, with no visa or work permit requirement. But the process has a few non-negotiable steps: the building's foreign ownership quota must have room, the purchase money must arrive from abroad in the right form, and the transfer must be registered at the Land Department. Here's how each step actually works.

In this guide

  1. 1The 49% Foreign Ownership Quota
  2. 2Transferring the Purchase Money from Abroad
  3. 3Reservation Deposit and Sale & Purchase Agreement
  4. 4Ownership Transfer at the Land Department
  5. 5Taxes and Fees Due at Transfer
  6. 6After You Buy: Common Fees and the Juristic Person
1

The 49% Foreign Ownership Quota

Thai law caps foreign ownership at 49% of the total saleable floor area in any condominium building — the remaining 51% must be held by Thai nationals or Thai entities. Before you make an offer, ask the developer or juristic person for the building's current foreign-quota status; popular buildings in prime areas can fill their quota, in which case you'd need a Thai-quota unit (bought via a Thai company or on behalf of a Thai co-owner) or another building.

  • Quota applies per building, not city-wide or nationwide
  • Ask for written confirmation of remaining quota before paying a deposit
  • Land (and houses built on land) are not covered by this rule — only condominium units
  • Freehold ownership within quota carries no extra restriction on resale to another foreigner
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2

Transferring the Purchase Money from Abroad

To register foreign ownership, the full purchase amount must enter Thailand from overseas in foreign currency and be converted to Thai baht by a Thai bank — paying with baht already inside Thailand does not qualify. The receiving bank issues proof of the inward remittance (a Foreign Exchange Transaction form, or an equivalent credit confirmation letter for smaller amounts), and the purpose field should reference the condo purchase. Keep every document; the Land Department will ask for it on transfer day.

  • Money must originate outside Thailand and be converted to THB by a Thai bank
  • The bank's transfer document should reference the specific condo purchase
  • Ask your bank in advance which paperwork it issues for the transfer amount
  • Paying via a foreign credit card or an in-Thailand baht account does not satisfy this rule
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3

Reservation Deposit and Sale & Purchase Agreement

Once you've chosen a unit, a reservation deposit (often a small fixed sum) holds it while the Sale and Purchase Agreement (SPA) is drafted. Read the SPA carefully before signing: it should specify the exact unit, price, payment schedule, transfer date, what happens if the foreign quota fills before transfer, and the penalty if either party withdraws. For off-plan units, the SPA also sets out the construction payment schedule.

  • Reservation deposits are typically refundable only under specific SPA conditions
  • Confirm the foreign-quota status is locked in writing before signing
  • Have a Thai-property lawyer review the SPA — it's the enforceable document, not the listing
  • Off-plan purchases add a staged construction payment schedule to the standard SPA
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4

Ownership Transfer at the Land Department

Transfer day happens at the local Land Department office covering the condo's district. Buyer and seller (or authorized representatives with a power of attorney) attend together, present the title deed, ID/passport, and proof of the foreign currency transfer, and pay the applicable taxes and fees. The officer verifies the foreign quota one final time, registers the new owner, and issues an updated title deed (chanote) in your name — the moment your ownership becomes legally effective.

  • Both parties (or authorized proxies) typically need to attend in person
  • Bring originals plus copies of every document — Thai officials work from paper
  • The officer checks the foreign quota again at this final stage
  • You leave with an updated title deed (chanote) — the only proof of ownership that matters
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5

Taxes and Fees Due at Transfer

Four charges typically apply at the Land Department: a transfer fee, specific business tax or stamp duty (whichever applies, based on how long the seller has owned the unit), and withholding tax on the seller's side. Who pays which portion is negotiable and should be agreed in the SPA before transfer day — in practice it's often split, or the buyer covers the transfer fee while the seller covers the rest. Rates and any temporary stimulus reductions change from time to time, so confirm current figures before budgeting.

  • Transfer fee, specific business tax / stamp duty, and withholding tax are the core components
  • Which of specific business tax or stamp duty applies depends on the seller's holding period
  • Split of who pays what is a negotiation point, not a fixed rule
  • Check BaanMe's Transfer Fee Calculator for a same-day estimate
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6

After You Buy: Common Fees and the Juristic Person

Every condo building is managed by a juristic person (the legal entity representing all owners), funded by a monthly or annual common-area fee plus a one-off sinking fund contribution at purchase. These cover building insurance, security, cleaning, and maintenance of shared facilities. As a foreign owner you have the same voting rights at owners' meetings as any Thai co-owner — it's worth attending at least the annual general meeting to understand how the building is run and how healthy its sinking fund is.

  • Monthly/annual common-area fee plus a one-off sinking fund payment at purchase
  • Covers building insurance, security, cleaning, and shared-facility upkeep
  • Foreign owners have equal voting rights at owners' meetings
  • Attend the AGM to check the sinking fund balance and any planned special assessments
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Frequently Asked Questions

Do I need a Foreign Exchange Transaction (FET) form to buy a condo?

You need proof that the purchase money was transferred from abroad and converted to Thai baht by a Thai bank. For larger transfers the bank issues a formal FET form; smaller amounts get an equivalent credit confirmation letter. Either document is what the Land Department checks on transfer day — ask your bank in advance which one applies to your transfer.

Can foreigners get a mortgage to buy a condo in Thailand?

It's harder than for Thai nationals. Most Thai banks lend only to residents with Thai income, though a small number of Thai and international banks offer foreign-buyer mortgages, typically with a lower loan-to-value ratio and higher rates than a Thai borrower would get. Many foreign buyers instead finance the purchase through savings, an overseas mortgage against assets at home, or a developer payment plan for off-plan units.

Can a foreigner own land or a house in Thailand?

Not directly. Foreigners cannot hold freehold title to land, so a standalone house typically means owning the structure via a long-term (commonly 30-year, renewable) leasehold on the land, or in rare cases a Board of Investment promotion. Condominium units are the exception — foreigners can hold those outright, which is why condos remain the simplest entry point into Thai property ownership.

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