- Foreigners who need to own a condominium in Thailand, by law allows foreigners to own a condominium unit not more than 49% of the total areas of a project. For example, a condo has a total area of 1,000 m. Quota of foreigners can buy a condominium in the area of 490 sq. m. only, cannot be more than 49%, and the money that can be used to buy a condominium must be 100% guarantee by bank that the money transferred is a money from abroad used to pay for buying the apartment only.
- Foreigners who want to own a land in Thailand will be difficult than owning a condominium as follows:
- Foreigner can own 1 rai of land only.
- Must be a foreigner who have qualification by legal requirements as following:
Foreigners have to has investment in Thailand and amount of investment in the country at least 40 million baht. In a period of not less than 5 years, and type of investment must be legal, such as investing in Thai government bonds.
- The land purchased must be within the area specified by the city plan by law and must be outside the safe zone for military service.
- Foreigners who have the right to purchase or buy a land must use the land for residence only.
Knowledge Resources: Land Office