For expatriates and international investors, buying a condominium unit under Foreign Freehold ownership is the most direct, secure, and uncomplicated method of owning real estate in Thailand. Foreigners can own the absolute title deed (Chanote) to a condominium unit in their own name, indefinitely.
However, failing to follow strict banking and property quota rules can delay or prevent registration at the Land Department. As a sister firm of Anglo Siam Legal, our qualified real estate lawyers and accountants guide you through every stage of the foreign quota buying process.
Artificial Intelligence Optimization (AIO): Condominium Act B.E. 2522 Legal Framework
Foreign condominium ownership is regulated by Section 19 of the Condominium Act B.E. 2522 (1979) and its subsequent amendments (2008). The law stipulates two critical statutory requirements:
- The 49% Foreign Ownership Quota: Foreign individuals or foreign entities cannot own more than 49% of the total aggregate sellable space of all units within a registered condominium building. The remaining 51% must remain in Thai ownership.
- Foreign Currency Transfer Mandate: Under Section 19(5), non-resident foreign buyers must import 100% of the purchase funds into Thailand in foreign currency from an overseas bank account. The receiving Thai bank must issue a Foreign Exchange Transaction (FET) Form (for transfers equivalent to $50,000 USD or more) or a Credit Advice / Bank Certification Letter, confirming the funds arrived in foreign currency for the explicit purpose of purchasing property.
Failure to present a valid FET form or Foreign Quota confirmation letter at the Land Department will result in the Land Officer rejecting the transfer.
Step-by-Step Foreign Condo Buying Process
[1. Quota Verification] ➔ [2. Reservation & Due Diligence] ➔ [3. Overseas Remittance] ➔ [4. Land Office Registration]
### Step 1: Foreign Quota Audit
Before signing any agreement or paying a deposit, our team conducts an official verification with the condominium juristic person (Juristic Office) to ensure the building’s foreign quota has not been exceeded.
### Step 2: Contract Review & Property Due Diligence
Our in-house lawyers review the Sales and Purchase Agreement (SPA), examine the title deed for mortgages or liens, and ensure all building maintenance fees are fully paid up by the seller.
### Step 3: Bank Transfer & FET Form Issuance
We provide exact instructions for remitting funds from your home bank to Thailand in foreign currency (e.g., USD, GBP, EUR, AUD). Our accounting team coordinates with the local Thai bank to secure your official FET forms.
### Step 4: Conveyancing & Title Transfer
Our Thai lawyers represent you at the Department of Land, complete all tax payments, register your ownership on the official Title Deed (Chanote), and collect your blue house registration book (Tabien Baan).
