What is a Condominium in Thailand?
A condominium in Thailand, as defined under the Condominium Act B.E. 2522 (1979), is a legally registered building where ownership is divided into two distinct categories:
1. Personal Ownership: Individual units are privately owned, and each owner receives a title deed (chanote) verifying their full ownership rights over the specific unit.
2. Joint Ownership: Owners collectively share ownership of common areas, such as land, parking spaces, and shared facilities like pools or gyms.
Foreigners can legally own condominium units in freehold, provided their ownership remains within the foreign ownership quota. This quota allows non-Thai nationals to own up to 49% of the total floor area of a condominium building, making condos one of the most straightforward and secure property options for foreigners in Thailand.
Differentiation from Other Multi-Unit Buildings
Condominiums differ from other multi-unit residential buildings in Thailand, such as apartment houses, where individual ownership of units is not permitted. In such buildings, the entire property is typically owned by a single entity, and residents can only lease or rent units, with no personal ownership rights.
The issuance of a title deed and the legal framework provided by the Condominium Act ensure that condominium ownership offers a clear and enforceable property right, making it a unique and attractive choice for both Thai nationals and foreigners.
Who Can Buy a Condo in Thailand?
Section 19 of the Condominium Act B.E. 2522 (1979) specifies the categories of foreigners and foreign-controlled juristic persons eligible to own condominium units in Thailand. Ownership is permitted under the following conditions:
Note the contrast with land. A condominium unit can be held in a foreigner’s own name within the quota; land cannot, and the workaround most often proposed — holding land through a Thai company — carries enforcement risk that a condominium purchase does not.
1. Permanent Residents of Thailand
• Foreigners with a permanent residence permit under the Immigration Act.
2. Individuals Residing Under Investment Promotion Laws
• Foreigners authorized to reside in Thailand under the Investment Promotion Act, such as those granted privileges by the Board of Investment (BOI).
3. Foreign-Controlled Juristic Persons Registered in Thailand
• Companies registered under Thai law but classified as “alien” under Sections 97 and 98 of the Land Code, typically due to majority foreign ownership.
4. Juristic Persons with Investment Promotion Certificates
• Juristic persons classified as “alien” under the Foreign Business Act and holding an investment promotion certificate under the Investment Promotion Act.
5. Foreigners Transferring Currency into Thailand
• Foreign individuals or juristic persons who:
• Transfer foreign currency into Thailand.
• Withdraw money from a Thai Baht account held by a non-resident.
• Withdraw funds from a foreign currency deposit account within Thailand.
Foreign buyers must present documentation such as a Foreign Exchange Transaction Form (FET) or equivalent proof during the ownership transfer process, ensuring compliance with Thai property laws.
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Foreign Ownership Quota in Condominiums
Foreigners may collectively own up to 49% of the total floor area in a condominium building, as specified in the Condominium Act. This quota ensures a majority Thai ownership in condominium projects.
To transfer ownership to a foreign buyer, the Land Department requires a certificate from the condominium management confirming compliance with the 49% foreign ownership quota.
Payment to Purchase a Condo
Foreign buyers must usually show that the purchase funds originated from outside Thailand. This is a mandatory requirement for registration under Section 19/3 (ter) of the Condominium Act and must be evidenced through specific bank documentation.
Accepted Methods
1. Inbound foreign-currency transfer into Thailand (most common)
- Funds are remitted in foreign currency into Thailand and exchanged into THB by a local bank.
- A Foreign Exchange Transaction (FET) Form is typically issued for transfers exceeding USD 50,000 (or equivalent); for smaller amounts, banks usually issue a credit advice or confirmation certificate.
- Update (Effective 29 Dec 2025): For substantial transfers (especially for Thai real estate), banks are now required to increase the scrutiny of supporting documentation. For transactions of USD 200,000 or more, banks can no longer use simplified “Know Your Business” (KYB) processes as a shortcut and must collect documents for every transaction. See our post: Bank of Thailand Tightens Documentation Verification for Large Foreign Currency Inflows.
2. Withdrawal from a Thai Baht Non-Resident (NRBA) account
- Funds may be paid from an existing THB non-resident account.
- A bank certificate confirming the withdrawal and the specific purpose (condo purchase) is required for the Land Department.
3. Withdrawal from a Foreign Currency Deposit (FCD) account in Thailand
- Funds may be withdrawn from an FCD account held in Thailand.
- A FET Form or equivalent bank certificate must be provided. Note that banks must now verify documentation for FCD deposits of USD 200,000 or more intended for property investment at the time the funds are credited.
4. Physical cash brought into Thailand
- Foreign currency cash brought into Thailand should be declared at customs (where applicable) and deposited with a Thai bank to obtain a supporting certificate.
- Note: For physical foreign banknotes of USD 15,000 or more, banks are now required to request evidence proving the currency was officially brought into the country.
Exceptions (where the “inbound funds” requirement may not apply)
As mentioned in the categories above, certain buyers have more flexibility depending on the legal basis used for registration:
- Permanent Residents of Thailand holding a residence permit9.
- Investment-promotion (BOI) cases falling under specific carve-outs referenced in Section 19/3 (ter)10.
Key Note
For Land Department registration, the payer name on the bank evidence should match the buyer’s name exactly, and the documented amount should be at least equal to the purchase price. Due to the new 2026 verification standards, we recommend planning the transfer flow early and having all sale agreements ready for mandatory bank review to avoid delays at the registration stage.
Taxes and Fees When Buying a Condo
When purchasing a condominium unit in Thailand, several taxes and fees apply, typically shared between the buyer and seller. Here’s an overview:
| Tax/Fee | Rate | Who Pays |
|---|---|---|
| Registration Fee | 2% of the appraised value | Shared between buyer and seller (common practice) |
| Specific Business Tax (SBT) | 3.3% (if sold within 5 years) | Seller |
| Stamp Duty | 0.5% (if SBT doesn’t apply) | Seller |
| Withholding Tax | 1% (companies) or progressive rate (individuals) | Seller |
Tax and fee responsibilities may vary depending on the sales agreement, so it’s essential to confirm arrangements with the seller.
To learn more, see:
A Practical Guide to Property Transfer Taxes and Fees in Thailand: What Buyers and Sellers Need to Know
Annual Expenses: Land and Building Tax
All condominium owners are required to pay the Land and Building Tax annually. The tax amount is calculated based on the official appraised value of the unit, but the tax rate depends on how the property is used.
1. Rental or Commercial Use
If the property is used to generate income (e.g., rented out), it is classified as “other use” (commercial).
- Tax Rate: Starts at 0.3%.
- Example: For a 10 million THB condo, the tax is 30,000 THB/year.
2. Residential Use (Personal Holiday Home)
If the property is used for personal living but you are not officially registered in the condo (no Yellow Tabien Baan).
- Tax Rate: Starts at 0.02%.
- Example: For a 10 million THB condo, the tax is 2,000 THB/year.
3. Primary Residence (Official Domicile)
If the owner is listed in the household registration book (Yellow Tabien Baan) as of January 1:
- Exemption: The first 10 Million THB of value is exempt from tax.
- Tax Rate: 0.02% applies only to the value exceeding 10 Million THB.
Table of Rates (For Residential Use)
Applies to properties used for living purposes (not commercial/rental).
| Appraised Value (THB) | Tax Rate |
| Up to 10 Million | 0.02% (Exempt if listed in Tabien Baan) |
| 11 – 50 Million | 0.02% |
| 51 – 75 Million | 0.03% |
| 76 – 100 Million | 0.05% |
| Over 100 Million | 0.1% |
Key Points:
- Payment Deadline: Tax is payable annually in April.
- Penalties: Late payments incur penalties (up to 40%) and interest charges.
- Calculation Example: For a condo appraised at 12 million THB used as a second home (no Yellow Book): 12,000,000 × 0.02% = 2,400 THB per year.
Inheritance Considerations
Inheritance by foreign heirs is subject to restrictions under the Condominium Act. For more details, see our article:
How Foreigners Can Inherit Condominium Units in Thailand
Does Buying Property in Thailand Qualify for a Residence Permit?
No, owning property in Thailand, including condominium units, does not automatically qualify foreigners for permanent residence or a residence permit.
Thai laws do not grant residency rights for property ownership, unlike countries offering residency-by-investment programs. Foreigners seeking long-term residence in Thailand should consider alternative visa options, such as investment visas, the Thailand Privilege Card, or the Long-Term Resident (LTR) Visa program.
Does Buying a Condo Qualify for a Visa?
Yes, but conditions apply. Since October 2025, the options for residency through property investment have significantly expanded.
Investment Visa through Property (THB 3 Million)
October 2026: Processing of THB 3 million investment visa applications is temporarily paused.
The programme provides an initial 90-day Non-Immigrant B permit followed by a renewable one-year extension. It does not permit employment. Three property routes are recognised:
- Freehold condominium: a completed unit worth at least THB 3 million, registered in the applicant’s name.
- Registered leasehold: a condominium or house leased for more than three years, with evidence of prepaid rent totalling at least THB 3 million for the lease term.
- Sap-Ing-Sith: a registered right over property for more than three years, with qualifying advance payment of at least THB 3 million.
The transaction or relevant right must be registered at the Department of Lands on or after 1 October 2025, with a Thai individual or Thai juristic person as counterparty. Each qualifying property unit supports one application right; values of cheaper units cannot be combined. Off-plan property qualifies only after completion and registration.
Certification through the Ministry of Tourism and Sports workflow, coordinated by Thai Longstay (TLS), is required. TLS’s stated timing requirement is more than 15 days of permitted stay remaining at application. Ordinary residential rental is not a separate qualifying route.
Full criteria and current programme status.
Standard Investment Visa (10 Million THB)
This remains the “classic” investment route. It allows for a one-year renewable extension based on an investment of 10 million THB.
- Asset Options: This can be satisfied by purchasing a newly built condo (directly from a developer), holding Thai government bonds, or maintaining a fixed deposit in a Thai-owned bank.
- Requirement: The investment must typically be held for the duration of the visa stay.
Long-Term Resident (LTR) Visa
For high-net-worth individuals, property investments can count toward the eligibility for the 10-year LTR Visa:
- Wealthy Global Citizen: Requires an investment of 500,000 USD in eligible Thai assets (including condos).
- Wealthy Pensioner: Requires an investment of 250,000 USD if the applicant’s annual income is between 40,000–80,000 USD.
For more details about the LTR Visa and its requirements, check out our full guide:
Related articles
How Foreigners Can Inherit Condominium Units in Thailand
Foreign Ownership and Property Rights in Thailand: Key Legal Options Explained
Leasehold in Thailand: What Foreigners Need to Know
A Practical Guide to Property Transfer Taxes and Fees in Thailand: What Buyers and Sellers Need to Know
How we can help
We provide practical legal support to make your condominium purchase in Thailand smooth and secure:
1. Due Diligence: Verifying property ownership and legal compliance.
2. Contract Assistance: Reviewing and drafting agreements to protect your interests.
3. Ownership Registration: Handling all paperwork and processes at the Land Department.
4. Legal Guidance: Advising on taxes, payments, and any additional requirements.
Let us take care of the details so you can focus on your new property. Contact us today!
