Yes, a foreigner can own a condominium unit in Thailand in their own name, as long as foreign ownership in the building stays within the 49% quota and the purchase money comes in from abroad in foreign currency. Land is a different matter: foreigners generally cannot own it. At the land office, foreign buyers pay the full 2% transfer fee; the 0.01% rate in force until June 2027 is for Thai individuals only (rules as of October 2026).
Condos are the one part of the Thai property market that the law opens to foreigners on almost the same terms as Thais. That is why so many foreign buyers end up in condos in Bangkok, Pattaya, Phuket and Hua Hin, and why the rules about the quota, the money transfer and the land office matter so much. Getting one of them wrong can mean a transfer the land office refuses to register.
This page explains the rules and the official costs. It is not investment advice and not legal advice: we do not say whether buying is a good idea or which building to choose. Before you pay any deposit, have an independent Thai lawyer, one who works for you and not for the developer or agent, check the title and the contract.
A foreigner buying a condo (October 2026)
- What you can own
- A condominium unit, freehold, in your own name
- Foreign quota
- Foreign owners together may hold no more than 49% of the building (measured on saleable floor area)
- Land
- Generally not; narrow exceptions only
- Money
- From abroad, in foreign currency; transfers over USD 50,000 are reported on a Foreign Exchange Transaction (FET) form
- Transfer fee
- 2% of the official appraised value (Department of Lands); the 0.01% reduction is for Thai individuals only
- Where it is registered
- The land office for the district where the building stands
- Not law yet
- A 75% foreign quota and 99-year leases are only under study
What a foreigner may own, and what not
The Board of Investment's guide to Thai property law sums up the position. Foreign individuals and foreign companies may hold title to condominium units in buildings that qualify. Foreigners generally may not own land.
There are a few narrow exceptions for land. Companies promoted by the Board of Investment can own land for their approved projects. Under a 1999 amendment to the Land Code, a foreigner who invests at least 40 million baht, and keeps the investment for at least three years, may buy up to 1,600 square meters of land for a home, with permission from the Ministry of Interior. Few private buyers use this route.
Buildings are treated separately from land. A foreigner may own a house built on leased land, because the law does not restrict ownership of the structure. A lease of land is registered for up to 30 years under current law. Proposals to allow 99-year leases and to raise the condo quota to 75% have been under government study since 2024, and in June 2026 the Bangkok Post still described them as under consideration. Until they are law, plan on 49% and 30 years.
The 49% foreign quota and how to check it
The Condominium Act caps foreign ownership in each building. The Nation, reporting in June 2026, describes the limit as 49% of the total saleable area in the project, measured by floor area. The BOI's summary words it as 49% of the units, which is a simplification. What matters in practice is the same either way: if your purchase would take foreign ownership above the limit, the land official rejects the transfer.
Ask the building's juristic person (the management office that runs the condominium) in writing how much foreign quota remains, and have your lawyer confirm it before you pay a deposit. Developers selling new buildings also keep track of their foreign allocation. The final check happens at the land office on transfer day, which is too late to discover a problem.
A Thai company with "shareholders in name only" is not a way around the quota. A company counts as Thai if Thai shareholders hold at least 51%, but using Thais who own shares only on paper is illegal. A 2025–2026 crackdown has focused on Phuket, Koh Samui and Koh Pha-ngan. Under Section 94 of the Land Code, the Department of Lands can order land acquired unlawfully by a foreigner to be sold within 180 days to one year.
Bringing the money in: foreign currency and the FET form
To buy a condo in a foreigner's name, the money is expected to come from abroad in foreign currency and be converted to baht in Thailand. The bank that receives the transfer records it, and that record is what the land office looks at.
Thailand's exchange control rules, as summarized by the BOI, require any sale, exchange or deposit of foreign currency above USD 50,000 or the equivalent to be reported to an authorized bank on a Foreign Exchange Transaction Form. That form is the "FET form" buyers talk about. Ask the receiving bank to issue it in your name and to state the purpose as the purchase of a named condominium unit. Land offices commonly ask to see it for a foreign-quota purchase.
For smaller transfers, banks may issue a different document, such as a credit advice. Whether your land office accepts that is a question to ask it, or your lawyer, before you send money. Practical points that save trouble:
- Send the money from an account in your own name, so the payer and the buyer match.
- Send it in foreign currency and let the Thai bank convert it, rather than converting abroad and sending baht.
- Keep every transfer slip, and ask for the FET form or bank letter for each transfer, not only the last one.
- If the money arrives in several parts, make sure the documents add up to at least the price in the contract.
Do not carry cash. Under the Bank of Thailand's rules, bringing in foreign banknotes above USD 15,000 or the equivalent, or Thai banknotes above 450,000 baht, requires a declaration to Customs; the customs declaration is explained in a separate guide. Cash also leaves no FET trail. A Thai bank account makes the later payments, such as common fees and utilities, much simpler; see our guide to opening a bank account.
Transfer day: the fees and taxes at the land office
The sale is completed by registering the transfer at the land office. Fees and taxes are paid there on the day, and the Department of Lands publishes the rules. The table summarizes what applies to an ordinary condo sale.
| Charge | Rate | Calculated on | Paid by law by |
|---|---|---|---|
| Transfer registration fee | 2% | The official appraised value | Not fixed by law; agreed in the contract |
| Specific business tax | 3.3% | Appraised value or sale price, whichever is higher | Seller, if the sale is taxable (see below) |
| Stamp duty | 1 baht per 200 baht (0.5%) | The amount in the sale | Not due when specific business tax is due |
| Withholding income tax | Individuals: sliding scale; companies: 1% | Appraised value (companies: higher of price or appraised value) | Seller |
Three details from the Department of Lands rules are worth knowing. The 2% fee is charged on the government's appraised value, which is often lower than the market price. Specific business tax applies, among other cases, when a developer sells new units or when an owner sells within five years of acquiring the property, but not when the seller has had their name on the house registration for that home for at least a year. And the withholding tax for an individual seller is calculated with deductions that depend on how long they have owned the unit.
The Department of Lands rules do not say whether buyer or seller pays the 2% fee, so the contract decides. Read that clause and make sure the split is written down. Ask the land office or your lawyer for the appraised value of the unit before signing, so the fee can be calculated in advance.
The 0.01% transfer fee you may have read about is not for you. From 1 July 2026 to 30 June 2027 the transfer and mortgage fees are cut to 0.01% for homes up to 7 million baht, but the Royal Gazette announcements limit this to individual buyers who are Thai nationals. A foreign buyer pays the normal 2%.
New build or resale: protecting your deposit
Buying off-plan from a developer means paying a reservation fee and installments before the building exists. Buying resale means dealing with a private owner, often through an agent. Each has its own risk.
Thailand does not require property deposits to be held in escrow, according to the BOI. Buyer and seller may agree to use an escrow account under the Escrow Act of 2008, and only commercial banks, finance companies and certain state banks may act as escrow agents. For a large resale payment to a private seller, asking for escrow is a reasonable request.
Whichever you choose, your lawyer should check the title document for the unit at the land office, look for mortgages or other registrations on it, confirm the seller's identity and right to sell, and check that the common-area fees are paid up. Agents usually work for the seller. Pressure to pay quickly is a classic warning sign; our scams guide lists others.
After you buy: running costs and tax
Owning a condo brings monthly costs that renting hides. The juristic person charges a common-area fee for maintenance, security and shared facilities, and you pay electricity and water for the unit. Our page on the cost of living for residents gives the official electricity and water tariffs to plan with.
If you plan to let the unit, the rent is taxable income and the building's own regulations may limit short lets. Ask the juristic person about the rules and a Thai tax adviser about the tax before you count on rental income. If you will live in Thailand for 180 days or more a year, our page on tax residency and foreign income explains how income you bring in can be taxed.
Many people rent in an area for months before buying. Our tenant's guide to Thai leases explains deposits and the TM30. Renting first is a cheaper way to learn a building's noise, management and flooding history than buying first.
Does owning a condo give you a visa?
No. Buying property does not by itself give you the right to stay in Thailand, and you still need a visa that fits your situation. Retirees aged 50 and over usually use the retirement visas. Wealthy buyers may qualify for the LTR visa, whose Wealthy Global Citizen category accepts Thai property as part of the required USD 500,000 investment in Thailand. Others choose the paid Thailand Privilege membership. Every long-stay option is gathered on our hub for residents.
Frequently asked questions
Can a foreigner buy a house and land in Thailand?
Not the land, in most cases. Foreigners can own the house as a building, for example on land leased for up to 30 years, but land ownership is limited to narrow exceptions such as BOI-promoted companies or a 40-million-baht investment with Ministry of Interior permission.
Is it true that foreigners can now own 75% of a condo building?
No. Raising the foreign quota from 49% to 75% and extending leases to 99 years have been studied since 2024, but neither had become law as of October 2026. The 49% limit still applies to every condominium building.
Do I need an FET form to buy a condo in Thailand?
Exchange control rules require transfers of foreign currency above USD 50,000 to be reported on a Foreign Exchange Transaction Form, and land offices commonly ask to see it for a foreign-quota purchase. For smaller amounts, ask your bank and the land office which document they accept.
How much is the transfer fee when a foreigner buys a condo?
The registration fee is 2% of the official appraised value. The 0.01% rate that runs until 30 June 2027 is only for individual Thai buyers of homes up to 7 million baht. The seller also pays taxes, and who pays the 2% fee is set in the contract.
Can I use a Thai company to buy more than the foreign quota?
Only a genuinely Thai-majority company counts as Thai. Using Thai shareholders who hold shares only in name is illegal, and nominee ownership has been the target of a crackdown in Phuket, Koh Samui and Koh Pha-ngan in 2025 and 2026.
Sources
- Department of Lands – Fees, taxes and duties for land registration (Thai) (checked October 2026)
- Board of Investment, One Start One Stop – Property law and exchange control summary (checked October 2026)
- Bank of Thailand – Exchange control regulations (checked October 2026)
- The Nation – Thailand cuts property transfer and mortgage registration fees (2 July 2026) (checked October 2026)
- The Nation – Nominee crackdown exposes property law loopholes (22 June 2026) (checked October 2026)
- Bangkok Post – Crackdown unlikely to hit foreign property demand (24 June 2026) (checked October 2026)
- Board of Investment – Long-Term Resident visa, Wealthy Global Citizens (checked October 2026)