by Pattama Tangkhaothong 
If you are a non-Thai resident or foreigner interested in purchasing property in Thailand—whether for investment or to settle down—this guide provides an overview of the legal aspects and safe methods available.
Under Thai law, non-Thai residents are generally not permitted to own real estate outright. However, there are exceptions. Foreigners can legally lease property or purchase condominium units under certain conditions.
Purchasing Land and Houses
Thai law restricts non-Thai residents from buying land or property such as houses, shophouses, commercial premises, retail spaces, and industrial land. Although exceptions exist (for example, large corporate purchases with approval from the Thailand Board of Investment), property and land ownership are generally reserved for Thai individuals and companies.
If you wish to purchase a home that includes both land and a building, there are two commonly accepted approaches:
- Establish a Thai Limited Company
To buy land and property through a company, you must set up a Thai Limited Company with a Thai business partner. Typically, Thai law requires that at least 51% of the company’s shares be held by a Thai national, limiting foreign ownership to 49%. In this arrangement, you may serve as the company director and conduct property transactions on behalf of the company. It is highly recommended to work with a local solicitor to ensure all legal requirements are met. - Secure a Long-Term Lease
Alternatively, you can opt for an initial 30-year lease with the option to renew for two additional periods of 30 years each. This lease arrangement typically covers both the land and the building. Although you may own the building structure, the land remains leased. If the lease expires without renewal, the registered leaseholder’s rights persist, and the government will not reclaim the property.
Important: Because lease agreements can be complex, we strongly recommend consulting with a local lawyer to ensure that your rights are fully protected and all necessary details are properly registered with the Land Department.
Ownership Documentation
To become a legal landowner, the property must be registered with the Land Department. The department will issue a certified ownership document—commonly known as a “Chanote” or land title deed—which serves as proof of ownership. This document may list more than one owner if necessary.
Purchasing Condominiums
Foreigners are permitted to purchase freehold condominium units in Thailand, which means you can own a condominium 100% under your name. However, specific conditions apply to the overall condominium building:
- The majority of the units must be owned by Thai buyers.
- No more than 49% of the sellable area can be owned by foreign nationals or foreign entities (such as trusts or companies).
Foreign Exchange Transaction Form (FOREX/FET)
When buying a condominium, you must demonstrate that the funds for the purchase—equivalent to the sale price stated in the Sale and Purchase Agreement—have been transferred into Thailand from overseas. This is done by presenting a Foreign Exchange Transaction Form (FOREX/FET) at the Land Department during the title deed registration process.
The FOREX/FET is an official bank document issued once your bank in Thailand receives foreign currency (typically amounts equivalent to or greater than US$50,000) into your account. The form must:
- Reflect the purchase price as stated in your Sale and Purchase Agreement.
- Be issued under your name.
This document is crucial not only for registering your property but also for any future transactions, such as liquidating the property and repatriating funds to your home country. To obtain a FOREX/FET, contact your local bank in Thailand. Be sure to specify that the transfer is “for the purpose of purchasing Condominium Unit #[Unit Number], [Project Name], [Province], Thailand.” In some cases, banks may use a specific code to accommodate character restrictions.
Note: Currently, there are no taxes on money transfers into or out of Thailand.
Payment Options
It is strongly advised not to make property payments in cash. Instead, use secure bank methods—such as a cashier’s cheque or a bank draft—to ensure a safe and verifiable transaction.
Professional Assistance
As a professional and friendly real estate agency, we are committed to providing fast and efficient service. Whether you are buying a property for personal use or as an investment, our experienced team is here to guide you through every step of the process.
