Buying a condominium is perhaps the simplest and easiest option available to foreigners. Purchases of condominiums by foreign individuals come under the jurisdiction of the Condominium Act B.E. 2535 (1992).

Condominiums can be owned by foreigners in their own names provided that the total number of foreign-held units does not exceed 49% of the total number of units in the condominium block.

The funds to purchase the condominium should be remitted from abroad in foreign currency to a bank in Thailand, (in the name that is to be registered on the title deed), with the remark 'to purchase a condominium’, and the relevant form (Thor Tor Sam) can then be obtained from the said named bank.

The owner of each condominium is issued with a certificate of unit ownership. The certificate also has a statement saying exactly what percentage of rights over the common areas of the building each owner has.

Ownership of land in Thailand is governed by the Land Code BE 2497 (1954), the Civil and Commercial Code, the Land Reform for Agriculture Act BE 2518 (1975), and regulations issued by the Ministry of the Interior.

Foreigners may legally own a house or structure in their own name, but Thai law prohibits direct ownership of the land on which the building is constructed. There are, however, several legal structures that allow foreigners to acquire rights in land or property:

• Become a Thai resident or citizen
• Be the principal investor in a new export-orientated Board of Investment (BOI) approved company [the current maximum size limit of freehold ownership rights is one Rai of land (1,600 sqm)]
• Make an approved investment of over 40 Million Baht for a minimum period [the current maximum size limit of freehold ownership rights is one Rai of land (1,600 sqm)]

Thai Limited Company Ownership

A Thai company may own land and buildings if at least 51% of its shares are held by Thai nationals. A foreigner may hold up to 49% of the shares and can be appointed as the managing director with signing authority. The company must be properly registered, structured, and maintained in line with Thai law, with an annual balance sheet and tax filings submitted.

The director’s shares in the company are inheritable, meaning they can be passed to heirs, unlike personal rights such as leases or usufructs. The use of nominee shareholders is not allowed under Thai law; however, application and scrutiny vary between different provinces and local Land Offices, therefore professional legal and accounting representation is essential.

Leasehold (30 Years)

Foreigners may lease land for up to 30 years in their own name. Any lease longer than three years must be registered at the Land Office to be enforceable. Renewal clauses can be written into the agreement, but only the first 30 years is guaranteed under Thai law. A registered lease remains valid even if the land is sold to a new owner, who must honor the lease until expiry. However, leases are personal rights and generally end upon the tenant’s death unless otherwise agreed, which limits inheritance. Foreigners may also own the house or structure built on the leased land.

Usufruct

A usufruct grants the right to use and enjoy another person’s land, either for a fixed term or for the lifetime of the foreigner. It allows residence or rental income but ends upon the foreigner’s death. A usufruct must be registered at the Land Office to be enforceable, and it cannot be inherited.

Superficies

A right of superficies allows a foreigner to own a building on land belonging to someone else. This separates ownership of the structure from ownership of the land. A superficies can be granted for up to 30 years, for the lifetime of the landowner, or for the lifetime of the foreigner, and must be registered at the Land Office.

If granted for a fixed term (e.g. 30 years), it is inheritable within that period. If granted for the lifetime of the foreigner, it ends at death and cannot be inherited. If the land lease expires while a superficies is still valid, the foreigner still owns the house, which usually forces negotiation rather than loss of the property.

Sap-Ing-Sith

Sap-Ing-Sith is a newer form of land right introduced under the Sap-Ing-Sith Act B.E. 2562 (2019). It allows a foreigner to hold a registered real right over land and buildings for up to 30 years, with their name entered directly on the title deed (chanote). The right is transferable, inheritable, and can also be mortgaged within the 30 years. At the end of the term, the right expires automatically, and a new Sap-Ing-Sith can only be registered if the landowner agrees. While it provides stronger recognition than a lease, it does not grant actual ownership of the house or land.

Marriage Scenario

If a Thai and a foreigner are married, special rules apply. The land can only be registered in the Thai spouse’s name, with the foreigner required to sign a declaration at the Land Office confirming that the land is the Thai spouse’s separate property. In such cases, a lease, superficies, or Sap-Ing-Sith from the Thai spouse to the foreign spouse is generally not accepted, because the property is already considered joint marital property. However, a usufruct may be granted by the Thai spouse to the foreign spouse, and this is the most common form of protection used in mixed marriages.

A Foreign Exchange Confirmation Letter (Ex: Thor Tor Sam TT3 or Foreign Exchange Transaction form FET) is an official bank document issued by the receiving bank upon the receipt of foreign currency into your bank account in Thailand. You must request a Foreign Exchange Confirmation Letter from your bank when you are remitting funds to Thailand for the purpose of purchasing a condominium. The letter must specify the name of the sender, foreign currency amount, exchange rate and Thai  Baht amount, property address and that the remittance is for the purpose of purchasing a property.  Code 5.22.

Yes it is called Chanote, "Nor Sor 4 Jot" and is the only document which can be described a land title deed, because it alone confirms ownership of land. The land is accurately surveyed and its area and boundaries are set using GPS. There is no need to publicize any legal acts, and it is possible to partition (divide) the land into smaller plots.

For areas which are not surveyed, there are other documents for land possession such as evidence of the possession of the right to utilize the land or other interests in the land.
These documents are called "Nor Sor Sam (3) and Nor Sor Sam (3) Kor". Unlike the Title Deeds, these Nor Sor documents are issued to show the possessors' exploitation of the land. Though these documents do not provide ownership rights, as do Title deeds, they can still be registered for transfer of the lands for which they are issued.

Prior to 1998, any Thai woman who married a foreigner would lose her right to purchase land in Thailand. She could, however, still retain land that she owned prior to marrying the foreigner. However, the recent (1999) Ministerial regulation now allows Thai national's married to foreigners the right to purchase land, but the Thai spouse must prove that the money used in the purchase of freehold land is legally solely theirs with no foreign claim to it. This is usually achieved by the foreign spouse signing a declaration stating that the funds used for the purchase of property belonged to the Thai spouse prior to the marriage and is beyond his claim.

Whenever a property in Thailand is bought and sold, there are four taxes that need to be taken into account.

1. Land registration (transfer fee) of 2.0% of assessed value of the land.
2. Stamp Duty/Fee of 0.5% of the assessed value or the sale price - whichever is higher.
3. Specific Business Tax of 3.3% of the assessed value or the sale price - whichever is higher - this will be applied to all sales by companies and to any private sales that occur within 5 years of the date of purchase.
4. Income Tax - this is calculated on a very complex formula based on the assessed value of the property, the length of time owned and the applicable personal income tax rate. In practice, this will work out to under 2% of the price for low to medium-value properties, and up to 3% for higher-value properties.

The local system of taxing property is based on an arbitrarily assessed value as determined by the local Land Department, rather than the true market value price. There are no set rules as to who pays for which taxes, and it is just another part of the bargaining process for purchasing property in Thailand.

Service charges here in Thailand are extremely low, this is to maintain the common areas of the building, i.e. lifts, pools and corridors. A small % is deducted for the sinking fund that covers any major external repairs; therefore there are no hidden costs once you have purchased your condo.

Foreigners generally cannot obtain a mortgage for properties in Thailand, however, most of the financial institutions in Thailand provide loans for real estate purchasing to Thais and Thai companies.

It is common for a real estate developer to arrange for his customers to have a financing package from a financial institution. In most real estate development projects, a down payment can be made in installments from 10 to 24 months.

After the down payment has been paid, the sale contract will be made and the balance amount is paid through the loan which is financed by a financial institution. The financial institution requires you to mortgage the property with it as collateral against the loan.

The Land and Building Tax Act B.E. 2562 (2019) came into effect on 1 January 2020, replacing the former House and Property Tax Act. The tax is commonly referred to as the "Land and Building Tax" or simply "Property Tax".

Taxable real estate

The tax applies to all types of land and buildings, including owner-occupied houses, condominiums, apartments, as well as properties used for storage, industrial, or commercial purposes.

Tax base

Under the former law, property tax was based on 12.5% of the annual rental value. This system no longer applies. The current tax is based on the official appraised value of the property, which is also used to calculate transfer and registration fees under the Land Code. Where no appraised value is available, the calculation follows criteria and methods set by ministerial decree.

The appraised value is determined by the Land Office and updated regularly. If the purchase contract is older, the appraised value may be significantly higher than the contract value.

Tax rates

0.02% per year for residential property
0.3% per year for commercial property

Note: If the property is held in the name of a company, the commercial rate applies. Tax rates are reviewed and may be adjusted by government decree.

If land or buildings remain vacant for three consecutive years, the rate increases by 0.3 percentage points every three years, up to a maximum of 3%.

The local authority responsible for collecting the tax may apply higher rates, but not above the statutory ceilings (maximum 0.3% for residential property and 1.2% for commercial property).

Rental Income Tax (separate from property tax)

In addition to the Land and Building Tax, rental income from property in Thailand is subject to personal income tax. Both residents and non-residents must pay tax on Thai-sourced rental income, although tax treatment differs:

• Residents (≥180 days in Thailand per year) are taxed on worldwide income and can claim allowances and deductions.
• Non-residents are taxed only on Thai-sourced income and cannot claim most allowances, but can deduct standard expenses.

Standard deduction for rental income: For residential property rental, a 30% expense deduction is allowed, meaning only 70% of the rental income is taxable.

Progressive personal income tax rates (as of 2025):

• 0% – up to 150,000 THB
• 5% – 150,001 to 300,000 THB
• 10% – 300,001 to 500,000 THB
• 15% – 500,001 to 750,000 THB
• 20% – 750,001 to 1,000,000 THB
• 25% – 1,000,001 to 2,000,000 THB
• 30% – 2,000,001 to 5,000,000 THB
• 35% – over 5,000,000 THB

This means property owners may face two different obligations: the annual Land and Building Tax based on appraised property value, and personal income tax on any rental income generated. Professional tax advice is strongly recommended.

Land is measured in Rai – Ngan – Talang Wah (Tw2)

1 Rai = 1600 square meters (1 Rai = 4 ngan or 400 Tw2)
1 Ngan = 400 square meters (1 ngan = 100 Tw2)
1 Talang Wah = 4 square meters