Buying Property in Thailand: Foreign Condo Quota and Funds Evidence

• Foreign condominium ownership generally requires an eligible buyer and space within the building’s foreign quota, measured against 49% of the total condominium unit floor area—not 49% of unit count.

Freehold title, lease rights and company shares are different assets.

Direct foreign ownership of land is generally restricted; narrow statutory exceptions are not an ordinary visa-holder entitlement.

A Thai nominee company is not a safe workaround.

If it is a lease, price the term you actually own

Have the lawyer identify any special regime, enforceability, transfer/inheritance terms, landowner obligations and what happens after sale or default.

Do not value promised future renewal as if it were registered freehold.

Avoid nominee shareholding arrangements: owning company shares does not remove land-ownership restrictions or compliance duties.

Household example: a foreign buyer of a THB 6,000,000 condo

Illustrative composite. Any prices below are planning assumptions, not market averages or guaranteed quotes.

Assume cash purchase with a confirmed eligible foreign-quota route. The lawyer/bank specify the funding documents before transfer.

• Assume a THB 600,000 deposit, a THB 300,000 itemised quote for the buyer’s allocated taxes/fees/legal costs and THB 500,000 retained reserve; these costs are not a universal 5% tariff.

The decision: They proceed only when the lawyer confirms the title/quota and the bank confirms the accepted funds evidence.

If either fails, the reviewed contract’s refund/termination condition governs; the cheap deposit is not a reason to skip these checks.

Traps to avoid

• Treating quota as unit count.
• Assuming every foreign buyer needs exactly the same FET document.
• Paying before resolving registered rights and bank evidence.
• Valuing unregistered renewals as ownership or using nominees to bypass land rules.

Documents to prepare

• Passport and buyer eligibility/status evidence; if someone acts for you, the accepted power of attorney and identification.
• Unit title and seller authority, encumbrances, building/condominium registration and a current foreign-quota certificate from the condominium juristic person.
• The condominium debt-free certificate and records of sinking fund, common fees, approved special assessments, building condition and lawful occupancy/use.
• Bank evidence in the buyer’s correct name for the applicable purchase-fund route, complete sending/receiving statements and the transaction’s condominium-purchase purpose.
• Contract, transfer appointment requirements and itemised allocation of taxes, transfer fees, legal review and post-transfer charges; for leases, the registered right and lawyer-reviewed term/renewal provisions.

Money transfer: arrange the evidence before sending

Under the ordinary foreign-currency route, follow the government’s instructions for remitting foreign currency and recording the buyer and condominium-purchase purpose.

For qualifying transfers of USD 50,000 or more, obtain the receiving bank’s Foreign Exchange Transaction (FET) evidence.

Smaller amounts use the applicable bank certificate. Agree the evidence with the bank before sending money.

the government’s purchase-funds instructions

Other eligible funding/status routes exist. A remittance provider that delivers baht may not create the evidence your selected route needs.

• Before wiring, give the bank and independent lawyer the buyer name, price, sending currency and intended title route. Obtain the bank’s exact evidence requirements and allow time for compliance review.
• Verify bank coordinates independently. Retain the outward transfer receipt, inbound credit, conversion record and issued bank certificate; reconcile the accepted purchase evidence to the amount needed for registration.
• Do not split transfers to avoid checks, assume every bank will pre-approve a title transfer, or send money on an agent’s promise to produce the certificate later. Resolve the document route first.

The practical sequence

1. Choose the actual ownership right. For a condo, confirm eligibility and foreign floor-area quota. For a landed home, have a lawyer assess the proposed registered lease/right; there is no general foreign freehold land permission created by buying a villa.
2. Check title and building before the reservation. Independent lawyer checks the title, encumbrances, seller, quota, debts and contract. Inspect the unit/building and investigate seasonal access, drainage and maintenance exposure separately.
3. Agree the contract and refundable conditions. State the title right, price, deposit, completion timetable, seller obligations and what happens if quota or banking evidence is unavailable. A promotional reservation is not proof that these protections exist.
4. Arrange traceable funds and certificates. Follow the selected lawful funding route, obtain the bank evidence and save the documentary chain. The lawyer checks that it supports the buyer and transfer, not merely that money arrived.
5. Prepare and attend the Land Office transfer. Use the official condominium document list for quota, debt-clearance, identity and title evidence. Present originals/accepted representation, check the deed and settle the quoted statutory fees/taxes in the agreed allocation. Obtain receipts and registered title evidence.
6. Complete the handover. Record keys, meter readings, defects, insurance, condominium contact and recurring fees. Keep a copy of registered ownership/right and the entire bank trail. The Department of Lands registration handbook is a useful reference for the legal categories.

Practical checklist

• Check legal right, title, quota and debts.
• Confirm bank evidence before remitting.
• Fund the price balance plus itemised buyer costs.
• Collect registered title/right, official receipts and handover records.

When to hire an adviser

• Use an independent Thai property lawyer before reservation and before any land/lease/company arrangement. Obtain a bank’s written document requirements and an independent inspection.

The seller’s lawyer, broker or transfer agent does not necessarily represent your interests.