Can A Foreigner Own A Condominium In Thailand?
The simple answer is yes, you can. Under Thai Law, 49% of the internal area of a condo building, excluding the common areas, can be owned by foreigners. Buying a condominium is easily the simplest option available to foreigners. The only stipulation when a foreigner purchases a condominium, are that the funds used for purchase were received from abroad and this is recorded by the receiving Thai Bank, who will issue you a document called a Tor Tor Sam. The purchases of condominiums by foreigners come under the jurisdiction of the Condominium Act B.E. 2535 (1992). The owner of each condominium is issued with a title deed of ownership (Chanote) which also states the certified property area (which here also includes the balcony, if any. What Is A Tor Tor Sam? A Tor Tor Sam (3) is the official bank document issued by the receiving bank upon the receipt of foreign currency into your bank account in Thailand. It is important you request a Tor Tor Sam from your bank when you have remitted fund
