How Do You Buy A Condominium In Thailand?
Buying a Condo is Safe Buying a condominium unit has become the simplest and easiest alternative for foreigners who want to own a piece of real property in Thailand. The foreigner can own the condo unit under their own name. Under Thailand law, it is not prohibited for a foreigner to own a condominium building in the country as long as his title therein does not exceed forty-nine percent (49%) of the whole condominium building. Thus, a foreigner may purchase one or more condominium units, as long as it does not exceed forty-nine percent (49%) of the total number of units in the condominium building. Funds for acquisition of property must come from abroad In purchasing the property, the foreigner is required, under the law, to pay for the condominium unit in foreign currency with funds from abroad, and duly recorded as such in a Thai bank as evidenced by a “Foreign Exchange Transaction Form,” or the TT3 Form. A TT3 Form is required to be presented upon registration of the transfer of ow
