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What are the requirements for purchasing a condominium?

April 26, 2017condominium purchasing requirements

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What are the requirements for purchasing a condominium?

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In order to purchase a condominium certain requirements must be met, for example: 1: A foreigner has permanent residence in Thailand in accordance with Thai Immigration Law, or 2: A foreigner is allowed into or resides in Thailand in accordance with Thai Investment Promotion Law, or 3: A foreign legal entity is in accordance with the Announcement of the Foreign Business Act BE 2542 (AD 1999), and has been granted an Investment Promotion Certificate in accordance with the Investment Promotion law, or 4: A foreigner or foreign legal entity who brings foreign currency into Thailand, or brings in Baht currency from the account of a person residing abroad, or uses foreign currency from their Deposit Account. This requirement is normally met by the presentation of a Dor Tor 3 form which is provided by the bank receiving an incoming remittance from abroad.