Condominium Act
The Condominium Act of Thailand permits foreigners to own condominium units in the country, subject to specific requirements.
Foreign individuals are allowed ownership of up to 49% of the units within a condominium building as outlined in the Condominium Act. One vital stipulation is that a minimum of 51% of the total unit area must be under the ownership of Thai nationals or Thai juristic persons. Should a foreign individual seek to purchase a unit, the transfer of funds from overseas in foreign currency is necessary to adhere to foreign exchange regulations. This legislation is designed to encourage foreign investment in Thailand’s real estate industry while ensuring that Thai ownership remains predominant.
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