Buying property in Thailand as a foreigner

Can foreigners own property in Thailand?

Yes — with important caveats. Foreigners cannot own land outright in Thailand, but they can own condominium units on a freehold basis under the Thai Condominium Act. This is the most straightforward and legally secure form of foreign property ownership in the country.

The key rule is the foreign ownership quota: no more than 49% of the total floor area in any condominium building can be foreign-owned. The remaining 51% must be held by Thai nationals or Thai entities. All developments listed on SeaLux Property are structured to accommodate foreign freehold ownership within this quota.

What about land and houses?

Foreigners cannot own land in Thailand in their own name. Options for house ownership include long-term leasehold (typically 30 years, renewable) or ownership through a Thai company — though the latter requires careful legal structuring and is not without risk. For most foreign buyers, condominium freehold ownership is the simplest and safest route.

Bringing money into Thailand

To register foreign freehold ownership, the purchase funds must be transferred into Thailand from abroad in foreign currency. The receiving Thai bank will issue a Foreign Exchange Transaction (FET) form, which you must keep as it is required at the Land Department when registering ownership.

This is a straightforward process but an important one — funds transferred in Thai Baht from a Thai bank account cannot be used to register foreign freehold title.

The buying process

• Reserve the unit — a reservation fee (typically $1,000–$3,000) secures your chosen unit while contracts are prepared.
• Sign the Sale and Purchase Agreement — review this carefully with a lawyer. It will set out the payment schedule, completion date and penalties.
• Payment schedule — off-plan purchases typically require a deposit of 20–30% at signing, with the balance due on completion.
• Transfer funds from abroad — ensure funds are sent in foreign currency and you retain the FET form.
• Completion and title transfer — on completion, ownership is registered at the Land Department and the Chanote title deed is issued in your name.

Taxes and fees

• Transfer fee: 2% of the registered value — typically split between buyer and seller.
• Withholding tax: Paid by the seller on resale — not applicable on new purchases from a developer.
• Specific Business Tax: 3.3% if the seller has owned the property for less than 5 years — paid by the seller.
• Stamp duty: 0.5% — only applies when Specific Business Tax does not.

Tax rules can change. Always verify current rates with a qualified Thai lawyer before completing a purchase.

Visa options for property owners

Owning property in Thailand does not automatically grant you the right to live there long-term. Visa options for foreign residents include:

• Thailand Elite Visa — a long-term residence visa available for purchase, giving 5–20 years of stay depending on the package chosen. Popular with retirees and lifestyle buyers.
• Retirement visa (Non-OA) — available to those over 50 meeting financial requirements. Renewed annually.
• Digital Nomad / LTR Visa — introduced in 2022 for remote workers and high-net-worth individuals. 10-year term.

Visa regulations change periodically. Verify current requirements with the Thai Immigration Bureau or a licensed immigration lawyer.