Buying a condo in Thailand
The Thailand condominium law allows outright foreign ownership of an apartment unit in a condominium registered and licensed as a condominium with the Thailand Land Department. The Thailand Condominium Act contains in section 19 the restrictions and requirement for foreign ownership of a condo.
Any foreigner who can enter Thailand legally can buy a condominium and register foreign ownership within the foreign ownership quota of the condominium building (section 19 bis of the Condominium Act B.E.2522) but he must qualify for foreign ownership under section 19. Becoming eligible for foreign ownership a non resident foreigner must have transferred the full purchase price for the condo in foreign currency into Thailand. The receiving bank in Thailand will issue proof of the remittance and exchange of foreign currency into Thai baht that must be submitted with the Land Department.