Can foreigners own condo in Thailand?
Thai law is very restrictive when it comes to foreign real property ownership. Buying a condo is generally the only way foreigners are allowed to purchase real property in Thailand outright. … The total area of the condo units owned by foreigners cannot exceed 49% of the total area of all saleable condo units.
Can you buy a condo in Bangkok?
Anyone can buy a condo in Bangkok, but expats need to note these two rules: They can only buy a unit in a condominium where less than 49% of the units are owned by foreigners. The money used to buy a condo must be paid from outside of Thailand.
Can foreigner buy property in Bangkok?
Foreigners cannot buy land in Thailand, only condominium units and apartments. … A foreigner can have a 30-year renewable lease, under which the buyer registers at the Land Office an option to renew the lease contract indefinitely, for further 30-year periods.
Can I live in Thailand if I buy a condo?
Thailand is giving condo buyers five-year residency visas for a THB10 million (USD 330,200) investment. More foreigners are seeking Thai visas as they consider Thailand a “COVID-Free Paradise.” The country is one of the successful nations in managing COVID-19 outbreak.
Can foreigners buy property in Thailand 2021?
Yes, Foreigners Buying Property in Thailand can take freehold ownership of a structure in Thailand, however foreigners are not permitted to own land in Thailand. Foreigners may enter into a long lease agreement, commonly known as “Leasehold” to secure the land.
Can a foreigner own land in Thailand?
A foreigner may own a land in Thailand in a name of Thai company (at least 51% of shares are Thai and 49% are foreign). This can be done as a Thai Limited Company or a registered Thai Partnership. The most common form of company registered in Thailand is the Thai Limited Company.
Is it easy to buy a condo in Thailand?
The process of buying a condo in Thailand is fairly easy, and only a few requirements must be met: The property purchased must be part of the project’s 49% surface that could be owned by foreigners. This can be easily verified at the developer’s office directly with the juristic responsible.
How much are condo fees in Thailand?
In terms of new condos, the starting price for a one bedroom, 22 sq meter property is around 1 million Baht (45,000 THB per meter squared).
Cost of a Thai Condo.
|Level||Price per m²|
|Upper-Mid-Range||฿90,000 – ฿119,999|
|High End||฿120,000 – ฿199,999|
|Luxury||฿200,000 – ฿299,999|
|Super Luxury||Above ฿300,000|
Can you own a condo unit forever?
The law does not provide that condominium units are strictly just good for fifty years. The law states that aside from being more than fifty years old, it must be obsolete and uneconomical plus the fact that majority of the unit owners are against its repair and restoration.
How can a foreigner buy a condo in Thailand?
There are no restrictions on nationality and every foreigner who can enter Thailand legally (there are no visa-class requirements) can buy and own a condo unit within the foreign ownership quota of the condominium, but every foreigner must personally qualify for ownership under section 19 of the Condominium Act.
Can Singaporean buy condo in Bangkok?
Foreigners are technically only allowed to wholly-own apartment units rather than land. This is the route taken by most Singaporean investors who buy luxury condo units in Bangkok. Even then, 51% of each building must be owned by Thais.
Can foreigners buy a condo?
Yes, absolute. According to R.A. 4726, foreigners can buy and register, under their own name, a condominium unit. The Condominium Certificate of Title (CTC) will be registered under the foreigner’s name.
Do I need a lawyer to buy a condo in Thailand?
Buying any Real Estate in Thailand be it a house or a condo requires the services of a reputable law firm. Once you have decided which real estate you are going to purchase, always consult a lawyer before signing any documents.
How much money do I need to move to Thailand?
You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This will allow you to live comfortably without breaking the bank. You could potentially live a lot cheaper, as low as $1,000 a month, but you would probably have a difficult time.
Can permanent residents buy property Thailand?
How Buying Property in Thailand Comes with a Residency Visa. The program allows foreign nationals to purchase designated property for a minimum of 10 million THB (~332,000 USD). This way, they gain residency through the Elite Easy Access scheme. You can apply between January 2021 and the end of December 2022.