Let’s look at the steps involved 🤗
1. Basic Legal Conditions
Foreign Quota (49%): Foreigners can own a maximum of 49% of the total saleable area of a condominium building through freehold ownership. The remaining 51% must be owned by a Thai national or a Thai legal entity.
Source of Funds: Funds must be transferred from foreign currency into Thailand for the purchase of the condo. Clear evidence from the bank is required.
2. Important Documents Required
For the Buyer (Foreigner):
2.1.1 Original Passport
2.1.2 Foreign Currency Declaration Form (FET) or Bank Transfer Certificate (for amounts exceeding $50,000 or according to bank criteria)
2.1.3 Family Status Documents: Marriage Certificate/Divorce Certificate (If married, a letter of consent is required)
For the Seller/Project:
2.2.1 Certificate of Debt Freedom (Certificate of no debt from the juristic person)
Certificate of ownership proportion from the juristic person (confirming that the foreign quota has not exceeded 49%)
2.2.2 Sale and Purchase Agreement (SPA)
2.2.3 National ID card and house registration (if the seller is an individual)
2.2.4 Original land title deed (condominium ownership certificate)
2.2.5 Land and residential property tax receipts from the unit for sale. **If land tax is not paid, the transfer of ownership at the Land Department cannot be completed.**
Important Note: If the buyer does not go to the Land Department themselves, a power of attorney (Form 21) certified by the embassy or Notary Public in the foreign country is required.
3. Money Transfer Procedure (Key)
For the Land Department to accept the transfer of ownership, foreigners must follow these steps:
Transfer money from abroad: Transfer money to a bank account in Thailand (your own account or the seller’s account).
Specify the purpose: It must be clearly stated on the transfer document that it is “for the purchase of a condominium.” [Project Name] Unit Number [Unit Number]
Requesting FET Document: Once the funds are received in a Thai bank account, request a Foreign Exchange Transaction (FET) document to present at the Land Department. A certificate or credit note from the bank is also required.
4. Fees and Taxes (Updated 2026)
In 2026, the government still has measures to stimulate the real estate market, affecting the following costs:
Transfer fee: Normally 2%, but if the price is less than 7 million baht, it may be reduced to 0.01% (check the conditions and the end date of the measure again; it is usually extended annually).
Withholding tax: Calculated based on the appraised value and holding period (usually paid by the seller).
Specific business tax: 3.3% of the selling price or appraised value (for holdings less than 5 years) or stamp duty 0.5% (for holdings more than 5 years).
5. Procedures on the Transfer Day at the Land Department
Document verification: Officers check the FET document, Quota certificate, and personal documents.
Signing: The buyer and seller sign the sales contract at the Land Department.
Payment of fees: Pay the transfer fees and taxes as agreed upon in the sales contract.
Change of name on title deed: The official will endorse the title deed with the foreign national’s name and hand over the original title deed (along with the sales contract, Form Tor.13) to the new owner.