Thailand Conveyancers

Condominiums are very popular with most expats and investors in Thailand. The reason being that many foreigners but condominium units in Bangkok, Pattaya, and villa’s in Phuket for the purposes of investment or for their retirement in Thailand.

Unlike your home country the rules with regard to property and property transfers are not the same as in your home country. There are rules but it is always best to seek advice from a registered law firm in Thailand to avoid the many pitfalls with regards to property and transfers in the Kingdom.

Renting a condo in Thailand is easy, buying a condo however can be a bit tricky. Any foreigner who can enter Thailand legally can buy and own a condominium unit in their own name in Thailand. There is one major restriction which aims to limit foreign ownership of condominiums in Thailand; not more than 49% of the total unit floor area of all units in a condominium building combined (or ‘saleable area’) can be foreign owned. In case of 100 equal units, 49 can be foreign owned, the other 51% must be owned by Thai nationals.

There are rules to the transfer or conveyancing of property in Thailand. These are a few of those rules. Remember that you should always speak to an attorney before purchasing any real estate in Thailand.

1. You must buy the condo with foreign currency which you have sent from abroad;

2. To comply with the Condominium Act you must provide the FET transaction form before you can transfer;

3. The money must be proved to have been sent from your overseas account to your Thai account.

There are numerous other rules with regards to property transfers in Thailand and as stated before, it is always wise to consult a registered attorney better yet a property conveyancer  for all the rules to transfering any real estate in Thailand and the requirements of the Thai Land Department. Speak to our property conveyancers in Thailand today about what is needed for your property purchase!

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