Day: March 5, 2020

Under Thai law, foreigners (which includes natural persons, foreign registered companies or foreign majority owned Thai registered companies) can own up to forty-nine percent (49%) of the space of all units in a registered condominium. In this article we shall discuss several key matters which foreign investors should be mindful of before purchasing a condominium unit, including the sale & purchase contract, applicable fees and taxes, due diligence, and documents required to register the transfer of ownership at the Land Department. Foreigners should also be aware that there are two types of residential apartment buildings in the Kingdom, these are: condominiums registered and licensed with the Land Department, these offer ownership over the separate condominium units [Freehold]; and Apartment buildings which are not licensed as a condominium thus not offering individual ownership over the units within them [Leasehold]. Foreign buyers […]