Real estate law is also an extremely delicate matter. Our law firm provides full assistance, consultancy with our expert highly specialised real estate lawyer, and information including conveyancing, transfer fees, tax, local regulations, assistance at the Land Office Departments all around Thailand guaranteed by our well known, trustful lawyer and law firm.

TO BUY A HOUSE IN THAILAND

Many foreigners are interested in making a property purchase in Thailand. The leasing or purchasing of land, a house, a villa or a condominium unit, are some options available.

A foreign national cannot, by law, purchase land in his own name in Thailand. A foreign national can legitimately purchase a building (as a house) in Thailand. He/she can resell it, rent it and bequeath it to his/her heirs. There is no time limit, but the seller should sign an agreement that the buyer will be allowed to resell etc. The value of a house will be the one declared and registered at Land Office and it is distinguished from the value of the land. To register a building in the name of a foreign national the Land Office does not require (for now) a bank statement proving that the funds have been transferred from abroad. The transfer fees if the owner of the land has purchased at least 5 years before the sell of the building are: 2% of the declared value, 0,5 for stamps plus withholding tax that cannot be calculated without previously submit to Land Office all and any details.

This information have been provided by the Head of the Pattaya's Land Department, Different Land Offices, located in different provinces, might apply different requirements and rules. Please note that legal issues are delicate and might present several aspects. Giving simple answers to what appear to be simple questions can be dangerously misleading, especially via text or email. The assistance of a qualified lawyer in Thailand is essential.

RESTRICTIONS ON FOREIGN OWNERSHIP IN THAILAND

According to the Thai law, (Condominium Act) foreigners (both juristic persons and individuals) are allowed to purchase condominium units in Thailand, provided that the foreign ownership of the whole project does not exceed, in aggregate, 49% of the total area, and that the foreign buyer presents the requisite documents/evidence as requested by the pertinent Land Office. It is important to know that, the funds for the purchase of the condominium unit must be remitted into Thailand from abroad in a foreign currency.
Furthermore, at the moment of arranging the transfer of the funds, the buyer shall specify the purpose of the remittance as “purchase of condominium unit/s”. The funds must be remitted by, or on behalf of, the person who will be registered as the new owner of the condominium unit.
Please note that to execute the transfer and register the condominium unit under foreign name, the buyer must present a declaration from the bank for the amount corresponding to the total price declared for the sale at Land Office (TT3).
The foreigners who purchases a condominium unit in Thailand will be allowed to remit abroad (tranfer) only the sum declared for the sale of the unit at the Land Office. Whether purchasing a condominium, villa, land or a house, it is suggested that prior to making a purchase, please contact or visit a lawyer or solicitor to assist with your acquisition of the property.