Jump to content

49% Condo Ownership raised to 80%


Recommended Posts

I could be talking out of my ass here but I'm thinking what they may mean (again, I could be way off) is that a non-Thai can own 49% of the condos in a building. That percentage may have increased to 80%. As far as I knew, a non-Thai could own an individual condo without a sponsor.


I found this info but it could be shite too.


"I. Condominium:

Acquiring a condominium is gaining in popularity amongst foreigners. A condominium is a building that can have its separate portions sold to individuals or groups for personal property ownership.


Foreign purchasers are allowed under Thai law to purchase and own condominiums in Thailand.


There are five classes of criteria which alternative qualify foreigners as owners of condominium:


a) Holding a residency permit under Thai Immigration law, or


B) Permitted to stay in Thailand under the Investment Promotion law (BIO), or


c) A Thai registered entity with at least 51% of share held by Thai shareholder, or


d) Foreign juristic entity in receipt of a promotion certificate under the Investment Promotion law (BOI), or


e) A foreigner or foreign entity remitting a foreign currency into Thailand, or withdrawing money from Thai Baht account of the persons residing abroad, or withdrawing from foreign currency account."


The bold is where I drew my conclusions from.





Link to comment
Share on other sites

To my knowledge, and there has not been any talk on other forums about it, there has been no change in the 49% rule. There are a number of proposals floating around about liberalizing the foreigner land/condo ownership rules, but I don't think anything is close to being changed.


I know one guy that would thrilled if it were to change. He divorced his Thai wife last year and a part of the settlement, he got the condo in Pattaya but he can’t register it in his name because the building is already at the 49%. Before anyone gets excited about this, she got the million dollar house in the US where she lives.




Link to comment
Share on other sites

I was having dinner with some Thai friends, one being a Thai developer. He stated that the foreign ownership in condominiums has been raised from 49% to 80% for foreign ownerships. Is this now correct?


Have to agree with TH on this point as well. I have not heard of any changes on this specific rule.


Perhaps your Thai developer wishes they would raise quota. Condo projects are starting to finish now, and supply obviously exceeds demand.


The ruckus about changing the Foreign Business Act - so as to force foreigners to sell interests in company and property by changing the law to make structures that were legal now illegal - a few years back and now articles about DSI investigations of foreigners illegally owning property can't be good for business.



Link to comment
Share on other sites

Note your comments however, the Thai developer I know gets his buildings built and keeps them for rental back to Thais - so he has no direct interest if there are more foreign buyers.


When I meet up, I will verify the situation, maybe he has got it confused or has early knowledge of what may come.


All in all it is largely dependent on Thai politics, what may be true this year but can change the next year.


As with the crack down, this I believe is on titles own by some form of company structure, yes? I believe, that for years there have been warning signs posted stating the dubiousness of such types of purchases, and whilst it was common practice, the warning bells were clearly there.

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Create New...