A condominium building is a multi unit residential building in which each apartment is owned separately by the people living in it, but also containing shared areas. The process of moving the legal ownership of a condominium unit from one person to another in Thailand is rather simple. Thailandlawonline offers various legal and online services relating to condominiums in Thailand. We have the knowledge to assist induvidual purchasers as well as real estate developers (condominium development and licensing procedure).

Foreigners are permitted to own a condominium unit freehold in their own name in Thailand. Any foreigner who can enter Thailand legally can buy a condominium. There is one major restriction which aims to limit foreign ownership of condominiums; not more than 49% of the total unit floor space of all units in a condominium building combined (or 'saleable area') can be foreign owned ( section 19 bis of the Condominium Act B.E.2522).

The remaining units 51% are restricted for foreign ownership and must be owned by Thais. There is no restriction on foreigners renting or leasing condos in Thailand (e.g. if the 49% foreign freehold ownership quota in a condominium project is sold out there is no restriction on registering the remaining 51% of the units in the condominium under a leasehold structure to foreigners).

To comply with the provisions in the Condominium Act the non-resident foreigner purchaser must remit foreign currency into Thailand for the purchase of a condominium unit. The handling bank in Thailand will transfer the amount into Thai baht and will issue a Foreign Exchange Transaction Form (FET-form) or credit note as proof of remittance of foreign currencies into Thailand. If the remittance from abroad is in Thai baht the bank will not issue the FET transaction form and the foreign purchaser will not comply with the provisions in the Condominium Act and unable to apply for ownership over a condominium unit. Without proof (FET form/ credit note) the Land Department will not permit the transfer of ownership to the foreign purchaser.

		Condominium Sale and Purchase agreements (review and preparation)
		Condominium Lease agreements (short or long term)
		Condominium unit transfer service for Phuket and Bangkok (other areas on request)

We can assist in drafting all kinds of condominium documents in Thai and English. We can also help reviewing documents and offer general legal service, including assistance and transferring the unit at the land department. We offer all our services at a fair price and we shall be pleased to provide you with an estimate when the details become known. Our condominium 'do it yourself' document preparation in Thai and English starts at 5,800 THB .

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