Buying Property in Thailand as a Foreigner — Condo, Villa, Land: 2026 Legal Playbook

Condominium — the only clean freehold for foreigners

Under the Condominium Act B.E. 2522, a foreign natural person may own a condo unit outright in their own name, provided the total foreign-owned area in that building does not exceed 49% of sellable area. The Land Office refuses transfer once the quota is full — always verify remaining foreign quota BEFORE signing the SPA.

Purchase funds must arrive from abroad by inward telegraphic transfer in foreign currency, converted to THB at the Thai bank. The bank issues a Foreign Exchange Transaction form (FET, formerly Tor Tor Sam) for amounts over USD 50k, which the Land Office requires at transfer. Without it, no transfer, no exceptions.

Villa and house — four legitimate structures

You cannot own the land under a house, but you can own the house (structure) itself and hold the land through one of four routes. Each has trade-offs on cost, security of tenure, financing and exit.

• Registered leasehold — 30-year term, registered on chanote at Land Office; renewal clauses are contractual only (not automatically enforceable against a new owner) so pair with an option-to-buy
• Thai limited company — 51% Thai / 49% foreign; requires genuine Thai shareholders with real capital contribution and business substance, or the structure is a nominee arrangement and criminally void
• BOI-promoted company — under BOI privileges, promoted companies can own land for the promoted activity; land reverts if the promotion is cancelled
• Superficies (สิทธิเหนือพื้นดิน) — right to own structures on someone else's land, up to 30 years, registered on chanote; combined with a lease it is a robust villa structure

Why nominee company structures are dangerous in 2026

In 2024–2026 the Department of Business Development (DBD) and Land Department cross-checked over 22,000 companies in Phuket, Samui, Chiang Mai and Krabi where 49% foreign-held companies acquired residential land shortly after formation with no operating business. Where Thai shareholders could not evidence source of funds, share ownership was ruled nominee under Section 36 FBA, land ownership was cancelled, and directors faced criminal referral.

If your existing structure is a shell Thai Ltd with three passive Thai shareholders and no real business, restructure now. Options include converting to a long lease + superficies, buying out foreign shares against a lease-back, or dissolving and re-holding via BOI where the activity qualifies.

Due diligence you must run before any deposit

A THB 5–15k title search at Land Office is the cheapest insurance in Thai real estate. We run every deposit-stage DD in Phuket to verify:

• Chanote (title deed) authenticity and current owner
• Encumbrances — mortgages, servitudes, lease registrations, court orders
• Building permit and completion certificate for houses / villas
• Common-area management contract and outstanding fees for condos
• Foreign-quota status and remaining allocation (condos)
• Access road ownership — private easement or public road?
• Zoning and setback compliance under Phuket's 2020 comprehensive plan

The transfer day itself

Transfer happens at the local Land Office. Buyer, seller (or POA), FET form, chanote, and bank cheques for taxes and price all present. Transfer fees (2% assessed value) and specific business tax or stamp duty are split by contract — negotiate before signing. Your name is written on the back of the chanote in ink the same day; the physical chanote goes home with you.