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Can I own 100 % of a condominium in Thailand ?
Buying a condominium in Thailand is perhaps the
simplest and easiest option available to foreigners.
The only restrictions on purchasing a condominium in
Thailand, are that the percentage of units sold to
foreigners cannot exceed forty nine percent (49%) of the
total number of units in the condominium block; and that
the funds used to buy the condominium have been remitted
from abroad and correctly recorded as such by a Thai bank
on a "Foreign Exchange Transaction Form".
A Foreign Exchange Transaction Form
This is an official bank document issued by the receiving
bank upon the receipt of foreign currency into your bank
account in Thailand. You must request a “Foreign
Exchange Transaction Form” from your bank when you are
remitting funds to Thailand for the purpose of purchasing
a condominium in Thailand, and the “Foreign Exchange
Transaction Form” must specify that the remittance is
solely for the purpose of purchasing a property in
Thailand - Code 5.22.
Purchases of condominiums in Thailand by
foreign individuals come under the jurisdiction of the
“Condominium Act B.E. 2535 (1992)”.
The owner of each
condominium in Thailand is issued with a certificate of
unit ownership. The certificate also has a statement
saying exactly what percentage of rights over the common
areas of the building each owner has.
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