How to buy a property - Thailand

How to buy a property - Thailand

Buying a property in Thailand by foreigners is possible, but requires meeting certain conditions and procedures. Here are the basic steps and rules:

Buying an apartment (condominium):


1. **Selection of property**: Finding a suitable apartment in a building where foreigners can own up to 49% of all units.

2. **Checking the legal status**: Making sure that the selected property has the appropriate permits and documents.

3. **Signing the preliminary contract**: A preliminary contract is concluded and a deposit is paid.

4. **Transfer of money**: All funds for the purchase of the property must be transferred from abroad in foreign currency. The bank will issue a document confirming this transfer.

5. **Signing the final contract**: Signing the final contract and transferring ownership at the land office.

6. **Fees and taxes**: Paying the required fees and taxes.

Buying a house or plot of land:

1. **General rules**: Foreigners cannot directly purchase land in Thailand, but they can own a building on leased land.

2. **Land lease**: You can rent land for up to 30 years, with the possibility of extension.

3. **Creating a company**: Alternatively, you can create a company with a majority Thai share that will own the land.

4. **Checking the legal status**: Making sure that the land and building have the appropriate permits and documents.

5. **Signing the lease or purchase agreement**: Signing the agreement and transferring the rights at the land office.

6. **Fees and taxes**: Paying the required fees and taxes.

Being careful and carefully checking all documents and procedures is crucial to a successful property purchase in Thailand. The renowned Polish Real Estate Agency - Discover Thai based in Phuket, run by Mr. Marcin, will help you with this.