Law & Regulations
An alien person, or alien juristic person, may own a condominium unit provided that such alien person or alien juristic person meet one of the following qualifications : (condominium act section 19)
- Alien person permitted to be a resident in the Kingdom under Immigration Law.
- Immigrants permitted to enter the Kingdom under BOI law.
- Registered Alien Juristic Person under Section 97 and 98 of the Registered Land Code to become Thai Juristic Person.
- Alien Juristic Person which has been qualified under the Announcement of The Revolution Committee No. 281 dated 24 November B.E.2515 and the Certificate of BOI granted under BOI Law.
- Alien person or Alien Juristic Person who brought foreign currency into the Kingdom or withdrew the money from their bank account in Baht currency of foreign residents, or withdrew their deposit bank account from foreign bank.
Each condominium may have an alien or juristic person as specified in section 19 hold title as the purchaser. Together this shallnot exceed 49 percent of the total area of all units in the condominium.
- holdings by an alien ownership (condominium act section 19 bis)
EVIDENCE FOR ALIENS IN THE PROCESS OF TRANSFERRING (CONDOMINIUM ACT, SECTION 19 TER).
- An alien who has been granted residence in the Kingdom of Thailand under the law on immigration. Does not need to show evidence of adopting a currency and / or foreign exchange transactions. However, they need to show evidence of residency within the kingdom of Thailand.
- Evidence of bringing foreign currency into the Kingdom or evidence of withdrawal from persons resident baht accounts outside the country or withdrawals from deposit accounts in foreign currency. Alien must provide the following for an amount no less than the units sale price :-
- * Foreign Exchange Transaction Form or
- * Certificate to the bank accounts of Baht for alien who has overseas residency
- An alien who has been granted residence in the Kingdom of Thailand under the law on immigration. Does not need to show evidence of adopting a currency and / or foreign exchange transactions. However, they need to show evidence of residency within the kingdom of Thailand.
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