Even though the cabinet recently resolved to green light the amendment of the controversial Draft Foreign Business Act, the law governing foreigners’ ability to obtain property in Thailand is still uncertain. However the property ownership laws of Thailand are somewhat nationalistic, whereby foreigner can legally secure property only in certain ways. And the ownership of a condominium is considering the simplest way.

Normally, there are two ways to legally purchase condominium in Thailand. Foreigner may purchase a freehold condominium or take leasehold option.

According to the jurisdiction of Condominium Act (No. 3) B.E. 2542 (1999), in each condominium, foreigners may have ownership in a condominium unit, when added together, must not exceed forty nine percent (49%) of the total space of all units in that condominium. The evidence of bringing foreign exchange into the country to buy the condominium has to be presented and recorded in Foreign Exchange Transaction Form (Tor Tor Sam) provided by Thai Bank.