Buy a Condo in Phuket as a Foreigner: Quota, Fees, Steps
Foreigners together may hold no more than 49% of the unit area of a condominium building. A buyer shows evidence that the money came in as foreign currency. The registration fee is 2% of the appraised value, and the seller pays 3.3% specific business tax when it applies.
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Check one number before paying a deposit: the share of the building already held by foreigners. Foreigners together may hold no more than 49% of the unit area of each condominium building.
The 49% foreign quota
The quota sits in section 19 bis of the Condominium Act.
Ask the seller for the foreign share of the building before you pay a deposit.
The Act text hosted by the Department of Lands carries amendment notes up to the 2008 No. 4 Act. Any later amendment is not confirmed.
Who can buy and how to show the money
A foreigner permitted to reside in Thailand under the immigration law may hold a unit. Section 19(5) also covers a foreigner who brings foreign currency into Thailand, or withdraws from a baht account of a person resident abroad or a foreign-currency deposit account.
A retiree on a long-stay visa is not named in either clause. Whether permission to stay counts as “residence” under the first clause is not confirmed. The money route in section 19(5) names no visa category.
The Act asks for evidence of the foreign money.
The bank paper that proves the money
The Act asks for evidence and names no form. Older guides still mention an “FX form”. The Bank of Thailand said in 2017 that it abolished that form. Banks now issue a credit or debit advice with the data the Bank of Thailand requires, as evidence for the customer.
So ask the receiving bank for its credit advice on the day the money lands. No Department of Lands text names the paper, so show the credit advice to the land office before you transfer.
Some banks keep the old label for their own paperwork. SCB asks for supporting documents on inward remittances from USD 50,000, including a Foreign Currency Transaction Form. That is SCB’s own procedure, not the Bank of Thailand rule. At Bangkok Bank you can state buying a condominium as the purpose of an incoming transfer.
Steps from deposit to transfer
- Check the building’s foreign share against the 49% cap.
- Confirm your category: residence permitted under the immigration law, or foreign currency brought in.
- Ask the building’s manager for the no-debt certificate. The officer registers a transfer when the unit is free of the section 18 debts, shown by that certificate. The manager must arrange its issue.
- Prepare the money evidence that the money came in as foreign currency.
- Go to the land office or branch for the area where the unit stands.
Land offices open Monday to Friday, except official holidays, from 08:30 to 16:30. That is the Department of Lands’ general statement, so confirm the hours of your branch before you go.
Transfer charges
The Department of Lands schedule gives these rates. It names the seller as the payer of specific business tax. It does not say who bears the registration fee or stamp duty, so put the split in the sale contract. Stamp duty is charged on a transfer with consideration, as a receipt; the page names no base figure, so the example below uses the price paid.
| Charge | Rate |
|---|---|
| Registration fee, condominium unit | 2% of the appraised value, minimum THB 20 |
| Specific business tax, paid by the seller | 3.3% of the higher of the appraised value or the sale price |
| Stamp duty | THB 1 for every THB 200, or part of THB 200 |
| Income tax withheld, company or juristic partnership as seller | 1% of the higher of the sale price or the appraised value |
| Income tax withheld, individual seller | Set on the appraised value by the Land Office formula; years held count at most ten |
Worked example: total transfer cost
The price and appraised value below are assumed, to show the arithmetic. The Land Office uses its own appraised value, which can differ from the price. Take a price of three million baht and an appraised value of two million baht.
| Item | Sum | Result |
|---|---|---|
| Registration fee, 2% of appraised value | 2% of two million baht | THB 40,000 |
| Specific business tax, if it applies | 3.3% of the higher figure, three million baht | THB 99,000 |
| Stamp duty, if no specific business tax | THB 1 per THB 200 of three million baht | THB 15,000 |
| Withholding, company seller | 1% of three million baht | THB 30,000 |
Seller sold within five years: registration fee plus specific business tax is THB 139,000, with no stamp duty. Seller held it longer: registration fee plus stamp duty is THB 55,000.
When specific business tax applies
Selling a unit within five years of acquiring it attracts specific business tax. So does a developer selling a unit as the registrant of the condominium. A sale registered more than five years after the seller acquired the property is outside the tax.
Stamp duty is not charged where the person receiving the payment pays specific business tax.
Leasehold limits
A lease of more than three years must be in writing and registered with the competent official. The registration fee for a lease is 1% of the rent over the lease term, or of key money, or of both together.
The Land Office does not register a lease longer than 30 years; a longer lease is cut to 30 years. A separate Act covers leases of more than 30 and up to 50 years for commerce and industry.
Renting is covered in Renting an Apartment in Phuket: Deposit, Lease, Bills and Where to Live in Phuket: The Areas Compared.
Step by step
- Check the building's foreign shareThe cap is 49% of the total unit area.
- Confirm your categoryA foreigner permitted to reside in Thailand under the immigration law may hold a unit. Section 19(5) covers a foreigner who brings foreign currency into Thailand.
- Get the no-debt certificateThe officer registers when the unit is free of section 18 debts, shown by the certificate. The manager arranges its issue.
- Prepare the money evidenceShow evidence that the money came in as foreign currency. Ask the receiving bank for its credit advice.
- Go to the Land OfficeGo to the office or branch for the area where the unit stands.
Not confirmed: Which bank paper the Land Office accepts as proof of the foreign money. Ask the land office, with the bank's credit advice, before you transfer. Who bears the registration fee and withholding. Settle it in the sale contract. The hours of your Phuket land office branch: ask before you go.
Common questions
Can a foreigner own a condo in Phuket outright?
A foreigner permitted to reside in Thailand under the immigration law may hold a unit. So may a foreigner who brings foreign currency into Thailand. Foreigners together may hold no more than 49% of the unit area of a building.
How much of a building can foreigners own?
Together they may hold no more than 49% of the total unit area of the condominium.
What proof of money does the Land Office look for?
The Act asks for evidence of foreign currency brought into Thailand, or of a withdrawal from the baht account of a person resident abroad. Banks issue a credit or debit advice as evidence of a foreign-currency transaction.
What does a condo transfer cost in total?
On an assumed price of three million baht and appraised value of two million baht, the registration fee is THB 40,000. Add THB 99,000 specific business tax if the seller sold within five years, or THB 15,000 stamp duty if not.
When is the Land Office open?
Offices open Monday to Friday, except official holidays, from 08:30 to 16:30. The transfer is at the office or branch for the area where the unit stands.
Who pays specific business tax?
The seller pays it, at 3.3%. It applies to a sale within five years of acquiring the unit and to a developer's sale.
What is the stamp duty on a transfer?
It is THB 1 for every THB 200, or part of THB 200. It is not charged where the person receiving the payment pays specific business tax.
How long can a lease run?
The Land Office does not register a lease longer than 30 years. A separate Act covers commercial or industrial leases of more than 30 and up to 50 years.
What is the no-debt certificate?
The officer registers a transfer when the unit is free of the section 18 debts, shown by a certificate from the juristic person. The manager arranges its issue.
Where do I register the transfer in Phuket?
At the land office or branch for the area where the unit stands.
Do I still need the FX form?
No. The Bank of Thailand said in 2017 that it abolished the form. A bank now issues a credit or debit advice as evidence.
Read next
General information checked against the sources listed above, not legal advice for your situation. Rules and office practice change; confirm with the immigration office or a licensed adviser before you act. See how guides are checked.
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