According to Thai law, foreigners may own 49 percent of the aggregate sellable unit space, while the remaining 51 percent must be owned by either Thai nationals or majority owned (51 percent) Thai Companies.
Once the 49 percent foreign ownership quota has been achieved, overseas buyers wishing to make a purchase can do so via a Thai company structure.
Certain foreign investors are allowed to own a unit in a condominium, provided that the total foreign ownership of the building in question does not exceed 49% of the total units in the condominium. The foreign investors which are entitled to condominium ownership under this rule are:
(1) foreign investors permitted to reside permanently in Thailand under the Immigration Act;
(2) foreign investors permitted to enter Thailand under the Investment Promotion Act;
(3) the Thai entities set out above (see introduction) which are deemed to be "foreign" investors;
(4) foreign entities that are granted a certificate of promotion under the Investment Promotion Act; and
(5) other foreign investors, both natural and juristic persons, who have brought foreign currency into Thailand to purchase condominium units.
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