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An alien may have ownership in a condominium unit in Thailand
under 2 principles provided in the Condominium Act B.E. 2522 (1979)
which was amended by the Condominium Act (No.2) B.E. 2534 (1991)
and (No.3) B.E. 2542 (1999);
1. Being an alien under section 19, in any of the following prescribed
categories, via:
| 1) |
Being an alien permitted to have a residence
in the Kingdom under the law on immigration; |
| 2) |
Being an alien granted permission to enter into the Kingdom
under the law on promotion of investment; |
| 3) |
Being a juristic person deemed by section 97 and 98 of
the Land Code and registered as a juristic person under the
laws of Thailand. |
| 4) |
Being a juristic person which is an alien under the Alien
Business Operations Act B.E. 2542 (1999) and is granted an
investment promotional certificate under the law on promotion
of investment; |
| 5) |
Being an alien or a juristic person deemed by law to be
an alien, who brings foreign currency into the Kingdom or
withdraws the money from a non-resident Bath account or from
a foreign currency account for the purpose of condominium
purchase. |
2. Level of ownership by such alien or juristic person under
section 19, in a condominium shall be collectively no more than
forty nine percent of total space of all units in that condominium
by the period of registration.
However, condominium units which are to be owned by such alien
or juristic person in a proportion higher than forty nine percent
must be located in the area of Bangkok Metropolis, municipality
or such other local administration as prescribed in the Ministerial
Regulations, with the piece of land for the condominium and other
services totaling no more than five Rai, and must have been registered
for no less than one year prior to alien or juristic person ownership
in the aforesaid case.
Such ownership prescribed in the above paragraph shall be in
effect until Aril 28, B.E. 2547 (2004). After this date, any alien
ownership of any condominium will be restricted to forty nine
percent, while any alien ownership in a proportion higher than
forty nine percent occurred before April 28, B.E. 2547 (2004)
will continue indefinitely. and the application for ownership
in condominium units in this case must be in accordance with the
rules, procedures and conditions prescribed in the Ministerial
Regulation under section 19 of the Condominium Act B.E. 2522 (1979)
which was amended by the Condominium Act (No.3) B.E. 2542 (1999),
and the Ministerial Regulation concerning this matter has not
yet been put into force. However, once such an alien has acquired
condominium units, he/she would be able to own in perpetuity.
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