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| Foreigners are allowed to purchase condominiums in Thailand. There is a maximum quota of 49% foreign ownership ratio which is calculated on an area basis. In order to purchase a condominium, foreigners are required to transfer funds from overseas with funds denominated in foreign currency. Once the funds are transferred, they are required to be marked as a condominium purchase and needs to be verified through obtaining an “FET – Foreign Exchange Transfer” or what was originally termed "Tor Thor 3" document from the receiving bank in Thailand. The FET document is required when transferring the Title Deed at the Land Department for foreigners. |
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