What are the requirements for a foreign individual or organization to purchase a condominium in Thailand?
A :
In order to purchase a condominium certain requirements must be met, for example:
A foreigner has permanent residence in Thailand in accordance with Thai Immigration Law, or
A foreigner is allowed into or resides in Thailand in accordance with Thai Investment Promotion Law, or
A foreign legal entity is in accordance with the Announcement of the Foreign Business Act BE 2542 (AD 1999), and has been granted an Investment Promotion Certificate in accordance with the Investment Promotion law, or
A foreigner or foreign legal entity brings foreign currency into Thailand from their deposit account. This requirement is normally met by the presentation of a Foreign Remittance Certificate (formerly called the Tor-Tor 3) which is provided by the bank receiving an incoming remittance from abroad.
