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Buying a condominium, is perhaps the simplest and easiest option available to
foreigners. The only restrictions on purchasing a condominium, are that the
percentage of units sold to foreigners cannot exceed forty nine percent (49%) of
the total number of units in the condominium block; and that the funds used to
buy the condominium have been remitted from aboard and correctly recorded as
such by a Thai Bank on a Tor Tor Sam (TT3). Purchases of condominiums by foreign
individuals come under the jurisdiction of the Condominium Act B.E. 2535 (1992).
The owner of each condominium is issued with a certificate of unit ownership.
The certificate also has a statement saying exactly what percentage of rights
over the common areas of the building each owner has. |
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