Real Estate Business Foreign Ownership in Thailand

Foreign property ownership rules, condo limits, lease structures, and property taxes.

Updated November 2026DDES Accounting

The Property Market for Foreigners

Thailand’s real estate market is attractive, especially Bangkok, Phuket, Pattaya, and Chiang Mai. But the rules are different from what you’re used to. As a rule, foreigners cannot own land in Thailand. The few exceptions need government approval, such as a BOI-promoted company owning the land its project uses. What you can own, lease, or structure around that rule is where it gets interesting.

Ownership Options

Three ways foreigners can hold property in Thailand.

Condominiums

Foreigners can own condos outright under the 49% foreign quota per building. Freehold ownership, your name on the title deed.

Leasehold

Lease land or houses for up to 30 years at a time, registered at the Land Department. A renewal can be written into the contract, but the law does not guarantee it.

Thai Company

A company that is genuinely Thai-majority can own land. Its Thai shareholders must be real investors: holding shares for a foreigner (as a nominee) is a crime under the Land Code and the Foreign Business Act.

Property Taxes and Fees

Buying property: 2% transfer fee (usually split buyer/seller), 0.5% stamp duty or 3.3% specific business tax (whichever applies), and withholding tax on the sale, based on the official appraised value (1% of the price or appraised value, whichever is higher, for a company seller). Together, the fee and the tax or duty come to 2.5% to 5.3% of the property value, plus the withholding tax. The contract says who pays what; the seller usually pays the taxes.

Owning property: land and building tax applies annually, though rates are low (0.01-0.7% depending on property use). Rental income is subject to personal or corporate income tax, plus VAT if you’re registered and your rental revenue exceeds 1.8 million THB.

Buying property

2% transfer fee(usually split buyer/seller)
0.5% stamp dutyor3.3% specific business tax(whichever applies)
withholding tax on the sale, based on the official appraised value

Together2.5% to 5.3% of the property valueplus the withholding tax

Running a Real Estate Agency

Foreign-owned real estate agencies face Foreign Business Act restrictions since brokerage is a restricted service. Most foreign agents operate through Thai-majority companies. You’ll need a proper business license and should register with the Thai Real Estate Broker Association for credibility.

Accounting for real estate businesses involves tracking commissions, managing escrow-like arrangements, and handling the various transfer taxes on behalf of clients. We work with several property companies and understand the unique accounting requirements of this industry.

Related Business Types

BOI Promotion

Trading & Import/Export

Restaurant & Bar

We handle this for you: Company Registration

Portrait of a smiling team member with wavy dark hair tied half-up, wearing a navy blazer against a dark blue background.

Katwalee Matar (Lee)

Co-Founder & Managing Partner

Get in Touch With Our Team

Message Us on LINE

@ddescs

Chat on LINE

Message Us on WhatsApp

+66 80 695 5053

Chat on WhatsApp

Reach Us by Phone

+66 (0)2 165 0541 cs@ddes-accounting.comMon–Fri, 9:00–18:00

Call us