Can a Business Own a Condo(s) in Thailand?
Discover the regulations surrounding business entities purchasing condominiums in Thailand. From legal requirements to compliance with foreign ownership laws, learn how businesses can invest in Thai property and navigate the buying process effectively
Author: Mark Kreitzman - over 20 years experience investing in Thailand real estate, crypto/blockchain and cybersecurity expert
5/3/20241 min read
Yes, a business entity can purchase a condo in Thailand under certain conditions. However, there are regulations and restrictions that need to be considered:
Type of Business Entity: The business entity must be registered and legally recognized in Thailand. This includes limited companies, partnerships, and other legal entities permitted to conduct business in the country.
Purpose of the Purchase: The condo must be purchased for commercial or investment purposes related to the business. It cannot be used as a residence for employees unless it is part of a larger commercial property development.
Compliance with Foreign Ownership Laws: Similar to individual ownership, the condo must be in a building where at least 51% of the total unit space is owned by Thai nationals. The business entity must ensure compliance with this regulation before purchasing the condo.
Legal Procedures: The business entity must adhere to legal procedures and documentation requirements when purchasing the condo. This may include providing proof of the business's registration, financial statements, and other relevant documents.
Tax and Regulatory Considerations: Business entities should be aware of tax implications and regulatory requirements associated with owning property in Thailand. It's advisable to consult with legal and financial advisors to ensure compliance with all applicable laws and regulations.
Business Visa and Work Permit: If the business intends to use the condo for employee accommodation or office space, relevant visas and work permits may be required for employees residing or working in Thailand.
Overall, while it is possible for a business entity to purchase a condo in Thailand, it is essential to understand and comply with the legal and regulatory requirements. Seeking professional advice and guidance can help navigate the process smoothly and ensure compliance with Thai laws.
