The rules concerning the ownership of condominium are similar to those concerning land. Every unit in a condominium is issued with a “Chanote” which is a form of ownership title deed. Dealings such as transfer of ownership are also registered at the Land Department.
Foreigners may own up to 49% of the area of a condominium project. There must be proof that fund for purchasing the condominium is brought into Thailand to purchase the unit. This condition is so stringent that the name stated as the sender of the fund must match the purchaser of the condominium exactly.
In any event condominium units may be leased by foreigners in the same way that they may lease land.
Currently on Koh Samui, there is little or no condominium project. We are of the opinion that due to the commercial factors coupled with the building height restriction on this island, it may not make sense commercially to develop condominiums on Koh Samui. Any enquiries regarding development and marketing of apartments, please contact us