Thailand’s 20-year-old Condominium Act is obsolete

Thailand’s 20-year-old Condominium Act is obsolete – www.property-report.com, May 12, 2011
…Under the 1991 Condominium Act, foreigners are allowed to purchase freehold condominium units at up to 49 per cent of the total saleable area of a building, but as non- residents they must transfer the funds to pay for the property from overseas. In order to transfer ownership of property at the Lands Department, a non-resident is required to provide a Foreign Exchange Transaction Form,a document certifying the transfer of funds from overseas in a foreign currency for the purpose of purchasing the property…

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