WHAT IS THE CURRENCY IN THAILAND?
The currency is the Thai Baht (THB) which consists of 100 Satang. Copper coins are valued 25 and 50 Satang. Silver coins are in denominations of 1, 5 and 10 Baht. Bank notes are valued at 20, 50, 100, 500 and 1,000 Baht.
IN WHICH CURRENCY ARE REAL ESTATE PAYMENTS MADE?
You can make transfer payments in Thai Baht, Euro, Australian Dollars or US Dollars, which upon receipt will be exchanged into Thai Baht.
CAN NON-THAI RESIDENTS OWN PROPERTY IN THEIR OWN NAME IN THAILAND?
Yes. Under Thai law, foreigners can own up to 49 per cent of the registered area of a condominium property on a freehold foreign ownership basis.
A condominium unit can be owned exclusively in the foreigner’s own name or through a foreign company in which the foreigner owns shares. In addition, foreigners can lease a condominium unit for a registered lease term of 30 years with contractual options to renew the lease for multiple subsequent lease terms of 30 years each. The building will be registered as a Condominium on completion in accordance with the laws of Thailand relating specifically to condominiums.
Thai law provides foreigners who acquire units in a condominium with enhanced ownership rights and legal protections. As stated above, current condominium law states that 49% of the registrable area of the condominium can be
sold directly to foreigners. The remaining 51% of the registrable area of the condominium can be owned through leasehold.