Should I Buy a Condo Under a Foreigner or Thai Name?

One big decision that many Thai-foreign couples need to decide on is whose name the condo should be registered under. While it is possible to register the condo under a foreigner’s name if the building’s foreign freehold quota is available and the Condominium Act requirements are met, there are several factors to consider.

A Thai citizen may be able to get a mortgage from a Thai bank if they meet the bank’s credit, income, employment, and affordability requirements. These requirements vary by bank and loan product, so some foreigners decide to register their condo under their Thai partner’s name.

It may make the process easier and monthly mortgage payments can be made. But for higher-priced condos, the Thai partner will usually need enough provable income and may need a down payment to qualify for the loan, which could prove an issue for many couples.

Next you have to consider that, if a condo is registered only in your Thai partner’s name, paying for it does not automatically make you the legal owner. Money given to a Thai partner may be treated as a gift or, if you are married, raise marital-property issues, but it does not by itself register any ownership right in your name.

This means that any condo funded this way will generally remain under the control of the registered owner unless you have a separate legally enforceable arrangement or a valid marital-property claim. Get independent legal advice before paying for a condo that will not be registered in your name.

Putting the property in a Thai person’s name might be the choice for some couples, and in the end it comes down to trust and the stability of your relationship. It is true that some people have been burnt and lost their property, but there are also many who are reaping the benefit of purchasing this way.

In the end, if you aren’t sure then rent. You can save up over time, compare foreigner-ownership options, and look into foreigner mortgage options, which exist but are limited and usually come with stricter terms than mortgages for Thai nationals.