Selling a condo in Thailand as a foreigner: the quota, the four taxes, the Land Office day, and getting your money home.
Buying a Thai condo is well-trodden ground — selling one as a foreigner is where owners get caught out. The deal lives or dies on three things: proving your unit is clean and in the foreign quota, settling the government taxes correctly at the Land Office, and having the paperwork to send the proceeds out of Thailand. This plain-English guide walks the whole sale — pricing, agent vs private, the deposit and contract, the four charges and who customarily pays them, transfer day, and repatriation. Unbiased, never paid placement, and not legal, tax or financial advice.
Get a debt-free letter and confirm your unit’s foreign-quota status, price to recent sold comps (resale usually sells under developer price), agree in writing who pays which of the four Land Office charges, transfer the Chanote on the day in exchange for cashier’s cheques, and use your original FET to repatriate the proceeds. The selling is easy; the quota, the tax split and the FET are where deals stall.
01
Before you list: confirm the unit is sellable & clean
The fastest sales are the ones where the paperwork is ready before a buyer ever appears. Three checks matter most. First, title: you should hold the unit in freehold with the original Chanote in your name. Second, the debt-free letter: the condominium juristic person (the building’s management) must certify that you owe no outstanding common-area fees or sinking-fund contributions — the Land Office will not transfer the title without it. Third, the quota: ask the juristic person for a letter stating the building’s current foreign-ownership (49%) position, because whether your buyer can be a foreigner depends on it.
Dig out your own purchase file too — the original sale-and-purchase agreement, the transfer receipts, and especially the FET / Tor Tor 3 from when you bought. You will need these for the tax calculation and, later, to send your money home.
02
The foreign quota decides who can buy it
Every Thai condominium can sell up to 49% of its total floor area to foreigners in freehold; the remaining 51% must be Thai-owned. This single rule shapes your sale. If your unit currently sits inside the foreign quota, you can sell it to either a foreigner or a Thai — and the foreign-availability is a genuine selling point that can command a premium from overseas buyers. If the building’s foreign quota is full except for your unit (i.e. your unit is part of the 49%), selling to another foreigner keeps the quota balanced; selling to a Thai frees quota space.
Why your buyer’s nationality changes the deal
Foreign buyer — must remit funds from abroad and get their own FET; the building must have quota room for them
Thai buyer — no FET, no quota constraint; often a faster, simpler close
03
Pricing: anchor to sold comps, not asking prices
Thailand’s resale market is competitive because developers keep launching new off-plan supply, so older resale units frequently sell below their original developer price. Price to recently completed sales of comparable units — same building or block, similar floor, size, view and furnishing — not to the hopeful asking prices of units that have sat unsold for months. Weigh the building’s age and management quality, whether the unit is in the foreign quota, the furnishing, and how quickly you need to sell. Overpricing is the number-one reason a unit lingers; a fair price with clean paperwork moves fast.
04
Agent or private sale?
Both are legitimate. The trade-off is convenience versus commission — and convenience matters a lot if you are selling from overseas.
Using an agent (~3% + VAT)
Prices, photographs and lists across Thai portals
Handles viewings & foreign-language buyers
Shepherds the Land Office paperwork
Commission paid on completion; often non-exclusive
Selling privately
Saves the commission
You market, negotiate & draft the contract
You manage the transfer logistics yourself
Harder to run from abroad
Either way the contract, debt-free letter and tax settlement still go through the same Land Office process. An agent is a convenience, not a legal requirement — and a lawyer is worth far more than an agent for the legal paperwork, especially on a private sale.
05
The deposit & sale-and-purchase agreement
Once you accept an offer, the buyer typically pays a reservation deposit to take the unit off the market, followed by a signed sale-and-purchase agreement setting the price, the completion date, the tax-and-fee split, and what happens if either side defaults (usually the buyer forfeits the deposit, or the seller repays it double). This contract is where you must nail down who pays which government charge — do not leave it to “we’ll sort it on the day.” If your buyer is foreign, the agreement should give them enough time to remit funds from abroad and obtain their FET before completion.
06
The four charges at the Land Office
On transfer day the Land Office assesses up to four government charges. They are calculated mostly on the government appraised value (which can differ from your sale price), and the split between buyer and seller is whatever your contract says.
Transfer fee — 2% of the appraised value (commonly split 50/50, but negotiable)
Specific Business Tax (SBT) — 3.3% of the higher of appraised or sale price, if you have owned the unit under 5 years (or are not in the house book); usually the seller’s cost
Stamp duty — 0.5% of the registered value, charged instead of SBT when SBT does not apply
Withholding (personal income) tax — computed on appraised value via a holding-period table and progressive rates; remitted in the seller’s name
The 5-year line matters
Hold the unit 5 years or more (with your name in the house book) and the 3.3% SBT is replaced by the much smaller 0.5% stamp duty. If a sale is close to the five-year mark, the timing can be worth real money — have a lawyer run both scenarios.
07
How the withholding tax actually works
This is the charge that confuses sellers most, because it is not a flat capital-gains tax on your profit. The Land Office takes the government appraised value, subtracts a percentage deduction set by how many years you have held the unit (longer holding = larger deduction), divides what’s left by the years of ownership to get a notional yearly income, applies Thailand’s progressive income-tax rates to that, then multiplies back up by the years held. The result is withheld at transfer and paid to the Revenue Department in your name.
Two consequences worth understanding: because it is based on appraised value and a holding table rather than your actual gain, you can owe withholding tax even on a near-breakeven sale — but the figure is also frequently lower than owners fear. The amount withheld may be creditable against, or the basis for, your Thai income-tax position, so keep the receipt. Get the exact number run for your unit before the day — the Land Office or your lawyer can do it.
08
Transfer day at the Land Office
Completion happens in person at the local Land Office with jurisdiction over the building. Bring (or have your representative bring):
Your passport + copy, matching the name on the title
The original Chanote (title deed) for the unit
The juristic person’s debt-free certificate and foreign-quota letter
The signed sale-and-purchase agreement
The buyer’s FET (if the buyer is foreign)
Cashier’s cheques for the price and the tax/fee payments
The price and the taxes are settled at the office, the registrar records the unit into the buyer’s name, and you leave with your net proceeds. Can’t attend? A properly drafted, notarised power of attorney (Tor Dor 21) lets a trusted lawyer or representative complete on your behalf — standard for overseas sellers, though the Land Office checks POAs closely. See document legalization & notary.
09
Getting the money out: repatriation
Thailand lets you send sale proceeds abroad, but the bank wants a clean trail. Your strongest evidence is the FET / Tor Tor 3 from when you bought — it proves foreign currency came in to acquire the unit and supports sending an equivalent sum back out. For transfers at or above the reporting threshold, the remitting bank issues a fresh outward FET. Proceeds above your original inbound amount (your genuine gain) can usually still be remitted but may draw more questions and paperwork.
Repatriation, the practical way
Keep every FET and Land Office receipt from purchase and sale
Warn your Thai bank in advance that a large in-then-out transfer is coming
Plenty of owners sell a Thai unit while living in another country. The keys are a local agent or lawyer you trust, a correctly worded and notarised power of attorney so completion can happen without you flying in, and a clear plan for receiving and then remitting the proceeds through your Thai bank account (keep it open until the money is out). Build extra time into the timeline for document legalisation, courier delays and the buyer’s fund-remittance, and keep digital copies of every signed page.
11
Common mistakes
Don’t…
list before you have the debt-free letter and quota position in hand
leave the tax/fee split vague — put it in the contract
price to asking prices instead of recent sold comps
assume the withholding tax is a flat capital-gains tax on your profit
forget the buyer needs their own FET — yours does not transfer
throw away your purchase FET — it is your ticket to repatriate later
close your Thai bank account before the proceeds are out of the country
sign a power of attorney that is too broad or not notarised correctly
12
Frequently asked
Can a foreigner sell a condo in Thailand?Yes. A foreigner who legally owns a Thai condominium unit in freehold can sell it to anyone eligible to buy it — another foreigner (if the building stays within its 49% foreign-ownership quota) or a Thai national (no quota limit). The sale is completed by transferring the title (Chanote) at the local Land Office, where the buyer pays the price and both sides settle the government taxes and fees. The most important preparation step is proving the unit is clean: that it is freehold, that the condominium juristic person has issued a debt-free letter, and — if your buyer is a foreigner — that the unit sits inside the foreign quota and that the buyer can produce a Foreign Exchange Transaction (FET) form for the funds. None of this is legal or tax advice; confirm specifics with a licensed Thai lawyer and the Land Office, as rules and office practice change.
What taxes and fees are charged when I sell, and who pays them?Four charges are assessed at the Land Office on the day of transfer: (1) a transfer fee of 2% of the appraised value; (2) either specific business tax (SBT) of 3.3% of the higher of appraised or sale price if you have owned the unit less than 5 years (or are not registered in the house book), or stamp duty of 0.5% if SBT does not apply; and (3) personal income withholding tax, calculated on the appraised value using a holding-period deduction table and Thailand's progressive rates. Who pays what is negotiable and stated in your contract — a very common split is for the seller to bear the withholding tax and SBT/stamp duty while transfer fee is shared 50/50, but everything from 'buyer pays all' to 'seller pays all' exists in the market. Always pin the split down in writing before you sign.
How is the withholding (income) tax on the sale calculated?It is not a flat capital-gains tax. The Land Office uses the government appraised value (not necessarily your sale price), subtracts a percentage deduction that depends on how many years you have held the unit (more years = bigger deduction), divides the remainder by the number of years of ownership to get a notional annual income, applies Thailand's progressive personal income-tax rates to that figure, then multiplies back by the years held. The result is withheld at transfer and remitted to the Revenue Department in your name. Because it is computed on appraised value and a holding-period table — not on your actual profit — a sale can owe withholding tax even when you barely broke even, and conversely the figure is often lower than people fear. A lawyer or the Land Office can run the exact number for your unit before the day.
What is the FET form and why does my buyer keep asking about it?The Foreign Exchange Transaction form (often still called the Tor Tor 3) is the bank document proving that foreign currency was brought into Thailand and converted to baht to buy the unit. A foreign buyer needs an FET (for sums at or above the reporting threshold) to register their own freehold ownership at the Land Office — it is part of how Thailand polices the 49% foreign quota. So when you sell to another foreigner, your buyer must remit their funds from abroad in foreign currency and obtain a fresh FET in their name; your old FET does not transfer to them. If you sell to a Thai buyer, no FET is required for the purchase. Keeping your own original FET from when you bought is still useful: it is the cleanest evidence supporting your right to send the sale proceeds back out of Thailand later.
Should I use an agent or sell privately?Both work. A good agent prices the unit, photographs and lists it across the Thai portals, handles viewings and foreign-language enquiries, and shepherds the Land Office paperwork — typically for a commission of around 3% (plus VAT) of the sale price, paid on completion. Selling privately saves that commission but puts marketing, negotiation, contract drafting and the transfer logistics on you, which is harder from abroad. Many owners list with one or two agents on a non-exclusive basis while also placing the unit on the major portals themselves. Whatever route you choose, the contract, the debt-free letter and the tax settlement still go through the same Land Office process — the agent is a convenience, not a legal requirement.
How do I price my condo to actually sell?Anchor to evidence, not hope. Look at recent completed transactions for similar units in the same building or block — same floor band, size, view and furnishing — rather than the optimistic asking prices of units that have sat unsold for a year. Resale condos in Thailand, especially older buildings, often sell below their original off-plan or developer price, and the resale market is competitive because developers keep launching new supply. Factor in the foreign-quota premium (a unit available in the foreign quota can command more from overseas buyers), the building's age and management quality, and how quickly you need to sell. Overpricing is the single biggest reason a unit lingers; a realistic price with clean paperwork sells far faster.
How do I get the money out of Thailand after selling?You can repatriate sale proceeds, but banks want a clean paper trail. The strongest position is to show the foreign currency you originally brought in to buy the unit — your purchase FET/Tor Tor 3 — alongside the sale documents, which supports remitting an equivalent amount back out. For amounts at or above the reporting threshold the remitting bank issues a new outward FET. Proceeds beyond your original inbound amount (i.e. genuine gain) can usually still be sent but may attract more questions and documentation. Practical tips: keep every FET and Land Office receipt, tell your Thai bank in advance that a large incoming-then-outgoing transfer is coming, and get advice on timing and on any tax in your home country on the gain. See our repatriation guide for the mechanics.
What documents do I need on Land Office transfer day?Typically: your passport and a copy (matching the name on the title); the original title deed (Chanote) for the unit; the condominium juristic person's debt-free certificate and a letter confirming the foreign-quota position; the signed sale-and-purchase agreement; and proof of the buyer's funds (the buyer's FET if they are foreign). If you cannot attend in person, you can grant a notarised, properly worded power of attorney (Tor Dor 21) to a trusted representative or lawyer — a very common arrangement for overseas sellers, though the Land Office scrutinises POAs carefully. The cashier's cheques for the price and the tax/fee payments are exchanged at the office, the registrar updates the title into the buyer's name, and you walk out with your net proceeds. Confirm the exact checklist with the specific Land Office, as requirements vary.
Primary and official sources are cited above. Government rules, fees and procedures in Thailand change over time and vary by office; always confirm current requirements with the relevant authority before relying on them. BAANLYY never takes paid placement in editorial content.
General information only — not legal, tax, immigration or financial advice. Thailand’s condominium-resale rules, the 49% foreign-ownership quota, Foreign Exchange Transaction (FET / Tor Tor 3) requirements, Land Office transfer fees, specific business tax, stamp duty, personal income withholding-tax calculations and holding-period deductions, debt-free-letter and power-of-attorney practice, and foreign-currency repatriation rules change over time and are applied case by case by individual condominium juristic persons, Land Offices, the Thai Revenue Department, commercial banks and the Bank of Thailand. Appraised values, tax splits and net proceeds vary by unit and by negotiation. Confirm current details and run your exact figures with a licensed Thai property lawyer, a qualified tax adviser, your bank and the relevant Land Office before relying on anything here. BAANLYY never takes paid placement.