Thailand real estate, visa & services glossary
58 terms defined, grouped by category. Foreign Quota, Chanote, leasehold, Elite Visa, LTR, BOI 7.32, House Tax, escrow, property management — all the terminology you need to understand expat real estate in Thailand.
Thailand real estate
- Foreign Quota (FQ)Rule under the Thai Condominium Act (B.E. 2522, Section 19) that caps foreign ownership of the total floor area of a condominium building at
- Chanote / Title Deed (Nor.Sor.4)The only form of full and absolute ownership title recognized in Thailand, equivalent to a notarized property deed in Europe. The Chanote (o
- Nor.Sor.3 Gor (NS3G)A recognized title of possession, one tier below Chanote. NS3G is derived from aerial cadastral surveys without on-site GPS measurement — ph
- Sor.Kor.1 (SK1)Simple cadastral declaration made by the occupant before 1972 — has no legal property value. Land registered as SK1 cannot be sold, mortgage
- Leasehold (30 + 30 + 30 years)A long-term lease frequently used by foreigners to acquire land or a villa in Thailand, circumventing the prohibition on direct property pur
- FreeholdFull and absolute ownership (as opposed to leasehold). In Thailand, only a Thai national or a foreigner via Foreign Quota in a condominium c
- Usufruct (Life rights)A temporary real right that grants its holder the use and enjoyment of an immovable property without owning it. In Thailand, usufruct may be
- Co-OwnershipFormal condominium co-ownership regime in Thailand, governed by the Condominium Act B.E. 2522. The Co-Owner holds an exclusive share of priv
- Thai Company Limited (TCL)A Thai limited liability company governed by the Civil and Commercial Code, equivalent to a French SARL. Composed of at least 3 shareholders
- Nominee structureAn illegal arrangement in Thailand involving the use of Thai nominees (employees, friends, real estate agents) to formally hold 51% of a com
- BOI PromotionAn investment regime managed by the Board of Investment (BOI) that grants fiscal and operational privileges to Thai companies in priority se
- BOI scheme 7.32Sub-category of the BOI programme dedicated to Special Industries activities (digital services, R&D, IT, biotech, agritech). Scheme 7.32 all
- Land Department / Land OfficeThai government administration responsible for managing the cadastre, property titles, and real estate transactions. The Land Department (กร
- Building Permit (Construction)Thai building permit issued by the local municipality (Tessabaan) or the Tambon Administrative Organization (TAO). It takes the form of docu
- EIA (Environmental Impact Assessment)Mandatory environmental impact assessment for sensitive construction projects in Thailand: hotels with more than 80 rooms, coastal projects,
- Sinking Fund / CAM FeeThai condominium maintenance charges paid by Co-Owners. The monthly CAM Fee covers routine upkeep (security, housekeeping, landscaping, pool
- Title Deed TransferProcedure for transferring the property title at the Land Office on the day of signing the sales agreement. Both parties (or their authorize
Thailand visa
- Thailand Privilege (Elite Visa)Premium long-stay visa managed by Thailand Privilege Card Co., a public company under TAT supervision. Launched in 2003 and restructured in
- Retirement Visa Non-O / O-A / O-XThree long-stay visa variants for foreign retirees aged 50 and above: (1) Non-O Retirement = 1 year renewable, requiring either 800,000 THB
- LTR (Long-Term Resident)10-year visa (5 + 5) created by the BOI in 2022 to attract 4 profiles: Wealthy Global Citizens (USD 1M in assets + USD 80k/year), Wealthy Pe
- SMART VisaA 4-year renewable visa created in 2018 and expanded in 2024, targeting 5 categories: SMART-T (Talent, salary 200k+ THB/month), SMART-I (Inv
- Work Permit (WP3 / WP10)Thai work authorization issued by the Department of Employment, mandatory for any foreigner engaged in paid employment in Thailand. WP3 = in
- 90-Day Reporting (TM47)Obligation for all foreign residents holding a long-stay visa to report their address in Thailand every 90 days via the TM47 form, either on
- Re-Entry PermitAn essential permit required to leave Thai territory without losing your current visa extension. Two types are available: Single Re-Entry (1
- TM30 (Foreigner Registration)Mandatory notification to immigration of a foreigner's place of residence within 24 hours of arrival at a new address in Thailand. The decla
- Yellow House Book (Tabien Baan Lueang)Yellow residence booklet reserved for foreigners legally residing in Thailand, equivalent to the Blue Book (Tabien Baan Fah) for Thai nation
- Pink ID CardPink identity card reserved for foreign nationals holding a valid Yellow House Book. Issued by the Department of Provincial Administration,
- Border Run / Visa RunDeparture from Thai territory to reset a visa-exempt status (tourist 30 days) or extend a stay. Since 2014, Thai authorities have reduced to
- Overstay (200 THB/day)Exceeding the validity period of a visa or visa extension. Fixed penalty: 200 THB per day of overstay, capped at 20,000 THB. Beyond 90 days
Real estate basics
- Mortgage Thai bank vs Foreign bankIn Thailand, local banks (Kasikorn, Bangkok Bank, SCB, Krungsri) generally lend only to Thai citizens for residential real estate. Foreigner
- Down PaymentInitial payment made upon signature of the Sales and Purchase Agreement (SPA). In Thailand, the down payment typically ranges from 20% (stan
- Off-Plan / Pre-SaleSale of a real estate property before construction begins (off-plan) or during construction (pre-sale). The developer sells based on plans w
- Resale / Secondary marketMarket for the resale of real estate properties in Thailand, as opposed to the primary market (off-plan / pre-sale new developments). Resale
- Yield Gross / NetAnnual rental return on a real estate property. Gross yield = annual rent / purchase price; it does not account for charges and taxes. Net y
- ROI (Return on Investment)Annualized return on investment combining rental income (cash-flow) and capital gains from resale (capital gain). Simplified formula: 5-year
- Cap Rate (Capitalization Rate)A US real estate indicator used to value rental properties. Cap Rate = NOI (Net Operating Income) / market value. NOI is net income after op
- LTV (Loan-to-Value)Ratio of loan amount to property value. LTV = borrowed amount / property value. In Thailand, local banks rarely finance foreigners (typicall
- EscrowA neutral third-party account that holds funds from a real estate transaction until all contract conditions are satisfied. In Thailand, the
- DPE / GES (French Energy Labels)Diagnostic de Performance Énergétique (DPE) and Gaz à Effet de Serre (GES) — mandatory French energy labels required for the sale and rental
- Floor Area Ratio (FAR)A land-use coefficient employed in Thai urban planning to regulate construction density. FAR = total built-up area / land plot area. In Thai
- Build-Up Area / Saleable AreaAccounting distinction of condominium surface area in Thailand. Build-Up Area = total constructed surface including interior and exterior wa
- Common AreaShared surface of a condominium (swimming pool, lobby, gym, gardens, elevators, visitor parking, sky garden, club house) collectively owned
- Maintenance Fee monthlyMonthly condominium charge billed to the Co-Owner to cover routine maintenance of common areas (security, cleaning, landscaping, swimming po
Pro services
- HandymanA versatile tradesman who performs minor repairs and routine maintenance of a dwelling: basic plumbing, standard electrical work, painting,
- Concierge serviceConcierge service for expatriates and temporary residents in Thailand, handling daily administrative tasks: bank account opening, medical ap
- Property Management (PM)Complete management of a rental property on behalf of the owner: tenant sourcing, lease agreement, rent collection, cleaning, maintenance, t
- Rental YieldAnnual rental yield expressed as gross (before expenses) or net (after expenses and taxes). See also Yield Gross / Net entry. In Thailand, a
- Vacancy RateVacancy rate = number of unrented days / 365. In Thailand, a good Property Manager maintains the vacancy rate below 10% (= 36 unrented days
- Tenant ScreeningVerification procedure of a prospective tenant before lease signature: income (last 3 payslips or employer certificate), references (previou
- Inventory Check (État des lieux)Detailed inventory of movable property and general condition of the dwelling, signed by the landlord and tenant at move-in and move-out. In
- Move-in / Move-out condition reportA formal inspection report documenting the condition of a rental property at the start and end of a tenancy. The move-in report captures the
Thai taxation
- Stamp Duty 0.5%Fixed duty of 0.5% of the sale price (or appraised value, whichever is higher) paid to the Land Office upon real estate transfer. Stamp Duty
- Specific Business Tax (SBT) 3.3%A specific tax of 3.3% of the sale price, paid to the Land Office by the seller on real estate transfers deemed to be commercial activity. I
- Withholding Tax 1% (Property Transfer)A 1% withholding tax on the sale price deducted by the Land Office from the seller during a property transfer (progressive Personal Income T
- Transfer Fee 2%Mutation fee of 2% of the appraised price paid to the Land Office on the day of signature, split 50/50 between buyer and seller (unless othe
- House Tax 12.5%Annual tax of 12.5% of the annual rental value of a property rented out in Thailand, paid by the owner to the Tessabaan (municipality) in Fe
- Withholding Tax 15% (Rental Income)A 15% withholding tax on gross rental income withheld by the tenant and remitted by the tenant to the Revenue Department within 7 days of th
- Personal Income Tax (PND.91/PND.94)Thai progressive income tax (0–35% brackets) applied to Thai tax residents (stay > 180 days/year) on worldwide income and to non-residents o
