Thailand’s Land and Building Tax (LBT) regime has entered a new phase. The temporary relief measures and transitional tax reductions that accompanied the implementation of the Land and Building Tax Act B.E. 2562 (2019) have largely concluded, placing property owners, developers, and investors under heightened scrutiny. At the same time, local authorities, particularly the Bangkok Metropolitan Administration (BMA), have significantly enhanced their assessment capabilities through the use of satellite imagery, geospatial mapping technologies, and artificial intelligence-driven land-use analysis.
Accounting & Legal in Thailand
Thailand's luxury condominium market continues to attract substantial foreign investment, particularly in Bangkok's prime residential districts. While significant attention is often given to the acquisition process, the eventual sale and repatriation of proceeds can present a far more complex legal, tax, and compliance challenge.
Thailand's restrictions on direct foreign ownership of land have long encouraged the development of sophisticated leasehold structures, particularly within Bangkok's luxury residential and mixed-use property sectors. A common arrangement involves a 30-year registered lease, often accompanied by a contractual commitment or renewal mechanism for an additional 30 years. For decades, many investors focused primarily on the legal and commercial aspects of these structures, while the accounting consequences remained relatively straightforward.
Thailand's digital asset landscape has entered a new phase of maturity. While the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC) continue to prohibit the use of cryptocurrencies as a general medium of payment for goods and services, digital assets remain legally tradable investment assets when transacted through licensed digital asset operators. As a result, a growing number of foreign investors are utilizing cryptocurrency holdings as a source of funds for acquiring high-value Bangkok real estate, particularly luxury condominiums and investment-grade properties.
Thailand’s condominium sector is entering a new phase of financial regulation. Following several years of heightened concerns surrounding project delays, developer liquidity pressures, and investor protection, regulators have intensified their focus on the handling of purchaser funds in off-plan developments.
For more than two decades, one of the most common structures used by foreign investors seeking indirect control of Thai land involved the establishment of a Thai limited company where Thai nationals nominally held 51% of the shares while foreign investors retained effective control through preferential voting rights, director authority, shareholder agreements, financing arrangements, or undisclosed side contracts.
