As FIABCI-Thai, International Real Estate Federation, Thailand Chapter held a seminar on “Preparing for Foreigners to Buy and Rent Real Estate in Thailand” on Friday, August 22 , 2025 at the Novotel Bangkok Platinum Pratunam Hotel, Bangkok, Mr. Phumtham Wechayachai,  Deputy Prime Minister and Minister of Interior, Acting Prime Minister assigned Mr. Wisarn Techathirawat, Assistant Minister of the Interior, to chair the seminar.

 

FIABCI-Thai would like to express its gratitude. FIABCI-Thai invited 120 government agencies, associations, and related private sectors to attend, including foreign speakers. Therefore, FIABCI-Thai wrote this this letter to provide recommendations to the government for the benefit of preparing for foreigners to buy, sell, and rent real estate in Thailand as follows:

 

1. Amending the tax law.  For Thai people who buy real estate abroad such as in the US, Europe or other developed countries, they must pay these taxes.  However, in Thailand, there are few taxes. Therefore, in Thailand this could be stipulated to have:

 

1.1 Real estate purchase tax, such as 10% of the market price, to generate taxes for national development.

 

1.2 Annual land and building tax, such as 0.5%-1.0% of market price.

 

1.3 Capital gains tax from resale, such as 20% of profit (market price of sale minus purchase price)

 

1.4 Inheritance tax, which may be levied at 10-30% of the estate held as an inheritance at a progressive rate.

 

 2. Amending the Escrow Account Act 2008 and 2019 by changing from "the contractual parties agree to have a contractual benefit protector (voluntary)" to applying it compulsorily to all real estate transactions to protect buyers directly. This will give both Thai and foreign buyers confidence in purchasing and will lead to more transactions, which will benefit the real estate business at large.

 

 3. Amending the Property Rights Over Leasehold Assets Act of 2019 , possibly extending the term to 50 years (not necessarily 99 years). Ithe past, large-scale real estate projects or expressway and mass transit systems had a 30-year leasae term that was sufficient to generate huge profits for investors.

 

4. Providing loans to foreigners who purchase real estate, with the possibility of lending up to 50% of the market value to stimulate more purchases, with the condition that the property can be seized and sold at auction without delay if the contract is breached.

 

5. Professional licensing for property appraisers, brokers, property managers, contractors, land developers, and real estate lawyers, and strictly maintaining professional insurance, such as paying Baht 500,000 (USD 15,152) per year to cover Baht 50 million (USD 1.5 million) in damages from negligence, etc., to protect the interests of both Thai and foreign consumers. These professionals must be Thai only.

 

6. Preventing speculation by allowing foreigners to purchase only one residential unit for personal uses, prohibiting rental businesses like AirBnB , and setting a minimum price of no less than Baht 12 million (USD 363,636).  In the case of Malaysia, Baht 15 million and in Indonesia, approximately Baht 10 million.  This is to prevent foreigners from competing with local Thais for cheaper residential purchases.

 

7. Establish a standard rental contract that is certified and protected by a relatged government agency and can be translated into other languages.

 

8. The determination of VISA for a long-term residence period for investors who bring money to invest in Thailand of not less than Baht 30 million (USD 1 million) to stay for 2 years or 5-10 years in the case of Golden Visa , etc.

 

9. Enforcing Police Power. In the past, there were cases of identity card fraud for foreigners or the emergence of various criminal groups. Therefore, the government should have a database and agencies to closely monitor the residence of foreigners and prevent cases of nominees being set up.  This will help foreigners to stay in Thailand safely.

 

10. Consider granting amnesty to those who have violated various laws in the past to allow them to enter the proposed system and conduct legal leasing transactions, which will generate taxes for national development.   This will cut off the possibility of corruption and misconduct and increase foreign investors' confidence in investing.

 

 In summary, a key measure that should be implemented as a basic infrastructure for foreign investment to maximize benefits for all parties is the establishment of universal taxation, enabling foreign investors to be proud of paying their taxes correctly and feel comfortable complying with international law.

 

Therefore, FIABCI-Thai would like to inform you of this for your consideration. If there is anything FIABCI-Thai could support, such as comparative data on foreign property sales and rentals in other countries, or if you would like foreign experts to provide opinions and suggestions, FIABCI Thai is always happy to support the government.

 

Best regards

Dr. Sopon Pornchokchai

President, FIABCI-Thai

 

About FIABCI

FIABCI is the French acronym for "Federation Internationale des Administrateurs de Bien-Conselis Immobiliers", which mean "The International Real Estate Federation". FIABCI founded in Paris in 1940. After the 85 years of existence, FIABCI currently operating in more than 80 countries with 120 professional organisations, combined membership over 1.5 milions members. Considered to be largest real estate association in the world.

 

FIABCI serves as a connecting hub for international real estate professionals who share a common interest in exchanging knowledge, information, and conducting cross-border real estate business. FIABCI's real estate professionals include land developers, brokers, property managers, property appraisers, investors, real estate consultants, architects, engineers, urban planners, and related legal professionals.

 

In Thailand, FIABCI-Thai (www.fiabci-thai.org) is our FIABCI Thailand Chapter consisting of the Thai Appraisal & Estate Agents Foundation, Thai Real Estate Brokers Association, Asia Pacific Urban Energy Association as Principal Members as well as individual members.

 

Dr.Sopon Pornchokchai, President, FIABCI-Thai, gained a PhD in land and housing from AIT and had further property valuation training from LRTI-Lincoln Institute of Land Policy and housing from KU Leuven (Belgium).  He is also Vice President, Employers Confederation of Thailand.