As Phuket continues to attract foreign investors and lifestyle buyers, one common question arises: Can you own a freehold condo in Phuket through an offshore company?

While owning property through a foreign company might seem like a strategic tax or asset protection tool, the reality in Thailand is more complex. In this article, we explore how Thai law treats offshore company ownership of condominiums, what you need to consider before going this route, and whether this approach makes sense for your investment in Phuket.

Can an Offshore Company Own a Freehold Condominium in Phuket?

Yes — but with strict conditions. Thai law permits foreign entities to purchase and register condominium units in their name, as long as the unit is within the 49% foreign quota of the total floor area of the development. However, the company must be considered a foreign entity under Thai regulations.

This is common in situations where:

  • The offshore company is legally registered in another country
  • The purchase is properly declared to the Land Office
  • All foreign exchange transactions are correctly documented with a Foreign Exchange Transaction (FET) form

The Land Department may require detailed documentation to verify the legitimacy of the company and its funding sources.

Why Some Buyers Consider Offshore Ownership

Using an offshore company to own a condo in Phuket may be attractive for:

  • Asset Protection: Placing the condo under a company name may help shield personal assets.
  • Estate Planning: Shares of a company can be transferred to heirs, avoiding probate under Thai inheritance laws.
  • Tax Efficiency: Depending on your country of residence, holding assets offshore could have tax advantages (consult a specialist).

But these benefits come with administrative burdens and ongoing costs that may outweigh the perks for smaller investments.

Important Legal Considerations

1. Proper Documentation is Critical

All foreign funds must be transferred into Thailand in foreign currency and recorded with an FET form. This document is essential for registering the unit in the name of a foreign person or company.

2. Due Diligence by the Land Office

The Land Office may scrutinize offshore company ownership more carefully than individual foreign buyers. They will often request:

  • Company registration documents
  • Shareholder structure
  • Proof of fund origin
  • Notarized and translated documents

3. Avoid Nominee Structures

Creating an offshore company that acts as a nominee or front for individual ownership can be risky. Thai authorities may view this as an attempt to circumvent ownership restrictions and could reject or revoke the registration.

4. Legal and Tax Advice is Essential

Consult both Thai and international legal professionals before using an offshore structure. You’ll need to understand:

  • Thai real estate and corporate laws
  • Your own country’s tax reporting requirements
  • How offshore ownership may impact resale or inheritance

Is Offshore Ownership Right for You?

For high-net-worth individuals with multiple holdings or complex estate plans, offshore company ownership can make sense. But for most property buyers in Phuket, individual freehold condo ownership is simpler, safer, and fully legal.

If your priority is ease of ownership, lower costs, and fewer compliance issues, then buying a condo in your own name within the foreign quota is usually the better route.

Frequently Asked Questions

Q: Can a foreigner own a freehold condo in Phuket through a company?
A: Yes, a foreigner can own a freehold condo through an offshore company, but only if the purchase complies with Thailand’s foreign ownership laws. The condo must fall within the legal 49% foreign quota of the development, and the company must be properly registered and documented.

Q: Why would someone use an offshore company to buy a condo in Phuket?
A: Some buyers use offshore companies for estate planning, asset protection, or tax efficiency. However, this strategy is best suited for high-value investments due to its complexity and cost.

Q: Is it easier to buy a condo in Phuket in my own name?
A: Yes. Most foreign buyers opt for freehold condo ownership in their personal name, as it is simpler, more transparent, and legally protected under Thai condominium laws.

Q: What documents are needed for an offshore company to buy property in Phuket?
A: You’ll typically need notarized company registration documents, shareholder information, proof of fund origin, and a Foreign Exchange Transaction (FET) form for transfers over USD 50,000.

Q: Are there risks in using an offshore company to buy a condo?
A: Yes. If the structure is seen as a nominee arrangement or used to bypass Thai ownership laws, the Land Office may reject the registration or even void the transaction. Always seek proper legal advice.

Final Thoughts

Yes, it is possible to own a Phuket condominium through an offshore company — but it must be done properly, with full compliance and legal transparency.

The safest way to buy Phuket real estate remains purchasing a freehold condo in your own name, ensuring it is within the legal foreign ownership quota. If you’re unsure which option suits your needs best, we can help you evaluate the pros and cons based on your goals.

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