How do Georgia and Thailand compare, row by row?
Thailand lets foreigners own condo units but not the ground under them; Georgia sells flats, houses and most land to foreigners on citizens' terms. The table names the Thai source on each row and picks no winner.
| Criterion | Georgia | Thailand | Source, Thailand |
|---|---|---|---|
| What a foreigner may own | Flats, houses, non-agricultural land | Condo units within a 49% foreign quota; no land | Condominium Act; law-firm guides |
| Leases | Not needed: freehold | Up to 30 years; pre-agreed renewals unenforceable | Law-firm guides; AustCham |
| State charge on buying | GEL 150; no transfer tax | 2% of the appraised value | The Nation |
| Seller's tax | None after 2 years; 5% of the gain before | 3.3% within 5 years or 0.5% stamp duty, plus income tax | PwC; guides |
| Residence from owning | Value above USD 150,000 | None | BOI |
| Nightly lets | No licence | Hotel licence; condos barred from hotel use | SILQ Law |
| Tax on rent | 5% of gross | 0% to 35% after a 30% deduction | PwC |
| Foreign buyers | Batumi 48% of deals (September 2026) | 14.7% of condo units (2025) | REIC |
What may a foreigner own in Thailand?
A condo unit. Section 19 bis of the Condominium Act, as set in 1999, lets foreigners together hold at most 49% of the total floor area of all units in a building, counted in square metres, not flats (Tilleke & Gibbins; we could not open the official text). Once that share is full, a foreigner can buy only from another foreign owner, so ask the building's juristic person, its owners' body, to confirm the free quota in writing before any deposit.
Land is closed: law-firm guides cite section 86 of the Land Code, under which an alien may acquire land only through a treaty, and none is in force. A foreigner wanting a house owns the building at most and leases the plot. The 75% quota and 99-year leases floated by the government in June 2024 were sent for study; we found no act putting either into law.
The money must arrive from abroad in foreign currency, or come from a non-resident foreign-currency account (Condominium Act, section 19, as Tilleke & Gibbins summarise it). The Thai bank documents the inflow and the Land Office checks that record at transfer. Guides call it a Foreign Exchange Transaction Form and put its threshold at USD 50,000; that figure is not officially confirmed, so ask your bank first.
Georgia sets no rule that a buyer's money must come from abroad, though banks and notaries apply anti-money-laundering checks to its origin. A foreigner buys as a citizen does, except agricultural land; a lawyer should check how a plot is classed.
How long does a Thai lease last?
Thirty years. Law-firm guides quote section 540 of the Civil and Commercial Code: a longer term is cut back to 30 years, and a renewal may run no more than 30 years from the day it is made. A lease of over 3 years must be registered at the Land Office, or it binds for 3 years only (section 538, same guides).
Sellers have marketed so-called 30+30+30 leases with the later terms signed up front. According to AustCham, Supreme Court Decision No. 4655/2566 held such pre-agreed renewals unenforceable and any term beyond 30 years void. AustCham dates it 18 March 2025, though 2566 is 2023 in the Thai calendar; we have not read the ruling. Price a leasehold villa as 30 years of use; any renewal is a new negotiation with the landowner of the day. A Georgian house comes with its plot, owned outright.
Why not hold Thai land through a company?
A Thai company with Thai shareholders on paper and a foreigner in control breaks the Foreign Business Act, and since May 2026 it is a declared target. On 8 May 2026 The Nation, via The Star, reported that the Cabinet had made foreign nominee businesses a national priority. Officials picked 6,551 foreign-majority companies for in-depth checks and counted suspected illegal foreign-controlled firms at 3,934 in Bangkok, 1,084 in Chon Buri, home to Pattaya, and 68 in Phuket; land and property is one of six high-risk sectors. If a seller offers land held by a company, have your own Thai lawyer trace who funded each shareholder. A Georgian property is registered in the foreign owner's own name.
What is charged at the Land Office, on purchase and on resale?
The Land Office collects the following at transfer, mostly on the appraised value. The Revenue Department's English pages show outdated rates, so we follow PwC's summary reviewed on 24 August 2026.
- Transfer fee, 2%. The cut to 0.01% for homes up to THB 7 million, valid to 30 June 2027, is for individual Thai buyers only (The Nation). The contract decides who pays; a split is common.
- Specific business tax, 3.3%: 3% (PwC) plus a 10% local tax on it (Revenue Department), due from a seller within 5 years of acquiring, according to tax guides.
- Stamp duty, 0.5%, instead, when the business tax is not due (same guides).
- Income tax withheld from the seller: guides describe a progressive sum on the appraised value, eased for years held, or 1% for a company; neither method is officially confirmed.
These taxes fall on the seller by law, but a developer may build them into the price. On resale a foreign owner meets them again: on THB 5 million, THB 165,000 in business tax within 5 years or THB 25,000 in stamp duty after, plus the income tax withheld (our calculation); there is no separate capital-gains tax.
Georgia charges no transfer tax or stamp duty: the Public Registry takes GEL 150 for registration in 4 working days, and 18% VAT arises only on a sale by a VAT-registered business. A home kept beyond two years is resold with no income tax on the gain; within two years, 5%. See buying costs in Georgia.
What does a THB 5 million condo cost, and what would that money do in Georgia?
Our example: a new unit bought from a developer company for THB 5,000,000, appraised at the price. That is USD 148,240 at the Bank of Thailand rate of THB 33.7290 per USD on 3 November 2026, or GEL 385,025 at GEL 2.5973.
| Item | Thailand | Georgia |
|---|---|---|
| Transfer fee or registration | THB 100,000 (2%) | GEL 150 (about USD 58) |
| Business tax, developer | THB 165,000 (3.3%) | None |
| Withholding, developer | THB 50,000 (1%) | None |
| Charged at transfer | THB 315,000 (6.3%), about USD 9,339 | GEL 150, about 0.04% |
| Residence | None | None: about USD 1,760 short |
Who bears the THB 315,000 depends on the contract. The residence row needs saying plainly: Georgia's property permit requires a market value of more than USD 150,000, set by an accredited valuer, so a USD 148,240 flat falls about USD 1,760 short. The line equals THB 5,059,350 at the same rate, and the valuation, not the price, decides.
What does owning cost each year?
Thailand's Land and Building Tax Act of 2019 sets maximum rates of 0.15% to 3% by use (PwC), capped at 0.3% for homes (Tilleke & Gibbins). An owner listed in the house registration on 1 January has the first THB 10 million of a condo exempt, or THB 50 million for land with a house. The bands actually charged are set by a decree we could not read; one Bangkok firm gives 0.02% for a second home, about THB 1,000 a year on THB 5 million (our calculation), but treat that as unconfirmed, as is whether a foreigner in a yellow house book gets the exemption. Building service charges come on top; we did not research them.
Georgia's Law No 1874 of 30 September 2026 taxes an individual's buildings only when the family earned over GEL 100,000 in the prior year, then at 0.8% to 1% of market value; an accountant should say how a non-resident's family income is measured.
Does owning a Thai condo bring a residence permit?
No; the owner stays under ordinary visa rules. Long-stay routes stand apart:
- Long-Term Resident (LTR) visa, Wealthy Global Citizen: USD 1 million in assets, with at least USD 500,000 invested in Thai government bonds, Thai companies or Thai property, in any mix. Property is one option, not a condition. Ten years in two 5-year terms; a fee of THB 50,000 per person if paid in Thailand (BOI).
- Thailand Privilege: a paid membership, THB 650,000 for 5 years (Bronze) up to THB 5,000,000 for 20 years (Reserve, by invitation). It has nothing to do with owning property.
- An investment extension: in 2014 Tilleke & Gibbins described Police Order 327/2557, a one-year stay for THB 10 million invested from abroad, a condo included; we could not confirm whether it is still in force, amended or replaced.
Developers have also sold condos from THB 3 million with long-stay visa services run by a private firm (The Nation, 2 April 2026). The report cites no immigration rule and says tenants qualify too, so we see a sales package, not a right of ownership.
Georgia attaches the permit to the property: a value above USD 150,000 gives a renewable 1-year permit, and above USD 300,000 a 5-year one that can lead to permanent residence. See our residence-by-property guide and, for other countries, the country comparison tool.
Can a Thai condo take nightly guests?
In most cases, not lawfully. The Hotel Act of 2004, as SILQ Law reads it, requires a hotel licence for accommodation run as a business for temporary stays; lets of a month or more fall outside it, which the market reads as 30 days. SILQ Law notes penalties of up to 1 year in prison, a fine of up to THB 20,000 or both, plus up to THB 10,000 a day (section 59). A licence would not help: the Department of Lands said in November 2023, as SILQ Law quotes it, that condo units may not be used as hotels, and many buildings ban daily lets. A draft Accommodation Establishment Act, set out on 29 September 2026, is not law and leaves the condo restriction in place (SILQ Law, 6 October 2026).
In Batumi a flat can be let by the night without an accommodation licence, with tax registration and the option, open until 1 January 2028, of a flat monthly tax of GEL 10 for each let m²; see Airbnb in Batumi.
How is long-let rent taxed?
Thai rent is Thai-source income, taxed even for a non-resident; residence for tax means more than 180 days in Thailand in a calendar year (Revenue Department). A standard 30% is deducted from rent on a building, and the rest is taxed progressively (PwC, 24 August 2026): 0% up to THB 150,000 of net income, then 5%, 10%, 15%, 20%, 25% and 30% in bands, and 35% above THB 5 million.
By our calculation, gross rent up to about THB 214,000 a year (about USD 6,350) stays in the 0% band, if the owner has no other Thai income and the full scale applies to a non-resident, which an accountant should confirm. A small Thai rent can therefore cost less tax than Georgia's; a large one, far more. Allowances for non-residents and the rate a company tenant withholds are not confirmed: guides disagree.
Georgia takes a flat 5% of gross residential rent from residents and non-residents; see rental income tax in Georgia.
Who buys, how do prices move, and how many visitors come?
Foreigners took 14,899 Thai condo units in 2025 (+2.2%) for THB 60.9 billion (-10.7%), the Real Estate Information Center (REIC) of the Government Housing Bank reports: 14.7% of units transferred, at an average THB 4.1 million and 41.3 m². China led with 4,940 units, then Myanmar with 1,968 and Russia with 1,172. The first half of 2026 brought 6,533 units, 8.8% fewer than a year before. In Batumi, foreigners made 48% of registered deals in September 2026 (Colliers); see our Batumi market review.
The Bank of Thailand's condominium index for Bangkok and vicinities stood at 204.2 in September 2026 (2011 = 100), about 4.7% above the 195.0 of a year earlier, a value we took from a third-party copy of the series (our calculation). It is built from mortgage-financed deals, mostly by Thai buyers. Knight Frank saw some 350,000 unsold condos in the Bangkok area in early 2026, needing 5 to 6 years to absorb if little new supply arrives. Geostat's price index for new dwellings in Tbilisi, measured in lari, rose 5.9% year on year in the third quarter of 2026; our price index tracks them.
Thailand counted 32,974,321 foreign arrivals in 2025 (-7.23%) and 24,423,680 from 1 January to 17 October 2026 (-4.12%), The Nation reports. Georgia had 7.8 million international travellers in 2025 (+5.9%), per Geostat. We found no official Thai yield series, so we set none against Tbilisi's 8.7% gross (Galt & Taggart, August 2026) in our rent index.
Which priorities point to which country?
| If you want | Points to | Why |
|---|---|---|
| Land under your home | Georgia | Thailand bars it and caps leases at 30 years |
| A permit from the purchase | Georgia | Thai ownership gives none |
| A long stay without buying | Thailand | Privilege from THB 650,000 |
| Low charges at purchase | Georgia | GEL 150 against 2% plus seller taxes |
| Nightly letting | Georgia | No licence in Batumi |
| A huge visitor market | Thailand | About 33 million arrivals in 2025 |
Beyond Europe, see also Georgia or Dubai and Georgia or Bali; for a European coast, Georgia or Montenegro.
Risks and exceptions
- Paying for 90 years of lease. Only the first 30 can be relied on.
- Thai nominee shareholders. Illegal, and a named target of the 2026 checks.
- Paying in baht from a Thai account. The Land Office wants proof of foreign currency from abroad.
- Expecting a visa from the condo. Ownership brings none.
- Buying a Thai unit for nightly guests. Condo units are barred from hotel use.
- Aiming at the Georgian permit with USD 148,000 or so. The valuation must exceed USD 150,000.
Frequently asked questions
Can a foreigner buy property in Thailand?
A condo unit, while foreigners hold under 49% of the building's unit floor area; not land.
Did Thailand allow 75% foreign quotas or 99-year leases?
We found no enacted act: both were 2024 proposals sent for study, and we found no law putting either in force by 3 November 2026.
Does a Thai condo give a visa?
No. The LTR needs USD 1 million in assets with USD 500,000 invested in Thailand; Privilege is a paid membership.
Which country costs less to buy in?
Georgia: GEL 150 and no transfer tax, against THB 315,000, or 6.3%, collected at transfer in our THB 5 million example.
Sources
- Condominium Act (No. 3) B.E. 2542, Department of Lands (read in a search excerpt), and One-year visas for foreign condominium owners, Tilleke & Gibbins, 31 October 2014 (accessed 3 November 2026)
- PM allays foreign quota fears, Bangkok Post, 23 June 2024, and Supreme Court on long-term lease loopholes, AustCham Thailand, 30 June 2025 (accessed 3 November 2026)
- Thailand widens crackdown on foreign nominee businesses, The Nation via The Star, 8 May 2026 (accessed 3 November 2026)
- The FET, PropertyScout, a secondary guide (accessed 3 November 2026)
- Thailand cuts property transfer and mortgage registration fees, The Nation, 2 July 2026 (accessed 3 November 2026)
- PwC tax summaries for Thailand: other taxes and personal income, reviewed 24 August 2026; Revenue Department, specific business tax and personal income tax (accessed 3 November 2026)
- Thai property taxes explained, Sansiri, a secondary guide (accessed 3 November 2026)
- New Land and Building Tax Act, Tilleke & Gibbins, 15 March 2019, and Land and Building Tax 2026, LexBangkok (accessed 3 November 2026)
- Long-Term Resident visa, Board of Investment; Thailand Privilege; Bt3m condos with long-stay visa perks, The Nation, 2 April 2026 (accessed 3 November 2026)
- SILQ Law: short-term condominium rentals and new accommodation law, 6 October 2026 (accessed 3 November 2026)
- Foreign condominium transfers, 2025 (in Thai), REIC, 20 April 2026, and Q2 2026 transfers, The Nation, 11 September 2026 (accessed 3 November 2026)
- Bank of Thailand: property price index and exchange rates; BaanScope copy; Bangkok condominium market Q1 2026, Knight Frank (accessed 3 November 2026)
- The Nation: arrivals to 17 October 2026, 19 October 2026, and 2025 arrivals (accessed 3 November 2026)
- Tbilisi, August 2026, Galt & Taggart; Colliers via International Investment, 20 October 2026; Geostat via 1TV, 30 January 2026 (accessed 3 November 2026)
- Legislative Herald of Georgia: Law on the Legal Status of Aliens, Tax Code, Law No 1874; registration fees, Public Registry; exchange rates, National Bank of Georgia (accessed 3 November 2026)
Change log
- - Comparison published from Thai law, REIC, the Bank of Thailand, PwC, law-firm guides and Georgian law and market data.