Phuket Condo Visa 2026: Get a 1-Year Thai Residence Permit for 3M THB

Since 1 October 2025, Thailand has offered foreign buyers a renewable one-year residence permit tied to condominium ownership starting at 3,000,000 THB. Phuket became the first region where the immigration bureau confirmed full operational readiness for the scheme¹. For international investors who have spent years cycling through visa runs, this is a genuinely new legal pathway to island living.

This is not a classic visa. It is an investment-based extension of stay, tied to ownership or long-term lease of property. There is no age restriction, but the permit does not grant the right to work². Below are the exact figures, entry routes, and pitfalls to watch.

Quick Answer

• Minimum entry threshold: purchase of a condominium worth at least 3,000,000 THB (roughly EUR 82,000) from a Thai developer⁵

• Validity: 12 months, renewable annually as long as ownership is maintained³

• Foreign ownership quota: foreign ownership in any single building cannot exceed 49% of total floor area¹

• Rental alternative: renting a condo or house from 85,000 THB per month, prepaid for the full visa period⁴

• Third route: a three-year lease on a property worth at least 3,060,000 THB, with proof of payment⁴

• No work rights: the status does not include a work permit; remote work requires a separate legal basis

Scenarios and Options

Scenario 1: Buying a condo for personal residence. You purchase a studio or one-bedroom unit from 3M THB in a completed Phuket project, register ownership at the Land Office, gather documents (chanote title, proof of inbound transfer, receipts), and apply through Phuket Immigration³. Upside: full control over the asset and a stable status. Downside: capital is locked into a single property, and the status is cancelled upon sale.

Scenario 2: Buying a condo to rent out while holding your own status. An investor buys a unit above the threshold (5-8M THB), secures the annual extension, and lives on the island while managing the rental through a management company. Market estimates put Phuket rental yields at 5-7% net annually for liquid locations. The trade-off: you must ensure the rental activity doesn't breach the program's conditions, and income tax must be handled separately.

Scenario 3: Renting without buying. For those unwilling to commit capital to ownership. A rental contract from 85,000 THB per month (about 1,020,000 THB per year), prepaid for the entire visa period. Good for testing life on Phuket before buying. Downside: the money isn't recoverable, there's no asset ownership, and as of March 2026 the rental route is under administrative review due to identified loopholes⁵, making this status less predictable.

Scenario 4: A three-year lease on a house or villa. You sign a three-year lease on a property worth at least 3,060,000 THB. The contract is registered and payment confirmed via bank statements⁴. Suited to those who want a house with land rather than a condo. Legally, though, this is a lease, not ownership; if the landlord terminates the contract, the status is lost.

Comparison Table

Main Risks and Mistakes

The 49% quota may already be full. In popular projects across Bang Tao, Surin, and Kata, the foreign ownership quota can be exhausted. Check remaining quota via the Land Office or a lawyer before signing.

Buying from a reseller instead of a Thai developer. The program requires purchase from a Thai developer. Secondary-market units from a foreign seller may fail verification¹. Confirm the ownership chain in advance.

Missing the FET (Foreign Exchange Transaction) form. Funds transferred from abroad must be accompanied by a bank form confirming the currency transfer purpose. Without it, registering ownership under a foreigner's name is not possible.

The rental route is paused for review. Since March 2026, rental-based options have been under administrative review following identified loopholes⁵. Applications filed before March are being processed, but new rental applications should be double-checked with Phuket Immigration.

No right to work. The status does not replace a work permit. Freelancers and business owners must obtain separate authorization, or risk fines and possible deportation.

Confusing this with Thailand Elite or LTR. The 3M THB program is not Thailand Elite (from 600,000 THB for 5 years, unrelated to property) and not the LTR visa (requiring income from $80,000 a year or a qualifying pension). All three instruments run in parallel, so choose based on your profile.

FAQ

Can I get Phuket residency by buying a villa instead of a condo?

No. The program applies only to freehold condominiums. Foreigners in Thailand cannot own land directly, so villas and houses are purchased via leasehold or a Thai company structure, neither of which qualifies under this program².

How much does the renewal process cost?

The government fee for the annual extension is 1,900 THB. Legal support in Phuket typically runs 15,000-40,000 THB depending on complexity.

Do I need to be in Thailand to apply?

Yes. Applications are submitted in person at Phuket Immigration. You'll need a valid visa (tourist or otherwise) as the basis for your current stay in the country³.

Can I include my family under this program?

The application covers a single applicant. Spouses and children must file separate applications or use other visa categories, such as a dependent visa or education visa.

What happens if I sell my condo?

Selling the property removes the basis for your extension, and renewal will not be approved the following year. You would need to purchase another condo or switch to a different visa status.

Does this program apply only to Phuket?

No. The program applies nationwide across Thailand². However, Phuket was the first to confirm full operational readiness, and its immigration bureau is actively processing applications.

Can I buy an off-plan condo under this program?

Under current rules, you need a completed unit with a registered title (chanote). Off-plan properties without a registered title do not qualify².

How do I check if a project still has quota available under the 49% rule?

Request an extract from the Land Office (Khet Ti Din) for the specific condominium. A reputable developer will provide this information before you sign a contract.

Source: Bangkok Post

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