Buy a property with Cryptocurrencies in Thailand
Thailand is rapidly embracing cryptocurrency as a viable means of payment across various sectors, including real estate. Leading Thai property developers, such as Sansiri and AssetWise, have begun accepting major cryptocurrencies like Bitcoin, Ethereum, and stablecoins for property acquisition. Although there are still regulatory hurdles for foreign buyers, cryptocurrency in Thailand’s real estate market represents a significant step towards integrating new financial technologies and new sales opportunities among the ever growing crypto community. Yet, you can’t just swap digital coins for a property legally, in practice, digital currencies are a transfer method you can legally use to invest in real estate in Thailand.
A small crypto community is already very active in Koh Phangan and the island is becoming a paradise for crypto adepts, the opportunities to use digital assets over there are booming: see Koh Phangan new launch
Let’s explore the different processes when purchasing a property in Thailand with cryptocurrencies : risks, benefits, crypto-friendly developers and top properties to buy in crypto!
Thailand, the Standard for Cryptocurrency Regulation in Asia
Thailand has been at the forefront of regulating cryptocurrency in Southeast Asia. The Thai government, through its Securities and Exchange Commission (SEC), has established a comprehensive framework to oversee the use, trading, and issuance of digital assets within the country.
Regulation of Digital Assets:
In Thailand, cryptocurrencies and other digital assets are regulated under the Digital Asset Business Decree, which was enacted in 2018. This law provides the legal framework for the issuance and trading of digital assets, including cryptocurrencies.
The SEC (Securities and Exchange Commission) is the main regulatory body overseeing digital asset businesses, ensuring that all entities engaged in the issuance and trading of cryptocurrencies comply with the established legal requirements. This includes licensing requirements for digital asset exchanges, brokers, and dealers.
Taxation of Cryptocurrency:
The Revenue Department of Thailand has issued guidelines on the taxation of cryptocurrency transactions. Profits made from the sale of digital assets are subject to a capital gains tax, and businesses dealing with cryptocurrencies are required to include their crypto holdings as part of their taxable income.
Anti-Money Laundering (AML) and Know Your Customer (KYC) Requirements:
To prevent money laundering and other illicit activities, Thailand has adhered to stringent AML and KYC regulations for digital asset businesses. These regulations require all digital asset exchanges and service providers to verify the identity of their customers and report any suspicious transactions to the relevant authorities. Compliance with these regulations is mandatory for all businesses operating within Thailand’s digital asset space, and failure to adhere to these rules can result in severe penalties, including fines and revocation of licenses.
Buy a Property with Cryptocurrency in Thailand 101
In practice, when you buy a property with crypto, there are different pathways whether you are buying a new property from the developer directly, or whether it is a secondary property and the seller is an individual, and upon the legal ownership structure of the property.
While it is now possible to buy real estate in Thailand with cryptocurrencies, there are legal nuances foreign investors need to be aware of in regards to ownership structure.
Buy a condo with crypto in freehold ownership:
Foreigners cannot own land outright in Thailand, however, they can own condominium units outright, through freehold ownership terms with title deeds under their foreign name. (Foreign Quota capped at 49% max total condo surface). To register a condominium unit into foreign freehold terms, a Foreign Exchange Transaction Form (FET Form), issued by a Thai bank, proving that funds were transferred from overseas in a foreign currency is required at the Land department. Thai crypto exchanges cannot provide this form directly, foreign buyers using cryptocurrencies must therefore engage with a Thai third-party intermediary to convert their crypto locally into Thai Baht, allowing the issuance of a FET form ultimately. This 3rd party intermediary is often an official or authorized broker from the receiving bank. This involves going through a KYC process, and multiplies the intermediaries.
Buy estate with crypto through a Thai Company:
Purchasing land or estate in Thailand via a Thai Limited Company with cryptocurrency is possible but involves significant administrative and maintenance fees for the company limited, as well as corporate structuring, and conversion fees of the cryptocurrencies into Thai Baht. In this case scenario, the FET form is not required, hence funds are not required to come from overseas in a foreign currency, hence the cryptocurrencies can be converted into THB through a local thai crypto exchange and then wired directly to the company’s bank account. This involves going through a KYC process.
Additionally, the funds used for the purchase must appear on the company’s balance sheet, and crypto cannot be used as registered capital.
Buy a property with crypto in Leasehold terms:
Leasehold terms are typically 30 years long lease with the possibility of renewal up to twice. The Land department registers the lease and does not require FET Forms for leased properties. Funds are therefore not required to come from overseas in a foreign currency, hence the digital currencies can be exchanged into THB through a local crypto exchange platform and then wired directly to the personal, individual or company’s bank account. This involves going through a KYC process.
How to open a crypto exchange in Thailand ?
To open a cryptocurrency exchange account in Thailand as a non-Thai national, you must physically be in Thailand. The requirements include providing a valid passport, a visa or work permit, and a proof of residence within Thailand, such as a rental agreement or utility bill. Additionally, applicants must comply with the Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, providing all necessary documentation to the exchange platform.
Receiving banks often require an official or authorized broker to handle the conversion of cryptocurrencies into Thai Baht (THB). Keller Henson can act as a third-party intermediary to assist with these conversions, ensuring that the process is compliant with local regulations when purchasing a property with cryptocurrencies.
Buy a Property with Cryptocurrency step by step
Buy in crypto from the developer vs opening a local exchange and paying in Fiat
Direct cryptocurrency purchases by foreigners are not legally recognized, so you’ll have to pay in crypto to the developer directly and let it be handled internally or manage to get your crypto into fiat and do the payments the old fashioned way.
- Thai developers: Thai developers like Ananda and Origin have started accepting cryptocurrencies. You must first set up a wallet with a local Thai exchange, like Bitkub and then depending on the developer guideline, you may either convert the crypto into THB and transfer in THB or transfer crypto to the developer’s wallet directly.
- International developers: Some international developers like Andaman accept cryptocurrencies directly in their wallet.
Buy real estate in Thailand with crypto – Step-by-Step Guide:
Select a crypto friendly developer; follow the guideline from the developer :
The developer may accept a payment in crypto (BTC, ETH, USDT) to its wallet directly in ESCROW against an official receipt to be issued. The developer commits to meet legal compliance and ensure the registration of your unit at the Land department will occur, as per terms of the Sales and Purchase Agreement.
Select any property, open a local Thai crypto exchange, send your crypto to the platform, convert and pay in fiat:
Choose a property from a crypto-friendly developer
Transfer deposit amount to developer crypto wallet
Get agreed about transfer conditions: crypto currency used, fixing exchange rate
Developer converts crypto into THB and make deposit to his Thai bank on behalf of buyer
Have your wallet ready in a Thai exchange licensed by the Ministry of Finance
Next payments in crypto follow the same process
Benefits and Risks of Using Cryptocurrency in Real Estate
Benefits of Using Cryptocurrency in Real Estate
Using cryptocurrency in real estate transactions offers several significant advantages:
Potential Risks of Using Cryptocurrency in Real Estate
While using cryptocurrency in real estate offers several advantages, it also comes with some risks:
Thai crypto-friendly developers
The Covid-19 pandemic has accelerated the adoption of cryptocurrency payments in Thailand’s real estate market, with several top developers accepting tokens as a payment option.
Assetwise:
Assetwise, a SET-listed developer, has partnered with Bitkub Capital Group Holdings to facilitate cryptocurrency transactions for home purchases. This collaboration enables buyers to use digital currencies as a legitimate form of payment, reflecting the company’s innovative approach in the real estate sector.
Origin Property:
Origin Property, another major SET-listed developer, also collaborates with Bitkub to accept cryptocurrencies like Ethereum, Tether USD (USDT), and Bitcoin. These payment options are available for a selection of both low and high-rise projects.
Ananda Development:
Ananda Development, known for its Ideo and Ashton branded projects, has embraced the digital revolution by allowing customers to purchase all of its residential properties using digital assets. This initiative is part of a broader partnership with Bitkub, further integrating cryptocurrency into the real estate market.
Sansiri:
Sansiri has invested 1.6 billion THB in XSpring Capital, a financial and brokerage firm expanding into the cryptocurrency space. Sansiri plans to accept digital currencies for all its housing projects and is exploring the launch of Initial Coin Offerings (ICOs) to enhance investment returns. This move positions Sansiri at the forefront of integrating digital assets into Thailand’s real estate market.
These initiatives by leading Thai developers highlight the growing influence of cryptocurrency in the local real estate sector, although the regulatory landscape continues to evolve.
Featured properties payable with Cryptocurrencies
List of properties you can buy with crypto in Thailand :
Buy a property in crypto from the top THAI developers
Thai Developers
Aestiq Thonglor
฿11.5M - ฿60.1M- Stories: 40 Units: 203 Year: 2024 Q4
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Avg. Price per sqm: ฿352,620.00
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Size Range: 34 - 156 sqm
- BTS Light Green
SO Origin Kata Phuket
฿4.3M - ฿12.0M- Stories: 8 Units: 686 Year: 2026 Q4
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Avg. Price per sqm: ฿158,500.00
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Size Range: 26 - 75 sqm
- Phuket
Cabanas Hua Hin
฿2.7M - ฿11.6M- Stories: 8 Units: 426 Year: 2025 Q2
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Avg. Price per sqm: ฿115,000.00
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Size Range: 26 - 67 sqm
- Hua Hin
Buy a property in crypto from international developers
International Developers
Wyndham Fantasea Condo Chalong
฿2.5M - ฿8.2M- Stories: 8 Units: 398 Year: 2026 Q4
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Avg. Price per sqm: ฿88,000.00
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Size Range: 28 - 92 sqm
- Phuket
AURA Condominium
฿2.6M - ฿8.6M- Stories: 7 Units: 241 Year: 2026 Q2
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Avg. Price per sqm: ฿110,000.00
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Size Range: 29 - 96 sqm
- Phuket
Layan Verde
฿6.5M - ฿128.4M- Stories: 7 Units: 776 Year: 2027 Q3
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Avg. Price per sqm: ฿178,500.00
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Size Range: 39 - 629 sqm
- Phuket
Buy a house or a villa with crypto in Thailand
Houses & Villas
Proxima Phuket Villas
฿16.0M - ฿19.0M- Stories: 1 Units: 14 Year: 2024 Q2
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Avg. Price per sqm: ฿55,000.00
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Size Range: 228 - 257 sqm
- Phuket
Wallaya Harmony Villas - phase 2
฿0 - ฿0- Stories: 2 Units: 9 Year: 2020 Q4
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Avg. Price per sqm: ฿48,000.00
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Size Range: 0 - 0 sqm
- Phuket
In conclusion, purchasing real estate in Thailand with cryptocurrencies might offer significant advantages, however, the process can be complex for foreign buyers upon the type of properties and ownership terms. Keller Henson can assist you in buying a property in crypto ensuring maximum safety and compliance with Thai regulations.
Keller Henson Team
Thailand Real Estate Market AnalystsExpert real estate specialists in Thailand, the Keller Henson team offers comprehensive guidance for foreigners buying property. They combine local market knowledge with legal expertise to ensure a secure and efficient investment experience.