What Changed in the Regulation of Foreign Real Estate Activity in 2026
Since May 2026, the Department of Lands of Thailand has tightened control over nominee schemes for property ownership-and this directly affects expats working in real estate. Urgent Circular มท 0515.2/ว 10722 dated May 15, 2026, obliges land offices to verify ultimate beneficiaries when registering transactions, and the Department of Business Development (DBD) from April 1, 2026, requires detailed declarations of capital sources from companies purchasing land. For foreign realtors working in Thailand, this means that grey schemes no longer work-only strict compliance with the Foreign Business Act and obtaining a work permit.
Why Foreigners Cannot Simply Open a Real Estate Agency
The Foreign Business Act B.E. 2542 (1999) classifies real estate activity as List 3-a category of businesses where foreigners can only work with permission from the Ministry of Commerce and upon meeting the condition of 51% Thai capital. There is no direct prohibition on foreign ownership of a real estate agency, but in practice, obtaining a Foreign Business License (FBL) for an agency with foreign majority participation is almost impossible.
Section 97 of the Land Code B.E. 2497 (1954) defines a company as foreign if more than 49% of its registered capital belongs to foreigners or more than half of the shareholders are not Thai citizens. Such a company cannot own land, and therefore cannot have an office on a land plot-only in a condominium where the foreign quota is not exceeded.
Three Legal Ways to Work as a Realtor in Thailand
There are three legal options for an expat wishing to work in real estate:
Option 1: Employment in a Thai company. You are registered as an employee of a licensed Thai agency, obtain a Work Permit category B and Non-Immigrant B visa. The company must meet the requirements of the Department of Employment: for each foreign employee-at least 4 Thai workers with a salary of not less than 15,000 baht per month each, registered capital of at least 2 million baht (increases by 2 million for each additional foreigner). Your minimum salary for a Work Permit is 50,000 baht per month for most nationalities.
Option 2: Thai company with minority foreign participation. You can be a shareholder (up to 49%) and director of a Thai real estate company, but the majority 51% must belong to real Thai investors-not nominees. After strengthened control in 2025-2026, DBD checks the sources of capital of Thai shareholders, their actual participation in management, and compliance of charter activities with actual operations. If the structure is recognized as nominee, the company will be obliged to sell assets within 180 days-1 year under Section 94 of the Land Code, and directors may face criminal liability under Section 113 (up to 2 years in prison and a fine of up to 20,000 baht).
Option 3: Remote work for a foreign company. You work as a realtor for an overseas agency (for example, Russian or European), while in Thailand on an LTR Visa category Work-from-Thailand Professional or tourist visa. Clients and contracts are outside Thailand, payment goes to a foreign account. Legally, you are not conducting business on the territory of the Kingdom and do not need a Work Permit. However, if you show properties to Thai clients or sign contracts on behalf of a Thai developer-this is already work in Thailand, requiring permission.
What Specifically is Prohibited Without a Work Permit
The Department of Employment and immigration police clearly define the boundaries of illegal work. Without a valid Work Permit, a foreigner is prohibited from:
- Showing real estate properties to potential buyers on Thai territory
- Signing purchase, lease or reservation agreements on behalf of the seller or agency
- Receiving commissions from Thai developers or agencies for deals concluded in Thailand
- Conducting negotiations about price, transaction terms or mortgages with clients physically located in the Kingdom
- Posting advertisements on Thai bulletin boards (for example, Thai Property, DDProperty) with your Thai phone number as the agency contact person
Practical example: a realtor from Russia working in Pattaya without a Work Permit posted advertisements on DDProperty and showed a villa to a buyer from Moscow. A neighbor reported to immigration police. The realtor was detained, fined 100,000 baht, deported with a five-year entry ban. The employing company received a fine of 400,000 baht for hiring an illegal foreign worker.
How Much Does It Cost to Work Legally as a Realtor: Calculation for 2026
To obtain a Work Permit and visa through your own Thai company, the following expenses will be required:
Company registration:
- Registered capital minimum 2 million baht (actually 25% is paid-500,000 baht)
- Legal address (office rental in condominium)-from 15,000 baht/month
- Registration fees and lawyer services-30,000-50,000 baht
Monthly compliance expenses:
- Salary of 4 Thai employees (minimum 15,000 × 4)-60,000 baht
- Your salary for Work Permit (minimum)-50,000 baht
- Social contributions (5% of payroll)-5,500 baht
- Accounting services-5,000-8,000 baht
- Office rent-15,000 baht
- Total: minimum 135,500 baht/month (about 1.63 million baht per year or 350,000 rubles at the April 2026 rate)
Work Permit and visa processing:
- Initial Work Permit processing-3,000 baht (government fee) + 15,000-25,000 baht agent services
- Non-Immigrant B visa (annual extension)-1,900 baht
- Re-entry Permit (multiple)-3,800 baht
For employment in another agency, your personal expenses are limited only to visa fees-the company takes care of Work Permit processing.
Alternative to Work Permit: LTR Visa for Remote Realtors
Since February 2025, the Board of Investment (BOI) removed the requirement for personal income of $80,000/year for the Wealthy Global Citizens category in the long-term residency program LTR. Now it is sufficient to confirm assets of $1 million and investments in Thailand from $500,000 (including real estate in full ownership from 3 million baht). For the Work-from-Thailand Professionals category, requirements remained the same: salary of $80,000/year and work in a foreign public company or company with turnover from $50 million.
LTR Visa gives the right to live in Thailand for 10 years (5+5) without the need for annual extension, exempts from tax on foreign income transferred to Thailand, and allows obtaining a simplified work permit-without the requirement of 4 Thai employees per foreigner. If you work as a realtor remotely for a foreign company (for example, consulting Russian clients on purchasing Thai real estate, but contracts and payment go through an office in Russia), LTR Visa is a legal alternative to a classic Work Permit.
Risks of Nominee Schemes After the May 2026 Circular
Many real estate agencies managed by foreigners have historically used nominee structures: 51% of shares in the name of Thai citizens who formally own the company but do not participate in management and do not invest real money. The Department of Lands circular dated May 15, 2026, obliges land offices to verify ultimate beneficiaries in every transaction, and DBD from April 2026 requires detailed declarations of capital sources.
If a company is recognized as nominee, consequences occur in three directions:
Criminal liability. Section 113 of the Land Code provides for up to 2 years in prison and a fine of up to 20,000 baht for a Thai citizen acting as an agent for a foreigner. Section 111-the same measure for the foreigner himself. The Foreign Business Act adds fines and possible imprisonment for Thai nominees.
Forced sale of assets. Under Section 94 of the Land Code, the company is obliged to sell land within 180 days-1 year. If it does not succeed, the Director General of the Department of Lands sells the property himself, and returns the proceeds (minus expenses) to the owner.
Confiscation without compensation (draft law). On February 24, 2026, the Cabinet of Ministers approved an amendment to Section 94, according to which land acquired through a nominee scheme will be transferred to the state without compensation. The bill has not yet entered into force, but its adoption is expected during 2026. If this happens, the risk of nominee ownership will become absolute-not just forced sale, but complete loss of the asset.
Eight provinces are under special control: Phuket, Surat Thani (Samui, Phangan), Mae Hong Son, Chiang Mai, Krabi, Chonburi (Pattaya), Rayong and Chanthaburi. Land offices in these regions are required to report quarterly to the Department of Lands on identified violations-January 10, April 10, July 10 and October 10.
How Foreign Realtors Are Checked: Immigration Police Practice
Immigration police and the Department of Employment conduct inspections based on complaints and as part of planned raids. Most often they check agencies in tourist zones-Patong, Kamala and Bang Tao in Phuket, Jomtien and Pratumnak in Pattaya, Chaweng and Bophut in Samui.
Signs by which illegal workers are identified:
- Advertisements on Thai sites with a foreign name and Thai phone number
- Presence in the agency office during working hours without visible grounds (tourist visa, but behaving like an employee)
- Showing properties to clients-if you are stopped on the way to a villa with keys and brochures, this is evidence
- Complaints from competitors or dissatisfied clients
- Posts on social networks where you present yourself as a realtor in Thailand, indicate a Thai office address and offer services on site
The fine for working without a Work Permit is up to 100,000 baht, deportation and entry ban from 1 year to 5 years. An employer who hired an illegal foreigner pays up to 400,000 baht fine for each worker.
What Can Be Done Legally Without a Work Permit
Not all real estate-related activities require a work permit. Legally without a Work Permit you can:
Consult remotely. Answer client questions by email, messengers or video call, if the client is located outside Thailand and payment goes to a foreign account.
Run a blog or YouTube channel. Publish reviews of areas, properties, legal guides-if monetization comes through advertising or donations from a foreign audience, and not through direct commissions from Thai developers.
Invest in real estate. Buy condominiums in full ownership (within 49% of the building's foreign quota), rent them out and receive income. Rental management can be transferred to a licensed agency-you remain an investor, not an employee.
Attend exhibitions and networking events. Meet developers, study the market, exchange contacts-as long as you do not sign contracts and do not receive payment on site.
The boundary between legal and illegal activity runs along the fact of performing work on Thai territory and receiving income from Thai sources for it. If the client, contract and payment are abroad, a Work Permit is not required. If at least one element of the chain is in Thailand-permission is needed.
What This Means for an Expat Planning to Work as a Realtor in Pattaya
Pattaya remains the largest real estate market for foreigners on the East Coast-according to the Public Debt Management Agency of Thailand, in 2025, 847 condominiums with foreign quotas were registered in Chonburi Province, of which 312 are in the Pattaya area. Demand from Russian-speaking buyers increased by 23% in 2025 compared to 2024, making Pattaya attractive for expat realtors.
However, working here legally has become more difficult. Chonburi Province immigration police in 2025 conducted 14 raids on real estate agencies, identifying 27 illegal foreign workers-more than in Phuket (19) and Samui (11) combined. The reason is a high concentration of small agencies managed by expats through nominee structures, and active complaints from licensed Thai competitors.
If you plan to work as a realtor in Pattaya, you have three realistic scenarios:
Get a job at a large agency. Companies like Siam Real Estate, Pattaya Property or international chains (Century 21, Coldwell Banker) process Work Permits for employees and comply with Department of Employment requirements. Your income is a fixed salary plus commission, usually 30-50% of the agency fee (standard commission in Pattaya is 3% of the property price for the buyer and 3% for the seller).
Work remotely for a foreign agency. You consult clients from Russia, Kazakhstan or other countries who have not yet arrived in Thailand. You delegate property viewings and contract signing to a licensed Thai partner, receiving a referral commission to a foreign account. LTR Visa category Work-from-Thailand Professional legalizes your stay in Thailand without the need for annual visa extension.
Create your own company with real Thai partners. This is the most expensive but most flexible option. Requires a minimum of 1.63 million baht per year for operating expenses, careful selection of Thai shareholders (they must be real investors, not nominees) and constant legal support. Suitable if you plan a large-scale business with turnover from 10 million baht per year.
The main rule-do not try to work illegally. Saving on Work Permit processing results in deportation, loss of invested time and reputation in the market. Legal work as a realtor in Thailand is possible, but requires either employment, or serious investment in your own company, or transition to the format of a remote consultant with an LTR Visa.
Checklist: Are You Working Legally as a Realtor in Thailand
- ☐ You have a valid Work Permit indicating position and employer
- ☐ Your visa (Non-Immigrant B or LTR) corresponds to the type of activity
- ☐ The employing company is registered with the Department of Business Development and has at least 4 Thai employees for each foreigner
- ☐ If you are a company shareholder, Thai partners own a real 51% of capital and participate in management
- ☐ You do not show properties to clients personally-either delegate to Thai colleagues or have a Work Permit
- ☐ Commissions from Thai developers go to the company account, not your personal foreign account
- ☐ Your advertisements on Thai sites contain company contacts, not a personal phone number
- ☐ You do not publish information on social networks that can be interpreted as working without permission (for example, "I am a realtor in Pattaya, write to me in private messages")
If at least one item is not fulfilled, you are in a grey zone and risk deportation during inspection. Consultation with a licensed Thai lawyer costs 5,000-10,000 baht, but can save you from a fine of 100,000 baht and entry ban.
