Yes, on all purchase/sale of property in Thailand there is a stamp Duty of 0.5%, a transfer fee of 2%, a business tax of 3.3% levied against an owner who has been in registered possession of the property less than 5 years, and withholding tax of 1% of the Government price or the declared value whichever is the higher. There is no Capital Gains Tax in Thailand, There are no [...]
Thai land measurements are a combination of imperial and metric measurement systems. Title deeds in Thailand include all land measurements using the Thai system and are also written in Thai, therefore it is beneficial for you to have a translation if you are thinking of buying a property. Below you'll find a comparison between the Thai and Western sytems which hopefully will help you gain a better understanding. 1 Wah [...]
There are generally three different appraisal values; the government value, the appraisal company's value and the market value of the property. The government value is calculated every 5 years, the last update was in 2004. Over the last few years all of these rates have begun to come closer together.
Yes, the Title Deed (Chanote) is the purest form of land ownership. It ensures easy transfer, one original set is kept in the District Land Office where the registration of land transfer takes place, and the other original set is given to the owner of the land. Look for the red coloured crest at the head of the certificate. Confirmed Certificate of Use (Ngor Sor Saam Gor) This document certifies [...]
A Tor Tor Sam (3) is an official bank document issued by the receiving bank upon the receipt of foreign currency into your bank account in Thailand. You must request a Tor Tor Sam from your bank when you are remitting funds to Thailand for the purpose of purchasing a condominium, and the Tor Tor Sam must specify that the remittance is solely for the purpose of purchasing a property [...]
Ownership of land is governed by the Land Code BE 2497 (1954), the Civil and Commercial Code, Land Reform for Agriculture Act BE 2518 (1975) and the regulations set forth by the Ministry of the Interior. Although Thai law prohibits foreigners from owning land in Thailand, there are various ways in which you can structure establish a controlling interest in a Thai company that owns the land, or own a [...]
Yes, you can. Under Thai Law, 49% of the internal area of a condo building, excluding the common areas, can be assigned to be owned by foreigners. Buying a condominium, is the simplest option available to foreigners. The only restrictions on purchasing a condominium, are that the funds used for purchase were remitted from abroad and correctly recorded as such by the receiving Thai Bank on a Tor Tor Sam. [...]