Question 1

Can foreigners own land and real estate in Thailand?

Accepted Answer

According to the law, foreigners are prohibited from owning land or houses but can register a Thai company to have the right to purchase land and real estate. How to register a Thai company by allowing Thai people to hold 51% or more and foreigners holding no more than 49%

Question 2

Can foreigners own condominiums?

Accepted Answer

By law, Foreigners can own condominiums in Thailand. At the rate of 49% of the total number of units in the building registered as condominiums and the remaining 51% will be owned by Thai people or held in the name of a limited company.

Question 3

In transferring ownership of houses, land, and condominiums What are the costs?"

Accepted Answer

Transfer fee 2% of the appraised value or the selling price, choose to calculate from the higher price. Specific business tax 3.3% of the purchase price that is not lower than the appraised value of the Land Department but except not having to pay in case Stamp duty 0.5% of the purchase price but not lower than the appraised value of the Land Department If paying specific business tax There are exceptions to the payment of stamp duty. Personal income tax (withholding) according to the rules of the Revenue Department

Question 4

What is a debt relief certificate?

Accepted Answer

The debt relief certificate will be issued by the juristic person of the condo. In order to confirm that the owner of the room (condo) does not have any outstanding debts with the project, whether it is common fees, water, electricity, etc.

Question 5

If foreigners buy property in Thailand, can they pay in currencies other than Thai?"

Accepted Answer

If foreigners buy real estate directly from the project The contract clearly states that Must use Thai currency (baht), but in the case of buying second-hand Depending on the agreement of the buyer and seller whether to pay in any currency

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