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Title
There are 7 degrees of title in Thailand,
channot being the best title as it is an unchallengeable
title.
Foreign ownership in Thailand
Can you own freehold property?
You can own freehold property and although the process
seems more complicated than in other countries it
really is quite simple. The property will be owned
by a Thai limited company of which a foreign national
can only own 39% with the other 61% being held by
six Thai shareholders. On the day of registration
of the Company, the six Thai shareholders sign their
share transfer forms, which are all blank and undated,
and all proxy voting forms signed and given over
to you.
Costing
Generally the buying costs are between 2 –
2.5%
There are very minimal running costs to the properties
as there are no rates to pay however electricity
can be high and you will get taxed on the rental
income achieved on the apartment, this is the
main tax as this where most of there income comes
from.
Taxes
|
Tax |
Who normally pays |
Amount |
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Transfer fee |
Buyer |
2% of registered value |
| |
Stamp duty |
Seller |
0.5% of registered value |
| |
With-holding tax |
Seller |
1% of appraised value |
| |
Business tax |
Seller |
3.3% of appraised value |
Visas
You can stay in Thailand for a maximum of three
months at a time, if you wish to stay longer you
simply have to leave Thailand for a day to a neighbouring
country and come back to re-new for a further
3 months.
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