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What are the different ways to make an international transfer?
International transfers can be made through your home country's bank or specialized brokerage companies, each offering advantages based on your needs.
Is it legal to do a transfer between my home country and Thailand?
Transfers between your home country and Thailand are legal. You can use banks or specialized brokerage companies for international transfers.
Can I transfer funds from Thailand to my home country?
Yes, you can transfer money from your Thai account to an overseas account using many banking smartphone applications, subject to conditions.
Can I open a bank account in Thailand?
Yes, foreigners can open various types of bank accounts in Thailand, such as savings accounts or foreign currency accounts, depending on their residency status.
What is a Sinking fund?
The Sinking Fund is a reserve fund payable only once, upon delivery of the building, equivalent to one year's expenses. It covers unforeseen expenses not part of routine maintenance.
What do Maintenance fees include?
Maintenance fees cover expenses related to the operation and maintenance of the building's communal spaces, these are calculated in proportion to the surface area owned by each co-owner in a condominium.
Are there any notary fees when making a purchase?
The profession of notary does not exist in Thailand, so there are no notary fees for property purchases. Legal fees for assistance may vary among law firms.
Are there any agency fees when making a purchase?
Agency fees in Thailand are covered by the seller and included in the property's selling price. Buyers typically do not incur agency fees.
The yearly rental option
You can buy a property, furnish it, and rent it out year-round, but it requires market knowledge and effective property management. Returns in city centers may be around 4% plus.
Seasonal rentals
Short-term rentals are possible but subject to regulations, especially the Hotel Act. High profitability may be limited due to competitive hotel rates.
Real estate developments with hotel management
This option offers a legal and secured solution for profitable rental investment without management worries.
Land Department?
The Land Department is the government agency responsible for issuing land titles, registering real estate transactions in Thailand, and dealing with topography and land mapping issues.
What is the difference between Leasehold and Freehold?
Leasehold involves renting the land or property for a period of 30 years, renewable once or twice (Maximum of 90 years) while Freehold refers to full ownership.
What is Thai Company purchasing? Is it legal?
In real estate, the purchase in a Thai Company corresponds to the purchase of land by a foreigner through a Thai company of which they are the director and minority shareholder. It is legal if the company has a real business and purpose apart from land ownership.
Condominium?
A Condominium is an apartment building that has obtained a Condominium license before its construction and whose legal status is governed by the Condominium Act.
Is it possible to buy land?
A foreigner cannot fully own land in Thailand. Only persons of Thai nationality can hold a (chanote) title to a piece of land. There are a few exceptions involving large investments and rather restrictive procedures.
Can i own a property in Thailand if you are a foreigner?
Yes, you can. Full ownership of real estate for foreigners, also called Foreign Freehold, is possible in apartment buildings with a Condominium license and respecting the Foreign Quota.
Who can I contact to resell my property?
Several options are available for reselling your property, including real estate agencies, property developers, or managing the resale yourself.
What can I do to maximize my chances of resale?
To maximize your chances, consider market research, professional photography, a compelling sales pitch, clarifying the property's legal status, and consulting multiple agencies.
How long will it take to sell or rent out my property?
Many factors impact the time taken to sell a property, many of which are out of our control, we can not give a definitive timeline. However, we work hard to give your property as much exposure as possible. Two of the main deterrents to an expedited sale/rent is the pricing and presentation, so it is important to be realistic about what you can ask for.
Can I sell my property in Thailand?
You can sell your property in Thailand, either independently or through various channels such as a real estate agency or property developer.
What is the Withholding tax?
Property development and/or hotel management companies paying investors guaranteed rental income deduct a Withholding tax from this amount, which varies from 3 to 15% depending on the case.
What are the different rates applicable?
The most common Withholding tax rate is 3%, mainly for services, commercial promotions, and rewards. The rate of 5% applies primarily to rents. For real estate investments, it can vary depending on the nature of the income.
Property tax
A new law that came into force in 2020 introduces a property tax that replaces the former Land and house tax. The rate applicable to a property owned for rental use and worth less than THB 50 Million is 0.3%.
Inheritance tax
There is no inheritance tax below 100 million THB. Assets worth more than 100 million THB are subject to inheritance tax, though the rates are low.
If I buy a property in Thailand, am I taxable in my home country?
Thailand and your country may have a Double Taxation Treaty that determines taxation on real estate income. It's advisable to consult competent authorities and lawyers in your home country for guidance.
What if i Can't find a property on your website?
We can help you with your search, just slip over to our Contact Us form, and provide as much detail as possible. We ask that you commit to us for at least three months or as long as is practicable. Start the process by filling out the appropriate quick rental or purchase form on our contact page so that we have all your requirements.