To sell or purchase the land, house, condominium or building (immoveable property) in Thailand, the buyer and the seller are required to register the conveyance at the Land Office with written evidences (Sale and Purchase Agreement).
General
Under Thai Law, a foreigner can buy one kind of immoveable property in Thailand only which is “Condominium” by transferring money from overseas to Thailand. Unless a foreigner who owns the company which is held by Thai majority shareholders or foreign company under BOI or under other special Act etc., then the company is entitle to buy any kind of immoveable property for its business purpose.
However, the validity of sale and purchase of immoveable property is completed after the seller and the buyer proceed the registration and conveyance at the Land Office only. As you may know that dealing with Thai Authority is quite common complicated and difficulty. Many times, that you must contact them to reach the information and requirement but never had the complete and sufficient information for this matter. Then you must handle with a lot of paper works and tough situation with the authority for registration and conveyance which might waste of time.
Tax and Government Fees
For immoveable property conveyance, both parties are responsible for tax and government fees.
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Transferring fee
2 % of the appraisal price which is a calculation by the Land Department and Treasury Department and is not the actual sale value
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With Holding Tax
- If the seller is a company then there will be a 1 % withholding tax on the government appraised value or sale price (whichever is higher).
- If the seller is an individual then there will be a withholding tax payment at the time of transfer of ownership but before the transfer is recorded.
The rate is a progressive rate based on the appraised or sale value and with a deduction depending on the years of ownership.
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Duty stamp
0.5 % of appraisal price or purchase price whichever is higher (in case that the specific business tax is not applicable)
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Specific Business Tax
3.3 % of appraisal price
Legal Representative
Save your valuable time by having a legal representative who can assist and provide comprehensively services of property sale and purchase for you. We are highly experienced and specialized in providing requirement documents and registration matters which is affordable.
Our Services
- Due Diligent / Land Title Search
- Sale and Purchase Agreement
- Conveyance Registration
- Translation and Gramma Correction
- Legalization by Ministry of Foreign Affair
- Legalization by Embassy
- Power of Attorney
- Notary Public
Contact us for free legal advices and affordable services.