Category: Property
Inheritance Tax: An Overview
What is it? Any asset obtained collectively through inheritance with a total value exceeding 100 million THB is subject to taxation at a rate ranging from 5% to 10% of the total value. Who is Subject to this Taxation? There are 4 categories that would make a person subject to paying inheritance tax as defined […]
Tips on Buying Condominium Units in Thailand
Initially try and find a condominium unit(s) on your own based on the place/location/style that suits your needs and meets your taste within a budget that you are comfortable with. If you cannot find anywhere that suits you, contact a few property agents to help show you more properties from different developers either off-plan or […]
Can a foreigner own land in Thailand?
Question: I am a foreigner who has retired in Thailand and I have recently married a Thai woman. We are currently considering the purchase of 1 rai of land in Phuket where we build our marital home. I will actually be paying for the full purchase price of the land with my own personal funds, […]
Foreign Currency Requirements for Purchasing a Condo
The Condominium Act of 1979 is restrictive of foreign ownership of condominiums in Thailand, but generally allows it for foreigners who permanent residents, or those who have entered the country on an investment promotion visa, or for those who have fulfilled certain requirements related to the transfer or withdrawal of foreign currency. In regards to […]
Acquisition of Land in Thailand by a Foreign Government
The acquisition of land or a condominium unit in Thailand by a foreign government for official use, such as for use as an embassy or consulate, is not covered by any specific legislation. Therefore, assuming that a foreign government intended to acquire land or other immovable property in Thailand for official use, such an acquisition […]
Foreigner’s Right to Value of Land in Thailand
An important principle of Thai law regarding foreign investment in land is that where the foreigner has purchased land, but is not able to legally register ownership of the land, he or she is entitled to the monetary value of the land. This principle is demonstrated in the following Land Department Advisory Opinion: During litigation […]
Disposal of Land Owned by a Foreigner
According to the Land Code of Thailand, it is unlawful for a Thai national to own land as the agent of a foreigner. The act of doing so entails criminal penalties for both the Thai national and the foreigner involved. Furthermore, one consequence of “nominee landownership” as it is called, is that the land that […]
Acquiring Land with a Foreign Spouse
The primary concern behind Thai government regulations related to the acquisition of land by a Thai national married to a foreign spouse is the issue of nominee landownership. Under the Land Code of Thailand, the act of a Thai national owning land as an agent of a foreigner, which is to say, for the benefit […]
Acquiring Land in Thailand with a Foreign Spouse
At this time, Thailand does not prohibit its citizens who are married to (or cohabiting with) foreign spouses from acquiring land. Nevertheless, the acquisition of land by Thai nationals who are married to foreign spouses is extensively covered by government regulation and it is conditioned on the legal principle that any land owned by the […]
Unregistered Condominium Projects in Thailand
In Thailand, the Condominium Act of B.E. 2522 (1979) provides for the registration of a condominium project. In order to register a condominium project, the developer must owned the land upon which the condominium project is situated. Once the project is registered, the Land Department official is able to issue title deeds for individual units […]
