Tax incurred upon the sale of property. Primary sources of Thai property law for foreigners The taxable gains earned from selling a Thai property are computed as the selling price or the market value of the property less some deductions. Real estate or property law in Thailand is the area of Thai law that governs the rights of use, possession and various forms of ownership of immovable property (land, house, condominium).In this article a brief legal introduction to the most common real estate laws in Thailand. Thai real estate laws FOR FOREIGNERS. Thai Women married to Foreigners Prior to 1998, any Thai woman who married a foreigner would lose her right to purchase land in Thailand. She could, however, still retain land that she owned prior to marrying the foreigner. The Thai government imposes a fixed transfer fee of 2% of the sale figure when purchasing or selling a property. I’m a foreigner and own a freehold condominium in Krabi Thailand. For property tax calculations , does the number of years (ownership) commences from signing the S&P or at time of receipt title deed. With so many great property for sale in Thailand it’s an evergreen question, and according to Thai legislation, foreigners are not enabled to own land in Thailand. A foreigner may own a land in Thailand in a name of Thai company (at least 51% of shares are Thai and 49% are foreign). If your question is not listed here then speak to us online for further advice and guidance. Unlike several of its neighbouring countries, Thailand does not charge annual income tax for owning a property, its blanket zero tax policy only kicksin upon sale of the said property. To purchase a property, foreigners need to bring funds into Thailand by either transferring funds into a bank account in Thailand, selling traveller’s cheques, a foreign credit card or withdrawing funds from a non-Resident Baht Account or foreign currency deposit account(FCD); This can be done as a Thai Limited Company or a registered Thai Partnership. These are the most common property and real estate questions that are asked in Thailand when it comes to buying or selling property in Thailand. Remember that the paperwork and administration requirements of a Thai company can be bewildering and you WILL need some good local advice before you open up shop. Though Thai Property Laws prohibit a foreigner from owning land in Thailand, there are other alternatives to owning land in Thailand. I signed my S&P in 2011 and full payment was made in 2017 with the issuance of title deed and house registration book. Owning a property this way is referred to as Thai Freehold, as the Thai company will own the property as an asset just as if a Thai citizen would own it under their own name. The company ownership is structured in a way so the foreigners have full control of the despite owning the minority (49%) of … The use of nominee Thai shareholders is prohibited under the Foreign Business Act (1999). Using a Company. Expats can own condominiums, and apartments, provided that the total ownership of the block remains in the majority Thai. There are limits on foreign ownership of property in Thailand. Thank you Call us now, speak to us online or walk into any of our offices in Thailand for attention. If curious about purchasing, a foreign buyer has two options : either a 30-year leasehold or buying the property through a restricted business. 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