Frequently Asked Questions

Yes, foreigners can buy property in Thailand, subject to certain restrictions.

Foreigners cannot own land in Thailand, but they can own buildings and condominium units (under the foreign quota). 

In buildings categorized as condominiums, developers have the permission to sell a maximum of 49% of the total apartments to foreigners as freehold properties. The remaining 51% must be sold to either Thai citizens or Thai companies, with foreigners being allowed to own a maximum of 49% of the shares. As a result, you will notice varying prices or payment terms for each project, depending on whether the apartment is being purchased under ‘Foreign Ownership’ or ‘Thai Company Ownership’.

Regarding houses and land, foreigners can either lease land for up to 30 years, with an option to renew for an additional 30 years, or consider purchasing through a Thai company.  If you want to purchase land or a house there are many ways to secure your investment.  We can also arrange safe solutions for you to purchase your home. Contact us to find out more.

Yes, it is possible to purchase property in Thailand through a Thai company, but it is important to comply with local laws and regulations.

Thai company ownership is not considered the most favorable type of ownership due to the requirement of having 51% Thai shareholders, which means you won’t be the sole owner of the property. However, if you are willing to accept these conditions, it is a common practice among foreigners in Thailand. Many foreigners have been using this method for several decades.

Nevertheless, it is crucial to engage an independent lawyer to ensure that the company established to hold the property is set up correctly. This is done to grant the foreign buyer complete control over the company and its assets, including the property. If the idea of Thai company ownership doesn’t appeal to you, we recommend focusing on condominiums that offer 100% foreign name ownership. This provides a more secure investment option

The taxes associated with buying property in Thailand include a transfer fee, a specific business tax, and a stamp duty.

For off-plan property acquisitions, there are three taxes imposed by the Land Department upon registering the property in your name. These include a Transfer Fee of 2%, a Special Business Tax of 3.3%, and a Stamp Duty of 0.5%. It’s important to note that some taxes are calculated based on the “selling price,” while others are based on the “appraised price,” which is typically lower than the selling price. In total, these taxes amount to approximately 6.3%. The responsibility for paying these taxes is divided between the buyer and the seller.

The specific tax distribution may vary depending on the major developer as each one has their own approach. Consequently, the actual taxes paid by the buyer can range from a minimum of 1% to a maximum of 6.3%, depending on the particular development. In the case of a private sale, the tax split is subject to negotiation.

Once you have completed the property purchase, there are no annual property taxes to be paid in Thailand, unless you decide to lease out your property. The only additional costs following the purchase will be the maintenance fees for the building’s upkeep and the payment for utilities such as water and electricity that you utilize.

It is not a legal requirement to hire a lawyer to buy property in Thailand, but it is recommended to seek the advice of a lawyer to ensure that all legal requirements are met.

It is recommended to conduct a thorough due diligence process before buying a property in Thailand, which includes a title search and a check for any legal issues or disputes.

The process of buying a property in Thailand typically involves finding a property you want to buy, negotiating the price, signing a sales agreement, paying a deposit, and then completing the purchase.

After identifying a property you wish to purchase, the next step involves completing a straightforward reservation form and submitting a reservation fee, typically 2% of the selling price. Subsequently, you will receive the contract for your review and signature. If you are satisfied with the contract’s terms, you should sign and return a copy, along with the contract deposit payment.

In the case of purchasing an “off-plan” property, the contract deposit generally ranges between 20% to 30%. Throughout the property’s construction period, you will be required to make interim payments at regular intervals. The specific payment structure for these interim payments varies depending on the developer you are dealing with. Once the property is completed, you will be responsible for settling the remaining balance of the purchase price upon receiving the key to your new home. Additionally, upon completion, you will need to pay the applicable taxes when the apartment is registered in your name at the Land Department.

For the purchase of a completed property, the full amount is typically required within 30 days from the reservation date, although some sellers may be open to negotiations.

There are no residency requirements for buying property in Thailand, but it is recommended to consult with a local lawyer or property expert to ensure that all legal requirements are met.