I am buying a condo in Bangkok and I am a bit confused about who pays what taxes. Can you advise please?
While there is no hard and fast rule, typically the taxes are paid as follows:
* Transfer Fee- Seller and Buyer 50-50
*Stamp Duty-Seller and Buyer 50-50
*Specific Business Tax-Seller pays
*Withholding Tax-Seller pays
I understand that Thailand operates a different system of measurement, can you explain this please?
Yes Thailand operates its own system of measurement. Thai Land Measurements
Rai = 1,600 sq.m. (about 0.5 acre)
Ngan (sq) = 400 sq.m. (about 400 sq.yards)
Sq.wah = 4 sq.m. (about 4 sq.yards)
I'm married to a Thai national, how does this affect my rights to buy property?
A foreigner and Thai can jointly own a condo but not any other types of property. Your thai partner however can own property in their own right such as a house or land
If I buy property in Thailand, what taxes am I due?
A frequently asked question and one to which an article has been written in the newsletter section of this web site
If I want to buy a condo in Thailand what restrictions do I face?
Basically, foreigners can own condominiums however there are some key restrictions.
Thai condominium projects fall under the 51% Thai and 49% Foreign law. This means that 51% of all the condos in any one building must be Thai owned. Before acquiring a condo enquiries must be made to the juristic to ensure that this ratio is still intact.
