1. You don’t always need a Thai bank account Recent changes mean tourist and Destination Thailand Visa (DTV) holders often can’t open new local bank accounts . But, you can still buy a condo—as long as payment is made via an international foreign-currency transfer to: The developer's bank account, or A trusted escrow account held by your lawyer or agent . The recipient then arranges...
Foreign buyers in Thailand face unique challenges when seeking mortgages, especially for condominiums. These constraints stem from land ownership restrictions and cautious lending practices by local banks. However, several viable options are available if you know where and how to look. 🔍 1. Local Bank Mortgages with Conditions Certain Thai banks do offer mortgages to foreigners—but the...
Disclaimer:This article is based on real-world experiences shared by Reddit users as well as personal insights from previous clients who have successfully purchased property in Thailand. While we’ve taken care to provide accurate and practical information, always consult directly with your Thai bank and legal advisor before making financial decisions. Buying property in Thailand as a foreigner...
While Thailand doesn’t have a stand-alone "capital gains tax," any profit from property sales is treated as ordinary income and taxed accordingly under its personal or corporate income tax system. 1. For Individual Sellers 🧑 No flat “capital gains tax” — instead, the withholding tax (WHT), calculated using a special formula based on the appraised value, ownership duration, and...
Understanding Withholding Tax on Property Sales in Thailand When selling property in Thailand, understanding the withholding tax obligations is crucial for both Thai and foreign sellers. This tax serves as a prepayment of the seller's income tax and varies based on the seller's status—individual or corporate—and the duration of property ownership. 🧾 Withholding Tax for Individual...
Purchasing property in Thailand involves various legal and administrative fees that buyers should anticipate to ensure a smooth transaction. These costs can vary based on the type of property, ownership structure, and specific circumstances. Here's a detailed breakdown of the key fees and expenses: 🏠 1. Transfer Fee Amount: 2% of the official appraised value of the property, as...
When buying or selling property in Thailand, understanding who is responsible for the various taxes and fees is crucial. One of the primary costs in any property transaction is the transfer fee, but determining who bears this cost can vary depending on the circumstances. Here's a comprehensive guide to help you navigate this aspect of Thai real estate transactions. 🏷️ Transfer Fee: Who...
Thailand's Land and Building Tax Act B.E. 2562 (2019) introduced a modern, progressive property tax system that replaced the outdated House and Land Tax. The tax is based on the appraised value of land and buildings as determined by the Land Department, and it applies to all property owners—both Thai and foreign—who hold property as of January 1 each year. 📊 2025 Tax Rates by Property...
A Guide for Foreign and Thai Buyers Buying or selling property in Thailand comes with several fees and taxes that both buyers and sellers should understand clearly. Whether you’re purchasing a condominium, house, or land, these government-imposed charges can significantly affect your total investment. Here’s a breakdown of the most important property transfer-related fees you’ll encounter at the...
Buying a condo in Thailand is one of the most straightforward ways for foreigners to legally own property in the country. But beyond the advertised price of the unit, there are several fees, taxes, and ongoing costs you need to be aware of. This guide breaks down all the total costs involved—so you can budget with confidence. 📌 1. Purchase Price This is the base price of the condominium unit....
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