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Buyer's Guide

Buying a home can be one of the most exciting experiences of your life. For those looking for a new home, there are many things to consider before you make an offer. The law is constantly changing. It is important to have an agent who can provide basic real estate legal advice so that you can avoid potential pitfalls and make the best decisions, as well as help you find a trustworthy attorney to provide you with legal advice on how to avoid any potential problems in the purchase of your property.

 

We will guide you through the process of purchasing your property with ease and peace of mind.

 

There are many frequently questions that are needed answering in the real estate industry. Let’s explore a few of them to give you an idea of what to expect:

FAQ

Most frequent questions and answers

Foreigners are not yet allowed to directly purchase land in Thailand. Thai laws prohibit foreigners from owning land in their own name, although theoretically there are alternatives.

 

The most common option is to set up your own Thai Limited Company to own the land on your behalf.

 

Another option is to enter into a long-term leasehold with the Landowner.

Yes, foreigners are allowed to own a house or construction built on land that belongs to a Thai national or Thai Limited Company.

Yes, foreigners are allowed to own as many condominiums unit as they want. Either in their own name or in a foreign entity.  

 

However, there is one restriction which is a condominium building must not exceed 49% foreign quota and then the fund that you are going to use to purchase must be brought from overseas into Thailand.

 

You cannot use the fund that you have in Thailand to purchase a condominium unit unless you are a person with a permanent resident card.

Transfer fee: 2% of the registered value of the property

 

Stamp Duty: 0.5% of registered value. Only payable if exempt from business tax.

 

Withholding tax: 1% of the appraised value or registered sale value of the property (whichever is higher and if the seller is a company) If the seller is an individual, withholding tax  is calculated at a progressive rate based on the appraisal value of the property.

 

Business tax: 3.3% of the appraised value or registered sale value of the property (whichever is higher). This applies t both individuals and companies.

Transfer fee: Buyer

 

Stamp Duty: Seller

 

Withholding Tax: Seller

 

Business Tax: Seller

There are 4 types of title deeds in Thailand:

 

Freehold Title Deed (Chanote or Nor Sor 4)
This type of title grants the holder of this document full rights over the land, to deal with or to use it to the exclusion of others.

 

Nor Sor 3 Gor
A land ‘awaiting’ a full title deed is granted the document Nor Sor 3 Kor. This type of land may be sold, transferred, or mortgaged in the same manner as land with a freehold title deed (Chanote) 

 

Nor Sor 3
The difference between this type of land title deed and the Nor Sor 3 Gor is that a land with Nor Sor 3 title has never yet been measured by the Land Department; hence the land has no exact boundaries.

 

Possessory Right
A land with a possessory right has never been substantiated by Department but is only recognized by tax payments at the Local Administrative Office.

Our agents would love to contribute their expertise and insights and help you today.

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