Thailand Property

Thailand is considered to be a relatively attractive country for investment in real estate. An investor can make money not only on the rising cost of real estate, but also from renting out their property during the period when it is vacant.

Rental properties in Thailand are in great demand among tourists from all over Europe and the USA. This allows the owners to get very good income without making any effort, as their property, particularly a Villa, you can simply transfer the management of real estate company for a fixed cost.

The right of ownership

Foreign nationals without any restrictions, the right to purchase in his own name the following types of real property: villas, apartments in condominiums, buildings, yachts and so on. A non-resident of Thailand, a foreigner cannot have right of ownership to land. HOWEVER, taking into account the legislation of Thailand, developed legal schemes of land acquisition, the completion of which, the alien enjoys all rights as owner of the land.

Taxation of real estate

When purchasing property, you need to know about taxes and fees charged when buying and selling. There are two organizations that charge fees to owners of real estate: tax and land Department. Taxes are paid by property owners, subject to the profit of the property.

Taxes The Tax Department

Withholding tax - a tax payable by the seller of real property upon the sale. The tax is paid in the following order:

  • Withholding tax from income of individuals: the tax calculation will be based on the valuation of land held by the Land Department.
  • Withholding tax on the profits of the organization: the tax calculation will be based on the valuation of the land held by the Land Department or the actual selling price. In the end, the high cost. The tax rate is 1 %.

Taxes and charges Land Department

Fees and taxes do not depend on the legal status of the seller, i.e. individuals and legal entities pay taxes and fees at the same rate. The Land Department has always determined from the value declared by the seller, but not less fixed in the Land Department at the moment and for the particular plot of land. Land Taxes are calculated based on the area of the land plot of 1,600 sq m =1/6 hectare=1 Rai

The fee for transfer of ownership (Transfer Fee)- 0.01% of the declared value of the property at check in or set by the Land Department value of land. When the lease fee is 0.01% of the contract amount for the entire period.

Special sales tax (SBT)- 0.1% of the property value, applies to legal entities. From individuals, just in case, if the period of ownership of the property was less than 5 years, i.e. if this property has already been resold within the previous 5 years.

Stamp duty (Stamp Duty Fee) is charged only in the event that the seller is not subject to business tax (SBT). When the transfer of ownership, the tax is 0.5 % of the cost. When transferring the leasehold tax is 0.1 %.

Please note that taxes may be reduced if:

  • The property was used for a personal residence for at least a year before the sale;
  • The property was in the possession of the seller more than 5 years;
  • Property inherited;
*Payment of taxes and duties is distributed between the buyer and the seller, either one of them. Property tax paid annually, while using real estate for commercial purposes or rental, long term rental property for the entire rental period, at the option of the payer. The tax is calculated from a larger area, choosing between a land and a house located on it. The tax is equal to 12.5% of the actual income or the stated owner of the income amount for the year. Income can be confirmed by lease agreements, or other primary documents. Tax on the right to calculate tax independently on the basis of a common rental prices of similar properties. At the conclusion of a long-term lease, the tax payment, as a rule, the parties share equally.

The value added tax (V. A. T)

For individual taxpayers is 3%
Rate for legal persons - 7%

According to the website
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