Many individuals interested in purchasing property in Thailand often encounter questions related to the acquisition process. Lack of understanding of the legal system can lead to various concerns. Below, we'll discuss the taxes and fees imposed when buying property in the Kingdom of Thailand.

Property Acquisition Process: Buying property in Thailand is open to any foreign investor, whether in person or remotely. This includes the option to acquire houses with land. The procedure is the same for everyone, but remote transactions may require additional time for document shipping. Reservation usually requires a signed scanned copy, and for property registration, either personal participation or a representative with a notarized power of attorney is needed.

Note: Our experts can assist you if necessary, even in the process of obtaining a power of attorney.

Taxes and Fees Distribution: When buying property from a developer, taxes and fees are typically divided 50-50 if the property is at the construction or ready stage.

For secondary market purchases, it's advisable to decide in advance who will cover specific taxes and fees. Verify the property for encumbrances and debts beforehand.

Taxation Based on Ownership Form:

• For freehold property (unlimited ownership), the composite tax can reach 6.3%.
• For leasehold property, the tax is 1.1%.

Ownership registration restrictions exist for foreigners, particularly regarding land ownership. Usually, villa structures are registered under freehold for individuals, while land may be in leasehold for individuals or freehold for a Thai company.

Additional Expenses:

1. Sinking Fund (One-time Payment): This fund covers major repairs in condominiums or developments. For villas, it starts from 100,000 Baht, and for apartments, from 600 Baht per square meter.

Important Considerations: Tax laws and rates may change, requiring an individualized approach and consultation with specialists for each property transaction in Thailand.

Have Questions or Need Assistance? Feel free to reach out to us via social media, and we'll provide free consultation on any queries. ⬇️

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