During the COVID-19 pandemic, closed borders made it impossible to travel to Phuket. Consequently, the world was compelled to adapt to a remote format across various aspects of life, including work, delivery of goods and products, and even travel, which predominantly took place online.

It's important to remember that we need human interaction, as the saying goes, "He who wants, seeks opportunities; he who does not want, seeks excuses." This is true when we have a choice, like learning something new. But with closed borders, we had to find new opportunities within limitations.

We've seen a massive shift to the digital world, with millions starting online businesses. Not having a social media presence for your business can raise concerns for customers. Online processes save time, making it easy to work from home, take online courses, and participate in webinars. You can even relax and find inspiration through podcasts and meditations on social media.

Real estate is no exception. A common question is, "How can I buy property in Phuket without visiting?"

To choose a property without physically visiting the island, consider viewing a presentation, virtual tour, or video of the property.

Alternatively, arrange a video call directly with our expert at the property location for an online viewing of the apartment or villa.

The process of purchasing property online in Phuket involves several stages, which we have previously discussed in our articles. These stages apply to both traditional and online transactions.

In this brief summary, we'll explain how a remote transaction works. It's important to make sure the process is not only easy and convenient but also legal and transparent. With a well-established procedure backed by experience, this approach offers a secure way to invest in Phuket's real estate market without leaving your home or office.

An Intriguing Fact

Unlike many countries worldwide, in Thailand, the origin of money is not checked. Thai cryptocurrency exchanges are licensed by the state, ensuring the legality and transparency of digital asset transactions.

You pay the developer directly; our company does not charge any commissions for services and support. The decision to purchase is made individually by each client. We highly recommend consulting with a specialist who will provide a realistic understanding of a particular property and be on your side during the selection process, as well as assist with negotiations with the developer. We build long-term relationships with our clients, and it is essential for us that you are satisfied.

Stage Three: Property Inspection and Property Rights Registration

Finally, we arrive at the most satisfying part of the process – inspecting your new apartment or villa and receiving the necessary documentation. All transactions are registered with the Land Department to ensure proper record-keeping.

When purchasing a property in the primary market, a representative from the developer typically handles the registration with the Land Department. This is done based on a power of attorney provided by the buyer. For purchases in the secondary market, a lawyer assists in navigating the process.

For your convenience, we can manage the property inspection, obtain the chanot (property deed), and send them to you via courier service. Should you have the opportunity to be present, we invite you to join us, and together, we will successfully complete this exciting process.

Taxes and Fees in Thailand

Thailand is famous for its low taxes, and sometimes even their absence. Let's take a look at all the taxes and government fees involved when registering a property.

When choosing a leasehold, you only pay two fees: a registration fee (1% of the assessed value) and a stamp duty (0.1% of the assessed value or contract price, whichever is applicable).

When purchasing a freehold (full ownership without time limitations), the total amount of taxes can reach up to 6.3%:

• registration fee - 2% of the assessed value of the apartment

• special business tax - 3.3% of the assessed value or contract price, whichever is higher. This tax must be paid if the property is being resold to you, and the previous owner acquired it less than 5 years ago

• stamp duty - 0.5% of the same amounts, applicable when there is no business tax

• withholding tax - 1% of the same amounts if the apartment is sold by a legal entity. In case of an individual seller, it will be equal to the income tax

All fees are typically shared 50/50 between the buyer and the seller.

When purchasing a freehold through a company:

Company registration: from 50,000 Baht

Legal management of the company: from 3,000-5,000 Baht/month

Accounting and annual balance: from 15,000 Baht/year

Do you have any further inquiries?

Please do not hesitate to contact us through social media. We would be delighted to offer complimentary consultations on any matter ⬇️

✔️ E-mail: hello@apart-homes.com

✔️ Phone: +66 83 503 2555

✔️ WhatsApp: +66 83 503 2555

✔️ Telegram: +66 83 503 2555