Bangkok Attorney

When foreigners retire to Thailand and wish to purchase a home, they frequently opt to purchase both the home and the land. Keep in mind that you are able to own the two separately in Thailand under superficies. Most people usually purchase the home and the property before putting it in the name of their wife. Thai law prohibits foreigners from owning any land in Thailand, with some exceptions. According to the Condominium Act, foreigners may hold no more than 49% of the apartments or condo units. In the event that the amount exceeds the cap, they typically register the condo unit in the name of their Thai wife or a Thai company. With the house, you can do the same, but the land it is situated on might present a different challenge. Keep that in mind if you purchase a condo property in the name of your Thai-registered firm and reside there. Since it is being leased to a director of the firm, the Thai government considers it to be a lease, and you must pay an annual rental tax on the un...

We have included a brief explanation of how the transfer duty and taxes are calculated and who is responsible for paying which portion of the fees when the property is transferred. When you purchase property in Thailand, the transfer fees and duties are different from those in your home country. Always be sure to consult your lawyer about what to expect in advance if you have any queries. The breakdown of the taxes and fees is the first thing you need to know about transferring property in Thailand. Here is a list of them: Transfer Fee: This is a percentage of the property's appraised value that is being transferred. Thailand charges 2% of the property's value as transfer fees. The transfer tax on the property is either paid by the buyer or, less frequently, is split between the buyer and the seller. Business Tax:  3.3% of the property's sale price or appraised value is the business tax that must be paid over the asset. In Western terminology, it's either the sale price...

Property ownership and its associated rights are crucial considerations when investing or residing in a foreign country. In Thailand, one concept that plays a significant role in property transactions is usufruct. Usufruct is a legal term that refers to the right to use and enjoy the benefits of someone else's property. This article aims to provide an overview of usufruct in Thailand, its key features, legal implications, and its relevance to property owners and investors. Understanding Usufruct Usufruct, also known as "Sidhi-kep-kin" in Thai, grants an individual the right to possess, use, and enjoy the fruits and benefits of someone else's property. The person who holds the usufruct is referred to as the "usufructuary," while the owner of the property is known as the "naked owner." This arrangement allows the usufructuary to utilize the property while the ownership remains with the naked owner. Key Features of Usufruct Duration: Usufruct can be e...

If you are thinking about building in Thailand, have the title deed in your possession, and are prepared to construct your home, you should learn more about Thai construction licenses. Many foreigners who live in Issaan once they retire opt to construct their own homes there. Normally extremely modest, but occasionally they forget that the government regulates construction. These are only a few of the problems. The building permit is a permission granted to you to erect your home in accordance with the blueprints provided to the authorities and on the property described in the application by title deed. They typically put the building permit in the name of the Thai wife because a foreigner is not allowed to own land and is not allowed to engage in certain professions. The name on the building permit can be changed while construction is underway, but this is not really necessary. Most people merely use their wife as the permit holder. Keep in mind that a building license and permit are ...