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Buying Property

If you’re looking to buy property in Thailand, there are a few things to keep in mind. First and foremost is to make sure that the property you purchase is legally and lawfully owned, as Thailand is a country that respects property rights. We suggest you do the due diligence, title search, and contract review ahead of time, however, to ensure you avoid any surprises later on down the line. When purchasing a property in Thailand, it is important to work with an agent and a lawyer who is well-versed in Thai and English.

Due diligence is the investigation of a property, a building permit, a license, a business, and financial records. To ensure that the land, condominium, or other forms of property you intend to purchase is free from debt and mortgage based on public records, Alpha Legal can provide you with an English report. This report will tell you if the title to the property is free from any liens or other claims and will help you prevent unpleasant surprises down the line.

The following are some issues that should be considered as part of any land due diligence.

  1. the history of land
  2. mortgage or encumbrances
  3. access to the land
  4. servitude
  5. zoning restrictions
  6. the payment of all taxes relating to land purchase
  7. a company’s financial
  8. a company’s structure

To avoid legal risks in your sale and purchase transaction, we strongly advise you to hire a professional lawyer to conduct adequate due diligence.

Land Transfer Fee

The transfer taxes and fees when purchasing real estate in Thailand differ from your home country. Consult your lawyer about what to expect. The breakdown of taxes and transfer fees is fundamental information regarding real estate transfers in Thailand. Here is a list of them:

  1. Transfer Fee of 2% over the appraised value of the property
  2. Business Tax 3.3% over the registered (sale) value or appraised value (whichever is higher) in the case that the land holds less than five years or you have your name less than one year in Household registration (Blue book)
  3. Stamp Duty 0.5% over the registered value
  4. Withholding tax; if the seller is a company withholding tax is fixed at 1% over the registered sale value or appraised value (whichever is higher)

Please get in touch with us if you have any further questions or need more information.