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Foreigners in Thailand should study leaseholds
Though leasehold remains an option for foreign buyers wanting to own a residential unit, there are some pitfalls they should avoid when making contracts.
Opening a Bar or Restaurant in ThailandThe conventional wisdom floating around is that if a foreign owner doesn’t go into the kitchen during opening hours, he or she can run the restaurant without a work permit. Wrong
LEGAL PROBLEMS of home ownership in Thailand
Buying real estate | Selling real estate
Buying Selling a Condominium
Buying Selling a Condominium
Property TaxationThere are two different types of Tax levied on property in Thailand and they are called: Land Tax and Structures Usage Tax
Land Taxis a very small tax levied on land ownership equivalent to just a few Baht per Rai every year.
Structures Usage Taxis applicable at the rate of 12.5% on the actual (or assessed) gross rental value of the property.
Lesseesare not subject to this tax but may be required by the real estate developer to pay an annual ground rent instead.
How to Pay for propertyIf you are purchasing property in Thailand and you want to pay in Thai Baht ensure that your funds are transferred into Thailand in foreign currency and converted to Thai Baht here.
The reason for this is that the receiving bank will issue the relevant exchange control form ( formally the Thor Tor 3 form ) confirming the transaction.
The relevance of the exchange control form is that it is one of the documents you will need in the future if you wish to repatriate funds without incurring tax (15%)
Chiang Mai Thailand
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