We talk about the value of the land and equivalent tax rates
| The value of the land | Tax rate |
|---|---|
| THB 51 million – THB 200 million | 0.40% |
| THB 201 million – THB 1,000 million | 0.50% |
| THB 1.001 million – THB 5.000 million | 0.60% |
| More than THB 5,000 million | 0.70% |
How much is the land transfer tax in Thailand? Transfer Tax – The land department levies 2% of the property value based on the registered value.
The inheritance tax rate is 10%, except in the case of heirs who are ascendants or descendants of the testator, where the rate is 5%. Legacies received by a testator’s spouse are exempt from tax.
| Income (THB) | Tax % |
| below 50,000 | exempt |
| 150,000 – 300,000 | 5% |
| 300,000 – 500,000 | 10% |
| 500,000 – 750,000 | 15% |
| 750,000 – 1,000,000 | 20% |
| 2,000,000 – 4,000,000 | 30% |
| over 4,000,000 | 35% |
There are many good reasons to invest in Thailand property. The country has shown strong and steady growth in recent years and looks set to continue this trend. House and land prices are generally on the rise, as are rents, and this presents some interesting real estate investment opportunities in the market.
Can foreigners invest in real estate in Thailand? In general, foreigners are not allowed to directly buy land in Thailand. Basically, Thai laws prohibit foreigners from owning land in their own name, although in theory there is an exception, but it remains to be seen in practice.
Under the right circumstances, buying a condo in Thailand can be a rewarding purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand, there are several issues that you need to know. Thai law only allows foreigners to buy condos under certain circumstances.
Thailand is ASEAN’s top tourist destination. It has been recognized as a dream destination and is the ideal place for a real estate investment. Many destinations are available and offer rental return investments, from 7% to 9% net per year.
Is buying a property in Bangkok a good investment? Absolutely. Bangkok is a valuable business center for Thailand and has long been one of the most popular tourist destinations in Southeast Asia. As a result, there is a healthy rental and resale property market in Bangkok.
Yes. Foreigners can legally buy property in Phuket. You can own units in a registered Condominium (Foreign Freehold or Leasehold), and you can buy a House, Villa or Apartment (Leasehold). Under Thai law, foreign nationals are not allowed to own land in Phuket.
Can non-Thai citizens buy property in Thailand? Under Thai law, foreigners cannot own land directly in their name. However, they can buy condos outright (Freehold) or buy a freehold property and lease the land (usually for 30 years, with the option to extend) on which the property is located.
Foreigners are not allowed to buy land in Thailand, but you can buy apartments and condos as a non-citizen. However, foreigners cannot own more than 40% of the apartment block or total condominium unit owners. Interestingly, you can buy the entire building as a foreigner, but not the land on which it is built.
Foreigners cannot buy land in Thailand, only condominium units and apartments. Foreigners cannot own more than 40% of the condominium unit owners. In any case, a foreigner can buy a whole building, minus the land on which it is built.
By law, it is necessary to obtain authorization from the local administration for any construction, alteration and demolition of buildings. You need to get this to ensure it meets building safety standards and zoning requirements for the general safety of the public.
Can foreigners build a house in Thailand? It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built on it. One only has to apply for a building permit to build the house in his name. The next step is to thoroughly familiarize yourself with the process of buying real estate in Thailand.
Can foreigners buy or own a house in Thailand? Yes. Foreigners can own a house, but only the building itself, not the land it stands on.
A reasonable quality house to be built in Thailand by a proper contractor with proper supervision would be 30,000-40,000 baht per sqm. Luxury starts at maybe 40,000 baht per sqm.
You can build the property only when the city authorities approve your construction plan. In addition, you need a certificate of authorization from the development authority, apart from authorizations from other state departments, such as the departments of fire safety, environment and transport.
Besides the beautiful beaches, delicious food, incredible nightlife and adventure activities, Phuket is also known for its culture and wonderful temples. The rich culture and colorful history of Phuket has so much to say.
Why is Phuket unique? It is a place where you can immerse yourself in the best views of the sunset, which cannot be found anywhere else in the country. But there are many other things that Phuket is also known for. It boasts beautiful temples, white sandy beaches, wellness & spa facilities and fabulous local restaurants.
As many embraced its natural beauty and hospitality, hotels and resorts began to open. In the 1970s, backpackers began to flock to Phuket. Soon, a modern airport opened, and by the 1980s, Phuket was known worldwide as a major tourist destination.
Phuket is a popular tourist destination all year round, but some times of the year are considerably busier than others. When the weather starts to get colder in the northern hemisphere from November to March, many make the decision to throw away the snow and sniffles for the sun, sea and sand of Phuket.
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