Before entering into a sale and purchase transaction for a condominium unit, it is necessary to verify the title documents, the appraised cadastral value of the property, and the amount of taxes and fees payable upon registration of the transaction. Taxes and fees are calculated based on whichever amount is higher: the appraised value or …
Why may the total rate of taxes and fees vary upon transfer of ownership. The rates of transfer fee, Specific Business Tax, stamp duty, and withholding tax (where the seller is a legal entity) are established as a percentage of the property value. If the seller is an individual, the withholding tax is calculated using …
Purchasing a Condominium Unit: Calculation of Withholding Tax Read More »
Different visa categories are available for different purposes of entry into Thailand. Below is an overview of the most common categories, with explanations and important points to consider in advance (as of 2018). Tourist Visa or Visa Exemption Stamp. Suitable for short trips, such as a two-week holiday, a one to two month vacation, or …
The general meeting of co-owners is a key management tool for a condominium in Thailand. Important decisions are made there, governing bodies are elected, and financial documents are approved. The procedure for holding such meetings is established by the Condominium Act and is binding on all participants. Who convenes the meeting and when. The first …
How to Convene a General Meeting of Condominium Co-Owners Read More »
A company director in Thailand bears serious responsibility before the state, including potential criminal liability. This is often overlooked by directors of “dormant” companies registered solely for holding real estate. Even where the company has no active business operations, the director’s duties include: Failure to fulfill these obligations may result in fines and other penalties. …
Purchasing an apartment during the construction stage is common practice in Thailand. However, even when signing an official contract with a developer, it is important to remember that failure to follow the payment schedule may result in losing the apartment and suffering financial losses. Let us review the buyer’s obligations and the circumstances in which …
How Not to Lose Your Apartment When Buying from a Developer Read More »
When purchasing a condominium unit in the Thai quota or a house, foreigners may obtain the right to use the property through a long-term leasehold for a period of up to 30 years. This is a common and lawful way to use property that cannot be directly owned freehold by a foreigner. Key features of …
If we are speaking about a condominium unit, there is only one title document, which is the Chanote. If we are speaking about a land plot, several options are possible. In Thailand, there are approximately 20 types of land title documents. However, the most reliable and preferred option remains the Chanote. Another acceptable option is …
Continuing the topic of condominium co-owners’ rights, today we will discuss the governing bodies, their duties and powers, the possibility of supervising their activities, and the participation of co-owners in management matters. The Condominium Act clearly defines which bodies are responsible for specific matters, how they report, and how they interact with the General Meeting …
The InvestEast seminar titled “Real Estate Transactions: Preparation, Registration, Taxation. Theory and Practice.” took place on 16 March 2018 at the showroom office of developer Matrix Development. This was the second event of the season, where we covered all key matters relating to the preparation and registration of real estate transactions in Thailand, with examples …
Real Estate Transactions: Preparation, Registration, Taxation. Theory and Practice Read More »
