Reduction of Land Office Registration Fees in 2023
Thailand’s cabinet approved tax measures that will benefit property purchases in 2023. Land and property tax were reduced, along with some registration fees being cut.
Short-term rental businesses via online platforms in Thailand
As part of the steady economic recovery from the COVID-19 crisis, Thailand is gradually attracting tourists back into the country. Due to the increased number of visitors, short-term rentals through platforms such as Airbnb, including daily rentals, are in high demand
Buying a House in Thailand – Handover Checklist
When the owner of residential property changes, the last step after the visit to the land office and the receipt of the money is crucial: the handover of the keys; after this, the previous owner moves out, and the buyer moves in. At this point, all documents are handed over, a joint tour of the house is made, and meter readings and defects are noted. It makes sense to draw up a protocol for the handover of possession so that the sale of the house does not have any repercussions. We have summarized what you should pay attention to in the house handover protocol.
Thai Government Regulations for Rental Business
Due to the increasing popularity of condominiums and apartments in the city, which comes with several issues related to rental and utility bills; as a result, the Contract Committee of the Consumer Protection Board has issued a new notification, the Stipulation of Residential Property Leasing as a Contract-Controlled Business B.E. 2562 (2019) (the “Notification”), published…
How FRANK Legal & Tax Can Assist You – Real Estate & Construction
Are you thinking about buying or selling a property in Thailand? FRANK Legal & Tax specialises in handling real estate transactions across the Kingdom of Thailand and overseas. The real estate legal services we provide include: Real estate due diligence Do you want more information about the land or property you intend to purchase in…
The Sap-Ing-Sith – Is Thailand’s New Property Right a Game Changer?
The Thai Land Code stipulates that – apart from a few exemptions – foreigners are not permitted to own land in Thailand. Many foreigners seeking to buy immovable property in Thailand, therefore, chose legal structures like leasehold, usufruct, or ownership of the property by a Thai company, to mitigate the restrictions. However, these legal structures…
Residential Property Leasing as a Contract-Controlled Business
Overcharging tenants for electricity and water was a common practice among landlords in Thailand. Weak regulations laid the foundation for the collection of exaggerated deposits and punitive methods of landlords if tenants did not pay their rent. The Contract Committee of the Consumer Protection Board aims to end such practices with “the Regulation of Residential…
How to Secure the Purchase of Property?
The purchase or sale of a property is a legal transaction with a far-reaching legal and financial impact. To secure a prospective purchase or sale of property legally, both the buyer and the seller may enter into a so-called Memorandum of Understanding (MoU) on the intention to conclude a main contract later. The parties of…
Bangkok Property Market Performs Strongly in 2017
In Q4 2017, the Bangkok condominium market grew steadily, particularly in the downtown area of the city. The number of new properties launched in 2017 overall also grew year on year by, with a 51% increase compared to 2016. Bangkok’s condominium market is likely to continue to grow in the future, given the many new…
Phuket Residential Property Market – Updates
Looking at the period January to June 2017, Ninety percent of Phuket resort property purchases were in the range of THB 5-35 M per unit for villas and THB 8 M or under for condominiums. Investors are looking for rental yields of between 5-7% over the course of two to five years. Expatriates from across…
Good news for property buyers
The cabinet has on October 13, 2015, approved significant tax incentives related to the property sector. The property transfer fees were reduced from 2% to 0.01% and the mortgage fee from 1% to 0.01%. The purpose is to support low-income earners who would like to buy homes priced below 3 million baht. The reductions will…
New Inheritance Tax and Property Tax in Thailand?
Plans to reform Thailand’s tax system, including the introduction of inheritance and property taxes, have been approved by the Chief of the military-led National Council for Peace and Order (NCPO), Gen.Prayuth Chan-ocha. The proposed reforms would raise revenue by increasing taxes primarily on the wealthy. Thailand’s Ministry of Finance (MOF) has said Chan-ocha wants the…
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