Over the past several weeks, we've discussed the various taxes applicable in a property deal in Thailand. This week we'll look at an example that covers all of them.
Let's say you are a foreigner who wants to buy a house at a development in Thailand, with all funds coming from your personal savings. Because foreigners generally can't own land in Thailand, your employer, whom you've known for a long time and who is Thai, will hold title to the land and lease it to you for a period of 30 years.
As discussed earlier, foreigners can own houses, so you will buy the house. There is a trend at some land offices, not to recognise house ownership by foreigners. Therefore, before you plan to take title to a house, you should check to make sure your local land office allows this.
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