Property – Taxes & Fees

As it happens everywhere, the transfer of real estate gives rise to the collection of various duties and taxes by the government.

 

In the event of the acquisition of a real estate property

The total taxes (called: “Transfer fees”) to be paid off when selling a property in Thailand is 7% on the declared price of the transaction.

These taxes include the “withholding tax”, transfer fees, stamp and stamp duties and the “business tax”.

Generally speaking, and without any agreement to the contrary between the parties, half of the payment of these taxes is borne by the seller and the buyer.

 

In the event of the creation or acquisition of a long-term lease.

It should be noted that taxes and fees of around 2% also apply when registering long-term rental contracts.

These taxes include registration fees of  1%, a municipal tax of 0.1%, mortgage registration fees of 1% (capped at THB 200,000) and stamp duties and stamps for 0.05%.

Generally speaking, these costs are borne by the beneficiary of the lease contract.

 

Cost and legal fees

Buyers should expect to pay a fee of between THB 50 000 and THB 150,000 to complete their acquisition; these fees include various services: control of property titles, drafting of the reservation and sale contract and transfer of property to the Land Office.

If the acquisition is made through a firm or “company” you will have to pay the costs of this company’s establishment.