What are measurements using for land in Thailand?
In Thailand, Land is measured in Rai, Ngan and Wah.
- 1 Rai = 4 Ngan (or 1600 Sq.m.)
- 1 Ngan = 100 Wah (or 400 Sq.m.)
- 1 Wah = 4 Sq.m.
- 1 Acer = 2.5 Rai
- 1 Hectare = 6.25 Rai
Land prices are usually expressed in Baht per Rai or Baht per Wah. Condominium prices are usually expressed in Baht per Sq.m. The tables below should help you convert measurements to the ones you are most familiar with.
Is a visa required to enter Thailand?
You can stay in Thailand without a visa for up to 30 days, after which you should apply to the Thai Immigration Office before the visa expires. If you will be in Thailand on business, you must apply for a “non-immigrant category B” visa. Retirement visas are available for foreigners over 50 years of age and are issued according to financial means. Other forms of visas such as investment visas which is based on financial considerations.
How many category of land title deed in Thailand?
Categories of land title deed in Thailand may be mainly divided into 4 categories:
- Free hold Title Deed (Chanote or Nor Sor 4)
This type of title grants the holder of this document the full rights over the land. Thus, if you are planning to buy land in Thailand, this type of title deed is the best option.
- Nor Sor 3 Gor
A land awaiting a full title deed is granted the document Nor Sor 3 Kor. The land is measured by the Land Department; therefore, it has its exact boundaries. The owner knows exactly what he owns. This type of land may be sold, transferred, or mortgaged, as a land with freehold title deed (Chanote). The owner of the land may file a petition to the Land Department demanding to change it to a full title deed (Chanote), and the Land Department may do so if there is no opposition made against the petition.
- Nor Sor 3
A difference between this type of land title deed and the previous one is that a land with Nor Sor 3 has never yet been measured by the Land Department; hence the land has no exact boundaries. However, Nor Sor 3 may later be switched to a Nor Sor 3 Gor, then a freehold title deed (Chanote) in the future.
- Possessory Right
This type of title deed is least recommended. A land with a possessory right has never been substantiated by Department, but is only recognized by tax payments at the Local Administrative Office.
Differences between lease-hold and free- hold?
When you buy a freehold property you are purchasing the house and the land that it is built on.
When you buy a leasehold property you are buying the house but not the land that it is built on, which is rented from a third party for a period of years.
At the end of that period, which is usually quite a long time, you will have to give the house and the land back to the person who owns the land, unless you are able to buy the freehold interest in the interim.
What about Land Appraisals & Valuations?
Finding the exact appraisal price for land is difficult, since there are generally three different appraisal rates; the government rate, the appraisal company’s rate and the rate which is considered to be fair market value of the land. Over the last few years all of these rates have begun to come closer together.
What is a condominium in Thailand?
According to the Condominium Act B.E. 2522 (A.D. 1979), a condominium is defined as a building that can be have its separate portions sold to individuals or groups for personal property ownership.
What is a foreign-quota?
According to the corresponding Thai laws (Condominium Act) only 49 % of all units in one condominium building can be owned by foreigners and their id can be put into the corresponding title deed of the condominium unit, checking the availability of a so called FOREIGN-QUOTA.
Can a foreigner legally own a condominium unit in Thailand?
Any non-Thai who has legally entered into Thailand may have a freehold ownership over a condominium unit, constructed on a land of less than 5 rai, of certain projects in municipal jurisdictions of the Kingdom, such as Bangkok, Pattaya, and Phuket. However, condominium units owned by a foreigner shall not exceed 49% of the total space of the condominium project. Other restrictions are applicable. A non-Thai owner of a freehold condominium unit may transfer a property to other foreigners. If you wish to buy a condominium in Thailand, there are certain points of which you should be aware before choosing your new property:
– How much will monthly maintenance fees and charges be?
– How much are sinking funds? (For a use of common parts of condominium)
Some condominium projects have never been finished for various reasons, so consider carefully before buying. If you are interested in a used condominium, verify that your ownership of this property would not rise above a total of foreign-owned total space of all units to more than 49% of total owners. If you really want to buy a unit in a building that already reaches the 49% ratio, you can still buy if you open a Thai company (ownership 49% foreign + 51% Thai.
How can a foreigner own a house and land in Thailand?
As the Thai Government does not allow a foreigner to own land (which a house is obviously built on). In Thailand, a house would come with a title deed (Chanote) that will also show a certain amount of land with the house, which will be registered to the owner of the property as well. As stated above, legally and technically a foreigner cannot own land in Thailand. There are a few small cases and a few new laws (over a certain age, with so much money, in certain areas of Thailand, married to a Thai National and have so much money…etc.) that might accept foreign ownership of land in their id, but the above is the normal scenario. Most often, foreigners here form a company of dominantly Thai National share holders (usually about $250 to $500 U.S. Dollars to form and register the company properly). When a registered company’s shareholders sign ‘share release forms” one individual may ‘become’ the managing director and only signatory for the company. The managing director may then sign for property purchases and the company (managing director) owns the property (house and/or land). A Thai national must own 51% of the firm, but the firm will be organized so that you have all the economic and juridical rights. In addition, by using this system, it will be easier for you to buy a car or to get residence permit. You have to pay at least 30% as a deposit, and then the original owner of the house is committed to you. The company (managing director) is also able to transfer ownership by selling the position in the company which owns the property and/or sell the property outright at anytime in the future. Ownership of land is governed by the Land Code BE 2497 (1954), the Civil and Commercial Code, Land Reform for Agriculture Act BE 2518 (1975) and the regulations set forth by the Ministry of the Interior.
For a foreigner who is married to a Thai citizen, the Thai spouse can buy property using his or her id only.
A foreigner who invests 40 million baht or more in a Thai Company is eligible to purchase land and a house at the size of maximum 400 square wah maximum total land area.(1 square wah = 4 square meters).
A foreigner who invests with a Thai registered company at 49-51% ownership (unlimited amount), foreigner share holder at 49% of ownership can purchase land and house with unlimited size and amount of investment through company registered id.
My wife is Thai can she own house/land?
Since 1999, Ministerial regulation now allows Thai national’s married to foreigners the right to purchase land, but the Thai spouse must prove that the money used in the purchase of freehold land is legally solely theirs with no foreign claim to it. This is usually achieved by the foreign spouse signing a declaration stating that the funds used for the purchase of property belonged to the Thai spouse prior to the marriage and are beyond his claim.
Can a foreigner obtain a mortgage?
Foreigners can not get a mortgage loan from local banks in Thailand to buy property, unless they have a Thai partner willing to act as guarantor. There are numerous other conditions too, so if you wish to go this route, make sure you have a totally reliable Thai partner, and you have plenty of demonstrated income (either here in Thailand, or from overseas). The purchase money must be transferred from banks outside Thailand, in foreign currency form. The buyer must state that the purpose for the money transferred is to purchase a condominium unit in Thailand on the funds transfer document. The Bank is then able to issue the form of TT3 (Thor Tor 3) or Authority to Purchase for the relevant land office in Thailand, giving the foreign buyer authority to purchase.
Once you have found the property you made a decision to go for you must put a deposit is usually required to secure an agreement to purchase and sell such a property and remaining balance should be made within 30 to 60 days on the transfer date of the ownership and pay the transaction expenses to the Land Department. You can obtain longer periods but you will probably be required to pay a higher deposit. Deposits are normally non refundable, except by default of the vendor, so bear in mind that once the deposit is placed you are committed.
- Purchasing contract?
On the same date you put the deposit to the seller both parties have to sign a purchase and sell agreement that shall stipulate a time limit which both the buyer and seller will complete a ownership transfer and pay remaining balance to the seller. If either party fails to meet the obligation, the failing party will have to pay a penalty. For example, their deposit could be forfeited or if the seller was wrong, the deposit would have to be refunded.
How many types of rental apartments in Bangkok?
Generally, there are 3 major types of apartments which are Apartment, Serviced Apartment, and rental condo.
If you were asked to define what an apartment is in the sprawling and heavily populated City of Angels, you would probably be stumped. Unlike in most other places around the world, an apartment can mean anything from a single unfurnished room, without a phone or with only a cold-water shower and a toilet down the hall, to huge, luxurious living spaces that are apartments only in the sense they are in a building with other residences. Rents for low-end apartments in the suburbs start at around 1,000 baht a month, while rents for high-end apartments in Central Bangkok near Sky train or Subway can top 60,000 baht easily.
- Serviced Apartments
Serviced Apartments might be still apartments, but they offer all sorts of extras � all designed to keep tenants feeling at least comfortable and at best downright spoilt! Similar to a hotel in that they provide the same type of services, serviced apartments provide tenants (who currently can stay for just a night if they wish, but may by law need to stay for at least a month soon) with far better value for money. Most importantly, serviced apartments offer ultimate convenience, a crucial consideration for their mostly busy-with-business tenants. Fuses, plumbing, breakages, cleaning, washing and technical issues can all be fixed within minutes, while in-house restaurant facilities allow the guests the option of fine dining at home.
- Rental Condos
More likely to an apartments but is owned by an individual owner who lets out units within the building on a short or long-term, the style of decoration and furniture are different.
- How fast can you find me somewhere to live?
Find your new apartment or house thru our friendly quick search system-By your criteria-as soon as we know what you are looking for we will prepare a list of locations to visit. We only need a couple of hours notice, and we have a very good success rate. We want to make sure you are happy with your choice so don’t have to worry about wasting time. We’ll take as long as (or as short as) you need. Naturally, it’s all part of our service. We will work with you to find the most convenient and comfortable location, and show you a range of properties until you decide on the one you like best.
- What documents do you need when renting apartment?
The foreign renter shall provide documents as follows:
– A certified copy of the passport
– A contract rent agreement: the relevant paperwork as contract between the landlord and the tenant. ( At the end of the contract, the landlord will conduct a final property evaluation, any expenses will be deducted and the deposit returned to the tenant)
– A copy of work permit (if any)
Standard rental periods are for one to two years. In most cases you will need to pay a 2 month deposit and one month rental in advance when you sign the contract. Sometimes, especially for longer contracts, the landlord may require 3 months deposit. The deposit is refundable when you move out, although the landlord may deduct expenses for any damage to the property during your tenancy. For a shorter lease you might be able to negotiate a smaller deposit.
If you own a condominium unit the only utility bill that’s not issued from the government is a water supply because the condominium building has to pump a water to it’s own tank normally provide on a roof top of the building and use a gravity to flow to your unit that means the building has to pay an electricity bill incurred from the pump. This is a reason why a unit price for water supply in every condominium building is higher than private house. Normally the water supply unit price is between 16-25 baht/cu.m. For other utilities such as electricity, telephone, etc. shall be issued directly for a government or a service provider, no extra charge to the building. If you are renting, most buildings will pay the bills for you and add them to your monthly rent such as telephone fee, electricity fee, etc.
It is a good idea to find out the cost of utilities before you move in so that you know how much you will have to pay. If you are living in a house, we can advise you on the best methods of payment. For example, most utility bills can be paid direct from your bank account and the receipts sent to your residential address. Nowadays, you can also pay utility bills at any 7/11 store.
If you rent a house, all major maintenance is the landlord’s responsibility. This includes the maintenance and repairs of the power supply, water supply, air-conditioning systems and structural damage not caused by the tenant. The tenant is responsible for minor repairs such as broken lights and windows. If the house has a garden or swimming pool, the tenant is also responsible for the maintenance cost (in some cases, the landlord will bear this cost).
What if we find we do not like the apartment or condo and want to break the lease?
This is not so easy, as an agreement has been reached. Usually a lease has a clause allowing you the peaceful and undisturbed use of the property. Should construction start up next door or you find there are other conditions which prevent you living peacefully, this clause could be used to break an agreement.
The best way might well be to meet your landlord and explain your problems. The landlord might agree to refund all or part of your security deposit if he or she is reasonable and your complaints are valid.
Can I legally rent out a property in Thailand?
Yes. A foreign-owned property may be rented out. Some banks may allow you to open an account to collect the rents. You, as a non-resident, must be aware that personal income tax shall be deducted from your income earning in Thailand.
What taxes am I subject to pay to rent out my property?
Most landlords prefer to sign contracts with individuals rather than with companies. Most contracts are broken up into three agreements
- condo/house rental
- furniture rental
- management /service
This is done to reduce the landlords household tax (local property tax) which applies to property rental. If the contract is with an individual, the rent is usually the total payable.If the lease between a landlord and a company, then the situation different. There is withholding tax deducted by the tenant and paid to the government.
– leased condo/house 5% withholding
– leased furniture 5% withholding
– management/service 5% withholding
Moreover if you rent out the property, the housing tax is 12.5% per year on the annual rental revenue (Tax on operation). This explains why most landlords prefer to sign contracts with individuals rather than with companies, as they don’t want to lose 12.5% of their revenue.