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Things to know before purchasing property in Thailand

Things to know before purchasing property in Thailand

Rights & Obligation

         1. Condominium

Foreigners can own the condominium according to Thai law, but not more than 49% of the project area in each project. So, each project will have an allocation for foreigners called “foreign quota”. There are 2 types of the condominium ownership which are

1.1 Freehold – The seller can transfer rights to the buyer allowing the buyer the right to resell, and own the property or land.

1.2 Leasehold – The maximum limit for land lease is 30 years, any extension to the lease is a private arrangement and the buyer has no formal legal rights after 30 years.


Transaction cost for purchasing property in Thailand

      1. Buyer

A related cost the buyers shall undertake is the transfer fee only, this is amounting of 2% of selling price. The buyer pays half which is 1% of the selling price, and the seller pays the other half of the transfer fee.

      2. Seller

For presale project, all of the tax fee falls to the developer responsibility.

For resale project, the seller shall be responsible for

2.1 Withholding tax that is 3% of selling price

2.2 Specific business tax that is 3.3% of estimated price or market price, whichever is higher.

2.3 Stamp duty that is 0.5% of selling price, it must be paid when transferring occurred. This transaction fee, the seller is solely responsible for this fee.

2.4 Transfer fee that is 1%, in this fee the seller pays half of the total transfer fee with the buyer


What documents are needed?

       1. Personal purpose – If you buying for your own use, you need to prepare the following documents;

1.1. Passport

1.2. Copied of passport

1.3. Copied of visa

1.4. Marriage certificate

1.5. Document from partner, if married need to present letter of consent

1.6. POA (Power of Attorney) in order to assign the agents to do certain task for you

        2. If you are foreigner and using the company name

2.1. Affidavit

2.2. Shareholder certificate (if any)

2.3. Capital amount (must more than a condominium’s selling price)

2.4. Copied of shareholder’s passport

        3. If you are Thai and using the company name

3.1. Affidavit

3.2. Shareholder certificate

3.3. Copied of shareholder’s ID


Payment process

It should be noted that each project and developer has different payment processes. The example given is a general process used by many developers. Once a condominium is chosen, the buyer is required to pay a booking fee. The buyer will then usually have 7 to 14 days to pay a 10% deposit to the developer made via bank transfer. A sales and purchase agreement is then sent to the buyer within 30 days. This should be signed and another 10% payment made, typically within 30 to 45 days of the booking fee having been paid. No further payments are due until the property is completed. Generally speaking, we call this “International payment terms”  since it divided into 20:80. The buyer pays for the first 20% and then another 80% will be paid at time of transfer of ownership.


Visa by investment

There is no government scheme that the foreigners will automatically get a visa when they buy the property in Thailand. However, there are a few ways to get visa through buying a property in Thailand.

Firstly, if there is a minimum of 10M THB investment, it is possible to get this visa even though it is not in one investment. A combination is possible as long as one invests in:

  1. A legally defined condominium unit (either freehold or a 3-year or more leasehold)
  2. The form of a fixed deposit with a Thai bank, under the condition that Thai nationals hold more than 50 percent of the shares, or
  3. Purchase of government or state enterprise bonds

Secondly, Thailand elite visa, the visa that is designed to attract affluent guest, businessmen, entrepreneurs, investors, and long-stay groups by offering enhancing benefits, privileges, rights and services to the holder. There is some special offers from some condominium projects that has partnered with this campaign. So, when their foreign customers buying the property of their project, the developer will grant the rights to apply for elite visa with no extra cost to their customers as a promotional campaign right away.

Below shows the Thailand Elite Membership Individual Visa Packages:

                     


How to transfer funds?

When the customer agrees to buy, a Thai bank will coordinate with the developer to issue an FET (Foreign Exchange Transaction form), issued by a BOT (Bank of Thailand) licensed financial institution inside Thailand. The Bank of Thailand handles the exchange of a certain amount of foreign currency into Thai baht.


Bank loan/ Mortgage

As of now, there was no local mortgages available through Thai banks for expats who wish to buy a place in Thailand. Most Thai banks do not offer mortgages to foreigners which means that you have the money upfront to buy the property in Thailand. In that sense, you may have to transfer your savings, or find a loan source in your home country and pay in Thai baht.

However, there are few mortgages offer to foreigner wishing to buy the property in Thailand which are, Singapore based UOB offers some mortgages for overseas buyers, with some restrictions, as does privately owned MBK Group which offers up to 50% of property value.


Legal

Purchasing property in Thailand for foreigners is not a complicated issue, the process is simply and straightforward. Buyers do not required the assistance from the lawyer since the selling agent will be take care of this with no additional cost unless they want an opinion on the sales and purchase agreement as the entire process is managed by the developer and the selling agent. The transfer of ownership is made by the developer at the Land Office. All payments can paid in any currency, since it will eventually be exchanged in Thai baht.

For second hand purchase, the procedure is similar except the payment schedule may be shortened. Usually, a 10% deposit is paid and held in escrow by the selling agent while a sales and purchase agreement is prepared. However, the buyers need not to contact a lawyer to process for them since the selling agent will be take care of this with no additional fee. The buyer needs to sign a power of attorney, so that the agent can act on behalf of the buyer. Once the agreement is signed, a date for transfer at the Land Office is agreed and payment is handed over to the seller in front of a Land Office official, in return for an endorsed title deed.

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在泰国购买房产之前需要了解的事项

在泰国购买房产之前需要了解的事项

Rights&Obligation

  1. 土地

外国投资者可以购买最多1 RAI(1600平方米)土地(2.57 平方米= 1英亩或0.4公顷)。尽管外籍人士很难成为这片土地产权的拥有,但是,以下这些是对外籍人士拥有合法所有权的一些说明。

          1.1 在泰国投资,在某些活动中金额不低于40MB(4千万泰铢),并保留不少于5年。对于获得资格的外籍人士出资成为土地所有者的投资方式如下:

                 1.1.1 政府债券

                 1.1.2 房地产互惠基金投资

                 1.1.3 通过公司持有股份,但泰国股东必须持有公司的大部分股份

                 1.1.4 任何符合BOI的投资

         1.2 获得内政部长的批准

         1.3 通过泰国的合作伙伴

 

  1. 共管公寓

根据泰国法律,外籍人士可以拥有共管公寓,但每个项目不超过项目区域的49%。因此,每个项目都会为外籍人士分配一个名为“外国配额”的政策。有两种类型的公寓所有权如下:

         2.1 永久拥有权 – 卖方可以将权利转让给买方,允许买方转售并拥有该房产或土地。

        2.2 租赁权 – 土地租赁最高限额为30年,任何延期租赁为私人安排,买方在30年后没有正式合法权利!


泰国购买物业的交易成本

  • 买方

买卖双方一共承担销售价格2%的转让费用。买卖双方各承担一半的转让费,也就是说销售价格的1%。

  • 卖方

对于预售项目,所有的税款都由开发商负责。

对于转售项目,卖方应负责

         2.1 预扣税是销售价格的3%

        2.2 特定营业税为估计价格或市场价格的3.3%,以较高者为准。

        2.3 印花税是销售价格的0.5%,转让时必须由卖方支付。此交易费用。

        2.4 转让费是1%,在这个费用中,买卖双方各支付总转让费的一半。


需要什么文件?

  1. 个人目的 – 如果您为自己购买,您需要准备以下文件;

                1.1. 护照

                1.2. 护照复印件

                1.3. 签证复印件

                1.4. 结婚证书

                1.5. 来自伴侣的文件,如果已婚者需要提交同意书

                1.6. POA(授权书),以分配代理商为您完成某些任务。

       2. 如果你是外国人,并以公司名义

                2.1. 宣誓书

                2.2. 股东证书(如有)

                2.3. 资本金额(必须超过公寓的销售价格)

                2.4. 股东护照复印件

      3. 如果您是泰国人并以公司名义

                 3.1. 宣誓书

                 3.2. 股东证书

                 3.3. 股东身份证复印件


付款流程

一旦确定了公寓,买方将需要支付预订费。 买方通常会在7至14天时间内向开发商支付10%的定金。 销售和购买协议将在30天内发送给买方。 通常在预订费用支付后的30到45天内,应该在签署后并且另外付款10%。 在楼盘完成之前不会再支付任何费用。 这种情况,我们称之为

我们叫这个“国际贸易交易条件”付款,分为20:80。 买家支付前20%,然后在楼盘完成相关操作后支付80%。


投资签证

没有任何政策限制,外国人在泰国购买房产时会自动获得签证


如何转账

当客户同意购买时,泰国银行将与开发商协调发布FET(外汇交易表),由泰国境内的持有BOT的正规金融机构发行。 这是泰国银行在处理将一定数量的外币兑换为泰铢时所需的手续。


银行贷款/抵押

到目前为止,还没有地方贷款给在泰国购房的外籍人士提供房贷。大多数泰国银行不向外国人提供抵押贷款,这意味着你要有足够的钱在泰国购买房产。从某种意义上说,您可能需要转移您资产,或在您所在国家/地区找到一个贷款来源,并支付泰铢的费用。

不过,对于希望在泰国买房的外国人,几乎没有什么抵押贷款。新加坡的大华银行也为海外买家提供了一些抵押贷款,但是其中有一些限制措施,比如私人控股的MBK集团。


法律

在泰国为外国人购买房产并不是一个复杂的问题,这个过程简单明了。买方不需要律师的协助,因为销售代理将会在没有额外费用的情况下处理这一问题,整个过程由开发商和销售代理管理,除非他们想要对销售和购买协议提出意见。因为整个过程由开发者和销售代理人负责。开发商所持有的所有权转让是通过国有土地管理局授权的。所有付款都可以以任何货币支付,最终它都将兑换成泰铢。

对于二手购买,除了可以缩短付款时间之外,该程序是相似的。通常,10%的定金由销售代理支付,并由销售代理保管,销售和购买协议是同时具有。然而买家不需要联系律师来处理,因为销售代理中国将不会收取额外费用。买方需要签署一份委托书,以便代理人可以代表买方行事。一旦协议签署,国有土地管理局的转让时间通过,并在国有土地管理局官员的面前交付给卖主,以换取被认可的所有权契据。

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