An alien or an alien juristic person may hold ownership in a condominium unit in the ratio of not more than 49 percent of the total space of each condominium building while requesting to register as a condominium under Section 19 bis as amended by the Condominium Act (No. 4) 2008, Section 4.

      Once the foreigners prepare to carry out the procedure, they must also prepare to pay the various costs of the procedure, as described below. 

1. Application for land acquisition by foreigners, 500 baht per person;
2. Permission fee, 100 baht per rai;
3. Heritage manager registration fee, 50 baht per plot;
4. Inheritance transfer fee, 2% of the appraisal price of the property (except for the transfer of inheritance between ascendants and descendants or between spouses, collecting 0.5% of the appraised value);
5. Transfer fee for buying land/ condominium: 2% of the appraisal price of the property;
6. Transferring fee for the condominium 0.5%. In the case of affection, there is no compensation between parents and descendants or between spouses.

Withholding tax 

1. In case of inheritance under Section 93, there is no withholding tax;
2. In other cases, such as buying or accepting, both juristic persons and individuals pay 1% of the appraised value or the cost price, if it is higher than the progressive rate calculated from the appraised value, according to the method specified in the Revenue Code.

Specific business tax 

1. In case of inheritance under section 93, a specific business tax is not payable;
2. In other cases such as buying or accepting, the owner will have to pay 3.3% (including local taxes) of the appraised value or the cost of the property, if it is higher.

Stamp duty 

1. In the case of inheritance under Section 93, stamp duty is free;
2. Other cases, such as buying and receiving, the owner must pay 0.5% of the appraised value or the cost of the property, if it is higher.

Source : Real Estate Information Center (REIC)
Tel : +66 2 202 1768