Buying property in Thailand has always been very a good choice for British visitors as many see Thailand as being cheaper and much lower cost of living than Spain. Some Brits who arrive in Thailand always seek the advice and expertise of a property solicitor in Bangkok which has become very popular for Brits where most buy condominiums.

Many British citizens also look for a property solicitor in Pattaya as Jomtien in Pattaya City is very popular. Considering buying property remember the transfer taxes. This is calculated as follows. When transferring land, there will be a 2% transfer fee, 1% withholding tax and 0.5% stamp duty. If the land is being sold by a company or an individual that has owned it for less than five years, there will be business tax of 3.3%.

Also, company income tax or capital gains tax for individuals must be paid on the profit. Taxable value for calculating transfer fees is based on the higher of the purchase price or the government valuation. The government valuation can often be significantly higher than the purchase price and be quite a surprise to the seller and buyer. You should negotiate with the seller to pay some or all of the costs. If there is back tax owed on the land, it will have to be paid before transfer.

Many foreigners and expats in Thailand mainly decide to lease property while in Thailand before they buy any real estate or make any property investment. Speak to our lawyers in Thailand for more information.

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