QUESTIONS AND ANSWERS

HOW LONG HAVE YOU BEEN MARKETING PROPERTY IN THAILAND?

Since 2004, we have been here on site in Thailand, and have both sold and built houses and condos in Pattaya. We have staff who speaks Swedish, German, English and Thai on site in Pattaya.

WHAT DOES FREEHOLD MEAN?

It means that you own the apartment with full possession and with your own title deed.

WHAT FEES ARE INCLUDED WHEN PURCHASING A FREEHOLD?

All property transactions in Thailand include a title deed cost of 2.0%, a business tax of 3.0%, a withholding tax of a maximum of 1% and the lawyer's registration fee, this fee can vary depending on the area concerned. The fees are calculated on the assessed value or on the sales price, depending on which is higher.

WHAT IS A BLUE BOOK?

The Blue Book is a type of Thai civil registration document. A Thai citizen who is registered at the property's address has his or her name entered in the Blue Book. As a foreigner, it is practical to have the book or a copy of the first page if, for example, you are going to book an internet subscription, buy a car, scooter or if you want to open a bank account.

DOES IT TAKE A LONG TIME TO MAKE A PURCHASE AND REGISTRATION?

No, it actually doesn't take that long at all, only about 2-5 weeks depending on the property. Many buyers choose to stay at home and let our Thai lawyer carry out all the practical work on site in Thailand via a power of attorney. So you don't even have to leave your country to become the owner of an apartment or house here. All documents can then be sent to you via DHL after the transfer of ownership at the Land Office or you can choose to pick up the documents from our law firm. But of course, all of this is easier to handle if you are on site in Thailand.

CAN YOU INSURANCE YOUR THAI HOUSE OR CONDO?

Yes, of course, this is included in the monthly fee. However, you must take out separate personal property insurance for furniture and personal accessories.

WHAT DOES OWNERSHIP VIA LEASEHOLD MEAN?

Leasing simply means ''leasehold''. Many houses in Thailand are sold with so-called leasehold land. This means that you only own the house and lease the land for 30 years. After the end of the period, you can extend the period by another 30 years.

WHAT FEES ARE INCLUDED WHEN BUYING A LEASEHOLD?

When buying an existing leasehold, only a Land Office fee of about 1% is paid, calculated on the total price. The lawyer's fee for the official registration of the lease is also added. Some property owners also charge the Seller a small additional fee for the lease transfer.

WHAT HAPPENS IF THE LAND OWNER SELLS THE LAND?

All signed lease agreements are registered at the local Thai Land Office. The agreement is registered there on the land owner's Land Title Papers and thus protects the foreign buyer for the entire duration of the agreement, even if the land were to be sold on to a third party.

WHAT DOES COMPANYHOLD MEAN?

Not only Thai private individuals can own land in Thailand, but also Thai companies can do this as a legal entity. A foreigner can acquire a Thai company that owns the land in Thailand. As a director of this company, a foreign citizen can hold a maximum of 49% of the shares, while the remaining 51% must be held by a Thai citizen. However, they control the voting rights via their A shares, while the two Thais only hold B shares. With this solution, the Thai shareholders have no control whatsoever over the company and are therefore never involved in any decisions regarding the company.

CAN I SELL, DONATE OR WILL MY LEASEHOLD MYSELF?

Yes, all leases in Thailand can be willed, sold or given away as a gift. However, the landowner must help with the new registration at the Land Office.

WHAT HAPPENS TO THE DOWN PAYMENT?

The down payment is deposited in our account until the new registration is complete. Only when everything is complete do you pay the remaining amount to the seller's account. Then a settlement is made where you also receive a receipt for the full payment.

WHAT IS INCLUDED IN THE MONTHLY FEE?

Everyone pays a fixed monthly fee based on the size of the apartment or villa. This amount is used to cover common costs such as building maintenance, salaries for service personnel and guards, watering and cutting bushes and grass, building insurance, pool maintenance, garbage disposal and pest control, etc. Even if you have not used any electricity or water, you still pay a fixed fee of a few Baht per month. An annual insurance premium is also added if you have home insurance for your movable property.

IS MY TRAVEL AND HOME INSURANCE APPLICABLE?

Check with your insurance company. Some home insurance policies include travel insurance that is valid for a maximum of 45 days. For longer stays abroad, we recommend special accident and health insurance purchased either in the home country where you live or from international insurance companies. If you own a property here, you must use a national insurance company.