Orientation

Vertex works with a range of partners throughout Thailand to give you unparalleled orientation services. These are both bespoke and packaged services.

This is a great website about Thailand:
Travelfish.org

Frequently Asked Questions

What should I look for in my Thai property?

Whether it be purchasing, renting, or leasing a property there are numerous different factors that should be taken into account when researching your property. For many the most important decision is the location and how close you are to the local amenities such as shops, your place of work etc. Many condominiums have backup generators in case of electrical failures and provide 24 hour security. Living in the tropical climate of Thailand you should also take into account air conditioning which is essential and also any pest control methods in your area to guard against pests.

Can I arrange to mortgage my property?

Generally speaking foreign nationals cannot take out mortgages on Thai properties, however a number of financial institutions arrange loans for the purpose of real estate purchases to Thai nationals and companies. Normally the condominium developer will arrange financing for its customers from one of these institutions. After a down payment (which can be paid in installments) has been paid the balance amount will be paid through the loan from the financial institution. The financial institution would then require you to mortgage the property with the collateral against the loan.

Do I have to pay property taxes?

Property taxes in Thailand work quite differently to the usual property taxes applied in the west. Generally, there are only two types of taxes levied on properties in Thailand, Structure Usage Tax and Land Tax. Structure Usage Tax is collected by regional offices however it is only applied to commercial properties. Land Tax is fairly miniscule and the regional bodies who are charged with collecting it rarely get round to it. Because the amounts involved are so low the authorities usually wait for a few years for the figure to accumulate before deciding to collect.

What taxes are applied in the sales process?

There is an across the board stamp duty applied to all property sales and purchases across Thailand. Stamp duty is 0.5% and there is a transfer fee of 0.01%, a business tax of 0.11% is applied against an owner who has been in registered possession of the property less than 5 years, and Income Tax. There is no Capital Gains Tax in Thailand.

How do we determine the land value?

Finding the correct appraisal price can be a challenge as there are usually three different valuations placed on the property; the appraisal companies’ rate, the government rate and the general fair market value rate. Thankfully these rates are starting to become more intertwined, however Vertex will assist you and help provide clarity in any land valuations to determine that you are best placed to make a decision.

Can I own the condominium in Thailand?

Purchasing a condominium in Thailand is generally the most straightforward option for foreigners. The main restriction on foreign nationals purchasing a condominium in Thailand is that 51% of the overall percentage of units in any one condominium must be sold to Thai nationals. The funds used to purchase the condominium must have come from abroad and be legally recorded on a Tor Tor Sam.

What is a Tor Tor Sam?

This is an official document from the receiving bank upon the receipt of foreign currency into your bank account in Thailand. The Tor Tor Sam must specify that the amount transferred is only for the purpose of purchasing your property and nothing else. It is vital that you request a Tor Tor Sam from your bank when transferring your funds to Thailand if conducting a property pruchase.

Can my Thai wife purchase the property?

Thai’s married to foreign nationals are allowed to purchase property since the law changed in 1999, however the Thai spouse must be able to prove that the money involved in purchasing any property is legally theirs and not their partners with no possible foreign entitlement to it. This is generally settled by the foreign spouse signing a statement declaring that the funds used to purchase the property were belonged to the Thai spouse and that they