FAQ

Foreigners can own freehold condos within the foreign quota in their own name, just as they would own a property in most Western countries. This is clearly stated in the Thai Condominium Act.

Foreigners cannot directly own land. However, they can own buildings on land through leasehold agreements, typically valid for a maximum of 30 years, which can sometimes be renewed for additional 30-year cycles.

• Transfer Fee: 2% of the appraised value (usually split equally between the buyer and seller)
• Stamp Duty: 0.5% of the appraised value (if exempt from business tax)
• Specific Business Tax (SBT): 3.3% of the appraised value (if applicable)
• Withholding Tax: 1% of the appraised value or the sale price, whichever is higher

Obtaining financing is challenging, with strict requirements and higher interest rates. Many developers offer payment plans for condos under development. This is a very popular avenue for foreigners to enter the Thai property market, as payments are manageable over a number of years.

Yes, foreigners can set up a Thai limited company where they own up to 49% of the shares, with the remaining shares owned by Thai nationals. This company can then buy and hold land and property in Thailand.

The cost of living in Thailand is generally lower than in many Western countries. It depends on how you choose to live. Food can be as reasonable as $3 – $5 per meal, utilities can range from $50 – $150 for an 85 square meter unit, depending on usage. A night out with friends may cost $30 and up, depending on the venue. Travel within the country is economical, with flights costing $30 – $150+ depending on the location and time of year. Ground travel is also easy by bus or train. You can live at whichever level you choose or can afford, but a basic lifestyle here is much more affordable than in most Western countries.

Thailand has a tropical climate with three main seasons: hot, cool, and rainy. The hot season (March to May) sees temperatures often exceeding 35°C (95°F). The rainy season (June to October) brings intermitent rains and high humidity. The cool season (November to February) is the most pleasant, with temperatures ranging from 20°C to 30°C (68°F to 86°F) and less humidity.

Thailand offers high-quality healthcare, especially in major cities. The country is known for its excellent private hospitals, which are popular among expatriates and medical tourists. Medical procedures and general check-ups are a fraction of what you would pay in the US or other high-cost countries. Public hospitals are also available, but they may not offer the same level of comfort or service as private institutions.