khunPer

23 hours ago, webfact said:

SCB plans on reducing the number of branches from 1,153 to 400

Sounds like an average of 5-6 branches in each Thai province – seem like we're having a long way to the bank in the future – sad, as there's a lot one still only can do in a home-branch; hope they'll upgrade their Internet banking, but feel sorry for Thais not used to eService...

4 hours ago, evadgib said:

that can be completed electronically and saved for future use (ie next year etc)?

Might be a different form next year, or not in use anymore – I recall the detailed questionnaire about names of my deceased parents, my various (weird) habits, my bank accounts, my car registration, which social media i use, my E-mail account(s), where I use to shop, and where I hang out at night (  ), etc. etc.; which I stored electronically for printing with each 90-days report, and "next year" that never appeared; and the electronic report was even little different from the Samui immigration's official photocopy form, so the officer needed to have it approved by Big Boss that however found it Okay, as it included all the same questions, but in different font size (I always remember to thank all Goods and other divine beings...) – I also needed to fill in the Thai section on the new form, which the kind lady-officer at Immigration did for me, without me asking first...

18 hours ago, opalred said:

elect mob keep putting charges up without telling the people

Can't you see the charges on your bill?

I pay around 4.40 baht per kWh in total, about or close to the same price for the last seven years.

My oldest electric bill in my file is from January 2556, 5 years ago, at that time the total kWh price was 4.61 baht (i.e. 6012.43 baht for 1303 kWh).

My bill clearly shows usage and calculation of total charge, including a comparing summary for the previous six months – the image is my latest bill from December (2017)...

5 hours ago, Bkk2061 said:

You can own as many vehicles as you like but it would make sense to not transfer them into your name and go with the new owner and put it straight into his name

 

If you're only flipping a vehicle in a couple of weeks, you don't want your name in the book anyway

 

A lot of bkk big  bike shops do it this way and it works well but competitors are fierce in this market

 

If you check the classifieds all day you will see the same guys advertising lots of similar vehicles (they buy up anything that's underpriced immediately and flip them) 

 

Google " max singburi" 

 

He buys and sells loads of bikes monthly from all over the country and its people like him and his company you will have to compete with 

But it's still a business, and therefore in principle illegal without a Work Permit. What if some gets disgruntled or envious, and report it to Immigration..?

6 hours ago, Aeiou7 said:

# 12: "A form of visa extension condition (Imm.2)". I have no clue what this is. A google search brought up the following topic where there is a link to this very topic I am posting right now, but I couldn't find it

My post #71 from October last year (2017) explains it and show the form...

9 hours ago, howto said:

1. Transfer fee (2%) = 170,000
2. Specific Business Tax (3.3%) =
3. Stamp Duty (0.5%) = 42,500  (Occupied 13 year(s))
4. Withholding Tax = 375,000 (Occupied 10 year(s))

I'm wondering why the tax calculation stop at 10-year – did the same when I tried for 12-years – even the owing time is longer, i.e. 13-years..?

On 1/19/2018 at 8:46 AM, SGD said:

I understand this but is there a specific case, verifiable of course, which declares the original term of 30 years invalid when the second and third terms were struck out ?

 

My understanding is that the +30 options are exactly that, options and it was this part which was not enforceable and thus void but that the original main body lease of 30 years is fine.

"Thai Real Estate Lease Leasehold and Rent laws" (Samui For Sale)...

Quote

The term of the lease agreement cannot exceed 30 years

The term of a real estate lease in Thailand may be fixed or periodic. The maximum lease term in Thailand is 30 years (section 540). Any lease of immovable property for a longer period than 30 years in Thailand may only be made by renewal of the lease contract upon its expiration. Based on supreme court judgments it is possible to say that a valid and enforceable renewal can only be made within a period of 3 years prior to the expiration of the first lease term (not 30 years prior to expiration). If for example the lessor and lessee have executed 2 or more consecutive 30-year lease agreements it shall by law be deemed as 1 lease and reduced to 30 years.

 Read more: Real Estate lease term and extensions

22 hours ago, 50baht said:

Flipping as in buying to resell quickly.

Any rules about # of cars you can buy/resell per year ?

You'll need a Work Permit, as it's becoming a business. One car sale after a reasonable time of use – which time I don't know how long is, but referring to a Phuket Police Chief about the subject of foreigners repairing or working on private items, and selling them – you can sell, but I seriously doubt you can buy and sell several cars within a short time-frame; however, perhaps no authorities will check it...

4 hours ago, Monomial said:

I've seen this calculation before, and each time I am aghast at the amount of "withholding taxes" which seem far to far exceed the actual appreciation in a house, even if I was charged 37% of the profits selling. Many people even wind up taking a loss when selling their homes.

 

My question is, can you reclaim this withholding tax on your personal tax return, and if so, what documentation is required to do so? Houses/condos just aren't appreciating like they used to 20 years when this system was invented. Assuming that the house will appreciate in value by 50% over 8 years is just ludicrous in today's market.

That's how it seem to be when selling property in Thailand. The example with the 4 million baht property and a tax of 115,000 baht is little less than 3% tax.

I would have loved to pay 3% tax when I sold my property in my home country, before moving to Thailand – I paid almost 27% tax if calculated of the total sales price, calculated on my 17-year profit only it was 59%...

Your house in Thailand may decrease in value, but the land under the house will normally increase; of course depending of location, as anywhere else in real estate market.

If the house and land I live in was sold today for the same total price and was paid for it, it would as individual be taxed about 6% (not including transfer fee and stamp), if taxed on the sales price. I have had the property for 12 years, so one can consider it as 0.5% property tax per year.

I originate from a country with probably the World's highest taxation, where we in principle pay 1% of a property's appraised value in property tax every year – luxury estates are however taxed 3% – and for the land only an additional 1.6% to 3.4% a year of the appraised value; that helps accepting the present Thai property tax with a big smile...

5 hours ago, howto said:

'' but there is a web-page shared in ThaiVisa Forum some month ago ''

I searched and can't find it ,,,

I also searched before posting, but also could not easily find it.

To my knowledge you'll meet the following expenses as seller of property in Thailand...

Agent's fee (typically 3-5 percent).

Land Office tax, which can be based on the price the local land office has on file, or the actual sales price; it varies from office to office, but you can check fist, or the local real estate agent will know. Normally seller pay tax, and buyer pays transfer fee (of deed to another name).

Income tax. The seller will be taxable from the profit minus deductions for the time the property has been owned. It's a bit complicated calculation, but there is a web-page shared in ThaiVisa Forum some month ago, where you can get an estimate of the tax calculated.

You'll need an expert or lawyer to advise you.

There's however another page is this "Property Transfer Tax and Fee" from Thailand Law Online, which states...

Quote

3. INCOME TAX (Corporate Income Withholding Tax and Personal Income Withholding Tax)

The income derived on the sale/transfer property in Thailand should be declared in Thailand. The land department has an authority to withhold the income tax immediately upon the registration of sale/transfer of property. The rates of income tax payable by individual and legal person is different. A legal person is taxed at a fixed rate of 1% on the declared purchase price or the appraised value of the property, whichever is higher, this withholding corporate income tax at 1% will be applicable only when the seller is a legal person (limited company or partnership and etc.). An individual (Natural Person) is taxed in accordance with 3 different calculation methods depending on the location of the property and the mode of acquisition of the property as follows;

3.1    Calculation of Personal Income Withholding Tax for property which is not inherited property and not property which is acquired by gift.
The tax can be calculated by stages as follows:
·              Finding the appraised value of the property to be sold/transferred.
·        Finding the holding year of the property (How long the seller has owned ownership of property counted from the year of receipt of ownership until the year of transfer, any fraction of a year shall be deemed a full year)
·              Deduct/minus the appraised value with the deduction in accordance with the sliding scale as follows:

 

·              After minus the appraised value with the deduction as mentioned above you will find a result, then divide such result by the holding year, after division you will have YEARLY INCOME.
·              Calculate YEARLY INCOME TAX by using YEARLY INCOME in accordance with the tax table as follows: 

 

·              After follow with above stage, you will have the YEARLY INCOME TAX, finally, the PERSONAL WITHHOLDING INCOME TAX shall be the amount of the YEARLY INCOME TAX multiply by HOLDING YEAR (YEARLY INCOME TAX times HOLDING YEAR is PERSONAL WITHHOLDING INCOME TAX) 

SAMPLE CALCULATION FOR 3.1

·         For example, the appraised value of the property is 4,000,000 THB
·         At the transfer date, the seller has owned the property for 4 years and 2 months, so the holding year is 5 years.
·         Minus the appraised value (4,000,000 THB) with the deduction (65% of 4,000,000 THB)  = 4,000,000 – 2,600,000 = 1,400,000 THB.
·         The result from above is 1,400,000 THB, then divide 1,400,000 by 5 (Holding Year), after the division, we have the YEARLY INCOME of 280,000 THB.
·         Calculate YEARLY INCOME TAX by using YEARLY INCOME of 280,000 THB in accordance with the below tax table: 

 

For the amount of 100,000 THB, yearly income tax is charged at rate of 5% or 5,000 THB.
For the amount of 180,000 THB, yearly income tax is charged at rate of 10% or 18,000 THB.
The total yearly income tax for yearly income of 280,000 THB is 5,000 + 18,000 = 23,000 THB
·         As the final stage, the PERSONAL WITHHOLDING INCOME TAX shall be amount of 23,000 THB multiply by 5 (23,000 x 5 = 115,000 THB 
·         The personal withholding tax for the sample transaction is 115,000 THB

11 hours ago, zaZa9 said:

Certainly teak will go alright here. After all , Teak is native to this area.

The Danes have never grown teak.

–Danes grow oak. However, it was a Dane that originally started the teak-export from Thailand with royal permission. EAC the company was called, today their historical store-area "Oriental Pier" in Bangkok has become a fashionable new spot; and the original first office long ago changed to Oriental Hotel...

3 hours ago, Airbagwill said:

 

let's face it it's better than any advice you've given on the matter.

Hmm, depend on the detailed information given in a question – more-and-more slowly unveils – we will gladly help you, when your own answers dry out...

On 1/17/2018 at 11:48 AM, krey said:

...can anything be done at all to help resolve the situation.

At Koh Samui we have a foundation that sterilize and vaccinate the soi dogs...

Quote

KOH SAMUI: -- The Soi Dog Foundation on Friday started its canine sterilisation and vaccination programme in Koh Samui, Koh Tao and Koh Phangan to prevent further unwanted dogs being born, eliminate rabies, create a smaller, healthier and more sustainable population of dogs, and improve the environment for both animals and humans. 

Link to ThaiVisa news article (8th September 2017): Soi Dog Foundation expands canine sterilisation, vaccination programme.

The Immigration Office lost mine when extending my 1-year permission for staying in the Kingdom, which I noticed when my passport was returned. »No problem,« the kind officer said and gave me a new one; seemed like she had a pile of departure-cards ready under the desk. I had a photocopy in my immigration-document folder with my old card visible, and when shopwing her that, she crossed out the number in the new card, and instead hand-wrote the code from the old one...

6 hours ago, Airbagwill said:

I guess I'm looking at 8 to 15 k.... my feeling is that there must be Thai people renting in or even below that?

Thais are renting from about 3,500 baht a month, but you may wish something a bit more comfortable.

Your best bet is to come, and just rent something temporary for a short while, whilst you find your long-term accommodation; the're plenty available at 15,000 baht a month and below.

It might however help getting advise, if you know which area of Koh Samui you are looking for to stay in.

On 1/14/2018 at 4:10 AM, greenman2841 said:

...I have it on a lease basis 30+30+30 years I also have the yellow and blue books in my name. I would like to sell up due to health issues.

Question is this possible being a lease if not is there anything I can do

You have a "30-year lease", anything else is illegal.

If your 30-year lease agreement allow sub-lease (or like wording for transferring the lease to another name), you can sell the house and the remaining lease period.

Blue House Book and Yellow House Book does not state ownership. The Blue Book follows a house, the Yellow Book is address proof for a foreigner. Your can be named as "Master of the Household", and thereby be the one to approve names in the Housebook(s), but that is not stating any ownership.

Edit: A good link about Lease agreements.

Quote

Can I enter into a 90-year land lease agreement?

The maximum lease term in Thailand is 30 years. This term can be renewed, but this will be a new lease and there is no guarantee the lease will be renewed. The 90 year lease agreement (3 x 30 years) includes prepaid renewal options and rights to transfer the property to a freehold title. Currently such leases are considered void and registration will be refused by the land offices due to the latest land office regulations. Some use now a separate addendum to the lease containing similar clauses.

On 1/11/2018 at 11:30 AM, amidia808 said:

...any tips?

I searched with Google and found a government web-page with the legal details, very helpful.

At that time about 10-years ago, and probably not changed since, one is allowed one surface shipment (sea) and one (smaller) air shipment. I used the sea shipping method with a 20-feet container; not that I could fill it up, but because it cheaper and more safe, than individual parcels.

The trick seemed to be a very detailed packing list – with model and serial numbers of all electronic and like items – as described by the authorities, and stated with fair and reasonable values for each item or package (I hand-wrote the values on my printed packing list).

I used a shipping company to ship the container cif. Bangkok, including "total loss" insurance, which is cheap; but not other damage insurance, which is expensive, and I was told furthermore difficult to claim any damage from. The shipper packed the container, and filled the empty space with air-balloons so everything was steadily packed.

I found a local Thai company to arrange for custom clearance and domestic transportation, and offloading including bringing the empty container back to Bangkok. I paid minor duty and little v.a.t. – there will always be little charged, I was told – and I paid "overtime" to customs, for working in normalk morning day time; that I was recommended to do, and they opened the container door, a corner of one parcel, and closed the door, and calculated the minor fees probably from something in my detailed packing list.

Everything arrived safe without any damages.

Cost will be depending from where you ship – you can get more than one quote, and ship cif. at that's cheaper – and local costs also depending of domestic transport. Almost 10-years ago I had my stuff moved (after being stored in a warehouse in may country little more than a year). From Scandinavia, including storage, to cif. Bangkok was about $8,000 for 20-feet container. Custom clearance, various fess and domestic transport in Thailand around 50,000 baht.

Hope this info may help you, and wish you good luck...

2 hours ago, hoxman said:

Unless you are going for high-end luxury homes, found that  you can do better for  yourself. When dealing directly with the owner you can get some real savings for longer term. IMHO

I agree with "hoxman", you (OP) is better off coming and stay in a temporary place, and yourself find a suitable accommodation; there are plenty available, and many at affordable rates. If paying a year in advance, you can often squeeze the price further down – talk from positive experience – however first make sure you like the neighborhood, as you shall not expect a refund if you move out before time is up.

7 hours ago, selftaopath said:

How can a Thai/ family live on these wages?  

You shall not convert to your homeland's currency – and for example think of $10 a day – but look at what you can buy for the wage, and compare what similar will cost in your home country, and how much you can buy for your home country's minimum wage after taxation; the you can compare.

An often used method is eggs, as they are locally produced: How many eggs can a Thai buy in a supermarket for a minimum wage, and how many eggs can one buy for a minimum wage after tax (Thais don't pay tax on minimum wages) in your home country, or another country you wish to compare with..?

You can live, or survive, on minimum wages – many families lives from something like 2 x 8,500 baht a month – but not much left for partying. Many people works away from home, and are sometimes offered a free room at their workplace, and when renting a room is often in the level 2,500 baht to 3,500 baht a month; two single workers often share a room. If you use an old-fashioned calculation like 1/3 for accommodation, and 1/3 for food, and 1/3 for other expenses; it still makes sense with approximately per person 100 baht a day for food, which you can live from, some 2,500 baht a month for room etc. (which often is less than 2,000 baht per adult working person), and some 3,000 baht a month for other things...

11 hours ago, Polaky said:

...opinions from retirees would be most appreciated.

Why so "many retirees wish to spend their golden years in Thailand" I can only presume, but I can however say why I wish to spend my "golden years" in Thailand.

My decision was a combination of several things – presumably not that different from many others – and they're still the reason why I stay here permanently for more than 12 years now.

Weather
I come from a cold Scandinavian country, where the warmer period is only some three month – if we're lucky to have summer at all – whilst most of the remaining part of the year is gray, rainy and windy; even the cold feeling winter has no guarantee for the fun and pleasure of snow. The spot I found i LoS has something like 300 good days a year, and an all year round temperature range from 24 to 32 centigrade.

Ladies & family
I realized many years ago, that I fancy the South East Asian lady-look more than Caucasian, so that's another benefit. Furthermore I never had children in my home country – too busy with hard work and paying tax as being self-employed most of the time – so if I wished to have an heir, I needed a, compared to own age, relative young mother, which was more likely to find in this part of the World, than in my home country; as there one need to be either famous, or filthy rich, preferable both, to mingle with young ladies without any comments.

Economy

I'm kind of "financial refuge", not as being poor, but because I could not live same kind of pleasant life-style in my home country, as I can live out if LoS. With a small government retirement pension only, and a little bit extra private retirement pension on top for a limited period only, one cannot afford an exciting life style in a Nordic country – even one has saved enough to live in a mortgage free home, and with little extra in the bank – as many Scandinavians are ripped poor by taxation. Just for the heating expenses of my house during the cold season, I could survive a year in Thailand, and with property taxation on top, I would be able to spend an amount between 400k and 600k baht a year to live from in LoS. My private savings made it possible to retire early at age 56, and enjoy some good "golden years", instead of saving little more money up after taxation from another decade of hard work, and perhaps then realize that I now was too old to enjoy my savings.

Dream of living in Paradise

When I first time visited Thailand in 1987, I had a good feeling about Chiang Mai as a place I could life, if I ever wished to move away from my home country; however I'm today happy I settled in a different part, further South on a island with less temperature deviation through the year, and less pollution, and next to sea. I was lucky to be able to change my homeland property with something pretty close to a house and location, one otherwise could only dream about.

Life-style

I've changed (some of) my habits and I'm living a slightly different life-style that probably would have been difficult in my home country – apart from weather and like, also due to taxation and living higher general expenses – furthermore my decision of settling in a tourist destination, makes me feel my life now is nothing but one looong vacation; which it probably is...

So, so far, I don't regret my decision...

On 1/14/2018 at 6:19 AM, dauu said:

What is the reason for roosters in temples

I was wondering the same and asked around, including good answers in this forum 1½ year ago, after I saw numerous roosters at the foot of a Spirit House...

My text for the Wikimedia Commons image upload was:

Lots of small cock figurs are placed under a Spirit House in a road curve, where other offerings are mainly red drinks. The text on figur bases says "gold money" (money gold) and "money rich" (rich money). I have asked around why cocks are offered, and got several explanations: for example Thai-men like cock-fights, so does Spirits; that they are thanks for a lucky number in lottery or any wish come true (may have to do with text "money"); and that cock-offerings expanded rapidly after a film and story (2007) about legendary King Naresuan (1555-1605) and a cock-fight he won over a prince of Burma. (Chaweng Noi Viewpoint, Koh Samui, Thailand, 2016)

7 hours ago, up-country_sinclair said:

Sorry for not being clear.  I was thinking in terms of infrastructure related companies or ETFS that would stand to profit.

If SET listed companies, you can invest by buying shares (easy without voting rights) – you might find results by googling, otherwise I use SETtrade to find information and SET-codes (there might be other similar or better sites), and SET Company Summary for details like this example for BTS (change the SET company code in URL-address line) – otherwise I believe it's for big money only; and if you're big money, you would know better than asking in this forum...

20 minutes ago, BEVUP said:

To sum things up 

 

* Usufrut - Gives you the right to occupy the land > Owner has right to sell or mortgage (out right )

 

* Lease   - Gives you the right to occupy & construct - ? Can owner still sell passing on Lease

 

* Superficies - Gives you the right to occupy & actually own the building you construct - Not to sure but can land owner sell land ? so what about your house

 

* Company - Company owns with Thais as majority 51% - You may gain most voting rights but company still owns (you own part of it as a share holder ) - correct if need be

Correct me if needed > Property can be sold with a majority vote 

You can combine Lease and Superficies, so you own building and are guaranteed to stay on land for up to 30 years, even if owner sells the land. You could own 49% of the company leasing the land to you, and that company could have preferred shares. Usufruct is not interesting, as one in worst case scenario, may be worth more dead than alive... 

8 hours ago, Just1Voice said:

People who do this should be kicked out of the country, regardless of what country it is, and then permanently banned from ever returning to it. 

Agree, but before that, they should both have the pleasure of cleaning their own grafitti, and also some other cleaning jobs for a couple of weeks (that worked well in Singapore, many years ago)...