TigerCat

Thank you, I've read that before, but it is not clear to me. Do you agree with Mike Lister and Gottfried? That even if I am not a permanent resident, if I herniate a condo from my girlfriend's Will, I do not have to sell within one year, as long as the complex is not 49% foreign owned?

freeworld Thank you, I've read that before, but it was not clear to me. Do you agree with Mike Lister and Gottfried? That even if I am not a permanent resident, if I herniate a condo from my girlfriend's Will, I do not have to sell within one year, as long as the complex is not 49% foreign owned?

HampiK But my previous post is not about buying, it's about inheriting.

I'm sorry to keep dwelling on this, but something does not seem right. This link especially: https://bangkoklegal.com/bangkok-foreign-condo-ownership-condo-inheritance-laws-in-thailand/ Is seems to clearly say you have to be a Permanent resident, in order to not have to sell an inherited condo within one year. Do I qualify for foreign ownership? If you think you might inherit or have just inherited a condo, do you meet the criteria required for foreign ownership which is – do you hold a Permanent Residence permit under Section 19 (1) or do you reside in Thailand under the laws governing investment promotion under Section 19 (2)? If registering the property under your name doesn’t exceed the foreign ownership of 49% and you qualify for foreign ownership, then there’s no problem going forward, and you will be permitted to keep the condominium. However, if registering your condo ownership will cause foreign ownership in the entire condominium project to exceed 49% or if you don’t qualify for foreign ownership then you are not permitted to own the unit, under the law, and are required to dispose of the condo, within one year from the date you acquired it. Another critical point to note – Even if the Thai-foreign ownership ratio is not exceeded but you don’t qualify for foreign ownership, then you are still required to dispose of it within one year from the acquisition date.

Liquorice Thank you for the usufruct idea, but if I am understanding Mike Lister and Gottfrid correctly, they are saying: Even if I am not a permanent resident, and I am not - if I herniate the condo that is in my Thai girlfriend's name from her Will, as long as the complex is not over 49% owned, and it is not, than I do not have to sell the condo within one year. I still don't understand why I would not have to sell considering that I am not a permanent resident, the "legal language" is complicated for me.

Why do those 4 websites say that if a foreigner is not a permanent resident, they have to sell an inherited condo within one year?

Mike Lister Sorry to go off topic, but why if we are here for more than 180 days, are we "residents", for tax purposes?

Mike Lister I don't see anyway to reply "directly" to a comment. How can I do that? I didn't overlook what you wrote, I just didn't understand what it had to do with my inheriting the condo. So if I herniate the condo, even if I am not a permanent resident, I do not have to sell the condo because it is not even close to 49% foreigner owned. That's good to hear. (Although the websites saying I'd have to be a permanent resident confuse me.) Thank you for your replies.

Mike Lister I know my lawyer is correct about the 51% Thai / 49% Foreigner quota. But I am not a Permanent resident, and my lawyer did not reply to this when I asked him about it. So what about the Permanent resident part? Henryford Yes, my girlfriend is Thai and the condo is in her name. And she has me in her name to inherit the condo if she passes before me.

I'm in my girlfriend's Will for her Condo. I spoke to a Thai lawyer that said if she passes, if the condo complex is under 49% foreign owned (51% Thai / 49% Foreign rule), than I do not have to sell the condo within one year. He said he is 100% sure of this. But I found 4 websites that say if you are not a "Permanent" resident, you have to sell it within one year. I have posted the websites below. Does anyone know about this? https://bangkoklegal.com/bangkok-foreign-condo-ownership-condo-inheritance-laws-in-thailand/ If you think you might inherit or have just inherited a condo, do you meet the criteria required for foreign ownership which is – do you hold a Permanent Residence permit under Section 19 https://www.duensingkippen.com/thailandpropertylawblog/?p=97 1) Any non-Thai permitted to permanently reside in the Kingdom under the Immigration Act; https://www.tilleke.com/wp-content/uploads/2013/11/2013-nov1-inheritance-of-condominium-units.pdf (1) foreign individuals who hold a Permanent Residence permit; https://bangkoklegal.com/bangkok-foreign-condo-ownership-condo-inheritance-laws-in-thailand/ Foreign individuals possessing a Permanent Residence permit.

Denim. That is very touching. I've thought similar, leave something to my girlfriends family.

Lopburi3 "Not sure it would be accepted per rules about property ownership so make sure it is legal - if it is will likely be the one year to sell provision." It was done with a lawfirm, so I hope it's legal. But sometimes lawyers make mistakes. I also researched online. I think it is one year to sell provision, that is my concern. Got some good replies that can probably get an extension if have a problem selling. Thank you everybody for the replies.

My reply to lopburi3, "You have no rights to a girlfriends property." I think I would, because she has me in her Will for it.

If I understand it correctly - According to Thai law, if a foreigner inherits a house and land, they have to sell it within one year. I would think Thais know that the foreigner would be under pressure to sell, and would not get full value for it. I am wondering how foreigners that have houses with their wives / girlfriends feel about this? Thoughts? A foreigner married to a Thai national is considered a statutory heir in Thai law. As per section 93 of the Land Code Act, the Ministry of Interior shall allow a foreign national who is a lawful heir to inherit the land. However, the foreigner cannot register land ownership with the Land Department. Ater, the Thai national spouse, has passed away, the foreigner cannot register ownership of the land inherited from the deceased spouse. In such a situation, the foreigner is required to sell the land within one year from the acquisition of the land, as per section 94 of the Land Code Act.

If you sold a condo before January 1, 2024, but sold it for less than what you paid for it, I think you don't owe capital gains. But the money (less than you paid for it), is that considered Accessible Income, and you have to file a tax return?

Samut Prakarn

I've heard it's one month, 45 days, and I've heard 2 months. So for example, if the due date is May 23, can I go on March 25?

If I remit funds into Thailand after January 1st, 2024, and the funds were earned in 2022 and 2023, but I already paid taxes on it in 2022 and 2023 in the United States - do I automatically have to file a tax return in Thailand? Or because the taxes were already paid on it in the U.S., do I not need to file a tax return in Thailand? (Sorry for the multiple posts, I don't know how to delete my previous three posts.)

Sorry, I also paid taxes on it to the U.S in 2023, so I still automatically have to file a tax form in Thailand?

Sorry, I also paid taxes on it to the U.S in 2023, so I still automatically have to file a tax form in Thailand?

If I remit funds into Thailand after January 1st, 2024, and the funds were earned in 2022 and 2023, but I already paid taxes on it in 2022 in the United States - do I automatically have to file a tax return in Thailand? Or because the taxes were already paid on it in the U.S., do I not need to file a tax return in Thailand?

This is from Mike Listers' Personal Income Tax Guide: 10) Assessable Income - this is income that must be declared on a tax return. It excludes income that the RD says is not assessable, it excludes income earned before 1 January 2024 and it excludes any income specifically excluded under the terms of the DTA. I've read something similar to those on a few websites. But a few other websites have language such as this: All foreign-earned income brought into Thailand will be taxable, regardless of the earning period. This seems contradictory to me. Are the websites that have language such as regardless of the earning period incorrect?

The source of the funds were created in 2023, and years prior. I have been here more than 180 days (10 years) so I assume that makes me a Thai Tax Resident when I received the funds?