Delight

As I see it you do not need   contract,

What you must do is both parties go to the land office  and transfer  your name to the chanote.

I describe the simple circumstance assuming that you are Thai national..

Given that you are not a Thai national-then you will need to set up  an accountant such that a Thai company can be set up.

If the advise is such that this is not possible-then the deal is off.

However the current owner can lease the property for max 30 years.

you will typically pay the full price -for the lease.

After 30 years the  control  reverts to the official owner.

 You will need a FET (foreign Exchange Transaction certificate)

This document proves  that  the  money for the condo purchase came from outside Thailand.

If you use Swift then all is simple.

If you use Wise then on the drop down you have to select   Funds for long term stay in Thailand.

This part you must get right.

 It is possible that trump will remove the tariffs in exchange for something.

The  possible  something  is for all the affective countries to exchange their dollar  supplies for their own currencies ..Doing this over a short time period.

This could cause the dollar to depreciate by maybe 15%. This is what Trump wants.

i

If you decide to pay tax on incoming monies-then you have to volunteer .

 There is no equivalent of the Condominium Act pertaining to walled off housing estates.

So no requirement for a JPM.

If the project is a Juristic Person -then that status protects the individual land owners from being sued for unpaid external bills.

That is the prime benefit of Juristic Person status

Generally I like this  TV

However it will not play my TMN cable TV

A socket to accept the co -axial plug exists -just no signal input to the TV

can anyone recommend a solution?

An apartment in the condominium where I live is in the Thai 51%

The 1st name on the Condominium  Title Deed is that of a Thai person(female).

The 2nd name is that of a Farang(male).

Does this Farang have any rights?

Is he a co -owner?

What happens if she dies before him?

 I think that the marriage visa only applies if the wife is Thai.

That you need to investigate.

Farang male  with Farang wife is unusual.

That said currently her status and your status  are equal.

If you lease land or property in Thailand -the max. term is 30 years.

After that period all goes back to the landlord.

Condo management do not have the authority to lease out a condo.

If a co -owner dies with no will or heirs then the condo management can rent it  out-maybe.

The laws in Thailand  do not cover this scenario.

Typically the condo has been empty for at least 10 years prior to any  arrangement.

Suspect that a person will be able to rent it --6 months at a time.

If common fees go up -so will the rent

 The answer to your Q is NO..

As part of the transfer process you will need a FET(Foreign  Exchange Transfer ) certificate.

This is only available with new money coming into Thailand.

In practice you may be able to do a deal with your bank manager.

You may have to move your money  to a bank with a  co -operating manager.

 The governments demand that foreigners pay tax is based on income-not based on expenditure.

There are a list of allowances.

Some of which include

A credit s allowed against taxation paid in your home country. This assumes that your home country qualifies

If you are over 65 years -then a credit is granted.

If you are married-similar.

I have never heard of a 'Poor persons ' official status.

Suspect that a large % of Thailand's population would qualify

Perhaps you could post a link to a government website detailing this concession.

 This action is the province of an accountant .

Cheaper that a lawyer and safer

Yes they are.

I attach a JPEG detailing the responsibilities of both co -owners and developers.

The last paragraph  references e the developers responsibilities.

 It is my understanding that a condominium  whose ownership is shared Thai and Farang -then the condominium is not in the foreign quota.

This could mean that he Farang only owns 49% of the apartment.

Your wife must have a  will leaving this property to you.

it maybe the case that if your wife dies before  you then a judge will specify that the Farang has 1 year to sell.

 I first came to Pattaya i.n September 2005.

Baht bus was10 p then

I think that after  almost  20 years a pay rise for the owners of the Baht buses is reasonable.

This statement assumes that Pattaya prices will also rise,

.

 I acquired my TIN and paid my taxation in a short period of time

,

Stage 1 went to immigration and obtained a TM30. A document confirming your address is essential-that plus regular photo copies 

of passport.

Stage 2 . Visited the Chonburi TRD  (Thailand Revenue Department ) . This is located in Jomtien  TIN acquired .

Stage 3 Paid my tax liability. at the same location.

Easy

On 12/19/2024 at 9:48 AM, maxcorrigan said:

Where in Jom thien is the tax office? an what would i need to take with me to abtain the reqired info., an lastly being not very mobile wheelchair bound) could my wife do this alone, being 86 yr old i am at a loss trying to get my old brain around this new requirement !

Any help would be very much appreciated and thank you all

you need to head towards Jomtien with Pattaya behind you.

Straight thru the lights witch has the turn left to Treppasit Rd

To the next set of lights

Straight thru these lights and immediate left. you will see an overhead sign bearing the name of the office that you are seeking.

The Tax office comes to view -it is the only  office down there.

Past security -office on the right.

3 hours ago, Samh said:

Can I jump in here. If I pay 20% tax in the UK on my pension are the Thais going to take another 25%?

That depends on the amount of other income sources. which end up in Thailand

The UK has a double Taxation agreement with Thailand-so tax paid in the UK will act as a credit against Thai tax.

The UK HMRC website facilitates you to download a document detailing tax paid IN 2024.

In the meantime you may wish to spend time understanding this HMRC website such that in Jan. 2025 this tax paid information  document can be downloaded. You will need your unique NATIONAL   INSURANCE NUMBER.

Good luck

9 minutes ago, kingstonkid said:

 

Great info. I am truly surprised that there are no accountants who are searching for Expats.  You would think there is a very large market especially for an English speaking accountant or tax specialist

 there are companies who provide the service which you refer to.

However -I am convinced that you only need such companies if you cannot be bothered to do it yourself.

Basically it is easy. You will -however -have to get a TM30.

There is a Thai website dedicated to provide such a document. I applied some time ago-they acknowledged my request.

So far nothing. Suspect that will have to visit immigration.

You basic difficulty will be communication with the TRD. Thai language only

3 hours ago, Benjamin1975 said:

And if I decide not to do it, what would be the consequences? Could they freeze my bank account, for example?

 The TRD have to decide to employ an inspectorate- not cheap.

The temptation for the inspectorate to justify it's existence -it will go for the big money.

If you are big money -then maybe you should volunteer.

If caught -150,000 Baht fine.

AS they say -up to you.

5 hours ago, merijn said:

I'm living on Phuket and want to apply for the Thai Tax number (TIN).

But heard mixed report that this is possible or very difficult to get.

Does anybody has experience or advice for this ?

I'm willing to use a agent if this is required and affordable.

I don't work in Thailand but transfer sometimes money from my UK account to my Thai account.

 There is a website specifically designed to supply a TM30. This document is essential in order to acquire a TIN

My application has been acknowledge 

That was about 2 weeks ago.

Since then nothing.

I may have to visit immigration to get this issue resolved